8.10.1 Advices Generated for Value Dated Changes

When creating a product, you can specify the advices that are to be generated when a value dated change is made on contracts involving the product. For a deal involving the product, you can suppress these advices, if you do not want them generated.

The Automatic Contract Update function generates the advices you have specified for the deal as during the beginning of day processes. If the value dated change falls on a holiday, its processing and the generation of the advice is done as per your holiday handling specifications in the Branch Parameters screen.

For example, if you have so specified:

A future dated deal with a value date as of today is initiated, and deal advice is generated for the benefit of the customer. If any component (like discounted interest, tax on principal, etc.) is liquidated on a take down, the advice is generated for each of them.

In case a change entered through the value dated changes function is due today and is executed, advice notifying the customer about the new terms of the deal is generated.

In case a floating/periodic rate that affects a deal has changed, advice notifying the customer of the new rate applicable for the deal is generated.