Initiate a Future Value Dated Deal

A ‘future dated’ deal is one that has a Value Date that is later than the date on which it is booked. The Automatic Contract Update function will initiate the deal on the Value Date of the deal during BOD processing.

If there were holiday(s) preceding today, future dated deals that were dated for the holiday(s) will also be initiated if the user has specified that events falling on a holiday must be processed on the next working day.

All the initiation related entries specified for the product, that the deal involves, is passed automatically. If currency conversions are involved, the conversion rates as of today is picked up from the Currency Table.

If for some reason, a deal scheduled for initiation today is not initiated, it is reported in the Exception Report generated during EOD processing.

For a future dated deal falling due today, if there is also a rate change today, the interest amounts are also recalculated for the schedules.