Fixed Deposit Account Number on Money Market Confirmation
See the previous W5 version guide.
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.
Click Save.
Then, select the Counterparty SSI, click Action > Approve.
Click Yes when prompted to confirm.
BOOK MONEY MARKET PLACEMENT TRADE
Book a money market placement trade.
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.
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.
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
FREQUENTLY ASKED QUESTIONS
RELATED INFORMATION
How to Set Up Counterparty SSI
CHANGE HISTORY
