24. Securities Transfer Across Locations

 

24.1 Securities Transfer Across Locations

Depending on customer specification you may need to withdraw a specified quantity of securities, from one particular safe keeping location and lodge them in another location.

To transfer securities from one SK location to another you need to specify certain essential details. They can include details such as the quantity of securities to be transferred, the date on which the settlement is to take place, the codes assigned to the SK locations involved in the transfer and SK account numbers.

In addition to transferring securities from one SK location to another, you can also transfer securities from one account to another, within the same SK location.

24.1.1 Transferring Securities Across Locations

You can invoke the ‘Transfer Across Safe Keeping Locations Forms’ screen by typing ‘SEDXSKNL’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

Click new icon on the toolbar. This screen will be displayed with no values in the fields.

If you are calling a record that has already been created, click on Summary view. From the Summary screen you can open an existing record. The details of the records that you have created will be displayed in a tabular form.

Product Code

In Oracle FLEXCUBE each product created is identified by a unique four-character code called a product code. You can follow your own convention for devising this code, however one of the characters of the code should necessarily be a letter of the English alphabet.

The product codes maintained in the Deal Product Definition screen are picked up and displayed in the picklist available.

Deal Reference

This is a system generated deal reference number. This number is generated using the Branch Code, Product Code, Julian date and running serial number combination. The number cannot be changed.

User Reference

You can enter a reference number for the securities transfer. The securities transfer will be identified by this number, in addition to the Deal Reference No., generated by the system. This number should be unique. By default, the Deal Reference Number generated by the system, will be taken as the User Reference Number.

Security Code

You can indicate the code of the security involving the product, for which SK location change details are being defined. If it is security of bond type with series, you are required to indicate the series for which the transfer is being initiated.

Once you specify the security code, the description of the code will be picked up and displayed in the adjacent field.

Security Series

If it is security of bond type with series you are required to indicate the series for which the transfer is being initiated.

Click the adjoining option list and select the series for which the transfer is being initiated.

Quote By

After the security code is specified, the manner in which the security is quoted (whether Units or Nominal) is picked up and displayed in the Quote By field. Depending on the quotation method used, you can specify the quantity of securities to be transferred.

If the manner in which the security is quoted is units, enter the number of units to be transferred. If the quotation method used is Nominal enter the amount of securities to be transferred.

Transaction Date

This by default is the System Date / Current date on which the transaction is being entered and cannot be changed. By default action date and the trade date will be the same.

Quantity

If the manner in which the security is quoted is Units enter the number of units to be transferred. If the quotation method used is Nominal enter the amount of securities to be transferred.

Trade Date

This by default is the System Date / Current Date but can be changed as applicable. This will be the date on which the trade is input.

Settlement Date

Enter the date on which the securities transfer is to take place. This date can either be today’s date or a date in the future.

Portfolio

Every portfolio that you define in the Portfolio Definition screen would involve a product that you have already defined. You can specify the portfolio associated with the particular product.

Once you specify the product portfolio, the counterparty details are picked up by the system and displayed in the adjacent fields.

Counter Party

The counterparty name or details is displayed based on the Portfolio Id selected.

24.1.2 Specifying the SK locations and accounts

As part of the general maintenance for the Securities module of Oracle FLEXCUBE you can define various SK locations. The securities can be lodged or withdrawn or bought into or sold from the SK locations as and when they are traded with. In addition to maintaining SK locations you need to define SK accounts for each of the locations maintained.

The codes assigned to SK locations and SK account in the SK Location Maintenance screen, are picked up and displayed in this screen. Therefore while transferring a specified quantity of securities from one SK location to another, you have to indicate the SK location code from which securities are to be withdrawn and the location where they are to be lodged.

In addition, you are also required to indicate the accounts from and to which securities are to be transferred. You can do this by entering details in the Transfer From and Transfer To fields.

You can transfer a specified quantity of securities from one account to another within an SK location. Indicate the SK location code in the Transfer From field and specify the account from and to which the securities are to be transferred.

Form Type

When you change the form type of a security, from Immobilized to Dematerialized, you can initiate a securities transfer. The transfer of securities can either be across SK locations, it can be from one account to another in the same SK location, or it can be from one form to another.

24.2 Moving on to the Other Screens

In the Transfer across SK locations screen are displayed a vertical array of icons. By invoking these icons you will be able to define the other attributes of the Securities transfer you are initiating.

To select a screen, click on an icon from the group of icons displayed. For instance, if you want to define leg events accounting entries and overrides, click ‘Events’ button. The corresponding screen will be displayed.

The icons together with a brief description of the functions they perform are detailed below:

Icons	Description
Settlement	Click on this button to enter the settlement message details. You can spec­ify details such as: The accounts to be debited for charges. The method in which the transfer is to be settled whether it is an instrument ( as in a check or a demand draft) or a message (as in SWIFT or mail mes­sage). Details about the parties involved in the transfer.
MIS	Click on this button to enter the transaction MIS details.
Advices	Click on this button to enter the leg advices. You can view, suppress and prioritise the advices that are to be generated for each leg of the deal.
ICCF	Click on this button to view the charge details associated with the product. You are allowed to amend the charge amount and if necessary waive the application.
Tax	Click on this button to view the transaction tax details. In addition to chang­ing the tax amount you can also waive the application.
Parties	Click on this button to enter details of parties and party narratives.