5.24.1.1 Automatic rate set for Future Dated Transactions
The future dated events, found in the system for the Rate set events pending to be
processed. The Job automatically initiates online process on the Rate Fixing Date as
soon as the LIBOR Daily rate maintenance is available for the day. The Jobs are
automatically started based on the Auto rate set Job start time
for all the branches. While processing Rate Set Events automatically, the Job skip the
contract and proceed with next contract in the below scenarios:
- Valid Rate Setting Rules not maintained by user
- Rate Code or Rate Effective End Date is not maintained by user
- If Rate Fixing is already done by user manually
- If the contract is not authorized
- If the contract is not in uninitiated status for the new Drawdown
For future dated transactions, Auto Rate Set event is not processed on the rate fixing date, if rate fixing is not done / rate setting rule screen is not visited while capturing the future dated transactions. In addition, User have to visit Rate Setting Rule screen before visiting Rate Fixing screen while capturing the future dated transactions.
If Future dated rate setting events pending to be processed on the same day for multiple
Drawdown under a tranche and if the flag Auto Auth Rate fixing
Required is deselected then
- The system processes the first Drawdown and keep the event unauthorized.
- Subsequent events of other Drawdowns can be marked as failed with the exception as Drawdown 1 under the tranche is unauthorized.
Parent topic: Automatic Rate Set Process