Fixed Deposit Account Number on Money Market Confirmation

PURPOSE

This document illustrates the steps to show fixed deposit account number on money market placement or rollover confirmation letters.

WHY IS THIS IMPORTANT?

Some bank practices required to show fixed deposit account number in the money market placement or rollover confirmation letters.

SET UP FIXED DEPOSIT ACCOUNT AT COUNTERPARTY SSI

Create fixed deposit account at Set Up > Static > Settlement Instructions > Counterparty SSI. Click here for more details on Counterparty SSI set up.

Maintain the fixed deposit account information at the “Acct Ref” field.

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Click Save.

Then, select the Counterparty SSI, click Approve.

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Click OK when prompted to confirm.

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BOOK MONEY MARKET PLACEMENT TRADE

Book a money market placement trade.

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ASSIGN COUNTERPARTY SSI FOR MONEY MARKET PLACEMENT TRADE’S SETTLEMENT

On value date (or start date) of Money Market placement trade’s settlement, select the fixed deposit account (counterparty ssi) you created earlier for Their SSI, click Update.

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On maturity date of the Money Market placement trade’s settlement, select the fixed deposit account (counterparty ssi) you created earlier for Their SSI, click Update.

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Note: For Money Market placement rollover (full or partial) you will need to select the fixed deposit account (counterparty ssi) you created earlier for Their SSI on the maturity date of the Money Market rollover trade’s settlement.

INSTRUCTION LETTER TO BANK

To instruct the bank, print out the confirmation letter from the Money Market placement transaction. You should see the fixed deposit account is reflected as below

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FREQUENTLY ASKED QUESTIONS

 

RELATED INFORMATION

How to Set Up Counterparty SSI

Money Market Creation

Cash Settlement

Money Market Confirmation

CHANGE HISTORY

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