Banking Back-Office Processing Stock Exchange and Securities Settlement Guide
Copyright 2001, Unisys Corporation. All rights reserved Unisys is a trademark of Unisys Corporation Release 9.000
October 2003 Printed in the UK 3937 1000-930
The names, places, and/or events used in this publication are not intended to correspond to any individual, group, or association existing, living or otherwise. Any similarity or likeness of the names, places and/or events with the names of any individual, living or otherwise, or that of any group or association is purely coincidental and unintentional. NO WARRANTIES OF ANY NATURE ARE EXTENDED BY THIS DOCUMENT. Any product and related material disclosed herein are only furnished pursuant and subject to the terms and conditions of a duly executed Program Product License or Agreement to purchase or lease equipment. The only warranties made by Unisys, if any, with respect to the products described in this document are set forth in such License or Agreement. Unisys cannot accept any financial or other responsibility that may be the result of your use of the information in this document or software material, including direct, indirect, special or consequential damages. You should be very careful to ensure that the use of this information and/or software material complies with the laws, rules, and regulations of the jurisdictions with respect to which it is used. The information contained herein is subject to change without notice. Revisions may be issued to advise of such changes and/or additions. All registered trademarks are acknowledged. Correspondence regarding this publication should be forwarded to Unisys Corporation, Bakers Court, Bakers Road, Uxbridge, Middlesex, UB8 1RG, United Kingdom.
About This Guide Purpose This guide describes the Stock Exchange and Securities Administration modules of the Unisys e-@ction Banking Back-Office Processing product. The information contained in this guide is also available as online help.
Scope The guide describes the stock exchange and securities settlement functionality and the associated data entry screens. Examples of the screens are shown and instructions for use are given.
Audience This guide is for personnel preparing information for data entry.
Prerequisites The audience should understand banking terminology. Users of this guide should have read the Starter’s Guide, which provides instruction in the use of the system.
How To Use This Guide This guide should be used as a reference tool when preparing information for data entry. Use the guide in conjunction with a copy of your Guide to Setting Up and the Core Functions and Inquiries Guide. Refer to the On-Demand Reports Guide for instructions on how to select and run the reports that provide this information.
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About This Guide
About Urbis The usage of the product name Urbis is due to be phased out as part of the Unisys re-branding exercise. The replacement will be the generic term "Banking Back-Office Processing" solution or "Banking Back-Office" for short. To provide continuity with existing product documentation, the name Urbis is used within this document, but is synonymous with Banking Back-Office Processing.
Organisation This guide consists of eight sections. Section 1. Introduction to Stock Exchange and Securities Settlement This section provides an introduction to the stock exchange securities, and their usage. Section 2. Static Data This section describes the screens associated with entering static data relevant to stock exchange securities. Section 3. Securities Instruments Maintenance This section describes the screens associated with entering and maintaining information in the securities master file. Section 4. Corporate Actions This section describes the screens used to process stock market events that affect the holdings in portfolios. Section 5. Alerts and Notes This section describes the screens used to create notes and alerts, and the screen used to manage those that have been created. Section 6. Entering and Inquiring on Stock Exchange Contracts This section describes the screens used to enter contracts based on stock exchange securities, and the screens used to manage these contracts
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Section 7. Setting Up Transaction Models This section describes the screens associated with the settlement of stock exchange securities contracts. This includes creating transaction event diaries, and the messages sent and received during the settlement process. Section 8. Definition of Field Names This section defines all field names on the screens appearing in this guide. The fields are listed in alphabetical order
Related Product Information Product Overview (3937 0234) This document describes the capabilities and benefits of the modules of the Banking Back-Office Processing system. It consists of an overview of the system, and a description of each of the modules and interfaces available. It is intended for use by senior management. Operations Reference Card (3937 0986) This document is a single card that provides a list of screen names and their mnemonics. The list is organised according to the menu structure of the Graphical User Interface. The card also describes how to log on and off the system, enter data, make inquiries and print reports. These instructions are relevant to the Graphical User Interface only. Starter’s Guide (3937 0531) This guide describes how to enter data and make online inquiries. It also includes a description and example of commonly used data entry and inquiry screens. This guide is intended for all new and inexperienced personnel who need to enter data and make inquiries. Guide to Setting Up (3937 0945) This guide describes how to set up parameters that govern the operating environment of the system. It describes the procedures for setting up the business and operational tables, and setting up usercodes and access security. The procedures for setting up blueprint parameters are provided with a description of each parameter. It should be used by all persons involved in installation, implementation and maintenance of these system parameters. Core Functions and Inquiries Guide (3937 0952) This guide describes the kernel functions that are used regularly for the maintenance of information utilised by a number of modules. It describes the procedures for setting up and maintaining data, such as market rates and dealers. It also describes inquiries that are common to all contracts. This guide is relevant to all users.
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Clients and Accounts Administration Guide (3937 0960) This guide describes the data entry and inquiry screens associated with setting up and maintaining client details. This guide also describes the set up and maintenance of client accounts, including automatic payments (standing orders). An appendix covers the calculations used by client accounts. This should be used by personnel preparing information for data entry. Settlements Guide (3937 0366) This guide describes the processes associated with settlements and customer transfers. It details how to administer the settlement queues. This guide also describes how to use the Straight Through Processing and Netting functions. It should be used by personnel managing the settlements department. General Ledger Administration Guide (3937 0457) This guide describes the data entry screens associated with General Ledger transactions. This should be used by personnel preparing information for data entry. Risk Management Administration Guide (3937 0358) This guide describes the data entry screens associated with setting up limits and exposures. The guide also describes the screens associated with portfolios. The amounts that represent book and market values are listed by module in an appendix. This guide is intended for personnel preparing information for data entry and those concerned with controlling risk. Commercial Loans Administration Guide (3937 0150) This guide describes the data entry screens associated with Commercial Loan transactions. This includes entry of commitments, various types of drawdown and contract schedules. An appendix gives the calculations used in the processing of Commercial Loan transactions. This guide is intended for personnel preparing information for data entry. Foreign Exchange and Money Market Administration Guide (3937 0135) This guide describes the data entry screens associated with Foreign Exchange and Money Market transactions. An appendix gives the calculations used in the processing of Foreign Exchange and Money Market transactions. This guide is intended for personnel preparing information for data entry. Forward Rate Agreements and Interest Rate Swaps Administration Guide (3937 0168) This guide describes the data entry screens and some related inquiries associated with Forward Rate Agreement and Interest Rate Swaps transactions. An appendix gives the calculations used in the processing of Forward Rate Agreement and Interest Rate Swap transactions. This guide is intended for personnel preparing information for data entry.
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Futures Administration Guide (3937 0176) This guide describes the data entry screens associated with Futures transactions and some related inquiries. An appendix gives the calculations used in the processing of Futures transactions. This guide is intended for personnel preparing information for data entry. Options Administration Guide (3937 0184) This guide describes the data entry screens associated with Options transactions. An appendix gives the calculations used in the processing of Options transactions. This guide is intended for personnel preparing information for data entry. Securities Administration Guide (3937 0341) This guide describes the data entry screens associated with Interest Bearing Securities, Discounted Securities and Repurchase Agreements transactions and some related inquiries. An appendix gives the calculations used in the processing of Securities transactions. This guide is intended for personnel preparing information for data entry. Trade Finance Administration Guide (3937 0119) This guide describes the data entry screens used by the Trade Finance department. This guide is intended for personnel preparing information for data entry. Generalised Fees Administration Guide (3937 0374) This guide describes the data entry screens associated with Fee transactions and supporting business table. This guide is intended for personnel preparing information for data entry. Core On-Demand Reports (3937 0853) This guide describes how to run online reports that are provided in the core of this system and which will be relevant to most implementations. Any options available when producing a report are detailed as well as any specific calculations. On-Demand Reports Guide (3937 0937) This guide describes on-demand reports in alphabetical order. Any options available when producing a report are detailed as well as any specific calculations. Note: core reports are described in the Core On-Demand Reports Guide; retail reports are described in the Retail OnDemand Reports Guide. Overnight Reports (3937 0861) This guide describes how to run offline reports. This includes an overview of overnight processing. Instructions on how to initiate reports are given. This guide should be used by all personnel who need to understand the reports and the overnight process.
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Data Dictionary (3937 0226) This document provides details of data fields within every dataset on your banking systems database. This document should be used by staff preparing the accounting models and writing SQL reports to inquire on the database. Guide to Interfaces with External Systems (3937 0911) This guide describes the running of all the interfaces between your Banking Back-Office system and external systems. This guide is intended for personnel involved in setting up and running external interfaces. Order Transport Management System (3937 1018) This guide describes how to enter stock exchange securities contracts using the Order Transport and Management System. The screens in this guide allow users to add, maintain and inquire on deals, convert deals into stock exchange securities contracts, and liaise with brokers to complete settlement of a deal. This guide is intended for personnel preparing information for data entry. Portfolio Management (3937 1026) This guide describes how to create portfolios for the clients and agents who will be trading stock exchange securities with your institution. A large array of inquiry screens for managing these portfolios is also described. This guide is intended for personnel preparing information for data entry. Loan Administration System Guide (3937 0994) This guide describes the data entry screens associated with Syndicated Loans. It includes entry of facilities, and contracts such as drawdowns, guarantees and acceptances and their schedules. The screens in this guide allow users to enter data using workflows. This guide is intended for personnel preparing information for data entry. Static Database Reports Guide (3937 0085) This guide provides examples of the master data information used in the establishment and production of the static database. It should be used by persons who are familiarising themselves with the systems functionality. Static Database Transaction Input Guide (3937 0093) This guide, in conjunction with the static database, enables users to evaluate the functions and features of many of the modules. It should be used by persons who are familiarising themselves with the systems functionality.
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Contents About This Guide .........................................................................................
Section 1
Introduction to Stock Exchange and Securities Management Stock Exchange Securities Overview .................................... Stock Exchange Securities ..................................................... Securities Master File .............................................................. Automatic Entry of Securities ................................... Manual Entry of Securities ........................................ Identifying Securities ................................................ Securities Classification ............................................ Corporate Actions .................................................................... Setting Up Corporate Actions ................................... Corporate Action Types ............................................ Corporate Action Event Processing ......................... Contract Entry Prerequisites .................................................. Custody Definition .................................................... Charges Applicable to Stock Exchange Securities .. Stock Exchange Securities Contracts ................................... Custody Transfers ................................................................... Manual Custody Accounting Transactions ............... Settlement of Stock Exchange Securities Contracts ........... Assigning a Transaction Model ................................ Defining Transaction Models .................................... The Settlement Process ........................................... Matching of Contracts ............................................... Alert Queue ............................................................... Message Definition for Stock Exchange Securities .. Nostro and Agent Combinations ............................................
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1–1 1–2 1–3 1–3 1–3 1–5 1–7 1–8 1–10 1–11 1–12 1–17 1–18 1–19 1–20 1–21 1–21 1–22 1–22 1–23 1–24 1–25 1–26 1–26 1–27
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Section 2
Static Data Static Data Introduction .......................................................... Contract Related ...................................................................... Stock Exchange Contract Conditions (CCDNM) ...... Stock Exchange ....................................................................... Stock Exchanges (SEM) .......................................... Stock Exchange Settlement Type Maintenance (SXSTM) ............................................................... Charge Related ......................................................................... Stock Exchange Charges Maintenance (SLEVM) ... Stamp and SDRT Charges Maintenance (STMPM) .............................................................. Supplementary Charges Maintenance (SUPCM) .... Commission Charges .............................................................. Commission Table Maintenance (COMMM) ............ Commission Tables by Category (CTCM) ............... Depository Data ....................................................................... Depository Maintenance (CSDM) ............................ Cash Memorandum Account Maintenance (CSCMM) ............................................................. Principal and Portfolio Filters ................................................. SX Principal Filter Maintenance (SXPRM) ............... Stock Exchange Portfolio Selection Maintenance (SXPSM) .............................................................. SX Principal Filter Inquiry (SXPRI) ........................... Stock Exchange Portfolio Selection Inquiry (SXPSI) ................................................................ External Cross Reference ....................................................... External Code Cross Reference Maintenance (SXXRM) .............................................................. External Code Cross Reference Inquiry (SXXRI) ....
Section 3
2–5 2–6 2–6 2–8 2–10 2–12 2–12 2–13 2–15 2–15 2–16 2–17 2–17 2–19 2–21 2–22 2–23 2–23 2–24
Securities Instruments Maintenance Introduction to Securities Instruments Maintenance .......... Securities Master File Screens (STKA1) to (STKV1) ................................................................ Security Master File - Quick Entry (STKQ1) ............ Security Master File – Soft Keys (STKXM) .............. Security Master File – Listing Maintenance (STKLM) ............................................................... Security Master File – Overrides (STKMM) ............. Security Master File - Types (STKTM) ..................... Security Master File – Security Search (STKSE) ..... Security Master File – Soft Key Inquiry (STKXI) ...... Security Master File – Listing Inquiry (STKLI) ..........
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2–1 2–3 2–3 2–4 2–4
3–1 3–2 3–4 3–5 3–7 3–8 3–10 3–11 3–13 3–15
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Section 4
Corporate Actions Introduction to Corporate Actions ......................................... Setting Up Corporate Actions ................................................ Corporate Action Type Maintenance (SACDM) ....... Corporate Action Product Definitions (SACPM) ....... Corporate Action Fee Code Maintenance (SACFM) .............................................................. Corporate Action Tax Code Maintenance (SATXM) ............................................................... Corporate Action Local Tax Code Maintenance (SALTM) ............................................................... Corporate Actions Maintenance Screens .............................. Corporate Action Notification Maintenance (SACNM) .............................................................. Corporate Action Entitlement Maintenance (SACXM) .............................................................. Corporate Action Instruction Maintenance (SACIM) ................................................................ Corporate Actions Inquiry Screens ....................................... Corporate Action Type Inquiry (SACDI) ................... Corporate Action Instructions Inquiry (SACII) .......... Corporate Action Notification Inquiry (SACNI) ......... Corporate Action Product Inquiry (SACPI) ............... Corporate Action Entitlement Inquiry (SACXI) .........
Section 5
4–7 4–8 4–9 4–9 4–11 4–14 4–16 4–16 4–17 4–18 4–19 4–20
5–1 5–2 5–3 5–4 5–6 5–7
Entering and Inquiring on Stock Exchange Contracts Introduction to Entering and Inquiring on Stock Exchange Contracts .............................................................................. Contract Entry Screens ........................................................... SX Contract Common Add (SXCCA) ....................... SX Contract Portfolio Add (SXCPA) ......................... SX Contract Charges Add (SXCTA) ......................... Contract Maintenance Screens .............................................. SX Contract Cancellation (SXCNX) ......................... SX Transaction Diary Maintenance (SXTDM) .......... SX Unmatched Contract Browse (SXCUB) .............. Custody Maintenance Screens ............................................... Custody Transfer (SXTFA) ....................................... Holding Transaction Maintenance (SAHLM) ............ Contract Inquiry Screens ........................................................
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Alerts and Notes Introduction to Alerts and Notes ............................................ Alert Kinds (ALRKM) ................................................ Narrative Maintenance (NARRM) ............................. Alert Queue (ALRTQ) ............................................... Notes Maintenance (NOTEM) .................................. Notes Inquiry (NOTEI) ..............................................
Section 6
4–1 4–2 4–2 4–4
6–1 6–3 6–3 6–5 6–8 6–9 6–9 6–10 6–12 6–13 6–13 6–15 6–17
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SX Contract Common Inquiry (SXCCI) .................... SX Contract Common Browse (SXCCB) ................. SX Contract Portfolio Inquiry (SXCPI) ...................... SX Contract Portfolio Browse (SXCPB) ................... SX Transaction Diary Browse (SXTDB) ................... SX Message Browse (SXMB) .................................. Holdings Inquiry (SAPNI) ......................................... Holding Transactions Inquiry (SAPSI) ...................... Transaction Stock Movements Inquiry (SATRI) .......
Section 7
Setting Up Transaction Models Introduction to Setting Up Transaction Models ................... Custody Model ......................................................................... Custody Model Maintenance (SXCMM) ................... Portfolio and Depository Sub-Accounts Maintenance (CSACM) ........................................ Assigning a Transaction Model .............................................. Stock Exchange Products Maintenance (SXAPM) .. SX Transaction Model Header Maintenance (SXEHM) .............................................................. SX Transaction Model Detail Maintenance (SXEDM) .............................................................. Stock Accounting Models Maintenance (SAMDM) .. SX Input Message Models (SXIMM) ........................ SX Output Message Models (SXOMM) ................... Message Definition Screens ................................................... SX Message Format (SXMFM) ................................ SX Database Message Fields (SXDBM) .................. SX Message Qualifiers (SXMQM) ............................ Inquiry Screens ........................................................................ Stock Exchange Products Browse (SXAPI) ............. SX Input Message Model Inquiry (SXIMI) ................
Section 8
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7–1 7–2 7–2 7–4 7–5 7–5 7–7 7–9 7–11 7–12 7–13 7–14 7–14 7–16 7–17 7–19 7–19 7–20
Definition of Field Names Introduction ..............................................................................
Index
6–17 6–18 6–20 6–22 6–23 6–24 6–25 6–26 6–27
8–1
..................................................................................... Index–1
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Figures 1–1 1–2 1–3 1–4 1–5 1–6 1–7 1–8 1–9 1–10
Information Flow for Stock Exchange Securities .................................... Screen Flow for the Manual Entry of Securities ...................................... Identifying Securities ............................................................................... Classifying Securities .............................................................................. Corporate Action Process Diagram ........................................................ Processing a Corporate Action Notification ............................................ Screen Flow for Allocating Custodians ................................................... Screen Flow for Contract Entry ............................................................... Assigning a Transaction Model ............................................................... Sections of a Transaction Model .............................................................
1–2 1–4 1–6 1–7 1–8 1–13 1–18 1–20 1–22 1–24
2–1 2–2 2–3 2–4 2–5 2–6 2–7 2–8 2–9 2–10 2–11 2–12 2–13 2–14 2–15 2–16
Stock Exchange Contract Conditions screen ......................................... Stock Exchanges screen ........................................................................ Stock Exchange Settlement Type Maintenance screen ......................... Stock Exchange Charges Maintenance screen ...................................... Stamp and SDRT Charges Maintenance screen ................................... Supplementary Charges Maintenance screen ....................................... Commission Tables Maintenance screen ............................................... Commission Tables by Category screen ................................................ Depository Maintenance screen ............................................................. Cash Memorandum Account Maintenance screen ................................. SX Principal Filter Maintenance screen .................................................. Stock Exchange Portfolio Selection Maintenance screen ...................... SX Principal Filter Inquiry screen ............................................................ Stock Exchange Portfolio Selection Inquiry screen ................................ External Code Cross Reference Maintenance screen ........................... External Code Cross Reference Inquiry screen .....................................
2–3 2–4 2–5 2–7 2–9 2–11 2–12 2–14 2–15 2–16 2–18 2–20 2–21 2–22 2–23 2–24
3–1 3–2 3–3 3–4 3–5 3–6 3–7 3–8
Security Master File - Quick Entry screen .............................................. Security Master File - Soft Keys screen .................................................. Security Master File - Listing Maintenance screen ................................. Security Master File - Overrides screen ................................................. Security Master File - Types screen ....................................................... Security Master File - Security Search screen ........................................ Security Master File - Soft Key Inquiry screen ........................................ Security Master File - Listing Inquiry screen ...........................................
3–4 3–6 3–7 3–9 3–10 3–12 3–14 3–16
4–1 4–2 4–3 4–4 4–5 4–6 4–7 4–8
Corporate Action Type Maintenance screen .......................................... Corporate Action Product Definitions screen .......................................... Corporate Action Fee Code Maintenance screen .................................. Corporate Action Tax Code Maintenance screen ................................... Corporate Action Local Tax Code Maintenance screen ......................... Corporate Action Notification Maintenance screen ................................ Corporate Action Entitlement Maintenance screen ................................ Corporate Action Instruction Maintenance screen ..................................
4–3 4–5 4–6 4–7 4–8 4–10 4–13 4–15
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Figures
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4–9 4–10 4–11 4–12 4–13
Corporate Action Type Inquiry screen .................................................... Corporate Action Instructions Inquiry screen .......................................... Corporate Action Notification Inquiry screen .......................................... Corporate Action Product Inquiry screen ................................................ Corporate Action Entitlement Inquiry screen ..........................................
4–16 4–17 4–18 4–19 4–20
5–1 5–2 5–3 5–4 5–5
Alert Kinds screen ................................................................................... Narrative Maintenance screen ................................................................ Alert Queue screen ................................................................................. Notes Maintenance screen ..................................................................... Notes Inquiry screen ...............................................................................
5–2 5–3 5–5 5–6 5–7
6–1 6–2 6–3 6–4 6–5 6–6 6–7 6–8 6–9 6–10 6–11 6–12 6–13 6–14 6–15 6–16 6–17
SX Contract Common Add screen .......................................................... SX Contract Portfolio Add screen ........................................................... SX Contract Charges Add screen .......................................................... SX Contract Cancellation screen ............................................................ SX Transaction Diary Maintenance screen ............................................ SX Unmatched Contract Browse screen ................................................ Custody Transfer screen ........................................................................ Holding Transaction Maintenance screen .............................................. SX Contract Common Inquiry screen ..................................................... SX Contract Common Browse screen .................................................... SX Contract Portfolio Inquiry screen ....................................................... SX Contract Portfolio Browse screen ..................................................... SX Transaction Diary Browse screen ..................................................... SX Message Browse screen ................................................................... Holdings Inquiry screen .......................................................................... Holding Transactions Inquiry screen ...................................................... Transaction Stock Movements Inquiry screen ........................................
6–4 6–7 6–8 6–9 6–11 6–12 6–14 6–16 6–17 6–19 6–21 6–22 6–23 6–24 6–25 6–26 6–27
7–1 7–2 7–3 7–4 7–5 7–6 7–7 7–8 7–9 7–10 7–11 7–12 7–13
Custody Model Maintenance screen ...................................................... Portfolio and Depository Sub-Accounts Maintenance screen ................ Stock Exchange Products Maintenance screen ..................................... SX Transaction Model Header Maintenance screen .............................. SX Transaction Model Detail Maintenance screen ................................ Stock Accounting Models Maintenance screen ...................................... SX Input Message Models screen .......................................................... SX Output Message Models screen ....................................................... SX Message Format screen ................................................................... SX Database Message Fields screen .................................................... SX Message Qualifiers screen ............................................................... Stock Exchange Products Browse screen .............................................. SX Input Message Model Inquiry screen ................................................
7–3 7–4 7–6 7–8 7–10 7–11 7–12 7–13 7–15 7–16 7–18 7–19 7–20
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Entries in Nostro and Agent Fields .........................................................
1–27
8–1
Definition of Field Names .......................................................................
8–1
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Section 1 Introduction to Stock Exchange and Securities Management Stock Exchange Securities Overview The Stock Exchange module is concerned with clearing and settling trades in a variety of assets. It also provides for administration of resulting asset holdings and for their valuation. The Stock Exchange module is different from the Interest Bearing Securities and Discounted Securities modules, as it focuses on the actual settlement of the trade. In this module, an asset is referred to as a security. The following trading types can be raised for a security: •
Agency – a trade between your clients and third parties
•
Agency Cross – a trade between two or more of your clients
•
Investment – a trade between your institution and your clients
•
Trading – a trade between your institution and third parties
The contract itself consists of many separate legs, each for a different counterparty. However, each contract can only trade one security. This guide describes the following features used to create Stock Exchange Securities Contracts: •
Entering, maintaining and settling Stock Exchange Securities Contracts
•
Entering, maintaining and settling Custody Transfers. These are transactions involving the movement of securities between two portfolios.
•
Entering, maintaining and settling Corporate Action Events. Corporate Actions are events in the life of a security that affect the portfolios that have holdings in that security.
•
Entering information into the Securities Master File, where all the securities traded by your institution are defined
•
Maintaining information on securities in the Securities Master File
•
Defining the static data used for entering contracts
•
Defining the Transaction Models used to control the settlement process
•
Defining the S.W.I.F.T. format messages used during the settlement process
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Stock Exchange Securities The following figure is an overview of the information contained within this guide. The securities master file contains information on all the securities traded by your institution. A security must exist here before it can be traded. See Securities Master File, later in this section, for more information. Contract entry involves entering the basic details of the contract, such as the security and the trade date. You must then enter contract legs for each party involved in the contract. See Contract Entry Prerequisites and Stock Exchange Securities Contracts for more information. Settlement occurs separately for each leg of a contract, although events occurring in one leg can affect other legs. See Settlement of Stock Exchange Securities Contracts, later in this section, for more information.
Define Securities
Securities Master File
see Securities Master File
Enter Contracts Based on a Security
Enter Basic Contract Details
see Contract Entry Prerequisites and
Enter Details of Contract Leg
Enter Details of Contract Leg
Enter Details of Contract Leg
Settlement of Contract Leg
Settlement of Contract Leg
Settlement of Contract Leg
Stock Exchange Securities Contracts
Settle Contract Legs see Settlement of Stock Exchange Securities Contracts
Figure 1–1. Information Flow for Stock Exchange Securities
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Securities Master File Information on securities is contained in a database called the securities master file. This information can either be entered manually or automatically via a third party information feed. See Automatic Entry of Securities and Manual Entry of Securities below for more information. In the securities master file, each security is identified by a unique stock identifier. Each security is also assigned to a security type, depending on the classification of the security. If you are using manual entry, these values are defined by you. If you are using automatic entry, these values are assigned by the supplier of the data feed. Securities inside the system are referred to as instruments. Instrument identifiers are user definable and can be, for example, ISIN numbers, country specific codes, or names applied by your institution. The security type is also converted into an instrument type. Generally there will be many security types assigned to one instrument type. See Identifying Securities and Classifying Securities below for more details. When a security undergoes a special event, for example a dividend payment or stock split, then the affected holdings of this stock can be altered as well. The functionality for handling this is described in the Corporate Actions section below.
Automatic Entry of Securities Automatic entry of securities information into the securities master file uses an information feed from a third party source entering via an interface. Currently the FTS information feed produced by FT Interactive Data is supported. When using such a feed, information will normally be fed in at the end of every business day, updating what is currently in the securities master file. It is also possible to update the securities master file during the day. The ability to override third party information is available for a selected number of important fields. Instead of using the value from the securities master file, the override value is used instead. This prevents manual updates from being overwritten during the next automatic update of the securities master file data. To override information, use the Security Master File – Overrides (STKMM) screen.
Manual Entry of Securities When entering information on securities manually, there is a core set of information that is required to process contracts based on a security. This core information can be entered on the Securities Master File - Quick Entry (STKQ1) screen. Any additional information can then be entered on the Security Master File (STKA1) to (STKR1) screens. When using manual entry into the securities master file, the Security Master File – Overrides (STKMM) screen becomes unnecessary, information that is incorrect can be altered inside the securities master file itself.
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The following figure shows the screens used to manage information in the securities master file. All the screens on this flow chart are described in Section 3 of this guide.
