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Suspense Settlement

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When using trading products at zerohash that operate on a suspense based settlement, 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.

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What is the difference between standard and suspense based settlement?

The key difference between the two settlement type is that for suspense based settlement, suspense trades are created to track the notional of both filled and open orders submitted by customers throughout the trading session whereas standard settlement just tracks the notional on filled orders.

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. For suspense based settlement, a float is needed to encumber funds throughout the trading session.

  • 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.

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.
  • Input one of the following for the transaction_timestamp[gte] 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.

Request

GET /trades?platform_code=<platform_code>&transaction_timestamp[gte]=<start_time>&transaction_timestamp[lt]=<end_time>

{
	'platform_code':'<platform_code>',
	'transaction_timestamp[gte]': '<start_time>',
	'transaction_timestamp[lt]' : '<end_time>',
}

Response

{
  "message": [
    {
      "batch_trade_id": null,
      "trade_id": "bb3c0c60-1d1d-4c71-acba-ee89843652dc",
      "client_trade_id": "387c4983-48cf-3451-b0be-7c1796accd10",
      "trade_state": "accepted",
      "market_identifier_code": "",
      "trade_reporter_code": "00ZHEU",
      "symbol": "USDC.ETH/USD",
      "trade_quantity": "80.8",
      "trade_price": "1",
      "trade_type": "regular",
      "physical_delivery": true,
      "comment": "",
      "last_update": 1764190800936,
      "transaction_timestamp": 1764190800000,
      "accepted_timestamp": 1764190800473,
      "defaulted_timestamp": null,
      "settled_timestamp": null,
      "expiry_timestamp": null,
      "settlement_timestamp": null,
      "settlement_price_index_id": null,
      "contract_size": 1,
      "underlying": "USDC.ETH",
      "quoted_currency": "USD",
      "trade_reporter": "00ZHEU",
      "platform_code": "PLAT01",
      "product_type": "spot",
      "parties_anonymous": false,
      "bank_fee": null,
      "reporting_party": "00ZHEU",
      "settlement_schedule": null,
      "parties": [
        {
          "settling": false,
          "participant_code": "CUST01",
          "side": "buy",
          "asset": "USDC.ETH",
          "amount": "80.8",
          "liquidity_indicator": null,
          "execution_id": "",
          "order_id": "",
          "obligations_outstanding_timestamp": null,
          "current_obligations_met_timestamp": null,
          "settlement_state": null,
          "client_order_id": "",
          "collateral_percentage": null,
          "account_label": "CUST01-label",
          "account_profile": null,
          "trader": null,
          "urn": null
        },
        {
          "settling": true,
          "participant_code": "ZHDSEU",
          "side": "sell",
          "asset": "USD",
          "amount": "80.8",
          "liquidity_indicator": null,
          "execution_id": "",
          "order_id": "",
          "obligations_outstanding_timestamp": null,
          "current_obligations_met_timestamp": null,
          "settlement_state": null,
          "client_order_id": "",
          "collateral_percentage": null,
          "account_label": "suspense",
          "account_profile": null,
          "trader": null,
          "urn": null
        }
      ],
      "session_id": "20251128000000",
      "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": "80.80",
      "asset_cost_notional": "80.80",
      "spread_notional": null,
      "spread_bps": null,
      "origin": null
    },
    {
      "batch_trade_id": null,
      "trade_id": "197a5ccd-fdf8-4b79-81d7-e70ff5fa1b3e",
      "client_trade_id": "d2b2ee50-1069-3fb6-a47e-ca22cc9a36cf",
      "trade_state": "accepted",
      "market_identifier_code": "",
      "trade_reporter_code": "00ZHEU",
      "symbol": "BTC/USD",
      "trade_quantity": "0.001",
      "trade_price": "80000",
      "trade_type": "regular",
      "physical_delivery": true,
      "comment": "",
      "last_update": 1764175306022,
      "transaction_timestamp": 1764175305000,
      "accepted_timestamp": 1764175305877,
      "defaulted_timestamp": null,
      "settled_timestamp": null,
      "expiry_timestamp": null,
      "settlement_timestamp": null,
      "settlement_price_index_id": null,
      "contract_size": 1,
      "underlying": "BTC",
      "quoted_currency": "USD",
      "trade_reporter": "00ZHEU",
      "platform_code": "PLAT01",
      "product_type": "spot",
      "parties_anonymous": false,
      "bank_fee": null,
      "reporting_party": "00ZHEU",
      "settlement_schedule": null,
      "parties": [
        {
          "settling": false,
          "participant_code": "ZHDSEU",
          "side": "buy",
          "asset": "BTC",
          "amount": "0.001",
          "liquidity_indicator": null,
          "execution_id": "",
          "order_id": "",
          "obligations_outstanding_timestamp": null,
          "current_obligations_met_timestamp": null,
          "settlement_state": null,
          "client_order_id": "",
          "collateral_percentage": null,
          "account_label": "suspense",
          "account_profile": null,
          "trader": null,
          "urn": null
        },
        {
          "settling": true,
          "participant_code": "CUST01",
          "side": "sell",
          "asset": "USD",
          "amount": "80.8",
          "liquidity_indicator": null,
          "execution_id": "",
          "order_id": "",
          "obligations_outstanding_timestamp": null,
          "current_obligations_met_timestamp": null,
          "settlement_state": null,
          "client_order_id": "",
          "collateral_percentage": null,
          "account_label": "CUST01-label",
          "account_profile": null,
          "trader": null,
          "urn": null
        }
      ],
      "session_id": "20251128000000",
      "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": "80.00",
      "asset_cost_notional": "80.00",
      "spread_notional": null,
      "spread_bps": null,
      "origin": null
    }
  ],
  "page": 1,
  "total_pages": 1,
  "page_size": 50
}

Once you have all the trades:

  1. To calculate the buy amount for the session:
    1. Get the trades in the response where party 0 account_label = suspense and party 0 side = buy
    2. Sum the party 1 amount
  2. To calculate the sell amount for the session:
    1. Get the trades in the response where party 1 participant_code = suspense and party 1 side = sell
    2. Sum the party 1 amount
  3. Note for both buy and sell trades we are taking the party 1 amount.
  4. Find the net amount by subtracting the total sell amount from the total buy amount.
  5. If the amount is positive, the platform needs to deliver USD. If the amount is negative, ZH will deliver USD.

Option B) 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 EOD 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 EOD.

Updated about 3 hours ago