4.12 Product Code - FFC1

FFC1 – Forward (FX Forward Deal)

Business Scenario

This financial product that is, Forward helps customers/corporate to Purchase/Sale the Foreign Exchange Currencies at Forward (Future) Market.

Targeted Customer Segment: Corporate Clients who seek spot Foreign Currency Buy/Sell

Introduction

Spot product FFC1 is used is used to Buy/Sell the Foreign Exchange Currency at Forward Market. This product is setup for Rebate Revaluation.

Synopsis (ex. High level features etc.)

• Forward Product is used for Purchase/Sale of Foreign Exchange from Forward Market.
• Forward deals are available for maturities from 3 days out to about 2 years.
• Customers of both type types that is, retail customers and corporate could be covered under this product.
• It may/may not involve insistence of Limit.

Detailed Coverage

Product FFC1 covers the following features:

• Booking of Deal
• Settlement Message
• Payment Settlement
• Settlements
  • Conventional
  • Continuous Linked Settlement

Events Covered

Product FFC1 has the Life Cycle as listed below:

Table 4-17 Special Features

Events Covered	Terminology
BOOK	Contract Booking event triggers when Bank Initiate the Deal.
CONF	On Counterparty Confirmation this event will get triggered.
AMND	Contract Amendment event will get triggered on deal modification.
REAS	Reassign User event will get triggered on new User Assign.
SGEN	Settlement Message Generation.
REVP	Payment Reversal is processed under this event
REVR	Contract Reversal is processed under this event
LIQD	Liquidation Event will get triggered on Manual/Auto Payment of the Deal.
CANC	Deal Cancellation event will get triggered on cancellation of the deal.
REVL	Deal Revaluation for the period is accounted under this event.
RRVL	Deal Revaluation Reversal for the previous period is done under this event.

Generic Features

Spot Product FFC1 features include:

• Forward dated Contract booking
• Cross Currency Contract Booking
• Counterparty Confirmation
• Contract Re-assign
• Holiday period treatment
• Capturing of UDE values
• Liquidation of Contract – Auto / Manual
• Cancellation of contract

Special/Other Features

Other Features of the Spot Product FFC1 are as below:

• Capturing of Charge details
• Split Value Date
• Partial Liquidation of the Contract
• Partial Cancellation of Contract
• Limit Tracking
• Currency/Pair Wise Netting - Auto / Manual
• Deal Revaluation
• Option Date
• Multiple Options
• Extension
• CLS Status Change
• CLS Alleged Deal Status Change
• CLS Net Position Check
• CLS Status Change Alert

Advices Supported

Following Below are the advices supported for the Spot Deal Product FSC2:

• Confirmation Advice Confirmation
• Contract Amendment
• Contract Reversal
• Deal Slip

Messages

Following below are the messages supported for the Cash deal Product FSC2:

Table 4-18 Special Features

SWIFT Messages	Contract Field
MT 300	Confirmation, Amendment, Reverse
MT 304	T-Copy Settlement
MT 103/MT 202/MT 205	Payment Message
MT 192/MT 292	Payment Reversal
MT 210	Receive Notice
MT 940/ MT 950	Account Statement