Define Securities Securities Master File Quick Entry (STKQ1)
Security Master File Screens (STKA1) to (STKR1)
Security Master File Types (STKTM)
Security Master File Soft Keys (STKXM)
Additional Securities Details
Define Instrument Details
Figure 1–2. Screen Flow for the Manual Entry of Securities
1–4
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Identifying Securities Each security can be listed at one or more stock exchanges, which can be in the same country or different countries. When you are required to identify a security, you must identify the security itself, and if it is listed in more than one exchange, you must identify the particular exchange listing you are interested in. Information on securities is contained in the securities master file. Each security in the securities master file is given a unique Stock Identifier, either manually, or by the information provider. When a security is listed in more than one country, the same security can be included in the securities master file multiple times, each occurrence with a unique stock identifier. Normally there is one occurrence of a security in the security master file for each country in which the security is listed. The system uses the same stock identifier for all exchanges in one country. In the system, securities are accessed via their instrument identifier. Up to 12 instrument identifiers can be defined for each stock identifier. The same instrument identifier can be given to different stock identifiers, allowing one security to use one instrument identifier. For securities that are only listed in one exchange, the instrument identifier alone will identify the correct listing. When securities are listed at multiple exchanges, then the stock exchange may be required as well as the instrument identifier to identify the correct listing. The following figure shows an example of how the stock identifier, stock exchange and instrument identifier may interact. A security is listed in three countries, the UK, Germany and the USA. It is assigned a different stock identifier for each of these countries. In the UK, the security is listed only at the LSE. In the USA, it is listed both at NASDAQ and AMEX. The instrument identifier could be an ISIN number, a local code, or a manually entered code used by your institution. When an inquiry is carried out on the security in the example, if using the 'ISIN Number' instrument then the stock exchange must also be entered to identify the individual listing to be used. If using either of the 'Local Code' instruments, then an exchange is not required, as they only apply to a single listing. The stock exchanges where a stock is listed are defined on the Securities Master File - Listing Maintenance (STKLM) screen. Instrument identifiers are defined on the Securities Master File Soft Keys (STKXM) screen. Both of these screens are described in Section 3 of this guide.
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Introduction to Stock Exchange and Securities Management
Security
Security Listing 1 in
UK
Stock Identifier A
LSE
Local UK Code Instrument
Security Listing 2 in Germany
Individual Listings
Security Listing 3 in USA
Stock Identifier B
Identification in Securities Master File
Stock Identifier C
NASDAQ
ISIN Number Instrument
AMEX
Example of Identification in System
Local USA Code Instrument
Figure 1–3. Identifying Securities
1–6
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Securities Classification Each security in the securities master file is classified into groups defined by security type. Inside the system, the security type is directly converted into an instrument type, normally with many security types for one instrument type. This is especially useful during automatic entry of securities information into the securities master file. The information provider may have many different definitions of security type, which would complicate the settlement processing of contracts. Grouping similar security types together into instrument types allows the settlement process to be simplified. An instrument type is linked to a security type on the Security Master File - Types (STKTM) screen, described in Section 3 of this guide. Instrument types must be set up on the General Purpose Narrative (GNARR) table, type IT, described in the Guide to Setting Up. The following figure shows the principle behind security types and instrument types. An example of its usage would be if the securities information provider had security types of Equity, Non-voting Equity and Fixed Dividend Equity, these could all be grouped under an instrument type of "Equity".
Classification in Securities Master File
Classification in System
Security Type Security Type
Instrument Type
Security Type Security Type Security Type
Instrument Type
Security Type
Figure 1–4. Classifying Securities
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Corporate Actions Corporate actions are events that occur in the lifetime of a security. This event could affect the security holding, for example a 2 for 1 stock split, or the event could be a cash payment, for example a dividend payment, to the owners of the stock. The corporate actions functionality analyses the details of the event, and alters the affected holdings accordingly. Corporate action events are initiated with a notification, either received from an information provider, or created manually within your system. The notification will detail the effect of the event on the underlying security. The initial processing of the notification will create an entitlement for every holding affected by the event, showing what changes will take place due to the notification. After reviewing the entitlements, they can be confirmed, and finally transformed into securities administration contracts, and settled as a standard stock exchange securities contract. The basic attributes of a corporate action event are contained within a corporate action type. Each notification is assigned to a corporate action type, which defines the actions to be taken during processing. The following diagram shows the connection between a corporate action type, notification, entitlements, and the portfolio holdings affected by the security.
Corporate Actions
Example
Corporate Action Type
Dividend
Notification
Company X Dividend GBP 0.15 23rd September 2000
Entitlement
Entitlement
Entitlement
Entitlement
Settlement of Postings
Settlement of Postings
Settlement of Postings
Settlement of Postings
Portfolio SMITH Y 1345 shares
Cash settlement GBP 0.15 * 1345
Figure 1–5. Corporate Action Process Diagram
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The following corporate action types can be processed using this module: •
Bonus (same and different security)
•
Consolidation/Subdivision
•
Split/Reverse Split
•
Rights Issue (same and different security)
•
Merger/De-Merger
•
Take-over (security, cash, or both)
•
Redemptions, Conversions, and Exercise
•
Capital and Income Distribution
The following corporate action types cannot be directly processed using this module (manual intervention is required): •
Euro Conversions
•
Dividends with a Cash and Scrip Option
When processing corporate actions, cash fractions and floating rate cross-currency actions are not supported.
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Setting Up Corporate Actions Before a corporate action event can be processed, the following information must be set up: •
Corporate Action Types. These are set up on the Corporate Action Type Maintenance (SACDM) screen. See Corporate Action Types for more information.
•
Corporate Action Product Definition Product types are used to define the cash settlement and clearing process after the notification has been fully processed. The product types used in each situation are defined on the Corporate Action Products Definition (SACPM) screen.
•
Corporate Action Fee Codes Fee codes are used to allocate fees to the counterparties in corporate action events. Fee codes are set up on the Corporate Action Fee Code Maintenance (SACFM) screen.
•
Corporate Action Tax Codes and Local Tax Codes Tax codes and local tax codes allow tax to be charged to entitlements from both the country where the portfolio is managed, and the country where the security is listed. They are set up on the Corporate Action Tax Code Maintenance (SATXM) and Corporate Action Local Tax Code Maintenance (SALTM) screens respectively.
The above screens are described in Section 4, Corporate Actions.
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Corporate Action Types Each notification is assigned a corporate action type, which contains the basic attributes of the corporate action event. Each corporate action type has three mandatory indicators that control its attributes. These are: •
Elements. There are six elements, listed below. Each element represents a different action that can be undertaken during a corporate action event. An event may consist of one or more of these elements.
•
Event Type. This can either be a capital event, or an income event. Capital events affect the book value of the underlying holding, whereas income events do not affect the book value of the underlying holding.
•
Participation. This can either be mandatory or voluntary. Mandatory events are always processed, for every underlying holding. Voluntary events allow the portfolio manager or client to accept the event, selecting any of the options, or let the event lapse.
The following elements can be included in a corporate action type. They describe the actions supported during an event: •
Create a Holding in a First New Security - this element will assign a new security to owners of the underlying security
•
Create a Holding in a Second New Security - this element will assign a second new security to owners of the underlying security
•
Transfer out Holding in the Underlying Security - this element will remove the underlying security from owners with this holding
•
Cost Adjustments to the Old Security Line for the Cost of New Security - this allows the book cost of the underlying security to be altered to account for the cost of the new security
•
Cash Distribution - there is a cash distribution to owners of the underlying security
•
Call for Subscription in Cash - there is a cash call from the owners of the underlying security
When notifications are being received from an external information provider, the corporate action types in your system must correspond to types being supplied by the provider.
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Corporate Action Event Processing The processing of a corporate action takes place in the days before the effective date of the notification. It is possible to complete the processing of the notification quickly, on the effective date, bypassing some of the steps involved. This will depend on the individual circumstances of a notification. An overview of the steps necessary when processing a corporate action event is shown below. For a more detailed explanation of each step, see later in this section. Review Notification. Before processing a notification, it can be reviewed and altered if necessary. This step is not mandatory. Perform Holder Analysis. The holder analysis can be performed several days before final processing of the notification. It provides a list of the holdings affected by the notification. Entitlements can be viewed on the inquiry screens, but many of the details are not completed at this stage. This step is not mandatory. Perform Detailed Analysis. The detailed analysis provides a complete description of the changes that will occur to each holding during the processing of the notification. Entitlements can be viewed, and all details will be displayed. This step is not mandatory, but will be performed during processing of the notification. Enter Client or Portfolio Manager Instructions. For "voluntary" actions only, each entitlement must have an acceptance instruction entered for it. This can be done either individually, or in groups of entitlements for holdings with the same portfolio manager and portfolio type. This step is mandatory for voluntary actions, although instructions can be set automatically using default values set up for the corporate action type. Reconcile the Entitlements. After performing the detailed analysis, the entitlement calculations can be reconciled (for example against totals received from custodians). Any required changes to entitlements can be made and a final analysis of the holdings produced. This step is not mandatory, but carrying out this step is recommended. Process the Notification. During processing, each entitlement will be processed as a standard securities administration contract, using the stock exchange securities transaction models. Tracking of the settlement process can be followed on the standard tracking screens, described later in this guide. This step is mandatory.
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The following figure shows the steps typically involved in processing a corporate action event. Steps of the process in the Notification Processing column of the diagram that have a broken line do not have to be performed for every corporate action event. The Enter Client or Portfolio Manager Instructions can be performed any time between Perform Holder Analysis and Reconcile the Elements.
Notification Processing
Actions Undertaken During Processing
Review Notification
Choose Notification Corporate Action Notification Inquiry (SACNI)
Review Notification Corporate Action Notification Maintenance (SACNM)
Perform Holder Analysis
Authorise Notification Corporate Action Notification Maintenance (SACNM)
Run and Run Review ReportReport SACORPANL Corporate Action Event Analysis
Enter Client or Portfolio Manager Instructions
Enter Instructions Corporate Action Instruction Maintenance (SACIM)
Review RunInstructions Report Corporate SACORPANL Action Instruction Corporate Action Inquiry Event (SACII) Analysis
Perform Detailed Analysis
Authorise Notification Corporate Action Notification Maintenance (SACNM)
Run Report Run Report and Review SACORPANL Corporate Action Event Analysis
Enter Client or Portfolio Manager Instructions
Enter Instructions Corporate Action Instruction Maintenance (SACIM)
Review RunInstructions Report Corporate SACORPANL Action Instruction Corporate Action Inquiry Event (SACII) Analysis
Reconcile the Entitlements
Maintain Entitlements Corporate Action Entitlement Maintenance (SACXM)
Process the Notification
Authorise Notifications Corporate Action Notification Maintenance (SACNM)
Run Report SACORPACT Corporate Action Event Processing
Figure 1–6. Processing a Corporate Action Notification The following sections contain details of the stages in the process in the diagram above.
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Review Notification This step in notification processing is not mandatory. Notifications can either be created in your system, or received from an external information source. To create a notification, use the Corporate Action Notification Maintenance (SACNM) screen, described in Section 4 of this guide. Notifications from an external source will probably be combined with automatic entry of securities data into the securities master file. See Securities Master File earlier in this section for more information. Before authorising a notification for processing, you can review the details of the notification, and make any changes that are necessary. Use the Corporate Action Notification Inquiry (SACNI) screen to view notifications in the system, and the Corporate Action Notification Maintenance (SACNM) screen to view and maintain the details of the notification. Each notification is identified by an instrument of the security, the Ex Date of the notification, and a unique reference number assigned by your system.
Perform Holder Analysis This step in notification processing is not mandatory. A holder analysis provides a quick way of obtaining a list of affected portfolios, it does not however provide a complete list of the changes to each portfolio. Before performing a holder analysis, the notification must be authorised. This is done on the Corporate Action Notification Maintenance (SACNM) screen. On this screen, set the Authorisation field to "Authorised for High Level Entitlement Analysis". The holder analysis is performed by the SACORPANL - Corporate Action Event Analysis report. After the report has been run, the following information will be available: •
The report print-out, detailing for each holding the entitled quantity that is anticipated in the event.
•
The entitlement details for each holding can be viewed on the Corporate Action Entitlement Inquiry (SACXI) screen, or by using the SAENTREC - Corporate Actions Entitlement Reconciliation report. Although not all details of the entitlement are available, those that are can be altered at this stage.
Perform Detailed Analysis This step in notification processing is not mandatory, but will be performed when processing a notification that has been automatically selected. A holder analysis provides complete details of the changes that will be made during processing of a notification. Before performing a detailed analysis, the notification must be authorised. This is done on the Corporate Action Notification Maintenance (SACNM) screen. On this screen, set the Authorisation field to "Authorised for Low Level Entitlement Analysis".
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The detailed analysis is performed by the SACORPANL - Corporate Action Event Analysis report. After the report has been run, the following information will be available: •
The report lists information on the affected portfolios, quantities of stock, changes to book holdings, cash postings and changes in custody location.
•
The entitlement for each holding can be viewed on the Corporate Action Entitlement Maintenance (SACXM) screen, all necessary details should be completed, and can be altered.
Enter Client or Portfolio Manager Instructions This step in notification processing is only valid for "Voluntary Actions" but is mandatory for those actions. Before entering acceptance instructions, the High Level Analysis step must have been performed. Each entitlement must have an acceptance instruction entered for it. This can be done either individually, or in groups of entitlements for holdings belonging to portfolios with the same portfolio manager and portfolio type. To enter instructions at portfolio manager level, use the Corporate Action Instruction Maintenance (SACIM) screen. Groups are based upon a set of portfolios with the same portfolio manager and portfolio type. Individual entitlements can be given different acceptance instructions on the Corporate Action Entitlement Maintenance (SAXCM) screen. The Corporate Action Instruction Inquiry (SACII) screen can be used to view the portfolio managers who do not have an instruction applied for them. Instructions for entitlements can be viewed on the Corporate Action Entitlement Inquiry (SACXI) screen.
Reconcile the Entitlements This step in notification processing is not mandatory, but is recommended. The High Level Analysis must have been done. Reconciling the entitlements creates the final version of the entitlement to be used during processing. Any changes made to the entitlements during the analysis stages will be incorporated. The screen Corporate Action Entitlements Maintenance (SACXM) screen can be used to correct any faults found with the entitlements. To reconcile the entitlements, run the SACORPANL - Corporate Action Event Analysis report. This performs an up to date analysis of the affected holdings and updates a detailed entitlement for each holding affected. A full print-out of the affected holdings is provided, as for the detailed analysis. It is only necessary to run the SACORPANL - Corporate Action Event Analysis report if you want to update the changes you have made to the entitlements, running the report may affect the reconciliation of the entitlements.
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Process the Notification This step in notification processing is mandatory. Before processing, the notification must first be authorised. This is done on the Corporate Action Notification Maintenance (SACNM) screen. On this screen, set the Authorisation field to "Authorised for Transaction Processing". On the Corporate Action Notification Maintenance (SACNM) screen, enter any prices that are required for cost apportionment. On the Corporate Action Entitlement Maintenance (SACXM) screen, enter the settlement exchange rates, which cannot be defaulted. If necessary enter or correct the settlement instructions. Run the SACORPACT - Corporate Action Event Processing report. This will calculate the affected book costs, and create settlement postings and transaction events for each entitlement. After Processing, it will be necessary to correct any entitlement for which the exchange rate or settlement date could not be defaulted.
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Contract Entry Prerequisites Before contracts can be created based on the securities in the securities master file, the following prerequisites must be set up. •
Stock exchange details for the stock exchanges where your institution trades securities. See the Stock Exchanges (SEM) screen, described in Section 2 of this guide for more information
•
Custodians, custody models, custody sub accounts and custody cash memo accounts used during settlement. See Custody Definition.
•
Charges for commission, stamp duty, stock exchange levies and supplementary charges must be defined. See Charges Applicable to Stock Exchange Securities.
•
Portfolios must be established for the clients and third parties that will be trading securities. A portfolio or portfolios must also be established to represent your institution when trading securities. See Introduction to Portfolio Management in the Portfolio Management Guide for more information.
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Custody Definition Stocks are held either physically or in dematerialised book-entry form with custodians and depositories. When a trade is settled, the assets must be transferred from one custody location to another, possibly between two different custodians. It is necessary to identify the account at a custodian used by the owners of each portfolio who will be trading at your institution. This could be a custodian requested by the client or agent, or a default custodian used by your institution. The custody model defines which custodian and account are used for a particular combination of Portfolio and Instrument. Each portfolio is assigned a custody model on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide. The custody models used by your institution are set up on the Custody Model Maintenance (SXCMM) screen, described in Section 7 of this guide. If the client has their own account at the custodian, you can define this account using the Portfolio CSD Sub-Accounts (CSACM) screen, described in Section 7 of this guide. The following figure shows the information flow used to identify the custodian, and the account at a custodian, appropriate to a leg of a contract.
Contract Leg
Portfolio
Custody Models
Portfolio Security Stock Exchange of the trade
Custody Model
Custody Model Instrument Instrument Type Country of Register Stock Exchange of the trade
Security
Custody Location Custody Type Depository Account Sub Account
Instrument Instrument Type Country of Register
Figure 1–7. Screen Flow for Allocating Custodians
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Charges Applicable to Stock Exchange Securities Charges are applied to each individual leg of a contract, and can be different for different legs in the same contract. The charges applicable to a leg of a contract can be displayed while entering the leg on the SX Contract Portfolio Add (SXCPA) screen, and they can be changed on the SX Contract Charge Add (SXCTA) screen. These screens are described in Section 6 of this guide. The following types of charges can be applied to individual legs of contracts: •
Charges levied by the stock exchange where the security is traded. Defined on the Stock Exchange Charges Maintenance (SLEVM) screen
•
Charges levied as commission on a trade. Defined on the Commission Table Maintenance (COMMM) screen
•
Stamp duty, defined on the Stamp and SDRT Charges Maintenance (STMPM) screen
•
Supplementary charges, defined for individual legs of a contract. Defined on the Supplementary Charges Maintenance (SUPCM) screen.
The above screens are described in Section 2 of this guide.
Variable and Fixed Charges Charges can be applied either as a variable charge or a fixed charge. Variable charges can either be a rate levied on the whole consideration amount, or the charge can be banded. With banded charges, the following options are available: •
Banding Levels – defines the bands applicable to a variable charge. Either a percentage or a value is then applied to the consideration amount based on these bands
•
Calculation Method - defines whether the variable charge is applied at the level of the highest band the consideration amount reaches, or whether the variable charge is applied in slices across all the bands
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Stock Exchange Securities Contracts The stock exchange securities contract entry process allows you to create the following types of securities contracts: •
Agency – this is a trade between third parties and your clients
•
Agency Cross – this is a trade between clients in your institution
•
Investment – this is a trade between your institution and your clients
•
Trading – this is a trade between your institution and third parties
Each contract comprises a set of basic common details, plus individual 'legs' for every party involved in the contract, identified by their portfolio identifier. Each party can buy or sell a quantity of the traded security for a different price. There can be two legs with the same portfolio trading with different prices. Once all the legs of the contract have been entered, the bought and sold quantity or nominal of the security must balance. The following figure shows the screen flow for adding and maintaining a securities contract:
Enter Common Details of Contract
Contract Initiation SX Contract Common Add (SXCCA)
Enter Individual Legs of Contract. Repeat as Necessary
Enter Contract Leg SX Contract Portfolio Add (SXCPA)
Review Charges SX Contract Charges Add (SXCTA)
Notes Maintenance (NOTEM)
SX Contract Cancellation (SXCNX)
SX Transaction Diary Browse (SXTDB)
Contract Maintenance Screens
Figure 1–8. Screen Flow for Contract Entry When entering a new contract, the SX Contract Common Add (SXCTA) screen must be completed first. Then for each leg of the contract, you must complete the SX Contract Portfolio Add (SXCPA) screen. For each leg of the contract you can also review the charges applicable to that leg using the SX Contract Charges Add (SXCTA) screen. All these screens are described in Section 6 of this guide.
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Custody Transfers Custody transfers are transactions whereby the custody of a holding is transferred from one portfolio to another portfolio. Settlement of the transfer uses identical methods as a standard stock exchange securities contract, including cash accounting, custody accounting, and message creation and receipt. The following types of transfer are possible: •
Client portfolio to client portfolio
•
Client portfolio to other portfolio
•
Other portfolio to client portfolio
In the types of transfer above, other portfolio can be any portfolio defined in this system. This can include portfolios owned by your institution, your institutions clients, or which represent third parties (for example asset managers or brokers). Custody transfers are entered on the Custody Transfer (SXTFA) screen, described in Section 6 of this guide.
Manual Custody Accounting Transactions Manual custody accounting transactions allow you to enter directly into the system information on security holdings. This functionality can be used for the following purposes: •
To correct reconciliation errors in custody holdings without having to reverse and re-enter historical transactions
•
To take on a history of client custody transactions (for example for performance analysis)
•
To enter transactions manually (for example for very low volume business where it is uneconomical to set up the static data)
Transactions of this type do not undergo the standard settlement processing associated with stock exchange securities. Instead the custody positions are updated directly, although the stock exchange accounting models are used to do this. Manual Custody Accounting Transactions are entered on the Holding Transaction Maintenance (SAHLM) screen, described in Section 6 of this guide.
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Settlement of Stock Exchange Securities Contracts The Stock Exchange module has been designed to track and respond to the actual events involved in the settlement history of every securities trade (other modules assume that cashflows will occur on their expected dates). This is recognition of the extra complexities involved in settling both stock and cash in a co-ordinated fashion, between multiple parties. The settlement process is controlled by a transaction event diary, which lists the actions taken during settlement. Each leg of a contract is assigned a transaction event diary. The transaction event diary is created from a transaction model, which must be defined before settlement can proceed. The settlement instructions contained in this section also apply to corporate actions notifications processing. In this case, the entitlements created for a notification become standard contracts.
Assigning a Transaction Model Each leg of a contract is automatically assigned a product type after it has been entered. The transaction model is then directly related to the product type. Different contract legs in the same contract can have different product types. Once a product type has been assigned, a transaction event diary is automatically created to control the settlement process. The following figure shows the information used when assigning a product type and transaction model to a contract leg. See Custody Definition earlier in this section for more information on custody models.
Contract Leg Banks Contract Trade Type
Portfolio Type
Portfolio Portfolio Category Exchange of Trade Instrument Type Instrument
Product Types Product Type
Product Type
Custody Models Custody Type Depository
Transaction Model
Figure 1–9. Assigning a Transaction Model
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Defining Transaction Models A transaction model is used to define the transaction event diary used during settlement. The following variables make up a transaction model: •
Transaction Model – this is the model used to create the transaction event diary. A transaction model is assigned to each product type, on the SX Transaction Model Header Maintenance (SXEHM) screen, described in Section 7 of this guide
•
Transaction Diary Type - this controls the diary events undertaken at each stage of the settlement process. For each transaction diary type you must define when it will be executed, which can be either manually, automatically on a set date, or automatically after a certain event. Transaction diary types are set up on the SX Transaction Model Header Maintenance (SXEHM) screen, described in Section 7 of this guide
•
Transaction Diary Event – this defines the actions carried out for each transaction diary type. Transaction diary events are defined for each transaction diary type on the SX Transaction Model Detail Maintenance (SXEDM) screen, described in Section 7 of this guide
A transaction diary event can involve one of the following actions: •
Accounting Event, a movement of cash between accounts. See Accounting Models in the Guide to Setting Up for more information
•
Stock Accounting Event, a movement of stock into or out of custodian accounts. This is used to track the settlement of the contract leg. These are set up on the Stock Accounting Models Maintenance (SAMDM) screen. See Tracking the Settlement Process for more information
•
Input Message Model, a message input to S.W.I.F.T. from the system. These are set up on the SX Input Message Models (SXIMM) screen
•
Output Message Model, a message output from S.W.I.F.T. to the system. These are set up on the SX Output Message Models (SXOMM) screen
•
Trigger Event, a transaction diary type on the opposite side of the contract will be triggered. The transaction diary type to be triggered must be entered in the Trigger Diary field
•
Report Contract Note (RCN), a contract note will be created and sent to the counterparty. This is controlled by the SXCNOTE – SX Contract Note report, described in the On-Demand Management Reports Guide.
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The following figure shows a graphical representation of how the parts that make up a transaction model interact:
Transaction Model
Transaction Diary Type
Transaction Diary Event
Transaction Diary Type
Transaction Diary Event
Transaction Diary Event
Transaction Diary Type
Transaction Diary Event
Figure 1–10. Sections of a Transaction Model
The Settlement Process The settlement process is controlled by a transaction event diary. The transaction events contained in the transaction event diary are actioned using a set of rules, defined when the transaction model is created. The events are actioned in order of their transaction diary type. All the events under the first transaction diary type are actioned before events in the second transaction diary type and so on. The transaction diary type is actioned when it is triggered, the following triggers are available:
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•
Action Now - action when the date is reached. The date of the diary type is defined using the When field, and is the start date, plus a number of days. If manually entered, this means action on the expected date
•
Manual Action Required – the events in this diary type must be actioned manually on the SX Transaction Diary Maintenance (SXTDM) screen
•
Waiting on Message - this action is waiting for a message outbound from S.W.I.F.T. to arrive. The message must be included as an outbound message event inside the diary type
•
Waiting on Trigger - this action is waiting for a trigger event from the opposite side of the contract. For example a market portfolio transaction event can trigger a client side event. On the opposite side of the contract, you must enter this diary type to be triggered in the Trigger Diary field on the SX Transaction Model Detail Maintenance (SXEDM) screen.
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The transaction diary types are actioned in the order they are entered on the SX Transaction Model Header Maintenance (SXEHM) screen, this order can be altered for different circumstances using the Conditional Indicator field. This has the following options: •
On Top – process this diary event in sequence order. With this setting, a transaction diary type will not be actioned until the transaction diary types above it are completed.
•
Unconditional - As soon as the transaction diary type is actioned, all the events under it will take place. This happens even if there are unactioned transaction diary types left above it.
When a transaction diary type is actioned, all the transaction diary events underneath it will be actioned. Transaction diary events control the movement of stock and cash, and the sending and receipt of S.W.I.F.T. messages. The transaction events are all carried out, in the sequence order in which they are entered. If there is a problem with any event, then an alert will be raised on the Alerts Queue (ALRTQ), allowing a user to fix the problem. If there is a problem with a transaction diary event, the events after it will still be actioned. The settlement process can be tracked using the stock accounting sub-balances. These track the progression of the stock to the final depository account. Up to 6 sub-balances can be set up for each depository, and these will be used when the final location of stock is in that depository. The stock is moved between sub-balances using the Stock Movement transaction event diary. This process is very flexible. For example, movement of stock can be dependant on messages being received from the depository, or the stock can be moved on a time basis, using the assumption that the trade is proceeding as planned.
Matching of Contracts The system is capable of responding to incoming messages detailing new allegements, or changing the market status of trades. This is a process carried out to ensure that the details of the contract leg are the same between your institution and the counterparty. If there is a discrepancy in the contract details supplied to the custodian, then the trade will be delayed while the problem is fixed. The custodian can inform you of the problem over S.W.I.F.T., in which case the system can receive and display messages concerning unmatched and alleged transactions, and create an alert to warn you of the problem. A list of the contracts that are unmatched can be found on the SX Unmatched Contracts Browse (SXCUB) screen, described in Section 6 of this guide. The matching status of a contract leg is altered using the transaction event diary. When a transaction diary type is actioned, this can also affect the matching status. Whether the matching status is affected when a transaction diary type is actioned is defined on the SX Transaction Model Header Maintenance (SXEHM) screen.
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Alert Queue Alerts are used to warn a user either that something is wrong with the settlement process, or that some manual processing is necessary. Alerts can be raised in three ways: •
Automatically created when an error occurs during the settlement process
•
Automatically created when a message of a certain type is received. The message types that raise an alert are defined on the SX Output Message Models (SXOMM) screen
•
Manually created by the user as a note. Notes can be added to any contract leg to remind the user about exceptional details or actions to be taken. The note is then triggered to appear as an alert on a set date
Alerts can be viewed on the Alert Queue (ALRTQ) screen, described in Section 5 of this guide.
