This document gives the detailed procedure on how to amend foreign exchange transactions.
WHY IS THIS IMPORTANT?
This screen allows users to make amendments to the trades booked in the CS Lucas system if necessary.
1. From the launch page of the Foreign Exchange module, choose the Accounting Centre from the drop down and the VDate Fr field. In this example, TFS-SG will be chosen.
2. Click Refresh. FX transactions under that Accounting Centre will be displayed.
3. Click on the TradeID of the transaction to amend. In this example, FRX100015.00 will be amended.
4. From the Amend Foreign Exchange Outright screen, changes can be made.
5. All fields under Soft Amend button are non-contractual details. If Portfolio, Transaction Type, Project, Ctpy Dealer, Narrative will be changed, clicking Soft Amend button will suffice. This will not change the suffix of the TradeID and does not require re-authorization and re-verification.
6. The fields above the soft amend button are contractual details, therefore re-authorization and re-verification are required. Updating these fields will warrant a change in the suffix of the TradeID.
7. In this example, the amount and the Spot Reference Rate will be amended.
8. Click Update. A popup will appear. Click OK.
9. The system will recompute the countervalue. Click Update again. Choose OK in the popup.
10. The Foreign Exchange main screen will be displayed. The TradeID’s suffix changes and the amendments on the amount and exchange rate will be shown.
11. The amended transaction will need to be verified and authorized. For instructions, check Authorizing and Verifying Trades.
FREQUENTLY ASKED QUESTIONS
FAQ01. Are there restrictions in amending foreign exchange transactions?
Yes there are. When amending FX transactions, the following restrictions apply:
a. FX swaps cannot be amended because those are booked as a pair of FX Outright trades. The pair needs to be deleted then rebooked before amending.
b. If the trade has been rolled. A rolled trade has to be deleted and then rebooked.
c. If the trade has been confirmed. To amend, un-confirm the trade first.
Launching Foreign Exchange Module