OTC transactions are actually a combination of multiple common transactions. See the examples below to understand how to model these properly.
OTC Buy
In a spot trade, you will often see 1) assets transferred to the OTC desk, 2) the trade (buy/sell), and 3) the assets withdrawn.
For a purchase of 100 ETH:
1. USD is deposited to the OTC desk from your account.
2. USD is used to purchase 100 ETH.
3. Assets are withdrawn from the OTC desk. Because this Transfer Out will correspond to a received line item that already exists in your portfolio, Should Reconcile should be set to FALSE.
| Transaction Date | Category | Product ID | Origin Asset | Origin Amount | Destination Asset | Destination Amount | Fee Asset | Fee Amount | Transaction ID | Tx Hash | Sent Address | Received Address | Notes | Should Reconcile |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1/9/2019 13:59:11 PM | Deposit | USD | 20000 | Transfer in USD from your account | TRUE | |||||||||
| 1/9/19 22:17 | Buy | ETH-USD | USD | 20000 | ETH | 100 | (transaction ID) | (insert address) | 1/9/19 Purchase of 115 ETH | TRUE | ||||
| 1/9/19 22:17 | Transfer Out | ETH | 100 | (tx hash) | (insert address) | (insert address) | Transfer out crypto, don't reconcile | FALSE |
OTC Sell
In a spot trade, you will often see 1) assets transferred to the OTC desk, 2) the trade (buy/sell), and 3) the assets withdrawn.
For a sale of 10 ETH:
1. Assets are transferred in to the OTC desk. Because this Transfer In will correspond to a sent line item from your portfolio, Should Reconcile should be set to FALSE.
2. Sale of ETH for USD.
3. USD is withdrawn from the OTC desk back to your account.
| Transaction Date | Category | Product ID | Origin Asset | Origin Amount | Destination Asset | Destination Amount | Fee Asset | Fee Amount | Transaction ID | Tx Hash | Sent Address | Received Address | Notes | Should Reconcile |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11/4/2019 13:14:31 PM | Transfer In | ETH | 10 | (tx hash) | (insert address) | (insert address) | Transfer in crypto, don't reconcile | FALSE | ||||||
| 11/4/19 21:26 | Sell | ETH-USD | ETH | 10 | USD | 1710 | (transaction ID) | (insert address) | Sale of ETH for USD | TRUE | ||||
| 11/4/19 21:26 | Withdrawal | USD | 1710 | Withdrawal fiat to bank | TRUE |
