> ## Documentation Index
> Fetch the complete documentation index at: https://public-openfx.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Definitions for the vocabulary: resources, headers, status enums, and concepts used across the spec.

A single-page reference for v3 vocabulary. Terms are alphabetical; each links out to the page that uses it in context.

## A

**Account**
The identity of a person or organization you move money to or on behalf of, plus its payout capabilities. An `Account` holds no money; a `FinancialAccount` holds the funds. See [Account model](/v3/account-model).

**Atomic execution**
A trade either succeeds at the quoted rate or fails; there is no partial fill. See [Trades](/v3/trades#state-machine).

## B

**Balance**
The per-currency record returned by [`GET /v3/fx/balances`](/v3/api-reference/trade-settlement/list-balances). One row per currency, carrying `withdrawableBalance` and `totalBalance`. The response also carries an `aggregate` block with the org's net equity across all currencies, converted to USD.

**Bearer token**
The JWT passed in `Authorization: Bearer <jwt>`. ES256-signed, 60s TTL, single-use. Every request also carries a body-bound `X-Request-Signature` header. See [Authentication](/v3/authentication).

## C

**Capability**
Permission for an account to receive payouts in a currency or act as a payout's sender. Each `AccountCapability` has an opaque id, read-only coverage details, and its own status. See [Capabilities](/v3/capabilities).

**Cursor pagination**
v3's pagination model: `startingAfter` / `endingBefore` with stable IDs. No `page` / `offset` integers. See [Pagination](/v3/pagination).

**Cut-off**
The latest time OpenFX submits a fiat withdrawal to a rail on the same banking day. Submissions after the cut-off roll to the next banking day. Tables in [Settlement times](/v3/settlement-times).

## D

**Deposit**
Incoming funds (fiat wire or on-chain stablecoin transfer) observed by OpenFX and (once cleared) credited to your balance. Read via [`GET /v3/fx/deposits`](/v3/api-reference/trade-settlement/list-deposits). See [Deposits](/v3/deposits).

## E

**ES256**
The ECDSA signature algorithm OpenFX uses to sign JWTs (and validate yours). Asymmetric: your private key signs, OpenFX validates with the public key on file. See [Authentication](/v3/authentication).

**`expiresAt`**
On a `Quote`, the wall-clock at which the quoted rate is no longer executable. Default 3 seconds from creation; configurable via `quoteForSeconds` (standard durations: <span class="ofx-enum">3</span>, <span class="ofx-enum">15</span>, <span class="ofx-enum">30</span>, <span class="ofx-enum">45</span>, <span class="ofx-enum">60</span>). See [Quotes → Quote lifecycle](/v3/quotes#quote-lifecycle).

**Exposure limit**
The amount of unsettled trades your organization can have open at one time. You can execute trades up to this limit and settle them before you withdraw. Read via [`GET /v3/fx/exposures`](/v3/api-reference/exposure/get-exposure-summary). See [Exposure](/v3/exposure).

## F

**Financial account**
A balance your organization holds with OpenFX that can fund a payout. The payout debits `financialAccountId`; the recipient is identified separately through `receiver.payoutAddressId`. See [Account model](/v3/account-model#the-four-resources).

## I

**Idempotency-Key**
Client-generated UUID (or any unique string) passed on state-changing requests. A retry with the same key returns the cached result instead of executing the operation twice. **Required** on every write; returns `428` <span class="ofx-enum">IDEMPOTENCY\_KEY\_MISSING</span> per RFC 6585 when omitted. See [Idempotency](/v3/idempotency).

**Idempotency-Replayed**
Response header emitted on every response from idempotent endpoints (`POST /quotes`, `POST /trades`, `POST /withdrawals`). `true` on a cache hit (the body is replayed from a prior request with the same key); `false` on a fresh execution. Always present on these three endpoints; omitted on GETs. See [Idempotency → How to tell a replay from a fresh execution](/v3/idempotency#how-to-tell-a-replay-from-a-fresh-execution).

## J

**JWT (JSON Web Token)**
The bearer token format v3 uses for authentication. ES256-signed, 60s TTL, single-use (server-enforced nonce uniqueness). Mint a fresh one per request and pair it with a freshly computed `X-Request-Signature` header. See [Authentication](/v3/authentication).

