5.1.4.1 Waiving amendment fees

You are allowed to unlock a record for a specific amendment date and waive amendment fee for one or more trades. Only Waive and Waive All check box are allowed to change during unlock operation. Remaining all fields are view only during unlock and you are not allowed to change fee rate or fee amount once the amendment fee record is saved for a given amendment date.

Example

Amendment fee for trade 1 before amendment - 100

Amendment Date	Fee Amount	Waive
1-May-2015	50.00	No
1-Jun-2015	30.00	No
1-Jul-2015	20.00	No

Amendment fee for trade 1 after amendment.

Amendment Date	Fee Amount	Waive
1-May-2015	50.00	No
1-Jun-2015	30.00	Yes
1-Jul-2015	20.00	No

Amendment fee amount becomes 70 as the fee is waived for trade 1 for the amendment date 1-Jun-2015.

1. Amendment fee is allowed to be waived or un-waived even after the liquidation of amendment fee. In such cases, the residual amendment fee amount is allowed to be liquidated in the existing fee liquidation screen as per the existing functionality.

   Example

   Amendment fee is liquidated for 50.

   Amendment Date	Fee Amount	Waive
   1-May-2015	50.00	No
   1-Jun-2015	30.00	Yes

2. Amendment fee is allowed to be un-waived for 30 and the total amendment fee amount becomes 80. The residual 30 can be liquidated in the Fee Liquidation screen.
3. Amendment fee is allowed to be waived for 50 and the total amendment fee amount becomes 30. The residual (-50) can be liquidated in the Fee Liquidation screen.
4. Currently, amendment fee can be amended or captured in Amendment Fee Input screen for settled and unsettled trades having trade date lesser than or equal to the amendment date and actual settlement date greater than or equal to the amendment date.
   • After settlement, when amendment fee is waived for an amendment date then if the fee amount is in negative; when amendment fee is un-waived for an amendment date then the fee amount is in positive.
   • The differential fee amount can be liquidated in the existing fee liquidated screen.
5. Currently, amendment fee change is not allowed when the trade is captured (but not settled) in Ticket Settlement or Combined Ticket Settlement screen and the payment message is generated at the sub-ticket level (Payment message netting).
   • Since payment message is already generated, if amendment fee is changed before settlement then amendment fee amount during settlement is different than the amount that is sent in PMSG. Hence the fee amendment is blocked in such cases
   • Additionally, waiver or un-waiver also is not allowed in the Amendment Fee Input screen.
6. Currently, modification is allowed in Amendment Fee Input screen for the trades with Par, Distress and Origination desks.
7. All three legs of CLP trades are populated for modification as per the existing functionality. You are allowed to waive any leg (for example, PL trade, par selling/buying from origination) and this should be manually done.
8. You are allowed to close a specific amendment fee record. On save of Close operation, system reduces the amendment fee amount that was applied for the specific amendment date from all the applicable trades.
   Example

   Amendment Date	Fee Amount	Waive	Open
   1-May-2015	50.00	No	Yes
   1-Jul-2015	20.00	No	Yes

   Total amendment fee for trade 1 is 70.

   Amendment Date	Fee Amount	Waive	Open
   1-May-2015	50.00	No	Yes
   1-Jul-2015	20.00	No	No

   Total fee amount becomes 50 as 1-Jul-2015 record is closed.
9. Deletion of amendment fee record is allowed for a specific amendment date before authorization. FAMD event is deleted and fee amount associated with the amendment date is reduced appropriately for each trade.