Settlement Reconciliation

When using trading products at zerohash, an end-of-day (EOD) settlement amount is calculated to reflect your trading activity during the most recent trading session. If the trading activity for the latest trading session is net buy, the platform will need to deliver USD to settle this net amount. For net sell, zerohash will deliver USD to the platform.

Pre-requisite

To carry out the initial funding or topping up of your float account, platforms are required to wire the funds to zerohash with their platform code, along with "FLOAT" to indicate the destination of the funds.

E.g: {platform_code}-FLOAT

Get trading session cut off time

The timezone and cut off time should be discussed with your solutions engineer. If it has not yet been, please reach out and ask them. The default is 12:00:00 AM EST and 11:59:59 PM EST.

Calculate the settlement amount

Option A) Using `GET /trades`

Using the Get /trades endpoint, filter for all the trades that occurred in the latest trading session by using transaction_timestamp[gte] and the transaction_timestamp[lt] params.
Input the most recent cut off time in the transaction_timestamp[lt]field.
- Querying back 24 hours of trading activity if performing settlement reconciliation on Tuesday - Friday.
- Querying back 72 hours on Monday's settlement to account for weekend activity.

Trade States

state	Description
`accepted`	The transactions has been received by zerohash.
`active`	zerohash has attempted to settle the transactions but was unable.
`terminated`	The transaction is in a terminal state, and has a `settlement_state` of either `settled` or `defaulted`. - `settled`means the trade has been fully settled and each counterparty has been credited with the funds owed. - `defaulted` means that the traded could not be settled by the expiry time and is in deemed in default.

Request

GET /trades?platform_code=00SCXM&transaction_timestamp[gte]=<midnight EST>&transaction_timestamp[lt]=\<midnight EST - 24 HOURS>

{
	'platform_code':'00SCXM',
	'transaction_timestamp[gte]': '<midnight EST>',
	'transaction_timestamp[lt]' : '<midnight EST - 24 HOURS',
}

