Get answers to common questions about our platform and its features. This FAQ is designed to enhance your experience and help you make the most of Kooltra.
How do I create client accounts in Kooltra?
To create a client account, go to Counterparties > Counterparties and click Create New Counterparty. Select the counterparty type (Company or Individual), settlement type (Vostro for net settlement or Payments for individual settlement), and base currency. Enter the client's legal name, entity classification (for companies), and primary contact details.
After clicking Create, you can choose to fill out a compliance onboarding form or skip it. Finally, define the client's permitted currencies, products, and settlement methods, set the account to active, and create beneficiaries. You can now start booking trades for the client!
For detailed steps on setting up clients in Kooltra, check out the full article: How do I create Client accounts in Kooltra?
How can I update my client's information?
To update client information, go to Counterparties > Counterparties, search for and click the counterparty’s name. This opens the Counterparty Management page, where you can update details in the Overview tab, such as name, status, compliance, and trading limits. You can also modify contacts, manage documents, add notes, enable apps, and assign fees using the respective tabs.
For detailed steps on updating client information, check out the full article: How do I update Counterparties in Kooltra?
How can I create a Liquidity Provider?
To create a Liquidity Provider (LP) account, navigate to Counterparties > Counterparties and click Create New Counterparty. In the New Counterparty pop-up, fill in all fields, set the Settlement Type to NOSTRO, and click Create. When prompted to complete the counterparty onboarding form, click Skip for now.
For detailed steps on creating and managing liquidity providers in Kooltra, check out the full article: How do I create and manage Liquidity Providers in Kooltra?
How do I configure a Liquidity Provider in Kooltra?
After creating a Liquidity Provider (LP), configure it by going to Counterparties > Counterparties and searching for the LP. Ensure the Account Code is unique and set the Status to Active for availability in Kooltra. Change the Margin Group to None, specify the Authorized Currencies and Authorized Products, and outline the Authorized Incoming and Outgoing Settlement Methods. Finally, include the necessary Address Information.
For detailed steps on creating and managing liquidity providers in Kooltra, check out the full article: How do I create and manage Liquidity Providers in Kooltra?
What are the different Counterparty Types in Kooltra?
Counterparty Types in Kooltra categorize accounts, and each account must have one assigned. The types are:
- Individual: for individual or joint accounts.
- Company: for businesses and institutions.
- Internal: for internal accounts, such as treasury desks.
To learn more about the different counterparty types, check out the full article: Understanding Counterparty Types
What Settlement Types available in Kooltra?
Kooltra offers several Settlement Types that dictate how trades are settled for each Counterparty. Each account must have one assigned:
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Nostro: Net settles trades into nostro accounts, typically used by Liquidity Providers or Banks.
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Payments: Gross settles trades for clients making payments to beneficiaries, with an option for net settlement through trade linking.
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Vostro: Net settles trades into vostro accounts, common among clients trading multiple currencies, such as institutional clients.
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Give Up: Settles trades into a specified give-up account's nostro, often utilized by Prime Brokers.
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No Settlement: Does not generate cash flows from trading activities, used when cash management is conducted outside of Kooltra.
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Company: Classifies accounts as businesses or institutions.
- Internal: Represents internal entities, such as treasury desks
To learn more about counterparty settlement types, check out the full article: Understanding Counterparty Settlement Types
How do I create a beneficiary?
To add a Beneficiary to an Account, go to Settlements > Beneficiaries and click Create New Beneficiary. Enter the Account (counterparty), Beneficiary Name, and applicable Currency. Optionally, mark it as a Third Party or set it as the default Beneficiary for that currency, then click Create.
You'll be redirected to provide additional details for back office approval. The Beneficiary will remain in Draft status until approved, which is necessary before making payments or receiving funds.
For detailed steps on how to create or modify a beneficiary, check out the full article: Adding or Amending a Beneficiary
How do I modify my beneficiary information?
