This document describes how to fix a non-deliverable forward trade.
1. From the launch screen of Non-Deliverable Forward, click on the check box next to the trade to be fixed.
2. Click Fixing.
3. Type in the Fixing Rate in the field provided.
4. Click Refresh Button. The system recomputes the difference between the fixing rate and the contracted NDF rate on the agreed principal amount.
5. Click Fix. A popup appears, click OK.
6. The Flag column shows F, which means that the trade has been fixed.
7. Note that once fixed, the trade can no longer be amended. If the TradeID needs to be amended, then it should be unfixed first, changed, and then fixed again.
8. To unfix, click on the checkbox next to the TradeID.
9. Click Fixing.
10. Click Unfix. A popup appears, click OK.
FREQUENTLY ASKED QUESTIONS
FAQ01. Can I fix an NDF trade if the trade is not confirmed?
No. An NDF trade must be confirmed before the system allows you to fix it.
FAQ02. Why there is the settlement amount shown in Settlement Diary when the NDF trade is not confirmed and fixing has not been entered?
When a NDF trade is booked (before confirmation and fixing), system will generate a cash flow on the value date. This is so that system will reflect the transaction to plan for cash flow regardless whether the trade is confirmed or fixed. This cash flow is the difference between the spot valuation rates as of the trade input date and the contract rate multiplied by the trade currency amount. This settlement amount will change to fixing amount once the trade has been fixed, which is normally 2 days before value date.