Can a fund get FX quotes from several providers without revealing its name?
Yes. You send the requirement to us once, we remove anything that identifies your fund and put it to several providers on our panel at the same time.
Each provider prices the same requirement in the same window, so the quotes can be compared fairly. You get them back in one table with our notes, and you decide whether to take any of them further. If none is better than what you have, you have lost nothing and you now know where your current rate sits.
Most funds use a blind quote for a regular flow they already pay for, such as quarterly management fees in another currency or a run of distributions, because that is where a better rate repeats.
What do we need to send you?
The currency pair, the amount, when you need it and a few facts about the fund. It takes about three minutes.
- The currency you sell and the currency you buy.
- The amount, and whether it is in the currency you sell or the one you buy.
- Whether you need it now (spot) or are not sure yet.
- Whether it is a one-off or a regular flow, and roughly how much FX the fund does a year.
- Settlement needs: where the money must land, any deadline and any account already in place.
- The type of fund and where it is domiciled, which decides which providers can onboard it.
What do providers see, and what do they not see?
Providers see the requirement and the type of fund. They do not see your fund's name, the manager, your investors or your contact details until you choose them.
| Stage | What providers see | What they do not see |
|---|---|---|
| Quote request | Currency pair, amount, timing, one-off or regular, settlement needs, fund type and domicile, annual volume band | Fund name, manager, investors, current provider, your name and contact details |
| Quotes returned | Nothing more. Providers do not see each other's prices | Whether you liked their quote or anyone else's |
| You choose a provider | Your fund's name and a contact, once you ask us to introduce you | The other quotes |
| Onboarding | What the provider needs for its own checks, which your fund gives it directly | Anything held by FundFX beyond the introduction |
Providers that do not win the request never learn who asked. Each provider on our panel agrees confidentiality terms with us before it receives any request.
What comes back, and how do we compare the quotes?
A table with each provider's indicative rate, its spread to the market mid at the moment of quoting, fees, cut-offs and onboarding time, so you compare all-in costs rather than headline rates.
| Item | What it tells you |
|---|---|
| Indicative rate | The rate the provider would expect to offer for that amount at that time |
| Spread to mid | How far the rate sits from the market mid at the moment of quoting, in basis points. The fairest single number for comparison |
| Fees | Payment fees, account fees and any charges on receipt, which can matter more than the rate on small payments |
| Settlement and cut-offs | Latest time to instruct for same-day payment in each currency, and how long funds take to arrive |
| Onboarding | Typical time to open accounts for your fund type and domicile, and any minimum volume |
| What it does not show | An executable price. Rates move, and no provider can trade with a fund it has not onboarded |
Is a blind quote a price we can trade on?
No. A blind quote is indicative. It becomes a live price only once your fund is onboarded with that provider and asks to trade.
Markets move between a quote and a trade, so the useful comparison is the spread to mid rather than the rate itself. A provider that quotes 8 basis points from mid on Monday should be close to 8 basis points from mid when you trade, whatever the rate has done. We check exactly that in the yearly review, because a spread that drifts upwards after onboarding is how rate creep starts.
What happens between a quote and the first trade?
You choose a provider, we introduce you with your agreement, and the provider runs its own checks on your fund directly. FundFX does not collect or store your KYC documents.
You choose
From the quote table, with our notes on each provider's authorisation, safeguarding and fund experience.
We introduce you
Only with your agreement, and only to the provider you chose.
The provider onboards your fund
It asks for its KYC documents for each entity that needs an account, often the fund, the general partner and any SPVs, and the people behind them.
Accounts open in your fund's name
Users and approval rules are set up before any money moves.
A test payment, then the first trade
A small payment proves the route works. The first real trade follows, with the rate confirmed at that moment.
How is our request kept confidential?
We strip identifying details before anything goes to a provider, and we keep the full request on our own systems only.
The settlement notes are checked before they are passed on, in case they mention a name or an account. We never share your fund's identity with a provider you have not chosen, and we never sell or share your details for marketing. More on client money, security and confidentiality and on how we are paid.
How do we request a blind quote?
Fill in the form below. Nothing goes to a provider until we have checked it and removed anything that could identify your fund.