OTC Broker flow - Managing Brokered Trades as Customer
This guide explains how to manage Over-the-Counter (OTC) trades initiated by a broker on your behalf, especially if your account requires approval for such trades.
Currently, this is offered to our institutional customers only.
1. Account delegation between broker and customer
Account delegation allows your broker to trade on your behalf. This guide explains what to expect when your broker sends you a delegation link.
Important notes on broker’s delegation link:
Expires after 7 days if you haven't submitted the form
Expires immediately after you submit the form
Each link is single-use — ask your broker for a new one if yours expires
Accepting a delegation request
Before your broker can send you a link, you must complete offline onboarding with them.
Once onboarded, your broker will send you a delegation link. Click the link to open the form and submit it to grant them access to trade on your behalf.
Customer’s Confirmation on Account delegation to broker:
Customer’s confirmation choice:
You must be logged into their Bullish account and open the link.
Once they do, a Account delegation request will appear on screen asking you to confirm you want to grant your broker access to trade on your behalf.
Choosing a trade approval method
When accepting the invitation, you must select the trading account(s) and choose one of the following trade confirmation flows on trading account level:
Approval required: You must approve every trade you initiate in their own user interface (UI).
Straight through : Trades your broker submit execute immediately on the your delegated account, provided your trading account have sufficient margin.
You must fully trust the broker before selecting this option.
Click Submit.
2. Approving or Rejecting Pending Broker Trades
Applicable to Approval method of the delegated account(s) as Approval required
When a broker creates a trade for you, it will be in a pending state until you approve it. Follow these steps to manage your pending trades:
Log in to your Bullish account.
Navigate to trading account
Go to the OTC section. You will find the OTC tab in the main menu on the left. A notification will show the number of trades waiting for your approval, as seen in the first image.
Click on the 'Broker' tab. This tab will display a list of all trades that are pending your approval.
Review and act on the pending trades. For each trade, you can see details like the market, side (buy/sell), price, and quantity. You have the following options:
Single Trade: To approve or reject an individual trade, click the Approve or Reject button for that specific trade.
Multiple Trades: To approve or reject several trades at once, select the trades using the checkboxes and then click either the Bulk Approve or Bulk Reject button.
3. Viewing Your OTC Trade History
To review your past OTC trades, including those initiated by a broker:
Navigate to the 'History' section and then select the 'OTC' tab.
Identify brokered trades. In the trade history, the Brokered By column will show you which broker was responsible for a particular trade.
Filter your trade history. You can easily find specific trades by using the filters at the top of the page. You can filter by:
OTC Trade Status (e.g., Matched, Approval_Pending, Rejected).
Time Span (e.g., a specific week or a custom date range).