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

# Console

> How your treasury team creates orders, reviews quotes, and tracks settlements in the Musubi institution console.

The Musubi institution console is a web UI your treasury team logs into. It handles order creation, quote comparison, and settlement tracking. This page describes the day-to-day console workflow; for the protocol-level view of what happens end-to-end, see [Settlement Flow](/institution/settlement-flow).

<Note>
  For institutions wiring Musubi into a TMS or ERP (Kyriba, SAP, Oracle) or automating order initiation behind a custom workflow, see [Programmatic Access](/institution/integration/programmatic-access).
</Note>

## Who uses the console

Typical treasury team mapping:

| Role in your org                         | What they do in the console                                                   |
| ---------------------------------------- | ----------------------------------------------------------------------------- |
| **Initiator** (treasury operations)      | Creates FX orders, enters amount + counterparty, selects accepted quote       |
| **Approver** (treasury lead or reviewer) | Reviews unusual orders before acceptance if your policy requires dual control |
| **Observer** (finance / accounting)      | Tracks settled volume, pulls statements, reconciles against the GL            |

Role-based access maps to your existing JWT claims; your IdP decides who can initiate vs. approve vs. read-only.

## Create an order

The order creation form captures the fields required to broadcast to market makers:

| Field                                | Source                                                                        |
| ------------------------------------ | ----------------------------------------------------------------------------- |
| Counterparty institution + custodian | Your counterparty directory — the console can search by name or Party ID      |
| Target currency + amount             | Your payment instruction (receiver-fixed: you specify what the receiver gets) |
| Source currency                      | Your holdings with your custodian                                             |
| Cost guard (`source_amount_max`)     | Your FX risk policy — the maximum source amount you're willing to pay         |
| Memo                                 | Free-form payment description (remittance info)                               |

On submit, the order lands in `PENDING` status and an anonymized RFQ goes out to market makers. Market makers see the currency pair and amounts but not your identity.

## Quote inbox

Market makers submit competing quotes over the next few seconds. The console shows them side-by-side:

* FX rate, source amount, target amount
* Validity window (each quote has its own expiry, typically 30 seconds)
* Whether each quote satisfies the cost guard (green if within, red if over)
* Comparison against mid-market rate for best-ex documentation

Your initiator (or approver, if dual control) picks the best quote.

## Accept a quote

Selecting a quote triggers acceptance. Your acceptance alone doesn't move assets — your custodian's co-signature is also required, which they provide from their [custodian console](/custodian/integration/console). The institution console surfaces this: the order shows `QUOTED — awaiting custodian co-sign` until both signatures are in.

Once co-signed, settlement proceeds automatically. The order transitions `QUOTED → EXECUTING → SETTLED` over roughly four seconds.

## Settlement tracking

The console shows order status in real time. Typical progression:

* `PENDING` — awaiting quotes (up to `expires_at`)
* `QUOTED` — quote accepted, awaiting final settlement
* `EXECUTING` — atomic DvP in progress
* `SETTLED` — complete, with `transaction_hash` and final amounts

Order detail view includes everything you need for the accounting handoff: executed rate, source amount actual, settlement hash, settled timestamp, counterparty identities.

## Dashboard

The home dashboard shows:

| Panel               | What it tells you                                                  |
| ------------------- | ------------------------------------------------------------------ |
| **Recent orders**   | Last N orders with status and key amounts                          |
| **Settled volume**  | Daily / weekly / monthly settled volume by currency pair           |
| **Open orders**     | Active `PENDING` / `QUOTED` / `EXECUTING` orders needing attention |
| **Best-ex tracker** | Quoted rates vs. mid-market rate across recent trades              |

## Cancelling or rejecting

If something changes after creation but before acceptance, the initiator can cancel a `PENDING` or `QUOTED` order from the order detail view. Once settlement is in progress (`EXECUTING`) or complete (`SETTLED`), the order is immutable.

## Next steps

* Reconciliation into your accounting — see [Statements](/institution/integration/statements)
* Conceptual view of the whole trade lifecycle — see [Settlement Flow](/institution/settlement-flow)
* Custom treasury automation — see [Programmatic Access](/institution/integration/programmatic-access)