User-Driven Ability to Select Sides to Settle
The following are upcoming changes that will be released once adequate user testing has been received by clients. We will be in touch about a final release date.
Update: the changes were successfully deployed on 2020-10-16.
The goal is to enable platforms to autonomously select, per trade, which sides should be settled through and by Zero Hash.
API Updates
Zero Hash is introducing a new boolean (true/false) field called settling on its trade-related endpoints to determine whether Zero Hash will settle the asset being received by a particular side of a trade, into that side’s account. When included as true on one party, the other side must settle through Zero Hash to deliver the asset to that original party. If not included, this field will default to true. Note: at least one side must be settling.
API changes:
- A new mandatory field called
settling
that can be included per party on the POST /trades request - The
settling
field will be returned in thePOST /trades
response per party. - The
settling
field will be returned in theGET /trades
request per party. - The
settling
field will be returned in theGET /trades/:id
request per party.
Note: Zero Hash had previously enforced these settings for some clients internally. This will no longer be done and this will instead be entirely managed by the trade submitter.
Settling Buyer Only
Including "settling":true
on the buy-side of a trade and "settling":false
on the sell-side means that Zero Hash will settle only the buy side asset from the seller into the buyer’s account, which therefore means the seller must settle. The false
flag on the sell-side indicates that Zero Hash will not settle any assets into the seller.
Example
"parties":[
{
"participant_code":"BUYER1",
"asset":"BTC",
"amount":"1.00",
"side":"buy",
"settling":true
},
{
"participant_code":"SELLER",
"asset":"USD",
"amount":"10000.0000",
"side":"sell",
"settling":false
}
Result
Zero Hash will settle 1 BTC from seller to buyer. Zero Hash will not settle any USD from buyer to seller.
Settling Seller Only
As you might expect, this is the opposite scenario to the one described above.
Including "settling":true
on the sell-side of a trade and "settling":false
on the buy-side means that Zero Hash will settle only the sell side asset from the buyer into the seller's account, which therefore means the buyer must settle. The false
flag on the buy-side indicates that Zero Hash will not settle any assets into the buyer.
Example
"parties":[
{
"participant_code":"BUYER1",
"asset":"BTC",
"amount":"1.00",
"side":"buy",
"settling":false
},
{
"participant_code":"SELLER",
"asset":"USD",
"amount":"10000.0000",
"side":"sell",
"settling":true
}
Result
Zero Hash will settle $10,000 from buyer to seller. Zero Hash will not settle any BTC from seller to buyer.
Settling Both - this is the default case.
Including "settling":true
on the both buy
side and the sell
side of a trade means that Zero Hash will settle both assets using its standard Delivery-Versus-Payment methodology. Both the buyer and the seller must settle through Zero Hash.
Example
"parties":[
{
"participant_code":"BUYER1",
"asset":"BTC",
"amount":"1.00",
"side":"buy",
"settling":true
},
{
"participant_code":"SELLER",
"asset":"USD",
"amount":"10000.0000",
"side":"sell",
"settling":true
}
Result
Zero Hash will settle $10,000 from buyer to seller at the same time as it settles 1 BTC from seller to buyer.
Portal Updates
As with the API, users may select which side to settle via the portal's trade submission page. You can see a screenshot of what that looks like below:

The logic for settling one side or both is the same as described above in the API Updates section. Note: at least one side must be settling.