PURPOSE
This document describes how to confirm non-deliverable forward trade.
WHY IS THIS IMPORTANT?
Confirmation involves the step of sending out a confirmation letter to an external trade counterparty to confirm the financial instruments booked. This is important because the transaction will not be completed without confirmation.
PROCEDURE
1. From the launch screen of the non-deliverable forward module, tick on the checkbox beside the trade ID to confirm.
2. Note that transaction needs to be verified and authorized before confirmation can be completed. Check the icons in the Flag column to determine which process was performed. This letters V, A and C means the transaction is verified, authorized, but not yet confirmed.
3. Click Confirm. The Confirmation screen displays.
4. In the dropdown beside By field, choose Email, Excel, or Print. In this example, Print is chosen.
5. Click Confirm. A popup appears, click Yes.
6. A confirmation letter in PDF to confirm the Non-Deliverable contract will be displayed.
7. Print or Save in the computer’s drive.
8. Click on the Back button of the browser.
9. Click Cancel button to return to the Non-Deliverable Forward listing page. Notice that the C in the Flag is now in green, which means it is confirmed.
10. Next, to confirm a fixed non-deliverable forward transaction, tick on the check box beside the fixed trade.
Note: Fixing trade must be authorised and verified before confirmation of the fixing.
11. Click Confirm.
12. Select Print and click Confirm. Options available are Email, Excel or Print.
13. The non-deliverable forward fixing letter in PDF will be displayed. Notice that, unlike the previous confirmation letter, the Fixing Rate and Settlement Amount is now determined.
14. Print or Save to the computer’s drive.
15. Click on the browser’s back button.
16. Click Cancel button to go return to the Non-Deliverable Forward listing screen.
FREQUENTLY ASKED QUESTIONS
FAQ01. How do I print confirmation letter with our company logo?
To print confirmation letter with company logo, check Adding Company Logo for instructions.
FAQ02. Can I confirm multiple Non-Deliverable Forward trades?
To confirm multiple non-deliverable forward trades, you need to have the following access rights. Please request your administrator to grant the necessary permissions.
Right ID Category Assigned Permission
13641 Non-Deliverable Forwards Multiple Confirm NDF Trades.
Please note that with the multiple confirm trades feature, the system will only verify if you have the access rights. If granted, the system will mark the trades as confirmed. There are no additional checks or process logic implemented for confirming multiple trades.
RELATED INFORMATION
Launching Non-Deliverable Forward
CHANGE HISTORY
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