4.2.1 Validations

When you run the auto liquidation process at the Beginning of Day, a contract will be liquidated if:

• It is marked for auto liquidation.
• It is authorized.
• It has not already been liquidated, rolled over or reversed.
• The Value Date of the contract is less than or equal to the current system date

In case a holiday precedes the next working day, those contracts that mature on the holiday will also be liquidated. That is, when you run this function, all contracts with a Value Date between today and the next working day will be liquidated.

However, if the holiday spans a month-end, contracts (to be settled on the holiday, falling in the next month), will be liquidated when you run this process during the Beginning of Day on the first working day after the holiday.