Message Definition for Stock Exchange Securities Messages can be sent and received in standard S.W.I.F.T. format, either ISO 7775 style S.W.I.F.T. messages, or ISO 15022 S.W.I.F.T. messages. Tagged format messages are also recognised. Messages can be constructed in S.W.I.F.T. format after you have completed the templates for the message types you want to send. The message will be individualised for each contract by including information directly from the database, for example the contract number, nominal amount and settlement date. To define the basic message template, you must use the SX Message Format (SXMFM) screen, on which you define the basic text of the message, the database fields and qualifiers to be included and the necessary S.W.I.F.T. tag codes. The database fields to be included in the body of the message can be referred to by the database field name set up on the SX Database Fields (SXDBM) screen. For ISO 15022 S.W.I.F.T. format messages, you must use additional qualifiers in a message, which can be defined on the SX Message Qualifiers (SXMQM) screen. All these screens are described in Section 7 of this guide.
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Nostro and Agent Combinations The system identifies the accounts between which payments are made automatically, on the basis of the nostros and agents that have been set up for each particular contract giving rise to the notice or payment. You can set up details of the nostro accounts to and from which payments should be made for each currency you deal in, using the Nostro Details (NSTRO) screen. At deal time the system automatically defaults the nostro/agent information to the contract entry screens, using the Product Type, Currency and Accounting Centre of the deal as the key. A nostro account is defined as “our account with another bank”. In order correctly to reflect any money held with another bank, the system maintains a copy of the nostro account in its own books. Nostro accounts are set up using the Nostro Details (NSTRO) screen. They are identified by a nostro number and currency or a nostro name and currency. An agent is defined as a “third party responsible for paying or receiving funds on a contract”. Agents are set up using the Agent Details (AGNTM) screen. They are identified by an agent nickname. The following table lists and describes valid combinations of entries in the nostro and agent fields. Note:
A nostro can be identified by either its name or number. The use of an Agent does not necessarily indicate that an account relationship exists between the bank and the agent. For example settlement messages may be sent by the bank to its pay nostro, with information for onward transmission to the client's agent (nostro). Similarly, settlement messages may be received from the client's agent (nostro) by the bank's receive nostro, with information for onward transmission to the bank.
Table 1–1. Entries in Nostro and Agent Fields
Nostro
Agent
Number/Name
Name
Number/Name
Number/Name
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Description Your correspondent and the client's agent are different. The agent's nickname is entered in the Agent field. The client's agent is one of your correspondents: 1.
The nostro number/name in the Nostro field can be different from the nostro number/name in the Agent field.
2.
If your correspondent and the client's agent are the same, the nostro number/name entered in the Nostro field can refer to the same nostro as that entered in the Agent field.
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Nostro
Agent
Description
Number/Name
S
Your correspondent and the client's agent are the same. (This is equivalent to 2. above).
Number/Name
U
There is no agent.
Number/Name
T
Your correspondent is known; the client's agent is to be advised. If a S.W.I.F.T. message would normally have been sent, this combination will result in it not being sent - printed messages will be generated instead.
V
Vostro A/C No.
Posting is to be made using a vostro. The Agent field identifies the account to be used.
D
Name
Posting is to be made directly from/to your bank to/from the client's agent. You can enter either an agent's nickname or a nostro number/name in the agent field.
D
U
There is no agent. Posting is to be made directly from your bank to the error suspense account. When the receive account is known, use the batch postings facility to effect the transfer.
D
T
Posting is to be made directly from your bank to a client's agent who is to be advised. If a S.W.I.F.T. message would normally have been sent, this combination will result in it not being sent - printed messages will be generated instead.
V
A
Posting is to be made using a nostro. The account to be used is identified in the Agent field, and is the first available account for the client. This type of vostro may only be specified for stock exchange securities contracts
M
U
Posting is made to a cash memorandum account, defined for the client portfolio and depository. See the Stock Exchange and Securities Administration Guide for more information. This type of nostro may only be specified for stock exchange securities contracts
U
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U
The nostro and agent are not applicable, or are unknown. This is used for stock exchange securities contracts undertaken against a principal portfolio. The settlement will be against a general ledger account.
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Any of the Agent identifiers shown in Table 1-1 can be replaced by the exact S.W.I.F.T. address of the agent; the address will appear as part of the normal printed message. Only do so if you are certain of the address, which must be entered using an '@' symbol followed by the appropriate 8 or 11 character S.W.I.F.T. address. If the S.W.I.F.T. address is not valid, the message will be lost. Only the following formats should be used: •
@BBBBCCLL
•
@BBBBCCLLXXX
Where: BBBB =
Four alphabetic characters representing the S.W.I.F.T. bank identifier
CC
=
Two alphabetic characters representing the S.W.I.F.T. country code
LL
=
S.W.I.F.T. location code
XXX
=
Three alphabetic/numeric characters representing the S.W.I.F.T. branch code (if applicable)
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Section 2 Static Data Static Data Introduction This section provides a description of the following screens: Contract Related •
Stock Exchange Contract Conditions (CCDNM)
Stock Exchange •
Stock Exchanges (SEM)
•
Stock Exchange Settlement Type Maintenance (SXSTM)
Charge Related •
Stock Exchange Charges Maintenance (SLEVM)
•
Stamp and SDRT Charges Maintenance (STMPM)
•
Supplementary Charges Maintenance (SUPCM)
Commission Charges •
Commission Table Maintenance (COMMM)
•
Commission Tables by Category (CTCM)
Depository Data •
Depository Maintenance (CSDM)
•
Cash Memorandum Account Maintenance (CSCMM)
Portfolio Defaulting •
SX Principal Filter Maintenance (SXPRM)
•
Stock Exchange Portfolio Selection Maintenance (SXPSM)
•
SX Principal Filter Inquiry (SXPRI)
•
Stock Exchange Portfolio Selection Inquiry (SXPSI)
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Static Data
External Cross Reference •
External Code Cross Reference Maintenance (SXXRM)
•
External Code Cross Reference Inquiry (SXXRI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Please refer to the Starters Guide for a description of how to access and use screens.
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Static Data
Contract Related Stock Exchange Contract Conditions (CCDNM) This screen allows you to define Condition Codes, which can be used during contract entry to change the way the contract is processed. Up to 2 conditions can be applied for each contract, and each condition applied will affect all the legs of that contract. The following figure is an example of the Stock Exchange Contract Conditions (CCDNM) screen:
Figure 2–1. Stock Exchange Contract Conditions screen
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Static Data
Stock Exchange Stock Exchanges (SEM) This screen allows you to define the stock exchanges used by your institution, and to enter basic details of these exchanges. The Stock Exchange Code is used on other screens to identify each exchange, and must be unique. Charges individual to a stock exchange are defined on the Stock Exchange Charges Maintenance (SLEVM) screen, described later in this section. If your institution is using the third party information feed to enter information into the Securities Master File, then the codes for each exchange must be the same as those defined by the third party. See Section 3 - Securities Instruments Maintenance for more information on the Securities Master Files and EXSHARE. The following figure is an example of the Stock Exchanges (SEM) screen:
Figure 2–2. Stock Exchanges screen
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Static Data
Stock Exchange Settlement Type Maintenance (SXSTM) This screen allows you to define settlement types, which are used to compute the settlement date of a contract once the trade date has been input. The settlement type is assigned to a security in the securities master file, on the screen Security Master File – Classification (STKC1), in the field Settlement Marker. A contract for this security will have the settlement type defaulted for it, although this can be overridden for individual contracts using a Contract Condition. Conditions are set up on the Stock Exchange Contract Conditions (CCDNM) screen, described in this section. The following figure is an example of the Stock Exchange Settlement Type Maintenance (SXSTM) screen:
Figure 2–3. Stock Exchange Settlement Type Maintenance screen
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Static Data
Charge Related Stock Exchange Charges Maintenance (SLEVM) This screen allows you to record the charges levied by different stock exchanges for trades executed via them. You must have defined the stock exchange on the Stock Exchanges (SEM) screen before entering charges. The fields in the header bar define the situations where each charge is applicable. When adding a new charge for a stock exchange, you must enter all of these fields. Stock exchange charges can be applied using either a fixed or variable method. See "Variable and Fixed Charges" in Section 1 of this guide for more information. The following figure is an example of the Stock Exchange Charges Maintenance (SLEVM) screen:
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Static Data
Figure 2–4. Stock Exchange Charges Maintenance screen
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Static Data
Stamp and SDRT Charges Maintenance (STMPM) This screen allows you to enter and maintain the stamp duty applicable to each leg of a contract. Stamp duty is applied to each contract leg on the SX Contract Charges Add (SXCTA) screen, described in Section 6 of this guide. The following fields define in which situations a given stamp duty charge will apply: •
SX Code
•
Depository
•
Trade Type
•
Order Type
•
Client Residency
•
Country of Registration
•
Instrument Type
Charges can be applied using either a fixed or variable method. See "Variable and Fixed Charges" in Section 1 of this guide for more information.
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Static Data
The following figure is an example of the Stamp and SDRT Charges Maintenance (STMPM) screen:
Figure 2–5. Stamp and SDRT Charges Maintenance screen
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Static Data
Supplementary Charges Maintenance (SUPCM) This screen allows you to define supplementary charges that can be applied to stock exchange securities contracts. The charge can either be a fixed value or variable rate. To enter a new charge you must complete the Charge Code, Country of Registration, and Order Type fields to define which contract legs the charge is applicable to. Supplementary charges can be applied using either a fixed or variable method. See "Variable and Fixed Charges" in Section 1 of this guide for more information. Charges set up on this screen are applied to individual legs of a contract on the SX Contract Charges Add (SXCTA) screen, described in Section 6 of this guide.
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Static Data
The following figure is an example of the Supplementary Charges Maintenance (SUPCM) screen:
Figure 2–6. Supplementary Charges Maintenance screen
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Static Data
Commission Charges The commission table applied to a contract depends on the Commission Category of the client's portfolio and the Instrument Type and Country of Registration of the security being traded. Use the Commission Table Maintenance (COMMM) screen to define commission tables, and the Commission Tables by Category (CTCM) screen to define which commission table is applied to a contract.
Commission Table Maintenance (COMMM) This screen allows you to define the types of commission that can be applied to contract legs. This can either be commission charged by you, or commission charged by the third parties you are dealing with. For each commission structure used by your institution or third parties, you must complete a new commission table. Commission can be charged using either a fixed or variable method. See "Variable and Fixed Charges" in Section 1 of this guide for more information. The following figure is an example of the Commission Table Maintenance (COMMM) screen:
Figure 2–7. Commission Tables Maintenance screen
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Static Data
Commission Tables by Category (CTCM) This screen allows you to define commission categories. Commission categories define the commission tables to be applied to contracts with a certain country of registration and instrument type combination. To add a new commission category:
á
Enter a Commission Category and a Country of Registration. Enter the relevant Instrument Type/Commission Table combinations and switch On the Select field adjacent to each. Click the Add button.
T
Enter a Commission Category and a Country of Registration. Enter the relevant Instrument Type/Commission Table combinations and Enter "Y" in the Select field adjacent to each. Press Transmit.
To change the details of a commission category you can add, change or delete instrument type/commission table combinations. To do this you must inquire on a Commission Category and Country of Registration and then:
á
To add a new Instrument Type/Commission Table combination, enter the new information and switch On the adjacent Select field and click the Change button. To change an Instrument/Commission Table combination, change the existing information and switch On the adjacent Select field. Click the Change button. To delete an Instrument Type/Commission Table combination, switch On the Select field adjacent to the information to be deleted and click the Delete button.
T
To add a new Instrument Type/Commission Table combination, enter the new information and enter "Y" in the adjacent Select field. Enter "CHG" in the Maint field and press Transmit. To change an Instrument/Commission Table combination, change the existing information and enter "Y" in the adjacent Select field. Enter "CHG" in the Maint field and press Transmit. To delete an Instrument Type/Commission Table combination, enter "Y" in the Select field adjacent to the information to be deleted. Enter "DEL" in the Maint field and press Transmit.
Commission categories are defined on the General Purpose Narrative (GNARR), table type CC, described in the Guide to Setting Up. The commission category related to a client portfolio is defined on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide. Commission tables are defined on the Commission Table Maintenance (COMMM) screen, described earlier in this section.
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Static Data
The following figure is an example of the Commission Tables by Category (CTCM) screen:
Figure 2–8. Commission Tables by Category screen
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Static Data
Depository Data Depository Maintenance (CSDM) This screen allows you to define the depositories used by your institution and clients. If you are to be sending S.W.I.F.T. messages to or receiving S.W.I.F.T. messages from this depository, you must set up the depository as an agent, and refer to it in the "Agent Nickname" field. Agents are defined on the Agents Maintenance (AGNTM) screen, described in the Settlements Guide. The Stock Accounting Sub-balances are used to track the movement of stock between depositories during the settlement process of a contract. These fields provide the headings for fields displayed, for example, on the Transaction Stock Movements Inquiry (SATRI), from where you can see the movement of stock. The Transaction Stock Movements Inquiry (SATRI) screen, is described in Section 6 of this guide. The following figure is an example of the Depository Maintenance (CSDM) screen:
Figure 2–9. Depository Maintenance screen
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Static Data
Cash Memorandum Account Maintenance (CSCMM) This screen allows you to define cash memorandum accounts, used by some depositories for settlement purposes. These allow the participants' cash obligations arising from trading activities with a depository to be posted to this account, so the net result can be settled at the end of the day. On this screen you must enter the depository, and the CMA account number at the depository. You must also enter the General Ledger account to be used as the stock account, the currency of this account and its accounting centre. The following figure is an example of the Cash Memorandum Account Maintenance (CSCMM) screen:
Figure 2–10. Cash Memorandum Account Maintenance screen
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Principal and Portfolio Filters SX Principal Filter Maintenance (SXPRM) This screen allows you to define the general ledger account used during stock trading directly involving your institution. Different general ledger accounts can be defined for different combinations of: •
Trade Type – this can either be Investment or Trading
•
Dealer Identifier – this is the identifier of the dealer involved in a contract, set up on the Dealers and Officers (DEALR) screen, described in the Core Functions and Inquiries Guide
•
Stock Exchange Code – this is the stock exchange where the security is traded, set up on the Stock Exchanges (SEM) screen, described in Section 2 of this guide
•
either Instrument – this is a specific security for which the portfolio and general ledger account will apply
•
or Instrument Type – this is a group of securities, as defined by the Instrument Type, for which the portfolio and general ledger account will apply
You can use the SX Principal Filter Inquiry (SXPRI) screen to identify an individual principal filter and provide a list of all principal filters. This screen is described later in this section.
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Static Data
The following figure is an example of the SX Principal Filter Maintenance (SXPRM) screen:
Figure 2–11. SX Principal Filter Maintenance screen
2–18
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Static Data
Stock Exchange Portfolio Selection Maintenance (SXPSM) This screen allows you to define the portfolio used during stock trading directly involving your institution. The portfolio selection code allows different portfolios to be used for different combinations of: •
Trade Type – this can either be Investment or Trading
•
Dealer Identifier – this is the identifier of the dealer involved in a contract, set up on the Dealers and Officers (DEALR) screen, described in the Core Functions and Inquiries Guide
•
Stock Exchange Code – this is the stock exchange where the security is traded, set up on the Stock Exchanges (SEM) screen, described in Section 2 of this guide
•
either Instrument – this is a specific security for which the portfolio and general ledger account will apply
•
or Instrument Type – this is a group of securities, as defined by the Instrument Type, for which the portfolio and general ledger account will apply
Portfolio selection codes must be set up on the General Purpose Narratives (GNARR) table, type PS. This screen is described in the Guide to Setting Up. You can use the Stock Exchange Portfolio Selection Inquiry (SXPSI) screen to identify an individual portfolio selection and provide a list of all portfolio selections. This screen is described later in this section.
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Static Data
The following figure is an example of the Stock Exchange Portfolio Selection Maintenance (SXPSM) screen:
Figure 2–12. Stock Exchange Portfolio Selection Maintenance screen
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Static Data
SX Principal Filter Inquiry (SXPRI) This screen lists the principal filters currently defined. You can limit the search using the following filters; Trade Type, Dealer Identifier, Stock Exchange Code, and either Instrument Type or Instrument. Entering one of these fields will limit the search to filters containing that value. Principal filters are defined and maintained on the SX Principal Filter Maintenance (SXPRM) screen. You can link to this screen by:
á
Highlight a principal filter and click on the SX Maintenance button.
T
Enter "1" in the Link field adjacent to a principal filter and press Transmit. The following figure is an example of the SX Principal Filter Inquiry (SXPRI) screen:
Figure 2–13. SX Principal Filter Inquiry screen
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Static Data
Stock Exchange Portfolio Selection Inquiry (SXPSI) This screen lists the portfolio selections currently defined. You can limit the search using the following filters; Trade Type, Dealer Identifier, Stock Exchange Code, and either Instrument Type or Instrument. Entering one of these fields will limit the search to portfolio selections containing that value. Portfolio Selections are defined and maintained on the Stock Exchange Portfolio Selection Maintenance (SXPSM) screen. You can link to this screen by:
á
Highlight a principal filter and click on the SX Maintenance button.
T
Enter "1" in the Link field adjacent to a principal filter and press Transmit.
The following figure is an example of the Stock Exchange Portfolio Selection Inquiry (SXPSI) screen:
Figure 2–14. Stock Exchange Portfolio Selection Inquiry screen
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Static Data
External Cross Reference External Code Cross Reference Maintenance (SXXRM) This screen allows you to cross reference codes in this system with similar codes in an external information supplier. This can be used, for example, to cross reference corporate action types in this system with the corporate action types defined by FTS (Financial Times Services). When corporate action events are loaded into this system from FTS, then the corporate action type will be automatically entered. The cross reference type defines which type of code is being cross referenced. Currently this can only be a Tax Code, a Corporate Action Type, or a Stock Exchange. The cross reference types are defined on the General Purpose Narrative (GNARR) table, type XR, described in the Guide to Setting Up. The following figure is an example of the External Code Cross Reference Maintenance (SXXRM) screen:
Figure 2–15. External Code Cross Reference Maintenance screen
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Static Data
External Code Cross Reference Inquiry (SXXRI) This screen allows you to inquire on the cross references between codes in this system and similar codes of an external system supplier. These cross references are set-up using the External Code Cross Reference Maintenance (SXXRM) screen. This can be used, for example, to cross reference corporate action types in this system with the corporate action types defined by FTS (Financial Times Services). When corporate action events are loaded into this system from FTS, then the corporate action type will be automatically entered. To use this screen, you must enter a Cross Reference Type and a Data Source. The inquiry can be limited by entering a Start External Code. From this screen it is possible to link to the External Code Cross Reference Maintenance (SXXRM) screen, where you can maintain an individual cross reference. To do this:
á
Highlight a cross reference and click on the Details button.
T
Enter "1" in the Link field adjacent to a cross reference and press Transmit. The following figure is an example of the External Code Cross Reference Inquiry (SXXRI) screen:
Figure 2–16. External Code Cross Reference Inquiry screen
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Section 3 Securities Instruments Maintenance Introduction to Securities Instruments Maintenance This section provides a description of the following securities maintenance screens: •
Securities Master File Screens (STKA1) to (STKV1)
•
Security Master File - Quick Entry (STKQ1)
•
Security Master File – Soft Keys (STKXM)
•
Security Master File - Listing Maintenance (STKLM)
•
Security Master File – Overrides (STKMM)
•
Security Master File - Types (STKTM)
•
Security Master File – Security Search (STKSE)
•
Security Master File - Soft Key Inquiry (STKXI)
•
Security Master File - Listing Inquiry (STKLI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Please refer to the Starters Guide for a description of how to access and use screens.
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Securities Instruments Maintenance
Securities Master File Screens (STKA1) to (STKV1) These screens allow you to enter and inquire on information defined for securities used by your institution. To trade a security, only the information on the Security Master File - Quick Entry (STKQ1) screen need be entered. However, the details on these screens can be used to record a large array of information on a security, which can be useful for administration purposes. The information on these screens can either be entered manually, or using a third party information feed, for example the EXSHARE interface. Such an interface will regularly update the information contained in these screens. See "Securities Master File" in Section 1 of this guide for more information.
3–2
•
Security Master File - Key Data 1 (STKA1) and Key Data 2 (STKA2) Use these screens to enter and inquire on the basic details of a security, including the Company Name, Stock Name and Country of Incorporation
•
Security Master File – References and Dates (STKB1) Use this screen to enter and inquire on various dates related to the security, and other related securities in the securities master file
•
Security Master File – Classification (STKC1) Use this screen to enter and inquire on processing information defined for the security. Many of these fields are used during the settlement of securities
•
Security Master File – Income 1 (STKD1) to Income 6 (STKD6) Use these screens to enter and inquire on information related to dividend an coupon payments for the security
•
Security Master File – Earnings (STKE1) Use this screen to enter and inquire on earnings data for a security
•
Security Master File – Pricing 1 (STKF1) to Pricing 3 (STKF3) Use these screens to enter and inquire on information related to the current and historical price of a security
•
Security Master File – Mergers (STKH1) Use this screen to enter and inquire on information related to the merging of this security with another security in the securities master file
•
Security Master File – Redemptions (STKJ1) Use this screen to enter and inquire on redemption data for a security
•
Security Master File – Capital Events 1 (STKK1) and Capital Events 2 (STKK2) Use this screen to enter and inquire on capital event information related to the security. Capital events could include bonuses and rights issues
•
Security Master File – Conversion (STKL1) Use this screen to enter and inquire on conversion information related to this security
•
Security Master File – Additional Data (STKR1) Use this screen to enter and inquire on additional information related to a security. Some of the information on this screen is repeated from other screens
•
Security Master File – CREST Data (STKV1) Use this screen to enter and inquire on information relevant to the CREST depository
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The fields on these screens are not described in Section 8, "Definition of Field Names", as it is envisaged that an institution will need a third party information feed to use these screens effectively.
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Securities Instruments Maintenance
Security Master File - Quick Entry (STKQ1) This screen allows you to view the most important information on a security that is contained in your institutions security master file. This screen displays the fields necessary for processing securities, and the most important data for managing a security. If your institution does not use a third party feed to enter information into the securities master file, then you can use this screen to add, change and delete details on a security. The following figure is an example of the Security Master File - Quick Entry (STKQ1) screen:
Figure 3–1. Security Master File - Quick Entry screen
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Security Master File – Soft Keys (STKXM) This screen allows you to define codes for identifying and accessing securities. These codes are called instrument identifiers, and there can be up to 12 instrument identifiers defined for each stock identifier. Inquiring on a stock identifier will display all the instruments related to it. Inquiring on an instrument will display the stock identifier related to it, and all instruments related to that stock identifier. To add Instrument definitions to a Stock Identifier:
á
Enter the Stock Identifier and enter all relevant Instruments. Switch On the Action field adjacent to the Instruments you want to enter and Click the Add button. If the Action field is not switched On, the Instrument will not be stored.
T
Enter the Stock Identifier and enter all relevant Instruments. Enter "Y" in the Action field adjacent to the Instruments you want to enter and press Transmit. If you do not enter "Y" in the Action field, the Instrument will not be stored.
You can also change and delete instruments already defined for a stock identifier. To do this:
á
To change an Instrument, alter the relevant information and switch On the Action field adjacent to the changed Instrument. Click the Change button. To delete an Instrument, switch On the Action field adjacent to the Instrument you want to delete and click the Delete button.
T
To change an Instrument, alter the relevant information and enter "Y" in the Action field adjacent to the changed Instrument. Enter "CHG" in the Maint field and press Transmit. To delete an Instrument, enter "Y" in the Action field adjacent to the changed Instrument. Enter "DEL" in the Maint field and press Transmit. From this screen you can link to the Security Master File – Overrides (STKMM) screen. To do this:
á
Click on the Overrides button
T
Enter "1" in the Link field and press Transmit
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Securities Instruments Maintenance
The following figure is an example of the Security Master File – Soft Keys (STKXM) screen:
Figure 3–2. Security Master File – Soft Keys screen
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Securities Instruments Maintenance
Security Master File – Listing Maintenance (STKLM) This screen is used to define the stock exchanges where a security is listed, when the security is listed at more than one exchange. The security may be identified by a different stock identifier at each exchange, so on this screen you must enter the exchange where the security is listed, and its stock identifier at that exchange. For more information, see "Identifying Securities" in Section 1 of this guide. On this screen you can also stop the use of the stock exchange for trading this security, by using the Inhibit field. You can use the Security Master File - Listing Inquiry (STKLI) screen to obtain a list of all the stock exchanges linked to a stock identifier. The following figure is an example of the Security Master File – Listing Maintenance (STKLM) screen:
Figure 3–3. Security Master File - Listing Maintenance screen
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Securities Instruments Maintenance
Security Master File – Overrides (STKMM) This screen allows you to manually override certain values of a security contained in the securities master file. The values in the securities master file will remain the same, but the new override values will be used when any processing is required. To add a new override:
á
Enter the Instrument name and any information to be overridden. Click the Add button.
T
Enter the Instrument name and any information to be overridden. Press Transmit.
To change information in an existing override:
á
Inquire on an Instrument name and change any information necessary. This can include deleting information from fields if a particular override is no longer necessary. Click the Change button.
T
Inquire on an Instrument name and change any information necessary. This can include deleting information from fields if a particular override is no longer necessary. Enter "CHG" in the Maint field and press Transmit. To remove all the override instructions for an instrument:
3–8
á
Inquire on an Instrument name and click the Delete button.
T
Inquire on an Instrument name, enter "DEL" in the Maint field and press Transmit.
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The following figure is an example of the Security Master File – Overrides (STKMM) screen:
Figure 3–4. Security Master File - Overrides screen
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Securities Instruments Maintenance
Security Master File - Types (STKTM) This screen allows you to link a Security Type from the Security Master File to an Instrument Type within Banking Back-Office. An instrument type will normally contain many security types, covering a broad category such as equities. This allows for easier processing by grouping together securities that are to be processed in a similar way. Before a security type can be assigned to an instrument type, the instrument type must be defined on the General Purpose Narratives (GNARR), table type IT, described in the Guide to Setting Up. The following figure is an example of the Security Master File - Types (STKTM) screen:
Figure 3–5. Security Master File - Types screen
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Securities Instruments Maintenance
Security Master File – Security Search (STKSE) This screen allows you to inquire on the Securities in your system. The Stock Identifiers of all securities are shown, arranged by either Company Name or Security Name. From this screen you can link to the following screens: •
Security Master File – Soft Keys (STKXM)
•
Security Master File – Overrides (STKKM)
•
One of the Securities Master File Screens (STKA1) to (STKR1)
To link to these screens:
á
Highlight the security you want further details on and click the either the Override or the Soft Keys button to go to the Security Master File – Overrides (STKKM) or the Security Master File – Soft Keys (STKXM) screen respectively.
