Settlement currency choices that change the sheet
HKD versus USDT settlement is not a cosmetic label — it reshapes how conversion residuals appear.
Hong Kong desks often debate whether to settle an OTC ticket in HKD or keep the stablecoin leg until a later fiat conversion. From a calculator’s point of view, that choice changes where residuals hide.
If settlement is HKD, the conversion must absorb both the crypto–fiat rate and any bank-side FX conventions your ops team uses. We ask for those conventions during intake; otherwise the sheet will disagree with your payment instruction even when the OTC quote was entered correctly.
If settlement stays in USDT (or another stable unit), the conversion sheet should still show an indicative HKD equivalent for internal reporting — clearly labelled as indicative. Mixing an indicative column with a settlement column without labels is a common source of Friday afternoon confusion.
During a Settlement Conversion Check, we print both columns when clients ask, then draw a box around the column that matches the wire. That single visual cue has prevented more than one dual-posting attempt.