4.2 Product Code - FSB2
FSB2 – Tom (FX Tom Deal)
Business Scenario
This financial product that is, Cash helps customers/Corporate to Purchase/Sale the Foreign Exchange Currencies at Cash Market.
Targeted Customer Segment: Inter Bank Clients who seek Cash Foreign Currency Buy/Sell
Introduction
Cash product FSB2 is used to Buy/Sell the Foreign Exchange Currency at Cash Market. The settlement of the deal is done immediately.
Synopsis (ex. High level features etc.)
- Tom Product is used for Purchase/Sale of Foreign Exchange from Spot Market.
- The maximum period is 2 Days (T+1 Day).
- Customers of both type types that is, retail customers and corporate could be covered under this product.
- It may or may not involve insistence of Limit.
Detailed Coverage
Product FSB2 covers the following features:
- Booking of Deal
- Settlement Message
- Payment Settlement
- Settlements
- Conventional
- Continuous Linked Settlement
Events Covered (including brief information on accounting)
Table 4-3 Events Covered
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 triggers on modifying a deal. |
REAS | Reassign User event will get triggered on new User Assign. |
SGEN | Settlement Message Generation |
CANC | Deal Cancellation event will get triggered on cancellation of the deal. |
LIQD | Liquidation Event will get triggered on Manual/Auto Payment of the Deal |
REVP | Payment Reversal is processed under this event |
REVR | Contract Reversal is processed under this event |
Advices Supported
- Confirmation Advice Confirmation
- Contract Amendment
- Contract Reversal
- Deal Slip
Messages
Following SWIFT Messages setup done in the IDRS product as part of product life cycle.
Table 4-4 SWIFT Messages
SWIFT Messages | Contact 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 |
Generic Features
Cash Product FSB1 features include:
- Deal Booking
- Cross Currency Contract Booking
- Counterparty Confirmation
- Contract Re-assign
- Holiday period treatment
- Capturing of UDE values
- Liquidation of Contract – Auto / Manual
Special/Other Features
Other Features
Other Features of the Cash Product FSB2 are as below:
- Split Value Date
- Partial Liquidation of the Contract
- Partial Cancellation of Contract
- Limit Tracking
- CLS Status Change
- CLS Alleged Deal Status Change
- CLS Net Position Check
- CLS Status Change Alert
Parent topic: Product Catalog - Treasury – Foreign Exchange