T
Enter either "1" or "2" in the Link fields adjacent to the security you want further details on and press Transmit to go to the Security Master File – Overrides (STKKM) or the Security Master File – Soft Keys (STKXM) screen respectively To link to one of the Securities Master File Screens (STKA1) to (STKV1), for further information on a security. To do this:
á
Enter the screen you want to link to in the Link To field, adjacent to the security you want further information on. Click the OK button
T
Enter the mnemonic of the screen you want to link to in the Link To field, adjacent to the security you want further information on. Press Transmit
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Securities Instruments Maintenance
The following figure is an example of the Security Master File – Security Search (STKSE) screen:
Figure 3–6. Security Master File - Security Search screen
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Securities Instruments Maintenance
Security Master File – Soft Key Inquiry (STKXI) This screen allows you to view the stock identifiers related to an instrument. This is used when an instrument is linked to more than one stock identifer, which may have happened because the security is listed at different exchanges with different stock identifiers. When entering a contract for a security listed at different exchanges, it is necessary to enter the stock exchange to determine which stock identifier is used. See "Identifying Securities" in Section 1 of this guide for more information. From this screen, you can link to one of the Securities Master File Screens (STKA1) to (STKV1), for further information on a security. To do this:
á
Select the screen you want to link to in the Link To field, adjacent to the security you want further information on. Click the Link To button
T
Enter the mnemonic of the screen you want to link to in the Link To field, adjacent to the security you want further information on. Press Transmit From this screen you can also link to the following screens: •
Security Master File - Overrides (STKMM)
•
Security Master File - Soft Keys (STKXM)
•
Security Master File - Listing Inquiry (STKLI)
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Securities Instruments Maintenance
The following figure is an example of the Security Master File – Soft Key Inquiry (STKXI) screen:
Figure 3–7. Security Master File - Soft Key Inquiry screen
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Securities Instruments Maintenance
Security Master File – Listing Inquiry (STKLI) This screen allows you to view the stock exchanges where a stock identifier is listed. You must enter an instrument linked to the stock identifier. The inquiry will then display all stock exchanges where that stock identifier is listed, as well as the source of the record, and whether the stock is currently inhibited at that exchange. If an instrument is linked to more than one stock identifier, you must also identify the exchange where the stock identifier you are interested in is listed. A list of all stock identifiers linked to an instrument can be found on the Security Master File - Soft Keys Inquiry (STKXI) screen. See "Identifying Securities" in Section 1 of this guide for more information on stock identifiers, instruments and stock exchanges. From this screen, you can link to one of the Securities Master File Screens (STKA1) to (STKV1), for further information on a security. To do this:
á
Select the screen you want to link to in the Link To field, adjacent to the security you want further information on. Click the Link To button
T
Enter the mnemonic of the screen you want to link to in the Link To field, adjacent to the security you want further information on. Press Transmit From this screen you can also link to the following screens: •
Security Master File - Listing Maintenance (STKLM)
•
Security Master File - Soft Keys (STKXM)
•
Security Master File - Overrides (STKMM)
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Securities Instruments Maintenance
The following figure is an example of the Security Master File – Listing Inquiry (STKLI) screen:
Figure 3–8. Security Master File - Listing Inquiry screen
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Section 4 Corporate Actions Introduction to Corporate Actions This section provides a description of the following screens used for setting up corporate actions: •
Corporate Action Type Maintenance (SACDM)
•
Corporate Action Product Definitions (SACPM)
•
Corporate Action Fee Code Maintenance (SACFM)
•
Corporate Action Tax Code Maintenance (SATXM)
•
Corporate Action Local Tax Code Maintenance (SALTM)
This section also provides a description of the following corporate actions maintenance screens: •
Corporate Action Notification Maintenance (SACNM)
•
Corporate Action Entitlement Maintenance (SACXM)
•
Corporate Action Instruction Maintenance (SACIM)
This section also provides descriptions of the following corporate actions inquiry screens: •
Corporate Action Type Inquiry (SACDI)
•
Corporate Action Instructions Inquiry (SACII)
•
Corporate Action Notification Inquiry (SACNI)
•
Corporate Action Product Inquiry (SACPI)
•
Corporate Action Entitlements Inquiry (SACXI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Please refer to the Starters Guide for a description of how to access and use screens.
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Setting Up Corporate Actions Corporate Action Type Maintenance (SACDM) This screen allows you to define the corporate action types in your system. A corporate action type is assigned to each notification event, and will define the basic characteristics of that notification. If your system is receiving notifications from an outside information supplier, then the corporate action types must either be the same as those used by the supplier, or types created in your institution must be linked to those from the supplier (this is done on the External Code Cross Reference Maintenance (SXXRM) screen). Each corporate action type consists of one or more elements. The elements define the actions that can be performed during the processing of this event, for example a cash distribution or new stock replacing the old stock. There are six elements that can be selected, using the Element field. See Corporate Action Types in Section 1 of this guide for more information. Each corporate action type must be marked as either a capital or an income event:
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•
Capital events affect the book value of the underlying holding. A capital event is an event that will affect the companies capital structure.
•
Income events do not affect the book value of the underlying holding. An income event is an event that affects the companies profits.
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The following figure is an example of the Corporate Action Type Maintenance (SACDM) screen:
Figure 4–1. Corporate Action Type Maintenance screen
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Corporate Actions
Corporate Action Product Definitions (SACPM) This screen allows you to define the product type that is given to each entitlement. The product type is used in processing the transaction created from an entitlement. The product type allows the allocation of appropriate transaction models. The information necessary to link a contract leg to a Product Type comes from the following locations:
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•
Corporate Action Types are set up on the Corporate Action Type Maintenance (SACDM) screen
•
Depository is taken from the entitlement, and refers to the user's institution's transit depository, used during settlement processing. Enter "********" in this field to allow this product type to apply to any depository.
•
Custody Type is taken from the Custody Model already identified and applied to a specific entitlement. (See the Custody Model Maintenance (SXCMM) screen, described in this section). Enter "*******" in this field to allow this product type to apply to any custody type.
•
Acceptance Instruction is taken from the entitlement, and is only applicable to corporate actions that have an optional element
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The following figure is an example of the Corporate Action Product Definitions (SACPM) screen:
Figure 4–2. Corporate Action Product Definitions screen
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Corporate Actions
Corporate Action Fee Code Maintenance (SACFM) This screen allows you to set up the fee codes that can be applied to corporate action events. Fee codes can be defined at the notification level, on the Corporate Action Notification Maintenance (SACNM) screen, and at the entitlement level, on the Corporate Action Entitlement Maintenance (SACXM) screen. Fees defined at notification level will be applied to each entitlement created for that notification, but can be altered for individual entitlements. The instrument type field defines for which instruments a particular fee code can be applied. Stock exchange charges can be applied using either a fixed or variable method. See "Variable and Fixed Charges" in Section 1 of this guide for more information. The following figure is an example of the Corporate Action Fee Code Maintenance (SACFM) screen:
Figure 4–3. Corporate Action Fee Code Maintenance screen
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Corporate Action Tax Code Maintenance (SATXM) This screen allows for the maintenance of withholding tax codes for corporate actions. Tax codes can be applied to a notification, which will then be used to calculate the tax rate used for each entitlement and is used to derive local and foreign tax rates. Calculated tax rates can be overridden in the entitlement. Tax codes are defined on the General Purpose Narrative (GNARR) table, type TC, described in the Guide to Setting Up. The following figure is an example of the Corporate Action Tax Code Maintenance (SATXM) screen:
Figure 4–4. Corporate Action Tax Code Maintenance screen
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Corporate Actions
Corporate Action Local Tax Code Maintenance (SALTM) This screen allows you to define double taxation agreements between countries, including the relief rate on tax. When a portfolio managed in one country is buying a security listed in another country, then if no double taxation agreement exists, the full tax rate for both countries will be applied. If a double taxation agreement exists, then the country where the portfolio is managed will reduce the tax they charge by an amount contained in the Relief Rate field. Tax codes are used on the Corporate Action Notification Maintenance (SACNM) screen, where only the tax code is entered. Individual entitlements do not display the tax code, but instead show the final figure calculated from the tax code. The system uses the same tax codes for both foreign and local tax, they are defined on the General Purpose Narrative (GNARR) table, type TC, described in the Guide to Setting Up. The following figure is an example of the Corporate Action Local Tax Code Maintenance (SALTM) screen:
Figure 4–5. Corporate Action Local Tax Code Maintenance screen
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Corporate Actions
Corporate Actions Maintenance Screens Corporate Action Notification Maintenance (SACNM) This screen allows you to view, add, change, or delete notifications. This screen may also be used to change the authorisation status of a notification before it can undergo different stages of processing. The notification contains the details of a corporate action event, which will be used to create the individual entitlements. Notifications are identified by the stock they affect (using a valid instrument), the Ex Date, and an individual reference number. Notifications can either be manually created, or loaded automatically from a third party information provider. If created, you must enter all relevant details of the notification. If loaded, the notification will contain all relevant details, which can be reviewed and altered if necessary. At certain stages in the processing of a corporate action event, you may need to return to this screen to authorise the next stage in the process. See Processing Corporate Actions in Section 1 of this guide for more information on when this must happen. The following figure is an example of the Corporate Action Notification Maintenance (SACNM) screen:
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Corporate Actions
Figure 4–6. Corporate Action Notification Maintenance screen
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Corporate Actions
Corporate Action Entitlement Maintenance (SACXM) This screen allows you to view, add, and change each individual entitlement created for a corporate action event. A corporate action event is defined by a notification. When this is processed using the SACORPANL - Corporate Action Event Analysis report, individual entitlements for every affected holding are created. On this screen you can view and change these entitlements, or add new entitlements to the notification. Each entitlement is identified by the security it affects (using a valid instrument), a reference number related to the notification, the portfolio, and custody location of the affected holding. You can inquire on the entitlements in a notification on the Corporate Action Entitlement Inquiry (SACXI) screen. From this screen you can link to the following screens: •
Corporate Action Instruction Maintenance (SACIM) to enter acceptance instructions for groups of entitlements
•
Corporate Action Notification Maintenance (SACNM) to view or maintain the notification of which the entitlement is part
•
SX Diary - SX Transaction Diary Browse (SXTDB) to view the transaction diary created for this entitlement
•
Stock Movements - Transaction Stock Movements Inquiry (SATRI) to view the stock movements related to this entitlement
When a notification has been processed, and stock exchange contracts created for each entitlement, this screen will display the contract number for this entitlement. The following figure is an example of the Corporate Action Entitlement Maintenance (SACXM) screen:
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Corporate Actions
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Corporate Actions
Figure 4–7. Corporate Action Entitlement Maintenance screen
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Corporate Actions
Corporate Action Instruction Maintenance (SACIM) This screen allows you to input portfolio manager acceptance instructions for optional notification events. Acceptance instructions are applied to each entitlement and define whether the offer is accepted fully, accepted in part, or rejected. The entitlements that will be affected by acceptance instructions entered on this screen are defined by the mandatory fields in the top window. The Instrument, Ex Date and Reference define the notification event to which the entitlements belong. The Portfolio Manager and Portfolio Type identify the group of entitlements that will be assigned the instruction. An acceptance instruction entered here will be applied to all of the entitlements for the specified corporate action event that match the portfolio manager and portfolio type entered. Instructions entered manually for an entitlement are not affected. Changes to acceptance instructions are not applied to an entitlement immediately, but when the report SACORPANL - Corporate Action Event Analysis is next run. The Corporate Action Instructions Inquiry (SACII) screen (described later in this section) can be used to ensure that all of the entitlements affecting portfolios under a portfolio managers control have been assigned instructions. It is possible to enter or override instructions for each entitlement using the Corporate Action Entitlement Maintenance (SACXM) screen. Instructions used in your system must be set up on the General Purpose Narrative (GNARR) table, type CA. See the Guide to Setting Up for more information. The following figure is an example of the Corporate Action Instruction Maintenance (SACIM) screen:
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Corporate Actions
Figure 4–8. Corporate Action Instruction Maintenance screen
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Corporate Actions
Corporate Actions Inquiry Screens Corporate Action Type Inquiry (SACDI) This screen allows you to view the corporate action types currently defined within this system. The inquiry can be limited by using the Start Corporate Action Type. From this screen you can link to the Corporate Action Type Maintenance (SACDM) screen to obtain further details or maintain an individual corporate action type. The following figure is an example of the Corporate Action Type Inquiry (SACDI) screen:
Figure 4–9. Corporate Action Type Inquiry screen
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Corporate Actions
Corporate Action Instructions Inquiry (SACII) This screen allows you to view details of all portfolio manager acceptance instructions for a specific corporate action event. Acceptance instructions are defined on the Corporate Action Instructions Maintenance (SACIM) screen. From this screen you can link to the following screens: •
Corporate Action Instruction Maintenance (SACIM) to view the instruction details for the entitlements in a notification
•
Corporate Action Notification Maintenance (SACNM) to view the details of a notification
•
Corporate Action Entitlement Inquiry (SACXI) to view the details of the entitlements in this notification
The following figure is an example of the Corporate Action Instructions Inquiry (SACII) screen:
Figure 4–10. Corporate Action Instructions Inquiry screen
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Corporate Actions
Corporate Action Notification Inquiry (SACNI) This screen allows you to view the notifications in your system. Notifications can either have been received from an outside source, or entered manually on the Corporate Action Notification Maintenance (SACNM) screen. You can limit the inquiry by entering one or more of the fields in the top window. For example by entering an Instrument, only notifications that affect a security with this instrument are displayed. You can suppress the display of completed events using the Show Processed field. From this screen you can link to the following screens: •
Corporate Action Notification Maintenance (SACNM) to view the details of a notification
•
Corporate Action Instructions Inquiry (SACII) to view the instruction details for the entitlements in a notification
•
Corporate Action Entitlement Inquiry (SACXI) to view the entitlements in a notification
The following figure is an example of the Corporate Action Notification Inquiry (SACNI) screen
Figure 4–11. Corporate Action Notification Inquiry screen
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Corporate Actions
Corporate Action Product Inquiry (SACPI) This screen allows you to view the product types allocated to a corporate action type and depository combination. From this screen you can link to the Corporate Action Product Definitions (SACPM) screen where you can view and maintain each corporate action type/product type combination. To do this:
á
Highlight a corporate action type/product type combination and click the Details button
T
Enter "Y" in the Link field adjacent to the corporate action type/product type combination you want more information on and press Transmit The following figure is a Corporate Action Product Inquiry (SACPI):
Figure 4–12. Corporate Action Product Inquiry screen
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Corporate Actions
Corporate Action Entitlement Inquiry (SACXI) This screen allows you to view the entitlements created for a notification. Before using this screen you must have run the SACORPANL - Corporate Action Event Analysis report, which will create the entitlements for a notification. Entitlements can also be manually entered. To use this screen, you must identify the notification for which you want to view entitlements. To do this, enter an Instrument Identifier of the underlying security, the Ex Date, and the Reference Number of the notification. This will display all entitlements related to the notification. The other fields in the top window allow the search to be filtered to find entitlements with certain properties, for example entitlements belonging to one portfolio. From this screen you can link to the Corporate Action Entitlement Maintenance (SACXM) screen to view and maintain the details of an entitlement. To do this:
á
Highlight an entitlement and click the Details button
T
Enter "Y" in the Link field adjacent to the entitlement you want more information on and press Transmit The following figure is an example of the Corporate Action Entitlement Inquiry (SACXI) screen:
Figure 4–13. Corporate Action Entitlement Inquiry screen
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Section 5 Alerts and Notes Introduction to Alerts and Notes This section provides a description of the following alerts and notes screens: •
Alert Kinds (ALRKM)
•
Narrative Maintenance (NARRM)
•
Alert Queue (ALRTQ)
•
Notes Maintenance (NOTEM)
•
Notes Inquiry (NOTEI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Please refer to the Starters Guide for a description of how to access and use screens.
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Alerts and Notes
Alert Kinds (ALRKM) This screen allows you to define the alerts that can be applied to messages received by the system. Alerts mark the incoming messages that require manual processing, with different alerts possible for different message types from different sources. A list of the unprocessed messages with alerts attached can be viewed on the Alert Queue (ALRTQ) screen, described in this section. Alerts are assigned to message types on the SX Output Message Models (SXOMM) screen, described in Section 7 of this guide. When an alert occurs, it can be passed to specific users. For each alert kind you can specify the users who are notified when an alert of that kind is created. A message appears on the status bar at the bottom of the screen. Enter the users to be alerted in the Alert User 1 to Alert User 5 fields. The following figure is an example of the Alert Kinds (ALRKM) screen:
Figure 5–1. Alert Kinds screen
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Alerts and Notes
Narrative Maintenance (NARRM) This screen allows you to define the narrative codes that can be applied to stock exchange securities contracts. To define a narrative code, you must enter a unique narrative code, and the narrative text that is to apply to the code. Narratives can also be included on notes created for a contract. Notes for contracts are created on the Notes Maintenance (NOTEM) screen, described later in this section. The following figure is an example of the Narrative Maintenance (NARRM) screen:
Figure 5–2. Narrative Maintenance screen
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Alerts and Notes
Alert Queue (ALRTQ) This screen allows you to view all the alerts currently in the system. An alert is raised if manual processing is required, if tracking is required for a particular contract type, or if an error has occurred and needs the attention of a user. The search can be limited using the filter fields at the top of the screen, including; Date Range, Sequence Number, Actioned, Alert Kind, Priority, and Source. The Alert Queue is split into two sections, actioned and unactioned. The alert starts on the unactioned queue. When a user comes to deal with the alert, it is moved to the actioned queue to show that it is being dealt with. To move the alert from unactioned to actioned:
á
Switch On the Select field adjacent to the message you want to action and click the OK button
T
Enter "Y" in the Select field adjacent to the message you want to action and press Transmit
Messages that are marked as actioned cannot be moved back to unactioned, but can be removed from the alert queue. To do this:
á
Switch On the Select field adjacent to the message you want to action and click the OK button
T
Enter "Y" in the Select field adjacent to the message you want to action and press Transmit If further information is required on an alert you can link to either the Message Inquiry (MSGI) or Notes Maintenance (NOTEM) screen. To do this:
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á
Click the Message Inquiry or Notes Maintenance button to go to the Message Inquiry (MSGI) or Notes Maintenance (NOTEM) screen respectively
T
Enter "Y" in the Confirm field and press Transmit
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The following figure is an example of the Alert Queue (ALRTQ) screen:
Figure 5–3. Alert Queue screen
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Alerts and Notes
Notes Maintenance (NOTEM) This screen allows you to enter extra information, reminders, or instructions relevant to the contract. This can either be in the form of a narrative code, or a free format message. You can view the notes already existing for a contract using the Notes Inquiry (NOTEI) screen, described later in this section. The note can be raised as an alert, and included on the Alert Queue (ALRTQ) screen. To do this, you must assign an Alert Kind and a date that the alert will be raised on. Alert Kinds are set up on the Alert Kinds (ALRKM) screen, described earlier in this section. The following figure is an example of the Notes Maintenance (NOTEM) screen:
Figure 5–4. Notes Maintenance screen
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Notes Inquiry (NOTEI) This screen allows you to inquire on the notes related to a contract. If a contract has many notes, you can limit the search using the sequence number field. Entering a value in this field will display notes with sequence numbers after this. Notes are entered and maintained on the Notes Maintenance (NOTEM) screen, described earlier in this section. To link to this screen:
á
Highlight the note you want to maintain, and click the Details button.
T
Enter "1" in the Link field adjacent to the note you want to maintain and press Transmit
The following figure is an example of the Notes Inquiry (NOTEI) screen:
Figure 5–5. Notes Inquiry screen
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Alerts and Notes
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Section 6 Entering and Inquiring on Stock Exchange Contracts Introduction to Entering and Inquiring on Stock Exchange Contracts This section provides a description of the following contract entry, maintenance and inquiry screens: Contract Entry •
SX Contract Common Add (SXCCA)
•
SX Contract Portfolio Add (SXCPA)
•
SX Contract Charges Add (SXCTA)
Custody Maintenance •
Custody Transfer (SXTFA)
•
Holding Transaction Maintenance (SAHLM)
Contract Maintenance •
SX Contract Cancellation (SXCNX)
•
SX Transaction Diary Maintenance (SXTDM)
•
SX Unmatched Contract Browse (SXCUB)
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Contract Inquiry •
SX Contract Common Inquiry (SXCCI)
•
SX Contract Common Browse (SXCCB)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Contract Portfolio Browse (SXCPB)
•
SX Transaction Diary Browse (SXTDB)
•
SX Message Browse (SXMB)
•
Holdings Inquiry (SAPNI)
•
Holding Transactions Inquiry (SAPSI)
•
Transaction Stock Movements Inquiry (SATRI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Refer to the Starters Guide for a description of how to access and use screens.
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Contract Entry Screens SX Contract Common Add (SXCCA) This screen allows you to enter the details of a stock exchange securities contract that are common to all legs of the contract. After completing the common details, you will be taken to the SX Contract Portfolio Add (SXCPA) screen to add details for the individual legs of the contract. Many of the fields have information entered by default, although the information in them can be changed for individual contracts. The following fields contain defaulted information: •
Dealer Identifier and Accounting Centre are defaulted from the information set up for the current user logged onto the system. This information is set up on the Users Maintenance (USERS) screen, described in the Guide to Setting Up.
•
SX Code, Instrument Type, Settlement Type and Quotation Unit are defaulted from information set up for a stock exchange security. See "Securities Instrument Maintenance" in Section 3 of this guide, for more information on the screens used to enter this information.
•
Settlement Depository is the depository to be used by your institution for this contract. This is set up on the Custody Model Maintenance (SXCMM) screen, described in Section 7 of this guide.
Conditions can be applied to a contract to alter the way in which it is processed. A contract can have up to two conditions applied to it, using the fields Contract Condition Code 1 and 2. Conditions are set up on the Stock Exchange Contract Conditions (CCDNM) screen, described in Section 2 of this guide. To enter a contract:
á
Enter an Instrument and valid Stock Exchange Code to uniquely identify the security to be traded. Enter a Trade Type and click the OK button. If all the mandatory fields have default information set up for them, then these will be displayed. Otherwise an error message will appear asking you to fill in any mandatory information that does not have a default value.
T
Enter an Instrument and valid Stock Exchange Code to uniquely identify the security to be traded. Enter a Trade Type and press Transmit. If all the mandatory fields have default information set up for them, then these will be displayed. Otherwise an error message will appear asking you to fill in any mandatory information that does not have a default value.
When all the mandatory fields have been completed, either manually, or using default values, you can confirm the contract. To do this:
á
Click the Confirm button
T
Enter "Y" in the Confirm field and press Transmit You will be taken to the SX Contract Portfolio Add screen to enter the first leg of the contract.
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Entering and Inquiring on Stock Exchange Contracts
To abort a contract: Before you have confirmed a contract, it is possible to abort the process and start again. After aborting a contract, you will remain on the SX Contract Common Add (SXCCA) screen, but all information will be deleted allowing you to re-enter a contract. To abort a contract:
á
Click the Abort button
T
Enter "Y" in the Abort field and press Transmit The following figure is an example of the SX Contract Common Add (SXCCA) screen:
Figure 6–1. SX Contract Common Add screen
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SX Contract Portfolio Add (SXCPA) This screen allows you to enter details of an individual leg of a stock exchange contract. The legs that make up a contract can be buying or selling from a client, from your institution, or from a third party, for example a broker. However, the total amount bought and the total amount sold of the security must be equal. You can only enter this screen from the SX Contract Common Add (SXCCA) screen, on which you enter the common details of a contract. The legs of a contract must be entered in a specific order. This is dependent on the Trade Type, and is as follows: •
Agency – enter all third party portfolio legs before entering all client portfolio legs
•
Principle to Client – enter all bank portfolio legs before entering all client portfolio legs
•
Principle to Market – enter all third party portfolio legs before entering all bank portfolio legs
•
Agency Cross – enter legs from each client portfolio in turn
Entering a leg of a stock exchange securities contract: On this screen you must enter a valid portfolio in the Portfolio field. If there are more legs to be entered after the current one, you must also enter a portfolio in the Next Portfolio field. Once you have entered a portfolio, you can call up the default values related to it. To do this:
á
Click the OK button
T
Press Transmit Once you have entered all the fields necessary for this leg of the contract, you can link to the SX Contract Charges Add (SXCTA) screen to review/update the charges applied to this leg. To do this:
á
Click the More Details button
T
Enter "Y" in the More Details field and press Transmit After reviewing/updating the charges, you are returned to this screen where you can confirm the details. If another portfolio has been entered in the Next Portfolio field, then this screen will be displayed again for you to enter another leg for that portfolio. If no portfolio is entered in the Next Portfolio field, then the contract is considered to be complete and is entered into the system. To confirm the details of a leg:
á
Click the Confirm button
T
Enter "Y" in the Confirm field and press Transmit
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Aborting a leg of a stock exchange securities contract: At any time during the entry of a leg of a contract you can abort the current entry and restart. When you abort a leg, all information will be removed from the screen allowing you to re-enter the leg, or abort the contract. To abort a leg of a contract:
á
Click the Abort button
T
Enter "Y" in the Abort field and press Transmit
Note:
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If the exchange rate entered for calculating the Settlement Gross amount is close to 1, then you must enter the Settlement Gross amount, as the system will not be able to calculate it automatically.
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The following figure is an example of the SX Contract Portfolio Add (SXCPA) screen:
Figure 6–2. SX Contract Portfolio Add screen
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Entering and Inquiring on Stock Exchange Contracts
SX Contract Charges Add (SXCTA) This screen allows you to change the charge amounts applicable to a leg of a contract. You can access this screen from the SX Contract Portfolio Add (SXCPA) screen, the charges applicable to the contract leg will be displayed automatically. Once you have completed the information on this screen, you must return to the SX Contract Portfolio Add (SXCPA) screen to confirm this contract leg. To do this:
á
Click the Confirm button
T
Enter "Y" in the Confirm field and press Transmit
The following figure is an example of the SX Contract Charges Add (SXCTA) screen:
Figure 6–3. SX Contract Charges Add screen
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Contract Maintenance Screens SX Contract Cancellation (SXCNX) This screen allows you to cancel a stock exchange contract that has been entered into the system. Cancellation of contracts that have already been matched by the depository can only occur if the depository allows deletion of matched contracts. Whether a depository allows this is recorded in the Matched Deletions Allowed field on the Depository Maintenance (CSDM) screen To cancel a contract:
á
Enter the contract number and cancellation reason, and then click the OK button. The details of the contract will be displayed. To proceed with the cancellation, click the Confirm button. To stop the cancellation process, click the Abort button.
