Create Internal Switch Order

Introduction

An Internal Switch Order is a special type of non-trade order. You can use it when you need to move a certain amount of money within a client’s virtual bank account and return it through a different bank. This feature is available only for virtual client accounts and is mostly used by the Back Office.

Key Terminologies

Term (A-Z)	Definition
Client Portfolio	A portfolio linked to an individual client where internal switch orders can be initiated.
Custodian	The bank or financial institution where client and omnibus accounts are held.
Investment (internal)	A client-level transaction created to show funds being added as part of the internal switch.
Omnibus Order	The main order created at omnibus level, covering all linked client internal switch operations.
Omnibus Portfolio	A portfolio that consolidates client holdings under a single custodian, used for order management.
Virtual Bank Account	A simulated bank account within the platform, linked to a client’s portfolio, used for internal switch operations.
Withdrawal (internal)	A client-level transaction created to show funds being deducted as part of the internal switch.

👉 New to some terms? Check our full Platform Glossary for quick definitions.

Permission Requirements

Platform Name	Permission ID	Permission Level
Orders (tab)	Orders	View, Modify, Create, Delete
Non Trading Orders	Orders non trade	View, Modify, Create, Delete

Where to Create an Internal Switch Order

You can create an Internal Switch Order from either:

Go to Portfolios → Find Orders tab → Click on + icon

Go to Transactions → Find Orders tab → Click on + icon

Example: Internal Switch Flow

Here’s a visual example:

To help you better understand how an Internal Switch works:

How to Fill in the Internal Switch Order Form

You can initiate an Internal Switch Order either:

From an Omnibus Portfolio, or
Directly from a Client Portfolio.

Step 1 – Fill in Basic Details

Choose the Omnibus Portfolio from which you want to initiate the Internal Switch.
Confirm or select the user responsible for creating the order.

Select the Bank Account, Currency and Amount you need.

The platform will display the total amount available on the omnibus bank account related to the chosen virtual bank account.

Then, select the Virtual Bank Account(s) from which this amount will be returned.

Detailed Fields Table Here:

Field Name	Definition
Portfolio(*)	The Omnibus Portfolio from which the Internal Switch is initiated.
Order Initiator(*)	The user responsible for creating the Internal Switch Order.
To Bank Account(*)	The Omnibus Bank Account that will receive the total switch amount.
Bank Name(*)	The bank associated with the selected To Bank Account.
Currency	The currency in which the switch is executed.
Amount(*)	The amount required for the Internal Switch.
Total Amount	The total omnibus balance available for the selected currency across all accounts.
Search Portfolio / Bank Account / Account	Search bar for Client Bank Accounts that will provide the funds.
Available Cash (Client)	Balance available in the Client Bank Account.
Available All Cash	Maximum available balance across related Client Bank Accounts.
Transfer Amount	The amount allocated from each Client Bank Account to fund the Internal Switch.

Step 2 – Platform Auto-Fills the Internal Switch

Based on the details you entered in Step 1, the platform will automatically set up the key parts of the Internal Switch:

From which Custodian(s) the cash will be withdrawn, and
To which Client(s) the cash will be allocated.

Detailed Fields Table Here:

Field Name	Definition
Portfolio	Select the portfolio from which you are initiating the Internal Switch.
Order Initiator	The user responsible for creating the order.
To Bank Account	The Virtual Bank Account where the funds will be allocated (destination).
Bank Name (To)	The bank associated with the To Bank Account.
Amount (To)	The amount of cash that will be allocated to the To Bank Account.
From Bank Account	The Virtual Bank Account from which the funds will be withdrawn (source).
Bank Name (From)	The bank associated with the From Bank Account.
Amount (From)	The amount of cash to be withdrawn from the From Bank Account.
Client Bank Account (From)	The specific client-level bank account used as the withdrawal source.
Amount(*)	The amount linked to the Client Bank Account being withdrawn.
Client Bank Account (To)	The specific client-level bank account used as the allocation destination.
Available Cash	The available balance in the selected Client Bank Account (From), shown for validation.
Currency	The transaction currency.
Total Amount	The overall transaction amount requested for the Internal Switch.
Add Internal Switches	Option to add additional internal switch pairs of “From” and “To” Virtual Bank Accounts.

The Omnibus Bank Account balances remain unchanged throughout this process.

Order Creation Process

When you click Create Order, the platform will generate:

One Omnibus Order → related to the Virtual Bank Account that requires the investment.

Linked Client Orders → representing both Investment (internal) and Withdrawal (internal) transactions, grouped within the relevant Custodian.

You will see:

Omnibus Order – the main order.
Related Orders – 1 withdrawal + 1 investment for each internal switch.

Executing the Order

Execute the Internal Switch Order from the Omnibus Order form.

Select the responsible user who will be assigned to this order.
Then, click Start Working to begin processing the order.

Fill in all required fields(*) and click Submit.

Partial fills are not available.

Detailed Fields Table Here:

Field

Definition / How to Use

Order Sent By

Choose the method by which the order was initiated. Options include:

PHONE
EMAIL
BLOOMBERG
ELECTRONIC
OTHER
QUIK

Trade Time (*)

Enter the exact time when the trade is agreed/initiated.

Value Date (*)

Based on trade time selection, it auto-fills.

Once submitted, the order will automatically:
- Be filled and closed with status Done at both Omnibus and Client levels.

What the Platform Creates

Omnibus Level
- Order only (No transactions created here).
Client Level
- Order + transactions:
  - Investment (internal)
  - Withdrawal (internal)
- Both transactions are grouped under a parent Payment (internal) for reconciliation.