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Frequently Asked Questions

Q: What types of clients are on the platform?
A: SURFACExchange has a broad and diverse institutional client base that includes: Tier-I Banks, Asset Managers, Hedge Funds, Proprietary Trading Firms, Regional Banks and CTAs.
Q: What instruments trade on SURFACExchange?
A: Users can trade OTC European-style vanilla FX options: call, put, straddle, strangle and risk reversal in all G10 currencies and their crosses.
Q: How can I become a User on SURFACEwave?
A: Clients must sign our Terms and Conditions and have a credit relationship with one of our designated FX Prime Brokers/credit issuers. Please contact: waves@surfacexchange.com
Q: Who owns SURFACExchange?
A: We are an independent company owned by management and angel investors.
Q: Do I have to install a program to access the platform?
A: No. SURFACEwave is a no-install browser-based platform. Just go to www.surfacexchange.com and log in via Internet Explorer versions 7.0 or 8.0.
Q: Can I trade through the API?
A: Yes. The SURFACEstream API is designed for trading participants who seek an electronic point of entry to SURFACExchange. The API can be connected through the industry standardized FIX Protocol. By utilizing the API to originate orders into SURFACExchange, trading participants will be empowered to send and receive instantaneous messages through a standardized FIX 4.4 based protocol.
Q: What is the fee to trade on SURFACExchange?
A: SURFACExchange is free to access. We charge a uniform fee per Million traded, with discounts given based on volume and action (maker or taker on a trade). Please contact Client Services for more information.
Q: Who are the market makers on the platform?
A: Everyone can be a Market Maker. In addition, SURFACExchange has a balanced mix of buy- and sell-side liquidity providers.
Q: Can I see depth of book?
A: Yes. Users can see the different levels of liquidity for standard markets and RFQs.
Q: Does SURFACExchange offer STP?
A: Yes.
Q: Is SURFACExchange a SEF?
A: Once the SEF rules are finalized we will officially obtain a SEF license. In the meantime, the CFTC has been notified that we operate as an Exempt Board of Trade.