The FX DirectDealer trading platform was designed to execute and record deal transactions in an fast and efficient manner.  Given the dealing alternatives, there is no better way to execute your transactions. We strongly recommend that all clients attempt dealing online before calling the dealing desk. 

We of course realize, however,  there are times when dealing via the trading platform is not possible.  To service you during these times, all clients can call our trading desk at 866-FOR-FXDD (866-367-3933) or 212-791-3933.  

When dealing via the phone we ask that all clients follow a dealing protocol that will prevent confusion and facilitate your trading requirement as fast as possible.  

1. When a FXDirectDealer representative answers the phone, he will ask for your Account Number.  No transaction can be complete without giving this number.
2. The representative will then ask for your Password to validate the client.
3. The order should be given in the following manner for each order type:

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MARKET ORDER FORMAT:
"BUY/SELL # of  lots of Currency Pair at the Market"

MARKET ORDER EXAMPLES:
"Buy 3 lots of Euro/USD at the Market"
"Sell 5 lots of Sterling/USD at the Market"

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LIMIT ORDER FORMAT:
"Buy/Sell # of  lots of Currency Pair at Desired Price"

LIMIT ORDER EXAMPLES:
"Buy 2 lots of USD/Yen at the 120.65"
"Sell 1 lot of Euro/USD at .9023"

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STOP (LOSS) FORMAT:
"Enter a BUY/SELL Stop for # of  lots of Currency Pair at the Desired Price"

STOP (LOSS) EXAMPLE:
"Enter a Buy Stop for 1 lot of Euro/USD at .9050"
"Enter a Buy Stop for 5 lots of Sterling/USD at 145.45"

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OCO (One Cancels Other) ORDER FORMAT:
An OCO order is actually two separate orders where one order if filled, automatically cancels the other order.  OCO orders can be entered by a trader for a number of reasons.  For example, an OCO order can be two separate buy orders, it can be two separate sell orders, or it can be a separate buy and sell order.  As a result of OCO's flexibility, extra care must be given when verbally relaying the details to an FXDirectDealer representative.  

"I would like to enter a OCO order to  BUY/SELL # of  lots of Currency Pair at the Desired Price  or Buy/Sell  # of lots of Currency Pair at the Desired Price.  OCO"

OCO (One Cancels Other) ORDER EXAMPLES
"I would like to enter an OCO order to Buy 1 lot of Sterling/USD at 145.30 or Buy 1 lot of Sterling/USD at 146.90. OCO."
"I would like to enter an OCO order to Sell 1 lot of Sterling/USD at 144.50 or Sell 1 lot of Sterling/USD at 146.75. OCO."

Note: In this order, it is recommended to verbally say "OCO" within the order AND also after the order has been given.

4.  The FXDirectDealer representative will repeat the order details back, and ask for the dealers verbal confirmation.  If agreed, the order will be entered and executed at the best possible price as dictated by market conditions* if a Market Order.  If a Limit, Stop or OCO order, the order will be entered on behalf of the trader and executed when the price dictates. 

5.   When an order is executed, the deal details including Deal Number, Account Number and other relevant trade information will be relayed to the trader in a timely manner.  

*  During all Fast Market conditions when overall interbank liquidity is adversely affected, all orders whether done electronically, via the phone or the FXDirectDealer electronic conversation application will be executed at the price that the "market" and interbank liquidity dictates.