## N

**Naming conventions**
Three layers, three rules. JSON field keys are `camelCase` (`withdrawalAccountId`, `buyAmount`, `createdAt`). URL path segments are `kebab-case` (`/v3/fx/withdrawal-accounts`, `/v3/fx/pairs`). Type / schema / resource names are `PascalCase` in prose and OpenAPI components (`WithdrawalAccount`, `Trade`, `Quote`). HTTP headers keep their HTTP-spec form (`X-Trace-Id`, `Idempotency-Key`). Same split used by Stripe, Plaid, Twilio.

**`network`**
On a `Deposit` or `Withdrawal`, the settlement network or rail (e.g. <span class="ofx-enum">ETHEREUM</span> for a stablecoin movement, <span class="ofx-enum">FIAT</span> for a bank-rail movement). See [Supported networks](/v3/supported-networks) for the stablecoin chain matrix.

## P

**Pair**
A tradable `(buyCurrency, sellCurrency)` combination with `minTradeAmount` and `maxTradeAmount` (denominated in `sellCurrency`). Listed via [`GET /v3/fx/pairs`](/v3/api-reference/trade/list-currency-pairs). See [Currencies](/v3/currencies) for the platform-wide set.

**Payout**
Money sent from one of your financial accounts to a recipient's payout address. A payout starts in <span class="ofx-enum">REQUIRES\_CONFIRMATION</span> without moving funds; you confirm it to accept the priced payout. Unlike a first-party withdrawal, a payout can pay someone else's bank account. See [Payouts](/v3/payouts).

**Payout address**
A recipient's registered bank destination, represented by `PayoutAddress` and owned by an `Account`. It is separate from a verified withdrawal account. To correct an address, create a replacement and archive the old one. See [Account model → Payout addresses](/v3/account-model#payout-addresses).

**Payout quote**
An immutable, time-bounded price snapshot that moves no funds. Pass its id as `quoteId` to create a payout from that price, or create an inline-priced payout without a separate quote. See [Payouts](/v3/payouts).

<span id="status-enums" />

**Status enums**
Different resources expose different status values.

| Resource | Values |
| - | - |
| Trade | <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">LOCKED</span>, <span class="ofx-enum">READY\_TO\_SETTLE</span>, <span class="ofx-enum">EXECUTED</span>, <span class="ofx-enum">REVERSED</span> |
| Deposit | <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">COMPLETED</span>, <span class="ofx-enum">REJECTED</span>, <span class="ofx-enum">ERROR</span> |
| Withdrawal | <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">COMPLETED</span>, <span class="ofx-enum">CANCELLED</span> |
| WithdrawalAccount | <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">ACTIVE</span>, <span class="ofx-enum">ARCHIVED</span>, <span class="ofx-enum">REJECTED</span>, <span class="ofx-enum">DEACTIVATED</span>, <span class="ofx-enum">ADDITIONAL\_ACTION\_NEEDED</span> |
| Quote | <span class="ofx-enum">ACTIVE</span>, <span class="ofx-enum">EXPIRED</span>, <span class="ofx-enum">CONSUMED</span> |
| Account, AccountCapability, PayoutAddress | <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">ACTIVE</span>, <span class="ofx-enum">REJECTED</span>, <span class="ofx-enum">REQUIRES\_INFORMATION</span> |
| Payout | <span class="ofx-enum">REQUIRES\_CONFIRMATION</span>, <span class="ofx-enum">ACCEPTED</span>, <span class="ofx-enum">PROCESSING</span>, <span class="ofx-enum">IN\_REVIEW</span>, <span class="ofx-enum">PROCESSED</span>, <span class="ofx-enum">RETURNED</span>, <span class="ofx-enum">FAILED</span>, <span class="ofx-enum">CANCELLED</span>, <span class="ofx-enum">EXPIRED</span> |

For payouts, <span class="ofx-enum">PROCESSED</span> is not terminal: funds can still be returned. The terminal states are <span class="ofx-enum">RETURNED</span>, <span class="ofx-enum">FAILED</span>, <span class="ofx-enum">CANCELLED</span>, and <span class="ofx-enum">EXPIRED</span>. See [Payouts](/v3/payouts) and [Account model](/v3/account-model#the-shared-state-machine).