T
Enter the contract number and cancellation reason, and then press Transmit. The details of the contract will be displayed. To proceed with the cancellation, enter "Y" in the Confirm field and Press Transmit. To stop the cancellation process, enter "Y" in the Abort field and press Transmit. The following figure is an example of the SX Contract Cancellation (SXCNX) screen:
Figure 6–4. SX Contract Cancellation screen
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SX Transaction Diary Maintenance (SXTDM) This screen allows you to review the transaction events for a contract leg. You should use this screen to repair transaction diaries that are either incorrect, or have failed to settle for some reason. To repair a transaction diary, you can either review the current transaction events, making any necessary changes, or create new transaction events. To identify the contract leg, you must enter the Contract Number and Transaction Leg fields. The transaction events are displayed in Sequence Order, defined on the SX Transaction Model Detail Maintenance (SXEDM) screen, described in Section 7. For a list of all the transaction events for a contract, use the SX Transaction Diary Browse (SXTDB) screen. When you have finished reviewing one transaction event, you can inquire on the next Transaction Event in the sequence. To do this:
á
Click the Next button
T
Enter "1" in the Link to Next Event field and press Transmit The following figure is an example of the SX Transaction Diary Maintenance (SXTDM) screen:
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Figure 6–5. SX Transaction Diary Maintenance screen
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SX Unmatched Contract Browse (SXCUB) This screen allows you to view the contract legs that have failed to match with a counterparty. This screen also allows you to view unmatched corporate action contracts. An unmatched contract signifies a difference in the key details of a contract between the two parties. This discrepancy is identified either by the settlement custodian, by the system being unable to match an incoming message, or by the failure of a contract counterparty to allege the contract. From this screen, you can link to the following screens: •
SX Contract Common Inquiry (SXCCI) (for corporate actions, this link will take you to the Corporate Action Entitlement Maintenance (SACXM) screen)
•
SX Contract Portfolio Browse (SXCPB)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Transaction Diary Browse (SXTDB)
•
SX Contract Cancellation (SXCNX)
•
Transaction Stock Movements Inquiry (SATRI)
•
Notes Inquiry (NOTEI)
The following figure is an example of the SX Unmatched Contract Browse (SXCUB) screen:
Figure 6–6. SX Unmatched Contract Browse screen
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Custody Maintenance Screens Custody Transfer (SXTFA) This screen allows for the input of a custody transfer transaction. The following types of transfer are allowed: •
Client Holding to Client Holding
•
Third Party Holding to Client Holding
•
Client Holding to Third Party Holding
When transferring from an existing client holding, the cost will be calculated from the existing holding costs, proportional to the amount transferred. To enter a custody transfer, you must identify the instrument to be transferred, the quantity of instrument and whether it is to be bought or sold. For a 'Buy' transfer, you must identify the portfolio from which the stock is being transferred in the 1st Portfolio field. You must also identify the portfolio to which the stock is being transferred in the 2nd Portfolio field. Finally you must identify the dealer and the accounting centre of the transfer. Then:
á
Click the OK button
T
Press Transmit Any default values will be displayed, including the settlement depository to be used for your institution, the 1st Portfolio's custody location and the 2nd Portfolio's custody location. For these to be displayed, appropriate custody models must have been set-up in advance (see Custody Models in Section 1 of this guide). If these settlement depositories are not defaulted, they must be entered. When all other the mandatory fields have been completed, either manually, or using default values, you can confirm the transfer. To do this:
á
Click the Confirm button
T
Enter "Y" in the Confirm field and press Transmit To abort a transfer: Before you have confirmed a transfer, it is possible to abort the process and start again. After aborting a transfer, you will remain on the Custody Transfer (SXTFA) screen, but all information will be deleted allowing you to re-enter a transfer. To abort a transfer:
á
Click the Abort button
T
Enter "Y" in the Abort field and press Transmit
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The following figure is an example of the Custody Transfer (SXTFA) screen:
Figure 6–7. Custody Transfer screen
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Holding Transaction Maintenance (SAHLM) This screen allows you to enter manual custody accounting transactions. You can also use this screen to inquire on the full details of any holding transaction. If used as an inquiry screen, it can be linked to from the Holding Transaction Inquiry (SAPSI) screen, where you can select a holding transaction to view. Manual account transactions cannot be changed once entered, but instead must be reversed, and then re-entered. Manual holding transactions update custody accounting positions directly, and do not create either cash accounting positions, or settlement messages. Therefore, after entering a manual holding transaction, it is not necessary to run the processing reports SXACTN - SX Transaction Diary Processing or SAACTN - SA Transaction Diary Processing. A manual holding transaction can be used to: •
Correct a reconciliation error in a custody holding
•
Take on a history of client custody transactions (for example for taxation or performance purposes)
•
Enter a transaction manually (for example for low volume business where it is uneconomical to set up all necessary static data)
From this screen you can link to the Transaction Stock Movement Inquiry (SATRI) screen. To do this:
á
Highlight a transaction, and click the Stock Inquiry button.
T
Enter "1" in the Link field adjacent to the note you want to maintain and press Transmit
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The following figure is an example of the Holding Transaction Maintenance (SAHLM) screen:
Figure 6–8. Holding Transaction Maintenance screen
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Contract Inquiry Screens SX Contract Common Inquiry (SXCCI) This screen allows you to inquire on the details of a contract common to all legs. To inquire on a contract, you must enter its contract number. All contracts in the system can be viewed on the SX Contract Common Browse (SXCCB) screen, described later in this section. From this screen you can link to the following screens: •
SX Contract Portfolio Inquiry (SXCPI)
•
SX Transaction Diary Browse (SXTDB)
•
Transaction Stock Movements Inquiry (SATRI)
•
SX Contract Portfolio Browse (SXCPB)
The following figure is an example of the SX Contract Common Inquiry (SXCCI) screen:
Figure 6–9. SX Contract Common Inquiry screen
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SX Contract Common Browse (SXCCB) This screen allows you to inquire on the stock exchange securities contracts in your system. The inquiry can be limited by applying one or more of the following search filters: •
Date Range – Limit the search to contracts entered after a date or before a date
•
Instrument – Limit the search to contracts trading one instrument
•
Contract Number – Limit the search to one contract
•
Trade Type – Limit the search to contracts of one trade type
From this screen you can link to the following contract inquiry screens:
6–18
•
SX Contract Common Inquiry (SXCCI)
•
SX Message Browse (SXMB)
•
Notes Inquiry (NOTEI)
•
SX Contract Portfolio Browse (SXCPB)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Transaction Diary Browse (SXTDB)
•
SX Contract Cancellation (SXCNX)
•
Transaction Stock Movements Inquiry (SATRI)
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The following figure is an example of the SX Contract Common Browse (SXCCB) screen:
Figure 6–10. SX Contract Common Browse screen
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SX Contract Portfolio Inquiry (SXCPI) This screen allows you to inquire on the portfolio details of individual legs of a contract. To view a single leg of a contract, enter the Contract Number, and the sequential number identifying the leg in the Transaction Leg field. To view all the legs of a contract, use the SX Contract Portfolio Browse (SXCPB) screen. You can move to another leg of the contract either by entering a different number in the Transaction Count field, or by moving to the next leg. To do this:
á
Click the Next Portfolio button
T
Enter "Y" in the Next Portfolio field and press Transmit
From this screen, you can link to the following screens •
SX Contract Common Inquiry (SXCCI)
•
SX Transaction Diary Browse (SXTDB)
•
Transaction Stock Movements Inquiry (SATRI)
The following figure is an example of the SX Contract Portfolio Inquiry (SXCPI) screen:
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Figure 6–11. SX Contract Portfolio Inquiry screen
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SX Contract Portfolio Browse (SXCPB) This screen allows you to view the transaction legs that make up a contract. The Transaction Leg field shows the order in which the leg was entered. By entering a value in this field you can limit the inquiry to the legs of a contract entered after this number. From this screen you can link to the following screens: •
SX Transaction Diary Browse (SXTDB)
•
Transaction Stock Movement Inquiry (SATRI)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Contract Common Inquiry (SXCCI)
The following figure is an example of the SX Contract Portfolio Browse (SXCPB) screen:
Figure 6–12. SX Contract Portfolio Browse screen
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SX Transaction Diary Browse (SXTDB) This screen allows you to inquire on the transaction events related to a contract leg. To identify the contract leg, you must enter the Contract Number and Transaction Leg. The transaction count is the order in which the contract leg was entered. From this screen you can link to the following screens: •
SX Transaction Diary Maintenance (SXTDM)
•
SX Contract Common Inquiry (SXCCI)
•
SX Contract Portfolio Inquiry (SXCPI)
•
Transaction Stock Movements Inquiry (SATRI)
The following figure is an example of the SX Transaction Diary Browse (SXTDB) screen:
Figure 6–13. SX Transaction Diary Browse screen
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SX Message Browse (SXMB) This screen allows you to inquire on the messages sent and received. The inquiry can be limited either by viewing sent or received messages, or by entering a contract number. From this screen you can link to the following screens: •
Output from Message Inquiry (MSGI), described in the Settlements Guide
•
Transaction Stock Movements Inquiry (SATRI)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Contract Common Inquiry (SXCCI)
The following figure is an example of the SX Message Browse (SXMB) screen:
Figure 6–14. SX Message Browse screen
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Holdings Inquiry (SAPNI) This screen allows you to view the assets held by your institution and by your clients. You can limit the search by using any combination of portfolio, instrument and depository. From this screen you can link to the Holding Transactions Inquiry (SAPSI) screen, where you can view the transactions that have made up a stock holding. To do this:
á
Highlight a holding and click the Transactions Inquiry button.
T
Enter "1" in the Link field adjacent a holding and press Transmit The following figure is an example of the Holdings Inquiry (SAPNI) screen:
Figure 6–15. Holdings Inquiry screen
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Holding Transactions Inquiry (SAPSI) This screen allows you to view the transactions that constitute a given holding. The holding to inquire on can either be identified by a combination of portfolio, instrument and depository, or you can link to this screen from the Holdings Inquiry (SAPNI) screen. From this screen you can link to the Transaction Stock Movements Inquiry (SATRI) screen, where you can view the stock accounting movements related to a transaction. To do this:
á
Highlight a transaction, and click the Stock Movements Inquiry button.
T
Enter "1" in the Link field adjacent to the note you want to maintain and press Transmit You can also link to the Holding Transaction Maintenance (SAHLM) screen. To do this:
á
Highlight a transaction, and click the Holdings Maintenance button.
T
Enter "2" in the Link field adjacent to the note you want to maintain and press Transmit
The following figure is an example of the Holding Transactions Inquiry (SAPSI) screen:
Figure 6–16. Holding Transactions Inquiry screen
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Transaction Stock Movements Inquiry (SATRI) This screen allows you to view the stock accounting movements for any leg of a chosen contract. To inquire on a contract leg, you must either enter the Contract Number and Transaction Leg, or link to this screen from the Holding Transaction inquiry (SAPSI) screen, described earlier in this section. From this screen, you can link to the following screens: •
Corporate Actions Entitlements Inquiry (SACXI)
•
Notes Inquiry (NOTEI)
•
SX Transaction Diary Maintenance (SXTDM)
•
SX Contract Portfolio Inquiry (SXCPI)
•
SX Contract Portfolio Browse (SXCPB)
•
SX Contract Common Inquiry (SXCCI)
The following figure is an example of the Transaction Stock Movements Inquiry (SATRI) screen:
Figure 6–17. Transaction Stock Movements Inquiry screen
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Section 7 Setting Up Transaction Models Introduction to Setting Up Transaction Models This section provides a description of the following screens: Custody Models •
Custody Model Maintenance (SXCMM)
•
Portfolio and Depository Sub-Accounts Maintenance (CSACM)
Transaction Models •
Stock Exchange Products Maintenance (SXAPM)
•
SX Transaction Model Header Maintenance (SXEHM)
•
SX Transaction Model Detail Maintenance (SXEDM)
•
Stock Accounting Models Maintenance (SAMDM)
•
SX Input Message Models (SXIMM)
•
SX Output Message Models (SXOMM)
Message Definitions •
SX Message Format (SXMFM)
•
Stock Exchange Database Message Fields (SXDBM)
•
SX Message Qualifiers (SXMQM)
Inquiry Screens •
Stock Exchange Products Browse (SXAPI)
•
SX Input Message Model Inquiry (SXIMI)
A full description of the fields on the screens, and valid entries, is given in Section 8, "Definition of Field Names". Refer to the Starters Guide for a description of how to access and use screens.
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Custody Model Custody Model Maintenance (SXCMM) This screen allows you to define the custody arrangements to be used by each party to a contract. For different combinations of stock exchange, country of registration, instrument type and instrument, the custody model can have different custody arrangements. The custody model used for the leg of a contract is dependent on the portfolio associated with the leg. A portfolio always uses the same custody model, defined on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide. Once a custody model has been assigned to a leg of a contract, any combination of the four filters can be used to assign custody arrangements. The four filters are: •
Stock Exchange - this is the stock exchange where the security being traded is listed. Stock exchanges are defined on the Stock Exchanges (SEM) screen
•
Country of Registration – this is the country of registration of the company who issued the security being traded
•
Instrument Type – this is the instrument type of the security being traded. Instrument type is defined on the Security Master File - Types (STKTM) screen, described in Section 3 of this guide.
•
Instrument – this is the identifier of the security being traded. This can be either the stock identifier, or one of the soft keys set up for the security. Soft keys are defined on the Security Master File – Soft Keys (STKXM) screen, described in Section 3 of this guide.
The custody arrangements identified by the above filters include the following information: •
Custody Type – this is the type of custody, which must be set up on General Purpose Narrative (GNARR), table type CU
•
Depository – this is the depository in which the security is held. Depositories must be set up on the CSD/Depository Maintenance (CSDM) screen
•
Account and Sub Account – these identify the account to be used at the depository
The blueprint parameter BP-SX-CSTDY-MDL is used to define the custody model used by your institution as an intermediary during settlement processing. The intermediary custodian receives the stock from the seller, before sending to the buyer.
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The following figure is an example of the Custody Model Maintenance (SXCMM) screen:
Figure 7–1. Custody Model Maintenance screen
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Portfolio and Depository Sub-Accounts Maintenance (CSACM) This screen allows you to define the sub-account to be used to hold stock for a given portfolio/depository/account combination. Sub-accounts are used by some depositories as a second level of stock account, one method of implementing the form of custody known as "designated". The sub-account will be called by default on the contract entry screens, if a sub-account exists for the portfolio/depository/account combination. The following figure is an example of the Portfolio and Depository Sub-Accounts Maintenance (CSACM) screen:
Figure 7–2. Portfolio and Depository Sub-Accounts Maintenance screen
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Assigning a Transaction Model Stock Exchange Products Maintenance (SXAPM) This screen allows you to define the Product Type given to each leg of a contract. The Product Type is used in processing the transaction to allocate appropriate Transaction Models. To define a product type for a given contract leg, the Bank's Contract, Trade Type, Portfolio Category, Settlement Depository and Custody Type are used. On this screen you must set up the Product Type to be used for each combination of the above that is to be used by your institution. The information necessary to link a contract leg to a Product Type comes from the following locations: •
Product Types are set up on the Product Types Maintenance (PRTPM) screen, described in the Core Functions and Inquiries Guide.
•
Bank's Contract and Trade Type for a contract leg are taken directly from the contract data, entered on the SX Contract Common Add (SXCCA) screen, described in Section 6 of this guide.
•
Portfolio Category is taken from the portfolio from which the contract leg is raised. See Defining Portfolio Types in the Portfolio Management Guide for more information.
•
Settlement Depository is taken from the Common Details of the contract, it refers to the user's institution's transit depository, used during settlement processing.
•
Custody Type is taken from the Custody Model already identified and applied to a specific contract leg. See the Custody Model Maintenance (SXCMM) screen, described in this section.
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Setting Up Transaction Models
The following figure is an example of the Stock Exchange Products Maintenance (SXAPM) screen:
Figure 7–3. Stock Exchange Products Maintenance screen
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SX Transaction Model Header Maintenance (SXEHM) This screen allows you to define the transaction models for each product type in your system. A transaction model consists of a set of transaction diary types that occur during the lifetime of a contract leg. On this screen you must define the diary types used for each transaction model, and when these diary types are applied. You can then link to the SX Transaction Model Details Maintenance (SXEDM) screen to define the individual actions that are undertaken when a diary type is triggered, for example sending a message, receiving a message, movement of stock, or movements of cash. Every leg of a contract is assigned a product type, depending on values set up on the Stock Exchange Products Maintenance (SXAPM) screen, described in this section. Once a contract leg has been assigned a product type, a diary of events is produced automatically for the leg, based on the diary types defined on this screen. To add diary types for a new product type:
á
Enter the required Product Type and the Diary Types. Switch On the Select field adjacent to all the diary types you have entered and click the Add button
T
Enter the required Product Type and Diary Types. Enter "Y" in the Select field adjacent to all diary types you have entered and press Transmit
To alter the diary type for a product type you can either add new diary types, change existing diary types, or delete diary types. To do these:
á
To add or change a diary type, enter the new information and switch On the Select field adjacent to any line of data changed. Click the Change button. To delete a diary type, switch On the Select field adjacent to the diary type you want deleting. Click the Delete button
T
To add or change a diary type, enter the new information and enter "Y" in the Select field adjacent to any line of data changed. Enter "CHG" in the Maint field and press Transmit. To delete a diary type, enter "Y" in the Select field adjacent to the diary type you want deleting, enter "DEL" in the Maint field and press Transmit
From this screen you can link to the SX Transaction Detail Maintenance (SXEDM) screen to define the actions taken for a diary event. To do this:
á
Highlight the Diary Type you want to define actions for and click the Details button
T
Enter "Y" in the Link field adjacent to the Diary Type you want to define actions for and press Transmit
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The following figure is an example of the SX Transaction Model Header Maintenance (SXEHM) screen:
Figure 7–4. SX Transaction Model Header Maintenance screen
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SX Transaction Model Detail Maintenance (SXEDM) This screen allows you to define the actions undertaken for this product type when a diary type event is due. The diary types for each product type are defined on the SX Transaction Model Header Maintenance (SXEHM) screen, described above. The actions you can define on this screen can be one of the following: •
Accounting Model – this model defines the transfer of cash between accounts
•
Input Message Model –this model involves creating a message to send from Banking Back-Office
•
SX Output Message Models– this model defines how to react when a message arrives from S.W.I.F.T.
•
Stock Accounting Model – this model involves the transfer of stock into and out of custody locations
•
Trigger – this triggers an event on the opposite side of the contract. For example, a market portfolio transaction event can trigger a client side event
•
Report Contract Note (RCM) – a contract note is to be created and sent to the counterparty
To add actions for a new diary type:
á
Enter the Product Type, Diary Event Type and any required actions. Switch On the Select field adjacent to all the actions you have entered and click the Add button
T
Enter the Product Type, Diary Event Type and any required actions. Enter "Y" in the Select field adjacent to all actions you have entered and press Transmit
To alter the actions for a diary type you can either add new actions, change existing actions, or delete actions. To do these:
á
To add or change an action, enter the new information and switch On the Select field adjacent to any line of data changed. Click the Change button. To delete an action, switch On the Select field adjacent to the action you want deleting. Click the Delete button
T
To add or change an action, enter the new information and enter "Y" in the Select field adjacent to any line of data changed. Enter "CHG" in the Maint field and press Transmit. To delete an action, enter "Y" in the Select field adjacent to the action you want deleting, enter "DEL" in the Maint field and press Transmit
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Setting Up Transaction Models
From this screen you can link to the following screens; SX Transaction Model Header Maintenance (SXEHM), SX Input Message Models (SXIMM) and SX Input Message Model Inquiry (SXIMI). To do this:
á
Click either the Model Headers, Message Model or Model Inquiry button to link to either the SX Transaction Model Header Maintenance (SXEHM), SX Input Message Models (SXIMM) and SX Input Message Model Inquiry (SXIMI) screen respectively.
T
Enter "1", "2" or "3" in the Link field to go to the SX Transaction Model Header Maintenance (SXEHM), SX Input Message Models (SXIMM) and SX Input Message Model Inquiry (SXIMI) screen respectively. The following figure is an example of the SX Transaction Model Detail Maintenance (SXEDM) screen:
Figure 7–5. SX Transaction Model Detail Maintenance screen
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Stock Accounting Models Maintenance (SAMDM) This screen allows you to define the movement of stock through the sub-balances defined for the contract leg. A movement of stock is necessary when a stock accounting model is actioned during a diary event. The diary type of the event, and the accounting centre, product type, and contract type of the contract leg are used to reference the movements necessary to complete the action. The sub-balance fields define where the stock is moving. Sub-balance 1 has a special function - it records the beneficial position i.e. the change in legal ownership of the stock being bought or sold. Sub-balances 2 to 7 represent the settlement stages for the depository receiving the stock. These positions can be individually named for each depository on the CSD/Depository Maintenance (CSDM) screen, described in Section 2 of this guide. Settlement of a contract leg can be tracked on the Transaction Stock Movement Inquiry (SATRI) screen, described in Section 6 of this guide. The following figure is an example of the Stock Accounting Models Maintenance (SAMDM) screen:
Figure 7–6. Stock Accounting Models Maintenance screen
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Setting Up Transaction Models
SX Input Message Models (SXIMM) This screen allows you to define which S.W.I.F.T. message types are created for different diary events during the life of a contract leg. For each product type you can specify that different S.W.I.F.T. messages are created for each diary type. The SX Transaction Model Detail Maintenance (SXEDM) screen defines whether a S.W.I.F.T. message needs to be sent for each combination of Product Type and Diary Type. From this screen you can link to the SX Message Format (SXMFM) screen. To do this:
á
Click the Message Format button
T
Enter "1" in the Link field and press Transmit
The following figure is an example of the SX Input Message Models (SXIMM) screen:
Figure 7–7. SX Input Message Models screen
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SX Output Message Models (SXOMM) This screen allows you to define what actions are taken when a message is received from an outside source, for example from S.W.I.F.T. For each message type from a particular source you can define whether the message should be processed, or an alert raised to allow manual processing. To automatically process messages, the message type must have been set up on the SX Message Qualifiers (SXMQM) screen, described later in this section. The alerts raised when a message is received can be viewed on the Alert Queue (ALRTQ) screen, described in Section 5 of this guide. When a message is received that actions this outbound message model, the system can carry outprocessing based on the message. This can either be changing the contract leg status to "Matched", settling all or part of the expected amount of the contract leg, or cancelling the contract leg. This is controlled by the Diary Process field. You can distinguish between different messages with the same message type and source by using the Status and Message Qualifier fields. The Status field contains the message status to be processed, while the Message Qualifier field defines where the status of the message can be found in the message. The qualifier refers to the SX Message Qualifiers (SXMQM) screen, where the message layout must have been defined. The following figure is an example of the SX Output Message Models (SXOMM) screen:
Figure 7–8. SX Output Message Models screen
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Setting Up Transaction Models
Message Definition Screens SX Message Format (SXMFM) This screen allows you to define the layout of messages. Messages are in S.W.I.F.T. format, and can either be sent or received. You must define each line of a S.W.I.F.T. message, including the data to be put on the line, and the tag code. Information can be taken from the following places: •
Directly from the system database. A S.W.I.F.T. message contains information unique to each contract. By accessing the system database, each S.W.I.F.T. message can be individualised
•
Included as qualifiers for new S.W.I.F.T. message types. New S.W.I.F.T. message types require the use of qualifiers. Use the SX Message Qualifiers (SXMQM) screen to define qualifiers
To include information directly from the system database:
á
Enter "D" in the Type field. Enter the description of the database field to be referenced in the Value field. Descriptions of database fields are set up on the SX Database Message Fields (SXDBM) screen.
T
Enter "D" in the type field. Enter the database mnemonic and data key in the Value field. Database mnemonics and data keys are listed in the Data Dictionary
From this screen you can link to the SX Message Qualifiers (SXMQM) screen. To do this:
á
Highlight a line of the message and click the Qualifiers button
T
Enter "1" in the Link field adjacent to the line of the message you want to view the qualifiers for and press Transmit
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The following figure is an example of the SX Message Format (SXMFM) screen:
Figure 7–9. SX Message Format screen
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SX Database Message Fields (SXDBM) This screen allows you to define the database fields used in the construction of S.W.I.F.T messages on the SX Message Format (SXMFM) screen, described below. The field of Database Field defines the part of the database that is to be referenced. This must include the database mnemonic, and the data key for the information you want to include. See the Data Dictionary for a full list of database mnemonics and data keys. The Description field is used on the SX Message Format (SXMFM) to call the appropriate Database Field. Note:
The database fields that can be included in a message are supplied in the foundation database. New database fields can be added, but are not supported. The description of the database field can be changed.
The following figure is an example of the SX Database Message Fields (SXDBM) screen:
Figure 7–10. SX Database Message Fields screen
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SX Message Qualifiers (SXMQM) This screen allows you to define the qualifiers and values that can be added to S.W.I.F.T. messages defined on the SX Message Format (SXMFM) screen. Qualifiers are created for different combinations of •
Message Source
•
Message Direction
•
Message Type
•
Tag Code
For each combination of the above you can specify different qualifiers to be applied to each S.W.I.F.T. message. Qualifiers can be of different length, but must be at least one line long. Each line of the qualifier can either be a fixed value, or a value taken from the database. To enter information from the database:
á
Enter "D" in the Type field. Enter the description of the database field to be referenced in the Value field. Descriptions of database fields are set up on the SX Database Message Fields (SXDBM) screen.
T
Enter "D" in the Type field. Enter the database mnemonic and data key in the Value field. Database mnemonics and data keys are listed in the Data Dictionary
3937 1000-930
7–17
Setting Up Transaction Models
The following figure is an example of the SX Message Qualifiers (SXMQM) screen:
Figure 7–11. SX Message Qualifiers screen
7–18
3937 1000-930
Setting Up Transaction Models
Inquiry Screens Stock Exchange Products Browse (SXAPI) This screen allows you to inquire on the product types related to stock exchange securities contracts. The product type is dependant on the Bank's Contract, Trade Type, Portfolio Category, Depository and Custody Type, and is defined on the SX Products Maintenance (SXAPM) screen. The fields at the top of the screen can be used to limit the search. By entering any combination of these fields, you can limit the search to Product Types with these combinations. From this screen you can link to the SX Products Maintenance (SXAPM) screen to maintain a product type. To do this:
á
Highlight a product type you want to maintain and click on the Details button.
T
Enter "1" in the Link field adjacent to the product type you want to maintain and press Transmit. The following figure is an example of the Stock Exchange Products Browse (SXAPI) screen:
Figure 7–12. Stock Exchange Products Browse screen
3937 1000-930
7–19
Setting Up Transaction Models
SX Input Message Model Inquiry (SXIMI) This screen allows you to inquire on the messages produced for a product type and diary type combination. The screen SX Input Message Models (SXIMM) is used to maintain the message types produced. To link to this screen:
á
Highlight a Message Type and click the Details button
T
Enter "1" in the Link field adjacent to the Message Type you want to maintain and press Transmit The following figure is an example of the SX Input Message Model Inquiry (SXIMI) screen:
Figure 7–13. SX Input Message Model Inquiry screen
7–20
3937 1000-930
Section 8 Definition of Field Names Introduction This section provides a definition of all the field names on Stock Exchange and Securirites Administration screens. The fields are listed alphabetically according to their full name and details of valid entries are given. If the field is pre-filled with a value on the screen, or defaults to a value if left blank, these values are also given. Many of the codes and mnemonics given in this section may be changed when the system is installed at your institution. Table 8-1. Definition of Field Names
Field st
Definition th
1 to 4 Pay Dates
These are the past and future payment dates related to the security. For a new security, all the dates must be in the future, and not all dates need be entered. For an existing security, typically one or more of the dates will be in the past. Information can be automatically entered into this field using a third party information feed.
Acceptance Instruction
See "Instruction".
Account
On the Portfolio and Depository Sub-Accounts Maintenance (CSACM) and Custody Model Maintenance (SXCMM) screen, this is the stock account that you want to define a sub-account for. You must also enter a Portfolio and a Depository before defining a sub account. On the Cash Memorandum Account Maintenance (CSCMM) screen, this is the depository account for which the memo account is to be used. In most cases this will identify the participant.
3937 1000-930
8–1
Definition of Field Names
Field
Definition
Accounting Centre
An accounting centre is represented by an eight character code that consists of a three elements: AA BBBB CC Where: A B C
= = =
Sector Code Sub-sector Code Profit Centre Code
Sector Code, Sub-Sector Code and Profit Centre Code are set up on the General Purpose Narratives (GNARR) table, table types SE, SS and PF respectively. The Accounting Centre is defined on the Accounting Centres Maintenance (ACNTM) screen, described in the Guide to Setting Up. On the stock exchange contract screens, this is defaulted to the accounting centre associated with the current dealer. The dealer is defined for the current user on the Users Maintenance (USERS) screen, described in the Guide to Setting Up. On the Cash Memorandum Account Maintenance (CSCMM) screen, this is the accounting centre of the general ledger account to be used as a memorandum account. Accrued Interest
This determines whether accrued interest is included or excluded from the consideration when identifying the charge level.
á
Include Exclude
T
I A
Include Accrued Interest Exclude Accrued Interest
On the SX Contract Portfolio Add (SXCPA) screen, this is the calculated accrued interest for this contract leg. Accrued Interest Days
When the Cum/Ex indicator is set to Cum, this is the number of days of interest accrual since the last coupon date. When the Cum/Ex indicator is set to Ex, this is the number of days remaining to the next coupon date. This value is calculated automatically from information in the securities master file, and can be overridden if necessary.
Accrued Interest Rate
The interest rate to be used with the accrued interest days when calculating the accrued interest amount. Information can be automatically entered into this field using a third party information feed.
8–2
3937 1000-930
Definition of Field Names
Field
Definition
Action
On the Security Master File – Soft Keys (STKXM) screen, when adding, changing or deleting an Instrument, you must:
á
Switch "On" this field adjacent to any instrument being changed.
