4 Beginning of Day Operations

Before you enter FX transactions in the system, you must perform certain operations referred to as Beginning of Day operations. The following are the Beginning of Day operations that you must perform.

• Maintain the exchange rates for currencies.
• Maintain discount and forward rates.
• Liquidate contracts that are marked for auto liquidation.
• Rollover contracts that have been marked for auto rollover.
• Run the deal level revaluation reversal batch process (only if you have opted for deal level revaluation reversal while defining FX Branch Parameters).

Exchange rate for a currency can be maintained daily in the currency table. The forward and discount rates for a currency are maintained in the Forward Rates and Discounting Rates Maintenance tables, respectively. Forward and Discount rates are maintained daily or monthly. That is, they are maintained as often as you revalue foreign exchange contracts using the Rebate method.

To liquidate and rollover contracts marked for automatic liquidation and rollover, you must invoke the respective procedures from the Application Browser.

This topic has the following sub-topics:

• Forward Rates
  This topic describes the forward rate and discount rates fot the FX contracts.
• Automatic Liquidation of a Contract
  This topic describes the automatic liquidation of a contract and validation of liquidation.
• Description of the function
  This topic provides an overview of the function, split value dates, auto rollover, and retrieve information options.
• Automatic Rollover of a Contract
  This topic describes the automatic rollover feature of a contract and validation of automatic rollover.