To update a Beneficiary, specify the pay-from account, payment purpose, bank details, settlement method, and Beneficiary information. You can also add optional details, upload documents, and review the change history. Always click Update to save changes.
For detailed steps on how to create or modify a beneficiary, check out the full article: Adding or Amending a Beneficiary
How do I book a trade?
To book a trade, navigate to Trading > Trade Entry in the left sidebar. Select a required counterparty and trade type. If applicable, choose a contact and book. Specify the currency pair, action (Buy/Sell), dealt amount, and rate. Optional fields like fees, comments, or hedge rate can be added.
For detailed steps on creating trades, check out the full article: Create a Trade Manually
What Trade Types Does Kooltra Support?
Kooltra supports trading and lifecycle management in the following products.
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FX Spot
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FX Forward/ Window Forward
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FX Swap
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Non- Deliverable forwards
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FX Options
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Crypto
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CFDs
How can I amend or modify an existing trade?
To modify an open trade, search for the trade ID using the global search bar. You can update the counterparty, trade type, book, currency pair, dealt amount, rate, fee, trade date, value date, hedge rate, markup, and spread. Click Update to save changes.
To learn more about modifying or cancelling trades, check out the full article: Understanding trade amendments and cancellations
How do I cancel a trade?
To cancel a trade, search for the trade ID using the global search bar. Open the trade ticket and click the Cancel button in the bottom right corner. If settlement details were added, this will automatically void associated cashflows. For settled trades or those past the value date, contact Kooltra Support for assistance, as adjustments to vostro and nostro accounts may also be needed.
To learn more about modifying or cancelling trades, check out the full article: Understanding trade amendments and cancellations
How can I create a Spread Group?
To create a Spread Group in Kooltra, navigate to Trading > Spread Groups, then click Create Spread Group. Enter the group name and select the spreads to apply: Execution for trade pricing or Rollover/Sweep for rollover processes (use Execution for client pricing). Finally, click Create.
For detailed steps on creating spread groups, check out the full article: Creating a Spread Group
How do I set up spread rules?
Spread rules are defined within existing spread groups. To set up a new spread rule, navigate to the spread group page and select the specific spread group where you want to add the rule. Click + Add New Spread Rule, and specify details like currency pair, tenor limit, markup type, markup amount, slippage, and trade limit.
To learn more about spread rules, check out the full article: Setting Up Spread Rules
How do I assign counterparties to my spread group?
To assign counterparties to a spread group, open the group and click Add Counterparties. In the pop-up, select the desired clients and click Save. You can also review previously assigned counterparties here.
What types of cashflows are supported
Here are the types of cashflows supported in Kooltra, along with brief descriptions and examples for each:
- Wire-In: Credits both a nostro and a vostro in one transaction (e.g., receiving a margin deposit).
- Wire-Out: Debits both a nostro and a vostro in one transaction (e.g., returning a margin deposit).
- Vostro Credit: Credits a vostro account (e.g., rebate to a customer).
- Vostro Debit: Debits a vostro account (e.g., charging a one-off fee).
- Vostro Transfer: Transfers funds between vostro accounts (e.g., moving funds between customer accounts).
- Nostro Credit: Credits a nostro account (e.g., crediting interest to a bank account).
- Nostro Debit: Debits a nostro account (e.g., debiting a fee from a bank account).
- Nostro Transfer: Transfers funds between nostro accounts (e.g., settling with liquidity providers).
To learn more about cashflow types, check out the full article: Understanding Cashflow Types
How do I create manual cash adjustments?
To post an adjustment in Kooltra, go to Settlements > Adjustment in the left sidebar. Enter the adjustment type, currency, client amount (Bank Amount + Bank Fees - Client Fees), client, settlement method, beneficiary, nostro, fees, sub-type, and value date. Optionally, add internal or client comments. If "Process Immediately" is checked, the adjustment closes automatically; otherwise, it remains open in "Pending Settlements."