T
Enter "Y" in this field adjacent to any instrument being changed.
On the Transaction Diary related screens, this controls how a diary type is executed. This can either be:
Actioned
•
Manual Action Required – action the event on the SX Transaction Diary Maintenance (SXTDM) screen
•
Action Now - action on this date, provided the Conditional Indicator allows this. If manually entered, this means action on the expected date
•
Waiting on Message – this action is waiting for a message outbound from S.W.I.F.T. to arrive
•
Waiting on Trigger – this action is waiting for a trigger event from the opposite side of the contract. For example a market portfolio transaction event can trigger a client side event
á
Manual Action Required Action Now Waiting on Message Waiting on Trigger
T
Y W T M
Action Now Waiting on Message Waiting on Trigger Manual Action Required
This field limits the inquiry to either messages that have already been actioned, or those waiting to be actioned.
á
Yes No
Limit inquiry to actioned messages Limit inquiry to unactioned messages
T
Y N
Limit inquiry to actioned messages Limit inquiry to unactioned messages
Actual 1st Security Quantity Actual 2nd Security Quantity
The quantity of stock settled so far for this contract leg.
Actual Date
The date the action for this contract leg took place on, or will take place on.
Actual Quantity
The quantity of stock settled on this transaction leg.
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8–3
Definition of Field Names
Field
Definition
Actual Value
The value of the stock settled so far for this contract leg.
Agent
The name of the agent who is handling this custodian, depository or client. Agents are set up on the Agent Details (AGNTM) screen, described in the Settlements Guide. You can also enter one of the following codes: A U S @
Automatic Client Vostro Account No agent is involved on this side of the deal Agent is the same as the nostro This must be followed by the exact S.W.I.F.T. address of the agent.
Agents can be defaulted onto contract entry screens according to rules set up on the Agent Settlement Defaults (AGDFM) screen. Al Calculation Basis
This is the Accrued Interest Calculation Basis to be used for this security when calculating accrued interest. 0
Calculation Basis Unknown
4
Actual/Actual
5
30/360 Basis
6
Actual/365 (366 Leap Year)
7
Actual/365
8
Actual/360
B
30/365
Information can be automatically entered into this field using a third party information feed. Al Pricing Basis
This is the Accrued Interest Pricing Basis, used for this security when calculating accrued interest. Valid values for this field are: Blank
No Accrued Interest
0
Clean Price (price does not include Accrued Interest)
1
Dirty Price (price includes Accrued Interest)
Information can be automatically entered into this field using a third party information feed. Alert Error Number
8–4
This alert will contain an error message defined on the Error Messages Maintenance (EMSGM) screen. The error message is referenced by a number. See the Guide to Setting Up for more information.
3937 1000-930
Definition of Field Names
Field
Definition
Alert Flag
This defines whether an alert is to be raised when a message arrives of this type, and from this source.
Alert Kind
á
On Off
Create an alert Do not create an alert
T
Y N
Create an alert Do not create an alert
The code used to define an alert type. Alerts are applied to messages received by the system if they need manual processing. On SX Output Message Models (SXOMM) screen, this is the alert kind to be generated during an output message model event of this type. Alerts are defined on the Alert Kinds (ALKRM) screen, described in Section 5 of this guide.
Alert User
When an alert is raised, then the users listed in these fields will be informed that there is an alert waiting for them. The alert appears on the status bar at the bottom of the screen, and can be viewed on the Alert Queue (ALRTQ) screen, described in Section 5 of this guide.
Allocation
This is the holding quantity of the instrument allocated as a result of this corporate action event. It is calculated automatically when the entitlement is created, but can be altered if necessary.
Amount
This is the amount of tax liable in this entitlement, calculated automatically using the rate in the Rate field.
Amount of Quotation
This is a currency or decimal value that indicates the unit or currency value of quotation. Information can be automatically entered into this field using a third party information feed.
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8–5
Definition of Field Names
Field
Definition
Analysis Start Date
To control the processing of a corporate action notification automatically, this is the number of days before the Ex date when a high level holder analysis is produced. This is a code representing the number of days before or after a specified date that this step in processing is carried out. The code must be entered as: d+nn
For number of days after a specified date
d-nn
For number of days before a specified date
In this code, nn can be any two digit number, and d can be one of the following codes: E
Use the Entitlement Date
D
Use the Deadline Date
P
Use the Payment Date
R
Use the Record Date
See Corporate Action Processing in Section 1 of this guide for more information. As At Date
Enter a date in this field to view the positions of holdings on that date. Leaving this field blank will return the current holdings.
Authorisation
This shows the current level of authorisation of the notification. The level of authorisation must be altered before certain processes can be completed. The following authorisation levels are allowed:
•
Unauthorised - no processing can be performed on the notification
•
Authorised for High Level Holder Analysis - a high level holder analysis will be performed on the notification
•
Authorised for Low Level Entitlement Analysis - a low level entitlement analysis will be performed on the notification
•
Authorised for Transaction Processing - the notification will be processed
See Corporate Action Event Processing in Section 1 of this guide for more information. Band Limit
This defines the bands applicable to a variable charge. Either a percentage or a value is then applied to the consideration amount based on these bands. The Calculation Method field defines whether the variable charge is applied at the level of the highest band the consideration amount reaches, or whether the variable charge is applied in slices across all the bands.
8–6
3937 1000-930
Definition of Field Names
Field
Definition
Bank's Contract
This defines whether the stock is to be bought by your institution or sold by your institution.
Block Movement
á
Bought Sold
Purchased for your institution Sold by your institution
T
B S
Purchased for your institution Sold by your institution
Use this field to move the sub balance amount directly from the directly from position 1 to the last position, without resting in any intervening sub balances.
á
On Off
Move sub balances as a block Do not move sub balances as a block
T
Y N
Move sub balances as a block Do not move sub balances as a block
Book Cost
This is the book cost associated with the holding. It is apportioned from the underlying holding average book cost using the Specified Cost Apportionment Basis.
C/A Element Type
If the manual custody holding transaction is a corporate action event, then this is one of the elements that comprise the event. See the "Elements" field for a list of valid element types. Elements are defined in the General Purpose Narrative (GNARR) table, type CE, described in the Guide to Setting Up.
Calculation Method
This defines how variable charges are applied to the consideration amount. This can be either: Slice - The consideration amount is split according to the band limits from top to bottom and the total charge will be the sum of the charges calculated against each band All Up - The band which matches the whole of the consideration amount is used to calculate all the charge.
á
On Off
Slice All-up
T
Y N
Slice All-up
This field is defaulted to Slice. Cancellation Reason
A free format field, allowing you to record a reason for the cancellation of the contract.
Cash Currency
This is the currency of the quantity in the Cash/Price Factor field.
3937 1000-930
8–7
Definition of Field Names
Field
Definition
Cash Price/Factor
This is the cash to be distributed per quantity of underlying holding given in the Underlying Quantity field. Whether this cash is charged to the portfolio, or received by the portfolio is controlled by the Cash Type field.
Cash Type
This shows the types of cash payment associated with a corporate action event.
• •
Call (C) - Cash to be subscribed from clients Distribution (D) - Cash is distributed to clients
The cash type is defined by the Subscription and Distribution Elements on the Corporate Action Type Maintenance (SACDM) screen. Cash Value
If there is a cash movement associated with this entitlement, the gross amount of this is displayed in this field. It is calculated automatically on entitlement analysis, but can be manually changed. Whether the cash is received by the portfolio, or payable by the portfolio is controlled by the Cash Type field on the Corporate Action Notification Maintenance (SACNM) screen.
Category
See "Portfolio Category".
Charge Code
A code used to assign a supplementary charge to an individual leg of a contract. Supplementary charges are set up on the Supplementary Charges Maintenance (SUPCM) screen, described in Section 2 of this guide. Supplementary charges are applied to a contract leg on the SX Contract Charge Add (SXCTA) screen, described in Section 6 of this guide.
City
This is the client city of the client created to represent this custodian or depository. See Adding a Client in the Client and Accounts Administration Guide for more information.
Client Country of Residence
The country where the client is registered. This is defined on the Client Details (CIWSL) screen, described in the Clients and Accounts Administration Guide. On the Corporate Action Tax Code Maintenance (SATXM) screen, this is the country of residence for a client whose portfolio has an entitlement to a corporate action event. With the Tax Code, this residence determines the tax rate to be applied. Enter "**" in this field to apply the code to all countries of residence.
8–8
Client Number
This is the client number of the client created to represent this custodian or depository. See Adding a Client in the Client and Accounts Administration Guide for more information.
Client Shortname
This is the client shortname of the client created to represent this custodian or depository. See Adding a Client in the Client and Accounts Administration Guide for more information.
3937 1000-930
Definition of Field Names
Field
Definition
Commission
This is the total commission charge calculated for this leg of the contract. Commission charges are defined on the Commission Table Maintenance (COMMM) screen, described in Section 2 of this guide.
Commission Category
A commission category is linked to every portfolio to define which commission tables are to be applied for a given instrument type and country of registration combination. Commission tables are set up on the Commission Tables Maintenance (COMMM) screen, described in section 2 of this guide. A commission category is linked to a portfolio on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide.
Commission or Percentage
If this contract leg is to have commission charged to it, then this field will show either the value of that charge, or a percentage fee.
Commission Table
This is a code used to identify commission tables. Commission Tables are defined on the Commission Table Maintenance (COMMM) screen, described in Section 2 of this guide. On the Commission Tables by Category (CTCM) screen, this Commission Table will be applied to the adjacent Instrument Type, for this commission category and country of registration combination. On the Security Master File – Overrides (STKMM) screen, this shows the default commission table for this security.
Company Name
This is the company name of the company who issued the security.
Conditional Indicator
This controls the order in which the diary types are processed. Processing order is controlled by the Sequence field. To override the order established by the sequence, you should set this field to: Unconditional – process this diary event as soon as the diary event type is actioned. On Top – process this diary event in sequence order.
Contract
3937 1000-930
á
Unconditional On-Top
T
N T
Unconditional On-Top
See "Bank's Contract".
8–9
Definition of Field Names
Field
Definition
Contract Condition Code
This defines any special conditions relating to the processing of this contract. Up to two conditions can be applied to a contract. Conditions are set up on the Contract Condition Maintenance (COMMM) screen, described in Section 2 of this guide.
Contract Leg
The order in which the legs of a contract were entered. On the SX Contract Portfolio Browse (SXCPB) screen, entering a value in this field will restrict the inquiry to legs of a contract entered after this value. On the Holding Transaction Maintenance (SAHLM) screen, this is the contract leg responsible for a holding transaction on the Holding Transaction Inquiry (SAPSI) screen. It is only used when performing an inquiry on this screen.
Contract Number
This is the number assigned to a contract. It is common to all legs of the contract. On the Notes Maintenance (NOTEM) screen, this is the number of the contract that you want to create a note for. On the SX Contract Cancellation (SXCNX) screen, this is the number of the contract to be cancelled. Contracts can be inquired on the SX Contract Common Browse (SXCCB) screen, described in Section 6 of this guide. On the Holding Transaction Maintenance (SAHLM) screen, this is the contract number responsible for a holding transaction on the Holding Transaction Inquiry (SAPSI) screen. It is only used when performing an inquiry on this screen.
8–10
Contract Type
This is the contract type of the contract you want to settle.
Corporate Action Type
Corporate action types contain the basic definition of a corporate action event and are defined on the Corporate Action Type Maintenance (SACNM) screen, described in Section 4 of this guide. Each notification must be assigned to a corporate action type.
Cost
See "Cost - Listing".
Cost - Listing
This is the book cost of the contract, quoted in the list currency of the security.
Cost - Portfolio
This is the book cost of the contract, quoted in the currency of the portfolio affected by the contract.
3937 1000-930
Definition of Field Names
Field
Definition
Cost Apportionment Basis
This indicates the method of book cost apportionment to be used when processing a corporate action. Three methods of calculation are available:
•
Closing Mid Price (M) - the figure is calculated using a standard Closing Mid Price method
•
Closing Quarter Up Price (Q) - the cost is calculated using a standard Closing Quarter Up price method
•
Entered Value (V) - the cost is calculated from the manually entered cost (which is entered on the Corporate Action Notification Maintenance (SACNM) screen)
Cost Apportionment Price
This is the cost apportionment price to be used for the security. The cost can be apportioned for each element of a corporate action. The Cost Apportionment Basis on the Corporate Action Type Maintenance (SACDM) screen controls how this amount is calculated.
Country
This is the country where the stock exchange is based. The country must be defined on the Countries (CNTRY) screen, described in the Guide to Setting Up.
Country Check Code
This is used to define the days when the exchange or depository is on holiday, which is used to calculate scheduled event dates for contracts Country check codes are set up on the Country Check Codes (CNCHK) screen, described in the Guide to Setting Up.
Country of Management
This is the country of management of the portfolio.
Country of Quotation
This is the country where the security is quoted. This is used with the Exchange of Quotation to determine the Stock Exchange Code. Information can be automatically entered into this field using a third party information feed.
Country of Registration
The country in which the security is registered.
Country of Taxation
This is the country that tax is due for this tax code.
3937 1000-930
On the charges maintenance screens, this defines the country of registration for which this commission category is valid. Entering "**" in this field indicates that the commission category is valid for all countries of registration.
8–11
Definition of Field Names
Field
Definition
Create Event
When this output message model is actioned, a memorandum transaction diary event will be created. The transaction diary event created can be viewed on the SX Transactions Diary Browse (SXTDB) screen, described in Section 6 of this guide. The following values are applicable:
á
On Off
Create a memo diary event Do not create a memo diary event
T
Y N
Create a memo diary event Do not create a memo diary event
If "Do not Create a Memo Diary Event" is selected, then a diary type cannot be specified. Instead, link the incoming message to an existing OMM diary event or create a memo event to record receipt of the message. Cross Reference Type
When defining cross references between parameters in this system and external systems, this is the type of cross reference being created. Values in this field are defined on the General Purpose Narrative (GNARR) table, type XR, described in the Guide to Setting Up.
Cum/Ex
This defines whether the trade is executed with (Cum) or without (Ex) rights to the next benefit.
á
Cum buyer will receive the next benefit Ex buyer will not receive the next benefit System system default value
T
C E blank
buyer will receive the next benefit buyer will not receive the next benefit system default value
The system default value is only used on the Holding Transaction Maintenance (SAHLM) screen. The default value is "Cum". Currency
The mnemonic of the currency, set up on the Currencies (CCYS) screen, described in the Guide to Setting Up. On the charges maintenance screens, this is the currency in which the charge is to be applied. On the Cash Memorandum Account Maintenance (CSCMM) screen, this is the currency of the general ledger account that is to be used as a memorandum account. On the Corporate Action Entitlement Maintenance (SACXM) screen, this is the client settlement currency.
Current Price
8–12
This is the latest price of the stock exchange security, as held in the stock price history in the securities master file.
3937 1000-930
Definition of Field Names
Field
Definition
Custodian Match
This defines whether settlement matching is to be against the custodian of the portfolio, or against the common custodian. The portfolio custodian is defined for each contract leg on the SX Contract Portfolio Add (SXCPA) screen, while the common custodian is defined on the SX Contract Common Add (SXCCA) screen.
á
On Off
T
Y N
Custody Location
settlement is against the portfolios custodian settlement is against the common custodian settlement is against the portfolios custodian settlement is against the common custodian
This is the depository, account, and sub account used for this contract leg. On the corporate actions screens, this is the depository, account, and sub account of the holding to which the entitlement relates. On the Holding Transaction Maintenance (SAHLM) screen, this is the depository, account and sub account for which you are entering a manual custody accounting transaction.
Custody Model
This allows you to define custody arrangements for different situations. This identifies the specific custody arrangements for different situations
Custody Type
This identifies whether the custody arrangements are (for example) in pooled, designated or certificated form. Other custody types can be defined in the General Purpose Narrative (GNARR), table type CU. Custody Type is used to ensure that different Transaction Models can be used for each different custody arrangements that may apply - as different messages and stock accounting models are likely to be involved in each case.
Data Overridden
Data Source
This is a display only field that shows if any changes have been made to the definition of the notification since it was created (except for a change to instruction details).
á
On Off
Changes have been made Changes have not been made
T
Y N
Changes have been made Changes have not been made
When defining cross references between parameters in this system and in an external system, this field identifies the external system. The values in this field are defined on the General Purpose Narrative (GNARR) table, type DS, described in the Guide to Setting Up.
3937 1000-930
8–13
Definition of Field Names
Field
Definition
Database Field
This defines a data item from the database to be entered into S.W.I.F.T. messages, individualising the message to the contract. An example of its use would be to include the specific settlement amount of a contract leg in a S.W.I.F.T. message regarding that leg. This database field can then be included in the layout of a message, where the value in that database will be called. Message layouts are defined on the SX Message Format (SXMFM) screen. See the Data Dictionary for more information on the database.
Date
On the SX Transaction Diary Browse (SXTDB) screen, this is the date on which the diary event is processed. On the Transaction Stock Movements Inquiry (SATRI) and Holding Transactions Inquiry (SAPSI) screens, this is the trade date of the transaction.
Date Range
This is used to limit the inquiry to those contracts or alerts whose input date is within the range defined by these two dates.
Date Type – Transaction
This determines whether any stock accounting postings made due to this diary type are to be dated with the trade date or the actual date.
Date Type – Value
Day Type
8–14
á
Trade Date Actual Date
T
T A
Trade Date Actual Date
This determines whether any cash accounting postings made due to this diary type are to be dated with the trade date, the actual date, or the settlement date.
á
Trade Date Actual Date Settlement
T
T A S
Trade Date Actual Date Settlement
This controls whether the number of days from the trade date to the settlement date is given in Business Days or Calendar Days.
á
Business Calendar
T
B C
Business Calendar
3937 1000-930
Definition of Field Names
Field
Definition
Deadline Date
For optional corporate action events, this is the final date for acceptance of the terms of the event or selection of an option under the event.
Dealer Identifier
This is the identifier of the dealer responsible for a contract. This is defaulted if the current user of the system is set up as a dealer. On the SX Principal Filter and Portfolio Selection screens, this is the dealer for which a principal filter or portfolio selection is to be created. See the Dealers and Officer (DEALR) screen, described in the Core Functions and Inquiries Guide, for more information
Default Authorisation
This defines the default authorisation level to be applied to all notifications of this type. The authorisation level can be changed on the Corporate Action Notification Maintenance (SACNM) screen, described in Section 4 of this guide.
Default Fee Code
This defines the default fee code to be used for notifications of this type. Fee codes are set up on the Corporate Action Fee Code Maintenance (SACFM) screen, and can be changed for individual notifications on the Corporate Action Notification Maintenance (SACNM) screen. See Section 4 of this guide for more information on these screens.
Default Instruction
This defines the default Instruction to be used for notifications of this type. Default instructions are defined on the Corporate Action Types Maintenance (SACDM) screen, described in Section 4 of this guide. See the description of the "Instruction" field for valid values to this field.
Depository
This is the depository that handles the stock for this portfolio. Depositories are defined on the Depository Maintenance (CSDM) screen, defined in Section 2 of this guide. On the Portfolio and Depository Sub-Accounts Maintenance (CSACM) screen, this is the depository for which you want to define a sub-account for. You must also enter a Portfolio and an Account at the depository before defining a sub account. On the Cash Memorandum Account Maintenance (CSCMM) screen, this is the depository for which the cash memorandum account is defined.
3937 1000-930
8–15
Definition of Field Names
Field
Definition
Depository Type
This is the type of the current depository. It can be either:
• • •
Description
Clearing House Internal Sub Custodian
á
Clearing House Internal Sub Custodian
T
C I S
Clearing House Internal Sub Custodian
On the Commission Table Maintenance (COMMM) screen, this is a description of the commission table. On the Security Master File – Types (STKTM) screen, this is a description of the security type. On the Security Master File – Soft Keys (STKXM) and Security Master File - Soft Keys Inquiry (STKXI) screens, this is a description of the soft key. On the SX Contract Conditions (CCDNM) screen, this is a description of the conditions that can be applied to a contract. On the Supplementary Charges Maintenance (SUPCM) screen, this is a description of the supplementary charge. On the Depository Maintenance (CSDM) screen, this is a description of the depository. On the SX Transaction Model Header Maintenance (SXEHM) screen, this is a description of a particular diary type. On the SX Transaction Model Detail Maintenance (SXEDM) screen, this is a description of a particular action. On the Alert Kinds (ALKRM) screen, this is a description of the alert code. On the Stock Exchange Database Message Field (SXDBM) screen, this is a description of the database field. This can be used to identify the database field to be included in the layout of the S.W.I.F.T. message, on the SX Message Format (SXMFM) screen. In a real message, this description will be replaced by the value in the database. On the SX Transaction Diary Maintenance (SXTDM) and the SX Transaction Diary Browse (SXTDB) screens, this is a free format field where you can enter a description of the transaction event you are reviewing. On the Corporate Action Type Maintenance (SACDM) and the Corporate Action Type Inquiry (SACDI) screens, this is a description of the corporate action type.
Destination
8–16
This is the destination of the S.W.I.F.T. message. This is a standard S.W.I.F.T. address
3937 1000-930
Definition of Field Names
Field
Definition
Diary Process
This controls the processing that takes place when this output message model is actioned against a specified diary type. The following processes can take place:
Diary Type
•
Match – this matches the quantity, value and currency on the incoming message with the expected value on the transaction event. If the matching is successful, the transaction event is updated to "Matched" status. If unsuccessful, then an alert is raised
•
Settle – this updates the actual values of the transaction event. If the quantity is greater than expected, an alert is raised. If the quantity is less than expected, the amount is updated and another transaction event created
• •
Cancel – the matched transaction event will be cancelled None - no processing is carried out
á
Match Settle Cancel None
T
M S C blank
Match Settle Cancel None
For stock exchange securities, the diary type controls a set of actions to be carried out at a certain time in the life of a contract. The SX Transaction Model Header Maintenance (SXEHM) screen controls how and when the diary type is executed, while the SX Transaction Model Details Maintenance (SXEDM) screen controls what actions are carried out for a diary type. Both these screens are described in Section 7 of this guide. Diary types are defined on the General Purpose Narrative (GNARR), table type DI. On the SX Output Message Models (SXOMM) screen, when an output message model of this type is actioned, then the transaction event with matched diary type for this contract will be actioned. On the Alert Queue (ALRTQ) screen, this is the transaction diary type where a problem was found.
Discount/Surcharge %
3937 1000-930
If you want to alter the commission charged on a security, then you can apply a percentage discount or surcharge here to alter the value calculated from the standard commission table.
8–17
Definition of Field Names
Field
Definition
Display Current Price
This field defines whether the current price for securities will be displayed with the search results. To display the current price:
á
Switch "On" this field
T
Enter "Y" in this field
Disposal Value
This field is mandatory for transactions with a cash distribution element. Recorded in this field is the cash realised during this transaction. This will differ from associated book cost.
Double Taxation Agreement
If a portfolio managed in one country holds the security from another country, then both countries will charge tax on the income from this holding. Some pairs of countries have a double taxation agreement, whereby the country where the portfolio is managed will give tax credit relief against the foreign tax levied on the income from this holding. This field defines whether a double taxation agreement exists between the countries from the Foreign Tax Code and Local Tax Code. The Relief Rate defines the exact amount of tax relief.
Effective Date
á
On Off
A double taxation agreement exists A double taxation agreement does not exists
T
Y N
A double taxation agreement exists A double taxation agreement does not exists
This is the date from which the note will be effective, and can be viewed on the Notes Inquiry (NOTEI) screen. Leaving this field blank will default the effective date to your current system date.
Elements
Each of the six elements is an action that can be taken during the processing of a corporate action. A corporate action can have any combination of these elements. For example a dividend payment may require only the Cash Distribution element to be turned on. See Corporate Action Types in Section 1 of this guide for more information on elements. To activate an element in a corporate action type:
Eligible Holding
8–18
á
Switch On the field adjacent to the element
T
Enter "Y" in the field adjacent to the element
This is the total quantity of the holding eligible for the corporate action. The eligible holding is calculated on a specific date, defined by the Eligible Holding Calculation Date on the Corporate Action Type Maintenance (SACDM) screen.
3937 1000-930
Definition of Field Names
Field
Definition
Eligible Holding Calculation Date
This defines the date on which the amount of holding of a security in a portfolio is used to define the eligible holding used in calculations.
• • • •
Deadline Date (D) - the deadline date of the notification Ex Date (E) - the Ex date of the notification Payment Date (P) - the payment date of the notification Record Date (R) - the record date of the notification
Calculation of the eligible holding will be at close of banking on the day prior to the calculation date, except when the record date is used. In this case it is close of day on the record date. EMU Override
Entitlement Calculation Date
This is used if the transaction being entered is a back dated record of two currencies that have undergone, or are undergoing EMU conversion. It allows the entry of a different exchange rate to the final EMU conversion rate that would apply.
á
On Allow entry of different exchange rates Off Do not allow entry of different exchange rates
T
Y N
Allow entry of different exchange rates Do not allow entry of different exchange rates
To control the processing of a corporate action notification automatically, this is the number of days before the Ex date when a low level holder analysis is produced. Before a low level analysis can be run, the high level analysis must have been run. This is ordered using the Analysis Start Date field. This is a code representing the number of days before or after a specified date that this step in processing is carried out. The code must be entered as: d+nn
For number of days after a specified date
d-nn
For number of days before a specified date
In this code, nn can be any two digit number, and d can be one of the following codes: E
Use the Entitlement Date
D
Use the Deadline Date
P
Use the Payment Date
R
Use the Record Date
See Corporate Action Processing in Section 1 of this guide for more information.
3937 1000-930
8–19
Definition of Field Names
Field
Definition
Error Message
This is the error message related to the alert. Error messages are defined on the Error Messages (EMSGM) screen, described in the Guide to Setting Up. Error messages are assigned to alerts on the Notes Maintenance (NOTEM) screen, described in Section 5 of this guide.
Event
This defines whether this corporate action type represents a capital event or an income event. Capital events affect the book value of the underlying holding, income events do not affect the book value of the underlying holding.
á
Capital Income
T
C I
Capital Income
Ex Date
The effective date (or the Ex date) of a corporate action event.
Ex Date - From
Entering a date in this field will limit the inquiry to notifications with an Ex Date after this date.
Ex Date - To
Entering a date in this field will limit the inquiry to notifications with an Ex Date before this date.
Exchange
See "Stock Exchange".
Exchange of Quotation
This is a code representing the pricing source of this security. Blank
Default
X
Pricing Source is Fund Manager
I
OTC Security
2
Pricing Source is Broker
3
Unquoted Security
4
International Securities Market Association
5
International Securities Market Association, for government domestic bonds
6
Reference Price
8
Printed Journal/Accredited Publication
9
Temporary Code
Information can be automatically entered into this field using a third party information feed.
8–20
Exchange Rate
This is the exchange rate to be used if the settlement currency is different from the list currency of the security.
Execution Number
This is the number assigned to an order entered using the Order Transport and Management System. See the Order Transport and Management System Guide for more information on entering orders.
3937 1000-930
Definition of Field Names
Field
Definition st
Expected 1 Security Quantity Expected 2nd Security Quantity
The total quantity of stock due to be traded in this contract leg.
Expected Date
This is the date on which an event for this contract leg is to occur.
Expected Quantity
The total quantity of stock due to be processed in this transaction event.
Expected Value
The total value of stock due to be processed in this transaction event.
Expiry Instruction
If an entitlement for an optional corporate action event is marked as Unaccepted when the notification is processed, then this instruction will be applied to the entitlement.
External Code
When creating a cross reference between parameters in this system and in an external system, this is the parameter in the external system.
External Reference
This is a manually entered field, which can be used to record a custodian's reference number of a transaction.
