(1) The inquiry line enters the trading system. The inquiry bank calls the other bank by telephone or telex, or enters its terminal password and the code of the other bank on the terminal of trading system such as Reuters to make a call, and shall state its line number after being connected.

(2) Ask the inquiry bank. The inquiry contents include the name of buying and selling currency, transaction amount, delivery date, etc. , and ask the quotation line to quote. The buying price of the inquiry line is the selling price of the quotation line, and vice versa.

(3) Quotation line quotation. The quotation bank shall quickly quote the buying price and selling price of a certain currency according to the requirements of the inquiry bank. For quotations that cannot be given directly and need simple calculation, the quotation line can ask the inquiry line to wait, but the time cannot be too long. The bid price of the quotation line is the selling price of the inquiry line, and vice versa.

(4) get it. The inquiry bank first indicates the price and amount of buying or selling a certain currency, and then the quotation bank accepts the inquiry bank's request and makes a commitment, which means that the transaction is completed.

(5) confirm. After the transaction is concluded, it needs to be confirmed by both parties. The general method is that the quotation bank repeats the exchange rate, amount and delivery date of a certain currency that the inquiry bank requires to buy or sell, and puts forward the capital settlement instruction. At the same time, the inquiry bank also puts forward its own fund settlement instructions to the quotation bank.

(6) delivery or settlement. That is, according to the requirements of the other party, both parties to the transaction timely and accurately remit the money sold to the bank deposit account designated by the other party.