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NEW BANK ACCOUNTS

The New Bank account page allows you to create different Nostro accounts such as Bank Accounts, Liquidity Provider accounts and Margin Accounts. To access the New Bank Accounts page, click on Settlements > New Bank Account in the navigation pane.

Creating a New Bank Account

Bank accounts are accounts that hold your organizations funds. All bank accounts in Kooltra are single currency accounts. Follow the video below to create a new bank account.

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Once you click the green Create button, you will be taken to the Nostro Account Information page where you can enter more details about the Nostro account such as the Nostro Account information, Bank Information and Intermediary Bank information. If you would like to set this bank account as the default bank account for the currency pair, check off the Default for Currency checkbox in the Nostro Account Information card.

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Creating a New Liquidity Provider

A liquidity provider is an institution that provides your organization with funds. In Kooltra, a liquidity provider is a type of Nostro that is assigned to an account. Follow the video below to create a new liquidity provider. 

Please note that in order to create a liquidity provider, you must have already set up a Nostro Account in the Counterparties page. 

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Once you click the green Create button, you will be taken to the Nostro Account Information page (see the Nostro Account Information figure above) where you can enter more details about the Nostro account such as the Nostro Account information, Bank Information and Intermediary Bank information.

Creating a Margin Account

A margin account is an account with a Liquidity provider. This type of account is used when you leave margin with your liquidity provider (ex. you give your Liquidity provider $200,000) in order to borrow additional funds ($1,000,000). Creating Margin Accounts in Kooltra is similar to creating bank accounts, in the sense that you specify the name of the margin account and the currency.  All margin accounts in Kooltra are single currency accounts. Follow the video below to create a new margin account. 

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Similar to creating a new bank account or liquidty provider, when you click the green Create button, you will be taken to the Nostro Account Information page (see the Nostro Account Information figure above) where you can enter more details about the Nostro account such as the Nostro Account information, Bank Information and Intermediary Bank information.

FAQ

Why do I not see all currencies in the currency dropdown list when creating a new bank account?

The list of available currencies is based on the entity you have selected and the currencies available for that entity. To see the list of currencies available for the entity or to add/remove currencies, use the Overview tab in Entity Settings.  

What is an intermediary bank? 

An intermediary bank is a bank that facilitates the transfer of funds on behalf of the primary bank. Intermediary banks are used when the primary bank does not have a working relationship with the bank that it is transfering funds to.

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bank account, liquidity provider, margin account, nostro type