OTC trade (block trade)

An exchange operation that is not subjected to price slippage due to a workflow different from trading in a trading venue: the user cannot see the combined asset volume offered at a given price—instead, sellers offer guaranteed prices (or indicatives) for the entire operation amount. So, the user’s operation cannot consume some shared volume changing its average price, the price is the same to all amount.

Fixed rate

a fixed rate that is frozen for the user for 30 seconds following a fixed rate request.

Indicative market rate

a market rate that is valid at the moment of quotation and can become outdated shortly after that due to price spillage.