Introduction
In this guide, you will learn how to settle your orders as a client with the Omnibus operating model. We also show you how to retrieve settlement reports via the Investment API and describe the exact process of a data retrieval and how such a report is structured.
How order and post-trade processes work
In an Omnibus setup, Upvest supports settlement on a post-trade basis, while clients manage cash locks independently of Upvest's order execution.
We typically execute orders throughout the trading day so that we can issue a settlement report at the end of the day indicating how much cash is to be received or paid for the trading day.
The following diagram illustrates the post-trade settlement flow:
| Step | Trading day | Description |
|---|---|---|
| 1 | E-money cash funds for order are redeemed and transferred to a dedicated client money account. | |
| 2 | T+0 | The order is placed and executed with the broker. |
| 3 | EoD T+1 | The outstanding cash funds are delivered to the broker for settlement. |
| 4 | T+2 | If there is a shortfall at T+2, the collateral account can be used to settle the outstanding order. |
Order settlement flow
Buy dominant business day
Sell dominant business day
Corporate actions settlement flow
In the case of corporate actions distributions, the main difference is that no withholding tax is applied and upon settlement we generate a separate settlement invoice in the same nature as the trading settlement invoice. Once the settlement invoice is received, we transfer the applicable funds to our client.
