4.18 Product Code - FFR1
FFR1 – 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 Forward Foreign Currency Buy/Sell.
Introduction
Forward product FFR1 is used to Buy/Sell the Foreign Exchange Currency at Forward Market. This product is setup for Straight Line 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. The maximum period is up to Spot Days of the Currency.(Normally 2 days).
- 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 FFR1 covers the following features:
- Booking of Deal
- Settlement Message
- Payment Settlement
- Settlements
- Conventional
- Continuous Linked Settlement
- Revaluation
- Batch Revaluation – Straight Line
Events Covered
Product FFR1 has the Life Cycle as listed below:
Table 4-29 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 User Assign |
REAS | Reassign user event will get triggered on new User Assign. |
SGEN | Settlement Message Generation. |
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. |
REVP | Payment Reversal is processed under this event |
REVR | Contract Reversal is processed under this event |
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 FFR1 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 TOM Product FFR1 are as below:
- Capturing of Charge details
- Split Value Date
- Partial Liquidation of the Contract
- Partial Cancellation of Contract
- Currency/Pair Wise Netting - Auto / Manual
- Limit Tracking
- 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 TOM Deal Product FFR1
- Confirmation Advice Confirmation
- Contract Amendment
- Contract Reversal
- Deal Slip
Messages
Following below are the messages supported for the Cash deal Product FFR1:
Table 4-30 SWIFT Messages
SWIFT Messages | Contract Field |
---|---|
MT 300 | Confirmation, Amendment, Reverse |
MT 304 | T-Copy Settlement |
MT 192/MT 292 | Payment Reversal |
MT 210 | Receive Notice |
MT 940/ MT 950 | Account Statement |
MT 103/ MT 202/ MT 205 | Payment Message |
Parent topic: Product Catalog - Treasury – Foreign Exchange