> ## Documentation Index
> Fetch the complete documentation index at: https://docs.anchorage.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading

> Request quotes and execute trades via the RFQ system in the Anchorage Digital web dashboard.

The Anchorage Digital RFQ (Request for Quote) system is available 24/7/365 via the web dashboard and API. Quote requests are routed to top dealer desks to obtain the most favorable pricing. Quotes can be requested buy-side, sell-side, or two-way.

Trades settle on a net-settlement basis, typically end-of-day and no later than 24 hours post-trade. Confirmation statements are emailed immediately upon execution.

## Requesting trading access

If the **Trade** tab displays an access message, the user, organization, or both have not been granted trading permissions. Contact Anchorage Digital to request access.

## Trading dashboard features

Once trading permissions are granted, you can:

<CardGroup cols={3}>
  <Card title="Trade execution" icon="arrow-right-arrow-left">
    Request quotes and execute buy, sell, or two-way trades with live 3-second quote windows.
  </Card>

  <Card title="Trade history" icon="clock-rotate-left">
    Access all trade history and view settlement status for open positions.
  </Card>

  <Card title="Execution limits" icon="gauge">
    View execution limits, outstanding amounts, and balances at the account level.
  </Card>

  <Card title="Pre-funded balances" icon="wallet">
    View pre-funded [USD](/knowledge-base/platform/users/usd-banking) (fiat) or digital asset balances at the account level.
  </Card>

  <Card title="Wire transfer information" icon="building-columns">
    View wire instructions to transfer USD to Anchorage Digital for settlement.
  </Card>

  <Card title="Crypto settlement addresses" icon="circle-nodes">
    View blockchain wallet addresses to transfer digital assets to Anchorage Digital.
  </Card>
</CardGroup>

## Requesting a quote and executing a trade

<Steps>
  <Step title="Select a direction and exchange pair">
    Select **Buy**, **Sell**, or **2 way**, then choose the exchange pair.
  </Step>

  <Step title="Enter the trade amount">
    Enter the USD value or asset quantity (e.g., 10 BTC). For two-way quotes, both buy and sell prices are displayed simultaneously.
  </Step>

  <Step title="Execute within the quote window">
    The quote is live for three seconds. Click **Execute buy** or **Execute sell** to execute. Click the refresh button above the execute button at any time to generate a new quote.
  </Step>
</Steps>

## Trade history and settlement status

View trade details and settlement status under the **Trades** tab.

|  Status  | Description                                                                                                    |
| :------: | :------------------------------------------------------------------------------------------------------------- |
| Executed | The trade executed but neither party has sent the settlement amount due.                                       |
| Settling | The client has sent their amount to Anchorage Digital, but the amount due to the client has not yet been sent. |
|  Settled | Both sides have exchanged amounts due and the trade is fully settled.                                          |

## Settlement timing

Settlement runs in a daily window with our liquidity providers, after which proceeds settle to your account. Plan around T+1: under the Hold agreement, trades settle no later than T+1, while legacy A1 agreements can allow longer. Settlement follows this cadence and can't be expedited.

## Cross-entity settlement

If one entity trades and a different entity funds the trade or receives the proceeds, an authorization or instruction letter is required before settlement. Prefunding thresholds are also set per agreement. Both are contract-driven—contact your account team to put them in place.