15.17.12 Pricing Change Notice

Incoming messages with Message Name as Pricing Change Notice is placed in the Incoming Browser with Processing Status as Pending.

Specify the User ID and Password, logim to Homepage.

From the Homepage, navigate to Markit Incoming Interface Browser screen.

1. From the Markit Incoming Interface Browser screen, click Fee Details.
   The Fee and Margin Details screen is displayed.

   Figure 15-11 Fee and Margin Details

   
   

   
   Description of "Figure 15-11 Fee and Margin Details"

   
   
2. If the External CUSIP/ ISIN in the message is an active Borrower Tranche, the fields in the Incoming Browser are populated with data from the message/tranche contract. If the event date is the same as application date, the system compares the message effective date with event date (notice date). If they are same, the system updates the margin / fee rate for the Tranche as below.
   • The margin rate in the system is compared with the previous margin rate in the message to arrive at the margin component.
   • The fee rate in the system is compared with the previous fee rate in the message to arrive at the fee component. If multiple Fee components are mapped for the same FpML Fee Type (received in the Incoming message) then the component is resolved based on the previous fee rate in the message.

   Seq No	FCC Component	FPML Fee Type
   1	AMENDFEE	AmendmentFee
   2	BRKGEFEE	BreakageFee
   3	MANPYMTS	OtherFee
   4	COM_FLAT	CommitmentFee
   5	FACFEE_FL	FacilityFee
   6	LCFEECOMML	LetterOfCreditFee
   7	LCFEESTDBY	LetterOfCreditFee
   8	LCFEESYNT	LetterOfCreditFee

   If the effective date is current or application date, then the margin/fee rate is applied for the new tranche getting booked. New margin/ rate is propagated to drawdown contracts under the tranche, based on effective date during batch (MRFX event). New fee rate is applied to tranche contracts online (FRFX event).

   The following fields can be enriched by clicking on the ‘Enrich’ button (if the dates fall on holidays).

   • Fee Effective Date
   • Margin effective Date

   The system logs the following exceptions during processing.

   • If the event date is the same as application date system compares the message effective date with event date and if they are not the same the ‘Processing Status’ is marked as ‘Failed’ and an exception is logged.
   • If event date is greater than application date, then the message is considered as an ‘Intent’ message. The Processing Status is updated to ‘Hold’. When application date equals the event date, system updates the Processing Status as ‘Pending’ so that message can be picked for re-processing