Trades terminate at <span class="ofx-enum">EXECUTED</span> or <span class="ofx-enum">REVERSED</span>; <span class="ofx-enum">LOCKED</span> and <span class="ofx-enum">READY\_TO\_SETTLE</span> are transitional states on a future-dated (<span class="ofx-enum">T1</span>/<span class="ofx-enum">T2</span>) trade. Deposits terminate at <span class="ofx-enum">COMPLETED</span>, <span class="ofx-enum">REJECTED</span>, or <span class="ofx-enum">ERROR</span>. Withdrawals terminate at <span class="ofx-enum">COMPLETED</span> or <span class="ofx-enum">CANCELLED</span>. All documented values are **UPPERCASE**, consistent with currency codes (<span class="ofx-enum">USD</span>, <span class="ofx-enum">EUR</span>), network identifiers (<span class="ofx-enum">ETHEREUM</span>, <span class="ofx-enum">SOLANA</span>), and error codes (<span class="ofx-enum">TRADE\_NOT\_FOUND</span>) elsewhere in v3. See [Trades](/v3/trades#state-machine), [Deposits](/v3/deposits), and [Withdrawals](/v3/withdrawals).

## Q

**Quote**
A binding rate returned by [`POST /v3/fx/quotes`](/v3/api-reference/trade/create-quote). Single-execution: pass the `id` to `POST /v3/fx/trades` before `expiresAt`. Retrievable by ID for 2 days from `createdAt`; see [Quotes → Retrieving a quote](/v3/quotes#retrieving-a-quote).

## R

**Rail**
The fiat settlement system a withdrawal or payout travels through (e.g. Fedwire, SWIFT, SEPA, SPEI, FPS, PIX, NPP, UAEFTS). For withdrawals, it is bound to the verified withdrawal account and reported as `WithdrawalAccount.rail`. For payouts, the platform selects the rail and reports it on the quote and payout. CHAPS is a withdrawal settlement route that OpenFX chooses; it is not a `WithdrawalAccount.rail` value. See [Settlement times](/v3/settlement-times) and [Payouts](/v3/payouts#supported-payout-currencies).

**Receiver**
The account being paid, identified on a payout through `receiver.payoutAddressId`. The address belongs to that account, so you do not name its account id separately. See [Account model → Roles on a payout](/v3/account-model#roles-on-a-payout).

**`reference_amount` / `reference_currency`** *(v2, removed in v3)*
v2 quote-create indirection: client passed an amount plus the currency it was denominated in. **Removed in v3**; the v3 quote request supplies exactly one of `buyAmount` or `sellAmount` directly.

**Routing family**
The `routingFamily` on a payout address determines which bank details it needs, such as an IBAN for SEPA or a CLABE for Mexico. It is not the same as the settlement rail selected for a payout. See [Account model → Payout addresses](/v3/account-model#payout-addresses).

## S

**Sandbox**
The OpenFX test environment. Same base URL (`api.openfx.com`) as Live; each API key is bound to one environment, and Sandbox keys carry a `sandbox_` prefix. `X-App-Mode` must match the key's environment and defaults to <span class="ofx-enum">SANDBOX</span> when omitted. See [Environments](/v3/environments).

**Sender**
An account on whose behalf you make a payout, distinct from the recipient. Funds still come from your financial account. Only INR payouts support a sender; it needs an active sending capability. See [Account model → Roles on a payout](/v3/account-model#roles-on-a-payout).

**Stablecoin**
Fiat-pegged crypto assets supported on v3: <span class="ofx-enum">USDC</span>, <span class="ofx-enum">USDT</span>, <span class="ofx-enum">EURC</span>. Each is tradable, depositable, and withdrawable on one or more chains. See [Currencies → Stablecoins](/v3/currencies#stablecoins).

## T

**Timestamps**
All v3 timestamps are ISO 8601 UTC with millisecond precision: `YYYY-MM-DDTHH:mm:ss.sssZ` (e.g. `2026-04-28T10:00:00.000Z`). The trailing `Z` is required. Always parse as UTC; convert to a local zone only at display time.

**`totalBalance`**
Total funds held in a currency on a `Balance` row, including any amount earmarked against pending operations. Ordinarily `withdrawableBalance` ≤ `totalBalance`, but `totalBalance` can itself go negative if the org owes a settlement in that currency; in that case `withdrawableBalance` is `0`. The held portion is the difference `totalBalance − withdrawableBalance` (when `totalBalance` is non-negative) and is not broken out as a separate field in v3. See [Amounts → Balance lifecycle](/v3/amounts#balance-lifecycle-available-vs-total).