Fee Amount
This is the administration fee charged to the client for processing the entitlement. The fee can either be entered as a flat charge using this field, or by applying a fee type to the entitlement, using the Fee Code field.
Fee Code
Fees can be applied directly to notifications and entitlements using the fee code. The fee code can be applied to a notification on the Corporate Action Notification Maintenance (SACNM) screen, or to an entitlement on the Corporate Action Entitlement Maintenance (SACXM) screen. Fee Codes are defined on the Corporate Action Fee Code Maintenance (SACFM) screen. See Section 4 for a description of these screens.
Fee in List Currency
This is the fee charged to the 1st portfolio or 2nd portfolio for this custody transfer transaction. The fee is quoted in the list currency of the transaction. If this field is entered, the Fee in Settlement Currency field is not required.
Fee in Settlement Currency
This is the fee charged to the 1 portfolio or 2 portfolio for this custody transfer transaction. The fee is quoted in the settlement currency of the transaction. This fee is calculated from the Fee in List Currency, but can be overridden.
First Instrument
If a corporate action involves giving a security to owners of the affected underlying holding, then this is the instrument identifier of that security. The stock exchange listing this instrument may also be displayed.
First Portfolio
This is the portfolio that the stock is being transferred out of.
3937 1000-930
st
nd
8–21
Definition of Field Names
Field
Definition
Fixed Value
On the charges maintenance screens this is the nominal amount of a fixed charge.
Foreign Tax Code
This is the foreign tax code that applies to the tax code of the country of registration of the security that is being traded, if it is different from the country where the portfolio is managed. The tax code of the country of management of the portfolio must be defined in the Local Tax Code field. Tax codes are defined on the General Purpose Narrative (GNARR) table, type TC. See the Guide to Setting Up for more information.
Fractional Rounding Options
This controls the rounding methods used for calculating entitled quantities:
• • •
8–22
Rounding Up (R) - figures will be rounded up Truncate (T) - figures will be rounded down Exact (E) - only exact figures will be used
Free Format
A message that can be included with the contract to record extra information.
Free Text
These fields are free format fields allowing you to enter extra information on charges.
From Date
This field allows you to limit the inquiry to transactions affecting the holding from this date.
General Ledger Master Number
The general ledger master number associated with this contract leg. The GL Master identifies a set of up to 30 GL Account Numbers to be used when processing the contract leg. GL Masters are defined on General Ledger Master (GLMAM), described in the General Ledger Administration Guide.
General Ledger Account
This is the general ledger account to be used as a memorandum account.
Gross
This is the gross settlement amount in the settlement currency. It is required to calculate the exchange rate when the rate is close to 1.
Gross Value
The gross value of the securities traded in this leg of the portfolio.
Group
If the message being defined is of the S.W.I.F.T. 2000 format, then this must be entered. Appropriate codes are defined by S.W.I.F.T.
Group Sequence
This is the order in which the lines of the qualifier are displayed.
3937 1000-930
Definition of Field Names
Field
Definition
Holding Transaction Type
This is used to record the type of transaction on custody accounting postings. It is not used during processing, but can be used for portfolio management by external systems. Holding transaction types are defined on the General Purpose Narrative (GNARR) table, type HT, described in the Guide to Setting Up.
Holiday Method
Inhibit
This defines how the dates of scheduled events are altered if they fall on a holiday for the stock exchange or depository. This can be either:
á
None – do not change the date of the event Following – change the date to the next business day
T
N - do not change the date of the event F - change the date to the next business day
This allows the user to stop trading in this security listed at this exchange:
á
On Off
Stop trading in this security at this exchange Allow trading in this security at this exchange
T
Y N
Stop trading in this security at this exchange Allow trading in this security at this exchange
Instructed Quantity
This is the quantity of the eligible holding that is to be affected by the corporate action. For some optional corporate actions the client or portfolio manager can instruct take up of the corporate action event benefits against part of the eligible holding quantity. This could happen, for example, if the client has insufficient funds to subscribe to all eligible rights.
Instruction
For an optional corporate action notification, this is used to determine which option is chosen. The following options are available: Accept Cash Entitlement - accept the cash entitlement Accept First Security Entitlement - accept the first security entitlement Accept in Full - accept all the entitlements in the notification Accept Second Security Entitlement - accept the second security entitlement Lapse - do not accept any entitlement (the option is lost) Unaccepted (no instruction given) - use the default setting defined for this notification on the Corporate Action Type Maintenance (SACDM) screen. If no default instruction is defined, the option will Lapse.
3937 1000-930
8–23
Definition of Field Names
Field
Definition
Instruction Overridden
This is a display only field that shows if any changes have been made to the default instruction since it was created.
Instrument
á
On Off
Changes have been made Changes have not been made
T
Y N
Changes have been made Changes have not been made
An instrument is a user definable identifier for an individual stock exchange security. There can be up to 12 instrument identifiers defined for each stock exchange security. This is done on the Security Master File –Soft Keys (STKXM) screen, described in Section 3 of this guide. On the contract add screens, this is the instrument to be traded in the contract. On the SX Principal Filter and Portfolio Selection screens, this is the instrument that you want to create a principal filter or Portfolio Selection for. This field cannot be entered along with the Instrument Type. On the corporate actions screens, this is the instrument identifier of the security participating in a corporate action event. The stock exchange listing this instrument is also displayed.
Instrument Type
This is the instrument type given to one or more types of securities from the securities master file. Instrument Type is defined on the Security Master File - Types (STKTM) screen, described in Section 3 of this guide. Instrument Type is directly related to Security Type. On the Stamp and SRDT Charges Maintenance (STMPM) screen this is the Security Type for which the current charge is applicable. Enter "****" in this field to allow the charge to apply to all security types. On the Stock Exchanges Charges Maintenance (SLEVM) screen, this defines the instrument type that the current charge is to be applicable to. Enter "****" in this field to apply the charge to all instrument types. On the Commission Tables by Category (CTCM) screen, this Instrument Type will be charged commission defined by the adjacent Commission Table, for this commission category and country of registration combination. On the SX Principal Filter and Portfolio Selection screens, this is the instrument type that you want to create a principal filter or Portfolio Selection for. This field cannot be entered along with the Instrument.
Interest Rate
This is the currency and value of the interest rate applicable to this security. Information can be automatically entered into this field using a third party information feed.
8–24
3937 1000-930
Definition of Field Names
Field
Definition
Internal Code
When creating a cross reference between parameters in this system and in an external system, this is the parameter in this system.
Key Data
This is the key information that identifies where a problem was found while attempting to process the transaction event.
Kind
See "Alert Kind".
Last Portfolio
This is the portfolio related to the last leg of the contract. Portfolios are set up on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide.
Leg
See "Contract Leg".
Link to
See "Link to Securities Screens".
Link to Securities Screen
This allows you to link to a securities master file screen to allow you to inquire on further information about a security. See "Securities Master File Screens (STKA1) to (STKV1)", in Section 3 of this guide, for details of the securities master file screens.
List Currency
This is the listing currency of the instrument as defined in the securities master file.
List Gross
This is the gross amount of the contract leg, displayed in the list currency of the security as defined in the Securities Master File.
Local Tax Code
This is the tax code that applies in the country where the portfolio is managed. Tax codes are defined on the General Purpose Narrative (GNARR) table, type TC. See the Guide to Setting Up for more information.
M/O
This controls whether the adjacent line in a S.W.I.F.T. message is mandatory or optional. A line in a S.W.I.F.T. message consists of a Tag Code and a Value. M - Mandatory, the tag/value will always be generated or expected for outbound messages. O - Optional, the tag/value will be part of the created or received message only if a value is entered
Match
3937 1000-930
When this diary event is actioned, the matching status of the contract leg will be changed from Unmatched to Matched.
á
On Off
Change contract leg status to matched Do not change contract leg status to matched
T
Y N
Allow deletion of matched deals Do not change contract leg status to matched
8–25
Definition of Field Names
Field
Definition
Matched Deletions Allowed
If the depository allows the deletion of matched deals, then set this field to:
Matched Indicator
á
On Off
Allow deletion of matched deals Do not allow deletion of matched deals
T
Y N
Allow deletion of matched deals Do not allow deletion of matched deals
Use this to show whether this contract leg is matched or unmatched.
á
On Off
Matched Unmatched
T
Blank U
Matched Unmatched
Matched On
This is the date on which the contract matching occurred, indicating that this contract leg has been matched.
Maximum Value
On the charges maintenance screens this is the maximum value a variable charge can be.
Message Direction
This defines whether the message is input to S.W.I.F.T., or output from S.W.I.F.T.:
Message Qualifier
á
Input to Output from
T
I O
input to S.W.I.F.T. output from S.W.I.F.T. input to S.W.I.F.T. output from S.W.I.F.T.
The message model can be linked to a specific message status. This field defines the message qualifier against which a message is defined. Before using this field, you must have defined the message layout on the SX Message Format (SXMFM) screen. This field is used in conjunction with the Status field, in which you must enter the status of the message to be used for this message model.
8–26
Message Source
This is the source of messages received, for example S.W.I.F.T. Sources are defined in the General Purpose Narrative (GNARR), table type SY.
Message Tag
This is a code defined by S.W.I.F.T. that identifies the meaning of the adjacent value. The correct S.W.I.F.T. code must be used.
Message Type
This is the type of the message as defined by S.W.I.F.T. A list of the S.W.I.F.T. message type supported can be found in the Settlements Guide.
3937 1000-930
Definition of Field Names
Field
Definition
Minimum Amount of Transfer
This is a currency and decimal value that defines the minimum amount of transfer of the security. Information can be automatically entered into this field using a third party information feed.
Minimum Value
Model
On the charges maintenance screens this is the minimum value of a variable charge. This defines the type of action to be defined. It can be either:
• • •
Accounting Model – controls the movement of cash Stock Accounting Model – controls the movement of stock Output Message Model – controls messages received by the system
•
Input Message Model – controls messages sent from the system
•
Trigger – this triggers an event on the opposite side of the contract. For example, a market portfolio transaction event can trigger a client side event
•
Report Contract Note – a contract note is to be created and sent to the counterparty
Trigger and Report Contract Note events are not relevant to corporate actions.
Multiple
3937 1000-930
á
Accounting Model Stock Accounting Model Output Message Model Input Message Model Trigger Report Contract Note
T
AM SAM OMM IMM TRG RCN
Accounting Model Stock Accounting Model Output Message Model Input Message Model Trigger Report Contract Note
This field shows whether that the Instrument is assigned to more than one stock identifier with this number.
á
On
Instrument is assigned to more than one stock identifier with this number
T
Y
Instrument is assigned to more than one stock identifier with this number
8–27
Definition of Field Names
Field
Definition
Mutually Exclusive Options
If a corporate action has three optional lines, this field defines whether they are mutually exclusive. For example in a company takeover, there may be the options to swap securities, and a cash option. Selecting this field will ensure that only one of the options can be taken up.
á
On Off
Options are mutually exclusive Options are not mutually exclusive
T
Y N
Options are mutually exclusive Options are not mutually exclusive
Narrative Code
This is a code that refers to a narrative text defined on the Narrative Maintenance (NARRM) screen. It is used to enter extra information on the contract. This screen is described in Section 5 of this guide.
Net Holding
This is the total holding of the security at this custody location.
Net Listing
This is the final settlement amount of the entitlement, calculated using the cash value, foreign tax, local tax and any fees. This is in the list currency of the security.
Net Position
This is the portfolio's total holding of this security across all custody locations.
Net Settle
On the Corporate Action Entitlement Maintenance (SACXM) screen, this is the final settlement amount in the settlement currency, calculated using the Net Listing amount, and the exchange rate.
Net Value
This is the total of the charges and deductions in the list currency.
Next Portfolio
In a contract with multiple legs, enter the portfolio related to the next leg in this field. If no portfolio is entered, it is assumed that the contract input is complete. Portfolios are defined on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide.
Next Portfolio Manager
This field allows the inquiry to be limited to those entitlements with portfolio managers from this value.
Next Portfolio Type
This field allows the inquiry to be limited to those entitlements with portfolio types from this value.
Nominal Value
This displays the nominal or par value of the security, and its currency. Information can be automatically entered into this field using a third party information feed.
8–28
3937 1000-930
Definition of Field Names
Field
Definition
Nostro
The name of the nostro account of your institution that will be used for the custodian or depository. Nostros are defined on the Nostro Maintenance (NSTRO) screen, described in the Settlements Guide. You can also enter one of the following codes: V D C M U
Vostro Direct payment Compensating Contract Cash Memorandum Account Unknown or Inapplicable
Nostros can be defaulted onto contract entry screens according to rules set up on the Nostro Settlement Defaults (NSDFM) screen. For a list of valid combinations of entries in the Nostro and Agent fields, see "Nostro and Agent Combinations" in Section 1 of this guide. Notes
This is extra information added for a contract. Notes can either be in the form of a narrative code, or free format as entered on the Notes Maintenance (NOTEM) screen, described in Section 4 of this guide. An the Alerts Queue (ALTRQ) screen, this shows whether a note is present for a contract.
Number of Days
This is the number of days from the trade date for the settlement date. This can either be Business Days or Calendar Days as defined by the Business/Calendar Days field.
Number of Pay Dates
This is the total number of pay dates stored in the fields 1 Pay Date to 4th Pay Date.
st
Information can be automatically entered into this field using a third party information feed. OMM Diary Type
This shows the reversal transaction diary type to be created when this reversal message is sent. Reversal messages are defined on the SX Input Message Models (SXIMM) screen, described in Section 7 of this guide.
Open 1st Security Quantity nd Open 2 Security Quantity
This is the quantity of stock for this leg of the contract that has yet to be settled.
Open Quantity
This is the quantity of stock for this leg of the contract that has yet to be settled.
Open Value
This is the remaining consideration value for this leg of the contract that has yet to be settled.
Option
This is a S.W.I.F.T. format option code, attached to the tag to identify the field format. These codes are defined by S.W.I.F.T.
3937 1000-930
8–29
Definition of Field Names
Field
Definition
Our Nostro
The name of the nostro account of your institution that will be used for this leg of the contract or transfer. Nostros are defined on the Nostro Maintenance (NSTRO) screen, described in the Settlements Guide. You can also enter one of the following codes: V D C M U
Vostro Direct payment Compensating Contract Cash Memorandum Account Unknown or Inapplicable
Nostros can be defaulted onto contract entry screens according to rules set up on the Nostro Settlement Defaults (NSDFM) screen. For a list of valid combinations of entries in the Nostro and Agent fields, see "Nostro and Agent Combinations" in Section 1 of this guide.
Override Settlement Type
If this condition is applied to a contract, then the default settlement type is overridden and the settlement type defined here is used instead. Settlement Types are defined on the Stock Exchange Settlement Type Maintenance (SXSTM), described in Section 2 of this guide.
Parent Instrument
If the corporate action is one in a chain of corporate actions, then this identifies the original underlying instrument.
Partial Takeup Allowed
This field defines whether the corporate action allows partial takeup or partial takeover. If this field is enabled, the partial takeup can be entered as a percentage for each notification on the Corporate Action Notification Maintenance (SACNM) screen, described in section 4 of this guide.
Participation
This can either be mandatory or voluntary. Mandatory events are always processed, for every underlying holding. Voluntary events allow the portfolio manager or client the option of accepting the event, selecting any or all of the options, or letting it lapse.
Pay Cash Fractions
8–30
á
Mandatory Voluntary
T
M V
Mandatory Voluntary
This field is for future use.
3937 1000-930
Definition of Field Names
Field
Definition
Payment
This controls whether the payment is to be made net or gross of tax.
á
Net Gross
T
N G
Net Gross
Payment Date
This is the official date when payment is due for any cash distribution or subscription from the corporate action.
Percentage
This is the percentage charge across the band limit defined in the Band field. If this field is filled, the Value field must be left empty. The Calculation Method field defines whether the percentage charge is applied at the level of the highest band the consideration amount reaches, or whether the percentage charge is applied in slices across all the bands. On the corporate action screens, this is the percentage of the nominal that is charged to the portfolio or received by the portfolio. This field is only required if the corporate action is for a securities coupon. Whether the percentage is received or paid by a portfolio is controlled by the Cash Type field.
Portfolio
On the SX Contract Portfolio Add (SXCPA) screen, this is the portfolio that is buying or selling stock in this leg of the contract. On the Holding Transaction Maintenance (SAHLM) screen, this is the portfolio for which you are creating a manual custody accounting transaction. On the Portfolio and Depository Sub-Accounts Maintenance (CSACM) screen, this is the portfolio that you want to define a sub-account for. You must also enter a Depository and an Account at that depository before defining the sub-account. On the Stock Exchange Portfolio Selection Maintenance (SXPSM) screen, this is the portfolio used during a contract with this trade type, dealer, stock exchange and instrument. On the SX Contract Charges Add (SXCTA) screen, this is the name of the portfolio for which you are reviewing charges. On the corporate action screens, this is the portfolio to which the entitlement belongs. Portfolios are set up on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide.
3937 1000-930
8–31
Definition of Field Names
Field
Definition
Portfolio Category
This defines whether a portfolio belongs to a client, to a third party, or is a principle portfolio for your institution. Third party portfolios have limited functionality, and are only used to identify the broker.
á
Client Third Party Bank
T
C T B
Client portfolio Third Party portfolio Bank Portfolio
On the SX Contract Portfolio Add (SXCPA) screen, this shows the portfolio category of the current portfolio. Portfolios are described in more detail in the Portfolio Management Guide. Portfolio Currency
This is the currency of the portfolio, defined on the Portfolio Definition (PFDFM) screen, described in the Portfolio Management Guide.
Portfolio Manager
This is the portfolio manager defining instructions for portfolios managed by them, of the specified portfolio type.
Portfolio Name
This is the name of the current portfolio.
Portfolio Selection Code
This is used to identify which portfolio, owned by your institution, is used during a leg of a contract. This is only relevant if the leg of the contract is selling your institutions stock, or buying stock for your institution. For each portfolio selection code, a different portfolio can be chosen for a combination of Dealer Identifier, Stock Exchange Code and either Instrument Type or Instrument. Portfolio selection codes are defined on the General Purpose Narrative (GNARR) table, type PS. The portfolios that are related to that code are defined on the Stock Exchange Portfolio Selection Maintenance (SXPSM) screen.
8–32
Portfolio Type
The instruction applied on this screen will only affect entitlements for portfolios with this portfolio type that are managed by this portfolio manager.
Position and Length
This allows the user to identify the position and length of this value. The position and length can either be in the form of 3 characters plus 4 characters, or 4 characters plus 3 characters. This function allows for the customisation of messages to different file message interfaces.
3937 1000-930
Definition of Field Names
Field
Definition
Post Open Values
If an open value is maintained for a contract leg, use this field to indicate which events should update the open amount. This can be viewed on the SX Contract Portfolio Inquiry (SXCPI) screen.
á
On Off
Update open values Do not update open values
T
Y N
Update open values Do not update open values
Price
The price of each unit of the security being traded.
Priority
When this output message model is actioned, and an alert created, then this is the priority of that alert. This can be:
á
High Medium Low
T
A B C
High Medium Low
Process Date
The date on which this transaction diary event was processed. Nothing will be displayed if processing has not been completed
Process Flag
This field defines whether messages of this type should be automatically processed. An alert will be generated if an incoming message cannot be linked to an output message model. This provides the facility to define a model for which no action will be performed.
Process Time
3937 1000-930
á
On Off
Process this message Do not process this message
T
Y N
Process this message Do not process this message
The time that this transaction diary event was processed. For unprocessed events, this will be the sequence number defining the processing order, and can be entered manually if required.
8–33
Definition of Field Names
Field
Definition
Processed Flag
This shows the status of this diary event type for this contract leg. It can be either:
á
Processed – the diary event has been processed Unprocessed – the diary event has not been processed Void – the diary event has been removed from the settlement process
T
Y N V
Processed Unprocessed Void
Product Name
This is the name of the product, defined on the Products Type Maintenance (PRTPM) screen.
Product Type
The product type is used to control the processing of contract legs. See Stock Exchange Products Maintenance (SXAPM) for more details on product types for stock exchange contracts. See Corporate Action Products Definition (SACPM) for more information on product types for corporate actions. On the Stock Exchange Transaction Model Header Maintenance (SXEHM) screen, this is the product type that you are creating a transaction model for. Product types are defined on the Product Types Maintenance (PRTPM) screen, described in the Core Functions and Inquiries Guide.
Proprietary Code
A code to be added to the S.W.I.F.T. message type MT598. See the S.W.I.F.T. documentation for information on the applicable codes.
PS Codes
See "Portfolio Selection Code".
Qualifier
The name of the qualifier entered in the adjacent row. This is entered on the SX Message Format (SXMFM) screen to access the value defined for this qualifier.
Qualifier Type
The type of the qualifier defined in the adjacent fields. Qualifier Types are defined by S.W.I.F.T., and applicable codes can be found in the S.W.I.F.T. guide.
Quantity
The nominal quantity of the security bought or sold by this portfolio. On the Corporate Action Notification Maintenance (SACNM) screen, quantity refers to the quantity of the first or second instrument given to holders of the underlying security. This quantity represents the amount of the first/second instrument available for each unit of underlying holding, defined by the Underlying Quantity.
8–34
Quantity Bought
The total quantity of the instrument bought so far in the legs of the contract that have been entered.
Quantity Sold
The total quantity of the instrument sold so far in the legs of the contract that have been entered.
3937 1000-930
Definition of Field Names
Field
Definition
Quotation Basis
This is an indicator showing what basis is used when quoting prices for the security. Blank
Default value, Per Share
A
Price per Nominal Unit
B
Price per Receipt or Unit
C
Price per Underlying Security
D
Per Unit as % Nominal
E
Per Unit as % Underlying
F
Per Unit
G
Per 1000
H
Price Scaled Down by 1000
This field uses codes defined for an automatic third party information feed. Rate
This is the rate at which the tax is to be charged. Tax rates are set up on the Corporate Action Tax Code Maintenance (SATXM) screen, and are applied through the tax code on the Corporate Action Notification Maintenance (SACNM) screen. These screens are described in Section 4 of this guide. On the Corporate Action Entitlement Maintenance (SACXM) screen, this is the exchange rate.
Record Date
This is the date on which holders recorded in the central register of ownership of the security are allowed to participate in the corporate action event.
Record Type
This field defines whether this record for this security is a Skeletal record, a normal record, an extinct record or a price change record. G,P
Skeletal Record
1,2,C,D,H,I,L,M
Normal Record
3,4,E,F,J,K,N,O
Extinct Record
Information can be automatically entered into this field using a third party information feed. Reference
On the Alert Queue (ALRTQ) screen, this is the reference assigned to the alert. This depends on where the alert was raised. For internal alerts, the reference is the contract number. For externally raised alerts, the reference depends on the institution that raised it. On the corporate action screens, this is the individual reference assigned to a notification. It is used to identify the notification, with the Ex Date and instrument.
Reference End
3937 1000-930
If the depository requires a unique reference to be used in communication messages, then this is the last number in the range of applicable numbers.
8–35
Definition of Field Names
Field
Definition
Reference Required
If the depository requires a unique reference number on messages in addition to any contract number, then you must set this field to:
á
On – include a unique reference number
T
Y – include a unique reference number
The reference number is the next in a range defined by the Reference Start and Reference End fields. Reference Start
If the depository requires a unique reference to be used in communication messages, then this is the first number in the range of applicable numbers.
Relief Rate
If a Double Taxation Agreement exists between two countries, this is the rate of tax credit relief given against the local tax applied.
Rep
This is used to denote that the value in the S.W.I.F.T. message being created is repetitive.
Restrict to Account
Entering a settlement account in this field restricts the inquiry to those entitlements with this settlement account.
Restrict to CSD
Entering a custodian or depository in this field restricts the inquiry to those entitlements with this custodian or depository.
Restrict to Portfolio Manager
Entering a portfolio manager in this field restricts the inquiry to those entitlements for portfolios with this portfolio manager.
Restrict to Portfolio Type
Entering a portfolio type in this field restricts the inquiry to those entitlements for portfolios with this portfolio type.
Reverse Flag
This flag denotes that this message is to be created when reversing a transaction event with this product type.
á
On Off
T
Y N
8–36
Message will be created when cancelling a contract Message is not used for cancelling a contract Message will be created when cancelling a contract Message is not used for cancelling a contract
3937 1000-930
Definition of Field Names
Field
Definition
Reverse OMM Diary Type
When reversing a processed input message model transaction event, the user can specify an OMM diary type that will be used to create corresponding OMM events. For example if the user cancels an event with Trade Instruction IMM event, then a reversal Trade Cancellation IMM message is sent, and an OMM created to process the incoming message from S.W.I.F.T. The transaction event diary used for reversals must have been set up on the Stock Exchange Transaction Model Header Maintenance (SXEHM) and SX Transaction Model Detail Maintenance (SXEDM) screens, described in Section 7 of this guide.
Reversed
Review Charges
This indicates whether the transaction displayed has been reversed.
á
On Off
Transaction is a reversal Transaction is not a reversal
T
On Off
Transaction is a reversal Transaction is not a reversal
This allows you to review the charges associated with this leg of the contract. Reviewing of charges is done on the SX Contract Charges Add (SXCTA) screen, described in Section 6 of this guide.
á
Switch On this field and click the OK button
T
Enter "Y" in this field and press Transmit
Rounded to Nearest Value
If the authority charging stamp duty requires the stamp duty to be rounded, then the duty is rounded up to a multiple of this value. For example if this value is set to 2, then a calculated stamp duty of 194.57 dollars would be rounded up to 196 dollars.
Scrip Dividend Available
This field is for future use.
Second Instrument
See 'First Instrument'.
Second Portfolio
This is the portfolio that the stock is being transferred to.
Security Abbreviation
This is an 18-character code, unique to this security, used to enter the short security name. Information can be automatically entered into this field using a third party information feed.
3937 1000-930
8–37
Definition of Field Names
Field
Definition
Security Key
This is a code used only for corporate actions to define which security is being referred to, either the underlying security, the first security or the second security. Underlying Security (0) First Security (1) Second Security (2)
Security Name
A descriptive name of the stock exchange security.
Security Type
This defines the type of an individual stock exchange security in the securities master file. Security Types are then grouped together into Instrument Types, using the Security Master File - Types (STKTM) screen, described in Section 3 of this guide. On the Securities Master File - Quick Entry (STKQ1) screen, the following values apply: 0x
Miscellaneous
1x
Equity Capital
2x
Participating Dividend Capital
3x
Preferential Capital
4x
Commercial Company Loan Capital
5x
Derivatives
6x
Unit Funds
8x
Government and Corporation Securities
9x
Convertible Government and Corporation Securities
Cx
Commodities
Ix
Interest Rate
Nx
Indices
Xx
Exchange Rates
Where "x" is a unique qualifier to distinguish between different security types of the same class. Information can be automatically entered into this field using a third party information feed.
8–38
3937 1000-930
Definition of Field Names
Field
Definition
Select
On the Commission Tables by Category (CTCM) screen, when adding, changing or deleting Instrument Type / Commission Table combinations, you must:
á
Switch "On" this field adjacent to any combination being changed.
T
Enter "Y" in this field adjacent to any combination being changed.
On the Alert Queue (ALRTQ) screen, this field is used to define which security you are performing an action on. To do this:
á
Switch "On" this field adjacent to the alert being changed.
T
Enter "Y" in this field adjacent to the alert being changed.
On the SX Transaction Model Header Maintenance (SXEHM) and the SX Transaction Model Detail Maintenance (SXEDM) screen, this controls the lines of data being changed when updating information for a product type. If, while adding or maintaining information on this screen, you change a line of data, you must do the following to store the change:
á
Switch "On" this field adjacent to any data line being changed
T
Enter "Y" in this field adjacent to any data line being changed
Sender
This is the S.W.I.F.T. address of the sender of the message.