For detailed steps on creating, modifying, and cancelling cash adjustments, check out the full article: How to Create and Edit Manual Cash Adjustments
How can I cancel an adjustment I made?
To cancel a cashflow created in error, go to Settlements > Bank Accounts and select the Nostro where the money was deposited. Use the search box if needed, then click Load to display cashflows. Adjust the date range if necessary. Click on the cashflow to open it, or if you know the cashflow number, search for it directly. Once open, click Delete to remove the cashflow.
For detailed steps on creating, modifying, and cancelling cash adjustments, check out the full article: How to Create and Edit Manual Cash Adjustments
How do I edit an adjustment?
To edit an adjustment, navigate to Settlements -> Bank Accounts and select the Nostro account where the money was deposited. Use the search box if needed. Click ‘Load’ to display cashflows within the selected date range; adjust the date range if the expected cashflow doesn't appear. Open the desired cashflow ticket, update the necessary fields, and click Modify to save your changes.
For detailed steps on creating, modifying, and cancelling cash adjustments, check out the full article: How to Create and Edit Manual Cash Adjustments
How can I add a Nostro bank account?
To add a Nostro account in Kooltra, go to Settlements -> New Bank Account. Define the entity, type (Bank, Liquidity Provider, or Margin Account), group, account name, and currency. Click Create to add the account and proceed to the Nostro Account Information page. After making any changes, click Update Account to save your updates.
For detailed steps on adding nostro and vostro accounts in Kooltra, check out the full article: Creating Nostros and Vostros
How do I add a client's bank account?
Client bank accounts, or vostro accounts, are managed in Kooltra under the Beneficiaries page. To settle trades, ensure you have at least one Beneficiary in Kooltra for each traded currency. Kooltra will automatically create Vostro accounts for each currency linked to a Beneficiary.
For detailed steps on adding nostro and vostro accounts in Kooltra, check out the full article: Creating Nostros and VostrosHow do I send clients confirmations of their trade?
In Kooltra, confirmations can be sent automatically or manually.
For automatic confirmations, navigate to Counterparties, search for the account, and select it. In the Contacts tab, choose the relevant contacts and ensure their email addresses are correct. Then, select Send Transaction Confirmation Email and/or Send Settlement Confirmation Email before clicking Update.
For manual confirmations, open a trade and go to the Settlements tab. Click Create confirmation & Email, select recipients in the To field and any broker in the Cc field. Generate the necessary confirmations, choose which to send, and click Send.
To learn more about setting up client confirmations, check out the full article: Understanding Confirmations
How can I view or create my own custom reports
To access custom reports in Kooltra, navigate to Reporting > Custom Reports in the left-hand menu. This will open the Reports module in Salesforce Lightning Experience.
How can I receive reports for myself or my team?
How can I restrict access to reports for certain team members?
Permissions on custom reports and folders control user access. Your assigned permissions dictate which reports and data you can view. Reports saved in the Private Folder are only visible to you, while those saved in shared folders can be accessed by others. To check user access for a report folder in Salesforce, go to Reports > All Folders, select the folder, and click the dropdown menu next to New Folder to choose Share.
To learn more about setting permissions on customer reports, check out the full article: Permissions on custom reports and folders
How can I close or delete a client account?
If you need to delete a client account, please contact Kooltra Support for assistance.
What happens if a trade is booked incorrectly?
If you've booked a trade incorrectly, you may be able to update the details or cancel the trade, depending on your user profile and the trade status.
To learn more about how to cancel or modify a trade, please check out our detailed article: Understanding trade amendments and cancellations
Can I set different trading limits for different clients?
To set different trading limits, navigate to Counterparties > Counterparties in the navigation panel and click on the name of the relevant counterparty. From there, you can define the Spot and Forward Limits you wish to enforce. Once you’ve set the desired limits, don’t forget to click Save to apply your changes.
For detailed steps on setting client trading limits, check out the full article: Understanding Spot and Forward Limits