**Trade**
The execution of a quote. Status progresses through <span class="ofx-enum">PENDING</span>, <span class="ofx-enum">LOCKED</span> (future-dated only), and <span class="ofx-enum">READY\_TO\_SETTLE</span> (future-dated, manual settlement only) to a terminal <span class="ofx-enum">EXECUTED</span>, or to <span class="ofx-enum">REVERSED</span> if unwound before settlement. See [Trades](/v3/trades#state-machine).

**Trade Settlement**
The v3 surface that covers balances, deposits, withdrawals, and verified withdrawal accounts. Sits under `/v3/fx/`. See [Settlement models](/v3/settlement-models).

**`transactionHash`**
The on-chain transaction hash of a stablecoin deposit or withdrawal. Null until the transaction is broadcast, and always null on fiat movements.

## W

**Webhook**
A signed HTTP POST OpenFX sends to your endpoint when an event occurs. The envelope carries `type` (the resource noun, e.g. `"withdrawals"`), `eventType` (the product-prefixed event name, e.g. `"fx.withdrawal.completed"`), `id`, `createdAt`, and a single `data` object: close to, but not identical to, the resource's v3 REST shape (`data.status: "COMPLETED"`, camelCase keys, string amounts), not an array. HMAC-SHA256 signed via the `X-OpenFX-Signature` header. See [Webhook authentication](/v3/webhooks/authentication) and [Webhooks setup](/v3/webhooks/setup).

**Verified withdrawal account**
A pre-configured bank account or on-chain address that withdrawals can settle to. Created via the dashboard; referenced by `withdrawalAccountId` on withdrawals. The rail or chain is bound to the withdrawal account at creation. See [Verified accounts](/v3/verified-accounts).

**Withdrawal**
An outgoing transfer initiated via [`POST /v3/fx/withdrawals`](/v3/api-reference/trade-settlement/create-withdrawal). Same endpoint covers fiat and stablecoin; the rail is resolved server-side from the referenced withdrawal account. See [Withdrawals](/v3/withdrawals).

**`withdrawalAccountId`**
The ID (`wac_` prefix; a bare UUID is also accepted on input) of the verified withdrawal account a withdrawal settles to: either a fiat bank account or a stablecoin wallet. Created in the [OpenFX dashboard](https://app.openfx.com), read via [`GET /v3/fx/withdrawal-accounts`](/v3/api-reference/trade-settlement/list-withdrawal-accounts), and supplied on `POST /v3/fx/withdrawals`. Carries the rail/chain, so the request body never names a network. Renamed from the v2 request field `withdrawalAddressId`. See [Verified accounts](/v3/verified-accounts).

**`withdrawableBalance`**
Funds usable right now for trades or withdrawals: on a `Balance` row (per currency) or on the response's `aggregate` block (org-wide net equity in USD). Never negative; `0` when the corresponding `totalBalance` (or the org's overall net position) is negative. Renamed from `availableBalance`. See [Amounts → Prefix vocabulary](/v3/amounts#prefix-vocabulary).

## X

**`X-Trace-Id`**
Response header carrying a per-request trace ID. Include it in support requests; capture it on the success path too. See [Metadata and tracing](/v3/metadata-and-tracing).

## What's next

<CardGroup cols={2}>
  <Card title="Payouts" icon="https://public-assets.openfx.com/docs/icons/withdrawals.svg" href="/v3/payouts">
    Recipient setup, payout pricing, confirmation, and settlement.
  </Card>

  <Card title="Currencies" icon="https://public-assets.openfx.com/docs/icons/currencies.svg" href="/v3/currencies">
    Fiat + stablecoin platform tables.
  </Card>

  <Card title="Supported networks" icon="network-wired" href="/v3/supported-networks">
    Per-stablecoin chain matrix.
  </Card>

  <Card title="Settlement times" icon="https://public-assets.openfx.com/docs/icons/settlement-times.svg" href="/v3/settlement-times">
    Fiat-rail cut-off tables.
  </Card>

  <Card title="Errors" icon="https://public-assets.openfx.com/docs/icons/errors.svg" href="/v3/errors">
    Stable error codes and the retry triage matrix.
  </Card>
</CardGroup>