Sequence
The order in which the rows are to be displayed and processed. On the SX Message Format (SXMFM) screen, this is the sequence value defined by S.W.I.F.T. appropriate to this message.
Sequence Number
The order in which notes are to be displayed on the Notes Inquiry (NOTEI) screen. On the Alert Queue (ALRTQ) screen, this is the order in which messages are displayed. The sequence number for alerts is determined by the order in which they are received. On the Transaction Stock Movements Inquiry (SATRI) screen, this is the order in which the events are to be processed.
3937 1000-930
8–39
Definition of Field Names
Field
Definition
Settlement
This is only used when entering diary event types for corporate action accounting model events. It defines if the action being entered is for settlement of the custodian/depository or the client. It can be: Client (C) Depository (D)
Settlement Account
This is the settlement account to be used for settling this leg of the contract.
Settlement Currency
The currency in which this leg of the contract will be settled.
Settlement Date
This is the date it is expected that the trade will be settled. This is defaulted using the trade date and the settlement type, although this can be overridden if required. On the Alert Queue (ALRTQ) screen, this is the date on which the message was received.
Settlement Depository
This is the depository that handles the stock exchange security. Depositories are defined on Depository Maintenance (CSDM) screen, defined in Section 2 of this guide. On the SX Contract Common Add (SXCCA) and Custody Transfer (SXTFA) screens, this defines the settlement depository being used by your institution during this contract. This field can be entered by default from the Custody Model referenced by a combination of the blueprint parameter BPSX-CSTDY-MDL and the Stock Exchange involved in the contract. The Custody Model Maintenance (SXCMM) screen defines which depository is used by default for each stock exchange and instrument type combination. The custody model set up for your institution is defined by the blueprint parameter BPSX-CSTDY-MDL, described in the Guide to Setting Up.
Settlement Description
A description of the settlement type.
Settlement Gross
The total gross amount of this contract leg, made up of the individual Prices and Quantities. This is calculated automatically if this field is left blank, unless the Exchange Rate is close to 1, in which case a value must be entered.
Settlement Indicator
This is only used when entering diary event types for corporate action accounting model events. It defines whether the action being entered is for settlement of the custodian/depository or the client. It can be: Client (C) Depository (D)
8–40
3937 1000-930
Definition of Field Names
Field
Definition
Settlement Marker
This is a code used in the securities master file to define the Settlement Type. The codes for settlement type are defined on the Stock Exchange Settlement Type Maintenance (SXSTM) screen. Information can be automatically entered into this field using a third party information feed.
Settlement Rate
This is the exchange rate used for settling this leg of the contract if there are two different currencies.
Settlement Type
This code defines the rules to be used for computing the settlement date of a contract. The settlement type specifies the number of business or calendar days after trade date. Settlement Types are set up on the Stock Exchange Settlement Type Maintenance (SXSTM) screen, described in Section 2 of this guide.
Settlement Value
The final settlement amount for this leg of the contract.
Short Description
This is a short description of the charge.
Short Positions OK
If the depository allows stock positions to be short, then you should set this field to:
Show Cancelled
Show Processed
3937 1000-930
á
On Off
Allow short positions Do not allow short positions
T
Y N
Allow short positions Do not allow short positions
This field allows you to include contracts that have been cancelled in the inquiry.
á
On Off
Show cancelled contracts Do not show cancelled contracts
T
Y N
Show cancelled contracts Do not show cancelled contracts
This field controls whether processed notifications or entitlements are to be shown on the inquiry screen.
á
On Off
Show processed notifications Do not show processed notifications
T
Y N
Show processed notifications Do not show processed notifications
8–41
Definition of Field Names
Field
Definition
Source
This is the source of the alert message. It is name of the report inside this system that created the alert. On the Securities Master File - Listings screens, this shows whether the record for the security and stock exchange combination was entered automatically by an information feed, or manaully. Auto (A) - This record was entered by an information feed. Manual (M) - This record was entered manually.
Splitting Supported
8–42
This defines whether the depository allows splitting of stock prior to settlement.
á
On Off
The depository supports splitting The depository does not support splitting
T
Y N
The depository supports splitting The depository does not support splitting
Stamp Duty
The amount of stamp duty payable for this leg of the contract.
Stamp Duty Applies
This field is for future use.
Start Company Name
The company name from which you want the search to begin.
Start Corporate Action Type
The corporate action type from which you want the search to begin.
Start Security Name
The security name from which you want the search to begin.
Starting Corporate Action Type
This field allows the inquiry to be limited to those product types with corporate action types after this value.
Starting Depository
This field allows the inquiry to be limited to those product types with depositories after this value.
Starting External Code
This is the external code from which you want the inquiry to start from.
Starting Qualifier
The qualifier that you want the inquiry to start from.
3937 1000-930
Definition of Field Names
Field
Definition
Starting Sequence Number
This is the sequence number from which you want the inquiry to begin. The sequence number for a note is defined on the Notes Maintenance (NOTEM) screen, described in Section 5 of this guide. On the Alert Queue (ALRTQ) screen, this is the sequence number from which you want the inquiry to begin from.
Starting Tag Sequence
This is the Tag Sequence number that you want the S.W.I.F.T. message to be displayed from.
Status
The message model can be limited to one type of S.W.I.F.T. message status, defined by this field. Before using this field, you must have defined the message layout on the SX Message Format (SXMFM) screen. This field is used in conjunction with the Message Qualifier field, where you must define where the status is located in the message. On the corporate action screens, this shows the current status of the notification, and is updated when the different stages of processing have been completed. The following statuses are applicable
• • • • Stock Accounting Model Sub-Balance Codes
Unprocessed (U) High Level Analysis Complete (H) Low Level Analysis Complete (L) Processing Complete (C)
These are the literals to be used as headings for the various stock accounting sub-balances. The first position is reserved for use as the Beneficial Position, so it cannot be defined by the user. The literals defined here are displayed in screens Holdings Inquiry (SAPNI), Holding Transactions Inquiry (SAPSI), and Transaction Stock Movements Inquiry (SATRI). The literals are defined on the General Purpose Narrative (GNARR) table, type SD, described in the Guide to Setting Up.
Stock Comment
This is a free format field allowing you to add notes on the security.
Stock Exchange Code
A mnemonic that represents the stock exchange, and is defined on the Stock Exchanges (SEM) screen, along with the basic details of a stock exchange. If your institution is using the FTS interface to enter information on securities into the securities master file, then the stock exchange code must either be the same as that used by FTS, or the codes must be linked on the External Code Cross Reference Maintenance (SXXRM) screen. On the SX Principal Filter and Portfolio Selection screens, this is the mnemonic of the stock exchange that you want to create a principal filter or portfolio selection for.
3937 1000-930
8–43
Definition of Field Names
Field
Definition
Stock Exchange Levy
This is the charge calculated for this leg of the contract that has been levied by the stock exchange where the instrument is registered. Stock exchange charges are defined on the Stock Exchange Charges Maintenance (SLEVM) screen, described in Section 2 of this guide.
Stock Exchange Name
This is the full name of the stock exchange.
Stock Identifier
This is a unique reference number given to each individual stock exchange security stored in the securities master file. If adding a new stock identifier via the Security Master File – Quick Entry (STKQ1) screen, the final digit in the number you enter is a check digit, calculated from the preceding digits. To turn off this feature, use the blueprint parameter BP-SMF-CD-RQD, see "Blueprint Parameters" in the Guide to Setting Up for more information.
Stock Inhibit Flag
á
Switch 'On' this field
T
Enter "Y" in this field
Stock Name
This is the name given to the security in the securities master file.
Stock Pricing Type
This shows how the price of the stock is quoted. This can be either Fixed Income, where the price is quoted per unit of quotation (for example 100 GBP nominal), or Share, where the price is quoted for 1 security.
Sub-Account
8–44
Allows you to stop users creating contracts based on this security. To do this:
á
Fixed Income Share
T
F S
Fixed Income Share
The sub account for the specified custody location (depository and account).
3937 1000-930
Definition of Field Names
Field
Definition
Sub-Account Required
This defines whether the depository requires one of its clients to have a sub account allocated when creating a contract. Sub accounts can either be entered directly into the contract, or set up as defaults on either the Custody Model Maintenance (SXCMM) or the Portfolio and Depository Sub Accounts Maintenance (CSACM) screen. Both these screens are described in Section 7 of this guide.
Sub-Balance Movements Position 1 to 7
á
On Off
Sub-account required Sub-account not required
T
Y N
Sub-account required Sub-account not required
These define the movement of custody into and out of various sub-balances within the custody location. The identities of the Sub-balance accounts are different for each depository, and are defined on the Depository Maintenance (CSDM) screen, in the Stock Accounting Model Position Codes fields. In these fields you can enter:
Supplementary 1 to 3
+
Credit this stock account sub-balance
-
Debit this stock account sub-balance
This displays any supplementary charges applied to the leg of the contract. Both the supplementary charge code and the calculated amount are displayed. Supplementary charges are defined on the Stock Exchange Charges Maintenance (SUPCM) screen, described in Section 2 of this guide.
Suppress Certificates
Suppress SE Tax/Levy
3937 1000-930
This defines whether certificates are to be printed for the contract or not:
á
On Off
Do not print certificates Print a certificates
T
Y N
Do not print certificates Print a certificates
This defines whether the charges levied by a stock exchange will be applied to this contract or not:
á
On Off
Do not apply charges Apply charges
T
Y N
Do not apply charges Apply charges
8–45
Definition of Field Names
Field
Definition
Suppress Stamp Duty
This defines whether stamp duty is to be applied to a contract or not:
Suppress Transfer Deeds
Suppress Zero Holdings Records
á
On Off
Do not apply stamp duty Apply stamp duty
T
Y N
Do not apply stamp duty Apply stamp duty
This defines whether a transfer of stock form is to be printed for the contract or not:
á
On Off
Do not print transfer form Print transfer form
T
Y N
Do not print transfer form Print transfer form
Use this field to limit the inquiry to holdings that are not zero. To do this:
á
Switch On this field to limit the inquiry to non zero holdings
T
Set this field to "Y" to limit the inquiry to non zero holdings
Tag Sequence
The tag sequence number that you are creating a qualifier for. The tag sequence numbers for each message type are set up on the SX Message Format (SXMFM) screen, described in Section 7 of this guide.
Takeup Rate
If the notification is allowed to have a partial takeup (for example partial takeover), this is the takeup percentage. A notification is defined as allowing a partial takeup on the Corporate Action Type Maintenance (SACDM) screen, described in Section 4 of this guide.
Tax Applied
This controls how the tax is applied to the original cash value. If net, the cash is subtracted at source. If gross, the cash has been received with no tax applied.
Tax Code
á
Net Gross
T
N G
Net Gross
This code identifies the tax rates that apply to a corporate actions event. Tax codes are set up on the Corporate Action Tax Code Maintenance (SATXM) screen, described in Section 4 of this guide.
8–46
3937 1000-930
Definition of Field Names
Field
Definition
Tax Rate
This is the tax rate applicable. The rate should be entered as a percentage figure.
Their Agent
The name of the agent who is handling this leg of the contract or transfer. Agents are set up on the Agent Details (AGNTM) screen, described in the Settlements Guide. You can also enter one of the following codes: A U S @
Automatic Client Vostro Account No agent is involved on this side of the deal Agent is the same as the nostro This must be followed by the exact S.W.I.F.T. address of the agent.
Agents can be defaulted onto contract entry screens according to rules set up on the Agent Settlement Defaults (AGDFM) screen. Third Party Charge
This is the calculated third party charge or commission.
Third Party or Percentage
If this contract leg has a charge applied by a third party, then enter either the value of the charge, or a percentage fee here.
Time
See "Process Time".
To Date
This field allows you to limit the inquiry to transactions affecting the holding up to this date.
Total Quantity
The total quantity of the instrument traded under this contract.
Trade Date
The date on which the trade took place. The default for this is the current system date.
Trade Time
The time the trade took place. You must only enter this field if this leg is for a third party portfolio.
3937 1000-930
8–47
Definition of Field Names
Field
Definition
Trade Type
This defines the type of trade of a contract. The different trade types must be defined on the General Purpose Narrative (GNARR), table type TR. The different trade types are:
• • • •
Agency – between third parties and your clients Agency Cross – between your clients Principal to Client – between your institution and your clients Principal to Market– between your institution and third parties
á
Agency Agency Cross Principal to Client Principal to Market
T
A X I T
Agency Agency Cross Principal to Client Principal to Market
On the Stock Exchange Charges Maintenance (SLEVM) and Stamp and SDRT Charges Maintenance (STMPM) screens, this defines the trade type that the current charge is to be applicable to. Trading Exchange
Trading General Ledger
This shows whether the stock exchange is currently trading.
á
On Off
Exchange is Trading Exchange is not Trading
T
Y N
Exchange is Trading Exchange is not Trading
On the SX Principal Filter screens, this is the general ledger account used during a contract with this trade type, dealer, stock exchange and instrument. On the SX Contract Add screens, if this leg of the contract is of the Trade Type 'Trade' or 'Investment', enter the general ledger account to be used.
8–48
3937 1000-930
Definition of Field Names
Field
Definition
Transaction Creation Date
To control the processing of a corporate action notification automatically, this is the number of days before the Ex date when notification is processed. Before the notification can be processed, the low level analysis must have been run. This is ordered using the Entitlement Calculation Date. This is a code representing the number of days before or after a specified date that this step in processing is carried out. The code must be entered as: d+nn
For number of days after a specified date
d-nn
For number of days before a specified date
In this code, nn can be any two digit number, and d can be one of the following codes: E
Use the Entitlement Date
D
Use the Deadline Date
P
Use the Payment Date
R
Use the Record Date
See Corporate Action Processing in Section 1 of this guide for more information. Transaction Date
This is the date on which the transaction will take place, or took place. If the transaction is entered to represent a backdated record, this will be the date the transaction was originally created.
Transaction Group
This groups together messages in an input message model. It is entered on the SX Input Message Models (SXIMM) screen, and used during an inquiry on the SX Input Message Model Inquiry (SXIMI) screen.
Transaction Sequence
This determines the sequence in which messages are displayed on the SX input Message Model Inquiry (SXIMI) screen. It is defined on the SX Input Message Models (SXIMM) screen.
Transaction Time
This is the time the transaction will take place, or took place. If the transaction is entered to represent a backdated record, this will be the time the transaction was originally created.
Transaction Type
See "Holding Transaction Type".
Transfer
This shows whether the contract displayed in this inquiry is a transfer entered on the Custody Transfer (SXTFA) screen.
3937 1000-930
á
On Off
A Custody Transfer Not a Custody Transfer
T
Y N
A Custody Transfer Not a Custody Transfer
8–49
Definition of Field Names
Field
Definition
Transfer Indicator
This shows whether this contract is a transfer, entered on the Custody Transfer (SXTFA) screen.
Transfer Out on Option Lapse
á
On Off
Contract is a Custody Transfer Contracts is not a Custody Transfer
T
Y N
Contract is a Custody Transfer Contract is not a Custody Transfer
If the corporate action is optional, then this controls what happens to the original holding if the option lapses. The original holding can either be removed, or left in place. If left in place the holding will be worthless, but is still recorded.
á
On Off
Remove Original Holding Keep Original Holding
T
Y N
Remove Original Holding Keep Original Holding
This allows two corporate action types to use the same product definitions, but suppresses the transfer out stock accounting when using one. Transfer Quantity
This is the final quantity of eligible holding affected by this corporate action. It is the Instructed Quantity from this screen reduced by the Takeup Rate on the Corporate Action Notification Maintenance (SACNM) screen.
Trigger Diary Type
This field defines a transaction diary type on the opposite side of the contract that will be triggered when this transaction event is actioned. Transaction diary types are defined on the SX Transaction Model Header Maintenance (SXEHM) screen, described in Section 7 of this guide.
Type
This defines the type of information to be entered in the Value field. It can either be: F - Fixed Text Field D - Database field. Database fields are defined on the SX Database Message Fields (SXDBM) screen Q - Qualifier field. Qualifiers are defined on the SX Message Qualifiers (SXMQM) screen On the corporate action screens, this is the corporate action type of the notification. See "Corporate Action Type" for more information. On the Corporate Action Type Inquiry (SACDI) screen, this is the corporate action type.
Underlying Quantity
8–50
This is the quantity of underlying security to which the other factors entered on this screen relate. For example, if the underlying quantity is 1, then a Cash Price of 10GBP would pay 10GBP for each of the underlying holding.
3937 1000-930
Definition of Field Names
Field
Definition
Unit of Quotation
The unit for which the price is quoted. This value defaults from information in the securities master file.
Update
Non space character = Update the line according the value in the MAINT field Controls whether a line entered or changed on this screen is updated in the database. If this field is not selected, then no changes will be made to the database, regardless of the changes that have been made. To update the database for a given line of the message:
á
On Off
Update database for adjacent line Do not update database for adjacent line
T
Y Off
Update database for adjacent line Do not update database for adjacent line
Usercode
The usercode of the user who raised the alert.
Value
The charge amount across the band limit defined in the Band field. If this field is filled, the Percentage field must be left empty. The Calculation Method field defines whether the charge amount is applied at the level of the highest band the consideration amount reaches, or whether the charge amount is applied in slices across all the bands. On the SX Message Format (SXMFM) and SX Message Qualifiers (SXMQM) screen, this is the value, or a database reference, to be included in a S.W.I.F.T. message.
Value Flag
Version
This defines what type of value is to be entered into the value field. It can be either: F-
Fixed Text field
D-
Database field. Database fields are defined on the SX Database Message Fields (SXDBM) screen.
This shows whether the contract was created after a cancellation of an earlier contract. X - the contract is a replacement for a cancelled contract Blank - the contract is the first version of the contract
Void
3937 1000-930
This allows you to view transaction diary events that have been voided. A transaction diary event is voided when the related contract is reversed. Any event not already actioned is then voided.
á
On Off
View voided events Do not view voided events
T
Y Off
View voided events Do not view voided events
8–51
Definition of Field Names
Field
Definition
When
This controls the date from which the action defined in the adjacent row can be processed. This can be either the trade date plus 0 to 9 days, or the settlement date plus 0 to 9 days. These are entered as:
•
T+N – N days from the trade date where N is a number between 0 and 9
•
S+N – N days from the settlement date where N is a number between 0 and 9
Trade date is the selected entitlement calculation date. Settlement date is the payment date (if different from the trade date). Width Override
A code to accept exchange rates that exceed the width rate percentage for the currency. It can be: Enter the wide code (W) if the exchange rate exceeds the first width band. Enter the management code (M) if the exchange rate exceeds the second width band.
Withholding Tax Applies
8–52
This field defines whether withholding tax applies for notifications of this corporate action type:
á
On Off
Withholding tax applies Withholding tax does not apply
T
Y Off
Withholding tax applies Withholding tax does not apply
3937 1000-930
Index A Agents, 1-27 Alert Kinds (ALRKM) Description of, 5-2 Example of, 5-2 Alert Queue, 1-26 Alert Queue (ALRTQ) Description of, 5-4 Example of, 5-5 ALRKM screen, 5-2 ALRTQ screen, 5-4 Automatic Entry of Securities, 1-3
C Cash Memorandum Account Maintenance (CSCMM) Description of, 2-16 Example of, 2-16 CCDNM screen, 2-3 Charges Introduction to, 1-19 Stamp Duty, 1-19 Supplementary, 1-19 Variable and Fixed, 1-19 Charges Maintenance screens, 2-6 Classifying Securities, 1-7 Commission Table Maintenance (COMMM) Description of, 2-12 Example of, 2-12 Commission Tables by Category (CTCM) Description of, 2-13 Commission Tables by Category (CTCM) screen Example of, 2-14 COMMM screen, 2-12 Contract Entry screens, 6-3 Contract Inquiry screens, 6-17 Contract Maintenance screens, 6-9 Contract Matching, 1-25 Contract Settlement, 1-22 CSACM screen, 7-4 CSCMM screens, 2-16 CSDM screen, 2-15
3937 1000-930
Custody Definition, 1-18 Model, 1-18 Custody Model Maintenance (SXCMM) Description of, 7-2 Example of, 7-3
D Defining Instruments, 1-5 Definition of Field Names, 8-53 Depository Maintenance (CSDM) Description of, 2-15 Example of, 2-15
F Field Names Defined, 8-53 Fixed Charges, 1-19
H Holding Transactions Inquiry (SAPSI) Description of, 6-26 Example of, 6-26 Holdings Inquiry (SAPNI) Description of, 6-25 Example of, 6-25
I Instrument Definition, 1-5
M Managing Securities, 1-3 Manual Entry of Securities, 1-3 Matching of Contracts, 1-25 Message Definition screens, 7-14 Messages for Securities, 1-26
Index-1
Index
N Narrative Maintenance (NARRM) Description of, 5-3 Example of, 5-3 NARRM screen, 5-3 Nostro/Agent Combinations, 1-27 NOTEI screen, 5-7 NOTEM screen, 5-6 Notes Inquiry (NOTEI) Description of, 5-7 Example of, 5-7 Notes Maintenance (NOTEM) Description of, 5-6 Example of, 5-6
O Overview, 1-1
P Portfolio and Depository Sub-Accounts Maintenance (CSACM) Description of, 7-4 Example of, 7-4
S S.W.I.F.T. Address format, 1-29 SAMDM screen, 7-11 SAPNI screen, 6-25 SAPSI screen, 6-26 SATRI screen, 6-27 Screens Contract Entry, 6-3 Contract Inquiry, 6-17 Contract Maintenance, 6-9 Message Definition, 7-14 Screens Charges Maintenance, 2-6 Securities Instrument Maintenance, 3-1, 5-1 Static Data, 2-1 Stock Exchange Maintenance, 2-4
Index-2
Securities Automatic Entry, 1-3 Contracts, 1-20 Management, 1-3 Manual Entry, 1-3 Messages, 1-26 Securities Classification, 1-7 Securities Instrument Maintenance screens, 3-1, 5-1 Securities Master File Screens (STKA1) to (STKR1), 3-2 Security Master File - Listing Inquiry (STKLI) Description of, 3-15 Example of, 3-16 Security Master File – Listing Maintenance (STKLM) Description of, 3-7 Example of, 3-7 Security Master File – Overrides (STKMM) Description of, 3-8 Example of, 3-9 Security Master File - Quick Entry (STKQ1) Description of, 3-4 Example of, 3-4 Security Master File - Security Search (STKSE) Description of, 3-11 Example of, 3-12 Security Master File - Soft Key Inquiry (STKSI) Description of, 3-13 Security Master File - Soft Key Inquiry (STKXI) Example of, 3-14 Security Master File – Soft Keys (STKXM) Description of, 3-5 Example of, 3-6 Security Master File - Types (STKTM) Description of, 3-10 Example of, 3-10 SEM screen, 2-4 Settlement of Contracts, 1-22 Settlement Stages, 1-24 SLEVM screen, 2-6 Stages of Settlement, 1-24 Stamp and SDRT Charges Maintenance (STMPM) Description of, 2-8 Example of, 2-9 Stamp Duty, 1-19 Static Data Introduction to, 1-17 Screens, 2-1
3937 1000-930
Index
STKA1 to STKR1 screens, 3-2 STKLI screen, 3-15 STKLM screen, 3-7 STKMM screen, 3-8 STKQ1 screens, 3-4 STKSE screen, 3-11 STKSI screen, 3-13 STKTM screen, 3-10 STKXM screen, 3-5 STMPM screen, 2-8 Stock Accounting Models Maintenance (SAMDM) Description of, 7-11 Example of, 7-11 Stock Exchange Charges Maintenance (SLEVM) Description of, 2-6 Example of, 2-6 Stock Exchange Contract Conditions (CCDNM) Description of, 2-3 Example of, 2-3 Stock Exchange Maintenance Screens, 2-4 Stock Exchange Portfolio Selection Inquiry (SXPSI) Description of, 2-22 Stock Exchange Portfolio Selection Inquiry (SXPSI) Example of, 2-22 Stock Exchange Portfolio Selection Maintenance (SXPSM) Description of, 2-19 Stock Exchange Portfolio Selection Maintenance (SXPSM) Example of, 2-20 Stock Exchange Products Browse (SXAPI) Description of, 7-19 Example of, 7-19 Stock Exchange Products Maintenance (SXAPM) Description of, 7-5 Example of, 7-6 Stock Exchange Securities Work Flow, 1-2 Stock Exchange Settlement Type Maintenance (SXSTM) Description of, 2-5 Example of, 2-5 Stock Exchanges (SEM) Description of, 2-4 Example of, 2-4 SUPCM screen, 2-10 Supplementary Charges, 1-19 Supplementary Charges Maintenance (SUPCM) Description of, 2-10 Example of, 2-11
3937 1000-930
SX Contract Cancellation (SXCNX) Description of, 6-9 Example of, 6-9 SX Contract Charges (SXCTA) Description of, 6-8 Example of, 6-8 SX Contract Common Add (SXCCA) Description of, 6-3 Example of, 6-4, 6-14 SX Contract Common Browse (SXCCB) Description of, 6-18 Example of, 6-19 SX Contract Common Inquiry (SXCCI) Description of, 6-17 Example of, 6-17 SX Contract Portfolio Add (SXCPA) Description of, 6-5 Example of, 6-7 SX Contract Portfolio Browse (SXCPB) Description of, 6-22 Example of, 6-22 SX Contract Portfolio Inquiry (SXCPI) Description of, 6-20 Example of, 6-20 SX Database Message Fields (SXDBM) Description of, 7-16 Example of, 7-16 SX Input Message Model Inquiry (SXIMI) Description of, 7-20 Example of, 7-20 SX Input Message Models (SXIMM) Description of, 7-12 Example of, 7-12 SX Message Browse (SXMB) Description of, 6-24 Example of, 6-24 SX Message Format (SXMFM) Description of, 7-14 Example of, 7-15 SX Message Qualifiers (SXMQM) Description of, 7-17 Example of, 7-18 SX Output Message Models (SXOMM) Description of, 7-13 Example of, 7-13 SX Principal Filter Inquiry (SXPRI) Description of, 2-21 Example of, 2-21 SX Principal Filter Maintenance (SXPRM) Description of, 2-17 Example of, 2-18
Index-3
Index
SX Transaction Diary Browse (SXTDB) Description of, 6-23 Example of, 6-23 SX Transaction Diary Maintenance (SXTDM) Description of, 6-10 Example of, 6-10 SX Transaction Model Detail Maintenance (SXEDM) Description of, 7-9 Example of, 7-10 SX Transaction Model Header Maintenance (SXEHM) Description of, 7-7 Example of, 7-8 SX Unmatched Contract Browse (SXCUB) Description of, 6-12 Example of, 6-12 SXAPI screen, 7-19 SXAPM screen, 7-5 SXCCA screen, 6-3 SXCCB screen, 6-18 SXCCI screen, 6-17 SXCMM screen, 7-2 SXCNX screen, 6-9 SXCPA screen, 6-5 SXCPB screen, 6-22 SXCPI screen, 6-20 SXCTA screen, 6-8 SXCUB screen, 6-12
Index-4
SXDBM screen, 7-16 SXEDM screen, 7-9 SXEHM screen, 7-7 SXIMI screen, 7-20 SXIMM screen, 7-12 SXMB screen, 6-24 SXMFM screens, 7-14 SXMQM screen, 7-17 SXOMM screen, 7-13 SXPRI screen, 2-21 SXPRM screen, 2-17 SXPSI screen, 2-22 SXPSM screen, 2-19 SXSTM screen, 2-5 SXTDB screen, 6-23 SXTDM screen, 6-10
T Transaction Stock Movements Inquiry (SATRI) Description of, 6-27 Example of, 6-27
V Variable Charges, 1-19
3937 1000-930