Response

{
  "content": {
    "message": [
      {
        "batch_trade_id": null,
        "trade_id": "372b48f2-e89b-4670-8c77-0b56e899544b",
        "client_trade_id": "5ABCDEF12345",
        "trade_state": "terminated",
        "market_identifier_code": "SCXM",
        "trade_reporter_code": "00SCXM",
        "symbol": "ETH/USD",
        "trade_quantity": "1",
        "trade_price": "4267.64",
        "trade_type": "regular",
        "physical_delivery": true,
        "comment": "",
        "last_update": 1755504424620,
        "transaction_timestamp": 1755504419000,
        "accepted_timestamp": 1755504423740,
        "defaulted_timestamp": null,
        "settled_timestamp": 1755504424599,
        "expiry_timestamp": null,
        "settlement_timestamp": null,
        "settlement_price_index_id": null,
        "contract_size": 1,
        "underlying": "ETH",
        "quoted_currency": "USD",
        "trade_reporter": "00SCXM",
        "platform_code": "00SCXM",
        "product_type": "spot",
        "parties_anonymous": false,
        "bank_fee": null,
        "reporting_party": "00SCXM",
        "settlement_schedule": null,
        "parties": [
          {
            "settling": true,
            "participant_code": "CUST01",
            "side": "buy",
            "asset": "ETH",
            "amount": "1",
            "liquidity_indicator": null,
            "execution_id": "5ABCDEF12345",
            "order_id": "123455ABCDEF",
            "obligations_outstanding_timestamp": null,
            "current_obligations_met_timestamp": null,
            "settlement_state": "settled",
            "client_order_id": "57797.11080386",
            "collateral_percentage": null,
            "account_label": "8a07ce7a-b449-41de-ae10-37f4dec78933",
            "account_profile": "nonprefunded",
            "trader": null,
            "urn": null,
            "commission": "3.84",
            "commission_asset": "USD"
          },
          {
            "settling": true,
            "participant_code": "00SCXM",
            "side": "sell",
            "asset": "USD",
            "amount": "4267.64",
            "liquidity_indicator": null,
            "execution_id": "",
            "order_id": "",
            "obligations_outstanding_timestamp": null,
            "current_obligations_met_timestamp": null,
            "settlement_state": "settled",
            "client_order_id": "",
            "collateral_percentage": null,
            "account_label": "inventory",
            "account_profile": null,
            "trader": null,
            "urn": null
          }
        ],
        "session_id": "20250818080703",
        "fees": [],
        "issuer_fee_rate": null,
        "issuer_fee_amount": null,
        "issuer_fee_payor_type": null,
        "payment_processor": null,
        "network_fee_notional": null,
        "network_fee_quantity": null,
        "total_notional": "4267.64",
        "asset_cost_notional": "4267.64",
        "spread_notional": null,
        "spread_bps": null,
        "origin": null
      },
      {
        "batch_trade_id": null,
        "trade_id": "74adb498-466c-4ff5-9434-04274034a18e",
        "client_trade_id": "7FHGJKTU09876",
        "trade_state": "terminated",
        "market_identifier_code": "SCXM",
        "trade_reporter_code": "00SCXM",
        "symbol": "ETH/USD",
        "trade_quantity": "0.5",
        "trade_price": "4267.64",
        "trade_type": "regular",
        "physical_delivery": true,
        "comment": "",
        "last_update": 1755504424620,
        "transaction_timestamp": 1755504419000,
        "accepted_timestamp": 1755504423740,
        "defaulted_timestamp": null,
        "settled_timestamp": 1755504424599,
        "expiry_timestamp": null,
        "settlement_timestamp": null,
        "settlement_price_index_id": null,
        "contract_size": 1,
        "underlying": "ETH",
        "quoted_currency": "USD",
        "trade_reporter": "00SCXM",
        "platform_code": "00SCXM",
        "product_type": "spot",
        "parties_anonymous": false,
        "bank_fee": null,
        "reporting_party": "00SCXM",
        "settlement_schedule": null,
        "parties": [
          {
            "settling": true,
            "participant_code": "CUST02",
            "side": "buy",
            "asset": "ETH",
            "amount": "0.5",
            "liquidity_indicator": null,
            "execution_id": "7FHGJKTU09876",
            "order_id": "8HJUDJBPOIUHJ",
            "obligations_outstanding_timestamp": null,
            "current_obligations_met_timestamp": null,
            "settlement_state": "settled",
            "client_order_id": "57797.11080386",
            "collateral_percentage": null,
            "account_label": "961abade-6499-4346-bd38-afd5e9b20d8a",
            "account_profile": "nonprefunded",
            "trader": null,
            "urn": null,
            "commission": "3.84",
            "commission_asset": "USD"
          },
          {
            "settling": true,
            "participant_code": "00SCXM",
            "side": "sell",
            "asset": "USD",
            "amount": "2133.82",
            "liquidity_indicator": null,
            "execution_id": "",
            "order_id": "",
            "obligations_outstanding_timestamp": null,
            "current_obligations_met_timestamp": null,
            "settlement_state": "settled",
            "client_order_id": "",
            "collateral_percentage": null,
            "account_label": "inventory",
            "account_profile": null,
            "trader": null,
            "urn": null
          }
        ],
        "session_id": "20250818080703",
        "fees": [],
        "issuer_fee_rate": null,
        "issuer_fee_amount": null,
        "issuer_fee_payor_type": null,
        "payment_processor": null,
        "network_fee_notional": null,
        "network_fee_quantity": null,
        "total_notional": "2133.82",
        "asset_cost_notional": "2133.82",
        "spread_notional": null,
        "spread_bps": null,
        "origin": null
      },
    ],
    "page": 1,
    "total_pages": 1,
    "page_size": 50
  }
}

Once you have all the trades for a trade session, calculate the deliverable amount by:

Add the total_notional field and the commission (if any) field for buy trades.
Sum that amount for all the buy trades.
Subtract the commission (if any) field from the total_notional field for sell trades.
Sum that amount for all the sell trades.
Find the net amount by subtracting the total sell amount from the total buy amount.
If the amount is positive, the platform needs to deliver USD. If the amount is negative, ZH will deliver USD.

Option B) Using `GET /accounts/net_delivery_obligations`

Using GET /accounts/net_delivery_obligations, filter the response where:

{
	'account_group' : 'your_platform_code'
  'account_label' : 'general'
  'asset' : 'USD'
}

This shows the amount you need to deliver to settle the outstanding obligations. If you do not have an NDO, this will return an empty response. Note if a payment is missed, this NDO amount will accrue over time as the total outstanding amount.

Option C) Using zerohash settlement email

zerohash will send an email to platform admins daily specifying the amount that needs to be delivered. Platforms can utilize this email if manually processing the settlement amount or can be used to identify recon breaks.

Deliver/Receive USD

Once the amount has been calculated for the latest trading session, USD will either be delivered by the platform or zerohash will deliver USD.

If a net buy for the platform:

The platform wires zerohash the calculated amount before 12 PM EST. Please include in the memo field your assigned platform code with the word SETTLEMENT.
- E.g.{platform_code}-SETTLEMENT.

If a net sell for the platform:

zerohash wires the platform the calculated amount before 12 PM EST.