4 Process an Islamic Derivatives Contract

This topic describes how you can maintain the basic information that is necessary for the successful functioning of the module. It includes the maintenance of the following:

• Derivative Types
• Bank and Branch Parameter details
• Revaluation details
• Messaging party details
• Counter Party details
• Profit, Tax and Charge class details

The next step in the process is the creation of products for the Islamic Derivatives module. You can group or categorize contracts, which share broad similarities. You have to associate a derivative type with each of the products that you create. Thus the product inherits all the attributes of the type. You can associate the various profit, charge and tax classes with the product. Under each product that you define, enter specific contracts for this module. By default, a contract inherits the attributes of the product to which it is associated. This means that you do not have to define the attributes that default from the product every time you input a contract involving the product. You can change some of the attributes applicable to the product that you are defining.

This topic has the following sections:

• Maintain the Islamic Derivative Contract Detailed
  This topic provides the systematic instruction to maintain the Islamic Derivative Contract Detailed.
• Reassign contract to another user
  This topic describes the systematic instruction to reassign topics to another user.
• ISDA Confirmation
  This topic describes the details to capture the confirmation check for derivative deal events.