3.3 Maintain Contract Specific Forward Profit Rates for Revaluation
This topic provides the systematic instruction to maintain contract specific forward profit rates for a particular contract. You can revalue those contracts whose fair price needs to be determined based on the forward profit rates.
- On the Homepage, type IDDCNRAT in the text box, and click next arrow.
The Islamic Derivatives Revaluation Contract Rates screen is displayed.
Figure 3-4 Islamic Derivatives Revaluation Contract Rates
Description of "Figure 3-4 Islamic Derivatives Revaluation Contract Rates "Note:
For more information on the fields, refer to the table reference given below.
Table 3-3 Islamic Derivative Revaluation Contract Rates
Field Description Contract Reference
Select the Contract Reference from the option list.
This field is mandatory.
Revaluation Date
Select the Revaluation Date by clicking the calendar icon.
This field is mandatory.
Transaction Date
The system displays the Transaction Date.
This field is optional.
User Reference
The system displays the user reference.
This field is optional.
Rate Code
The system displays the rate code.
This field is optional.
Rate Source
The system displays the rate source.
This field is optional.
Profit Revision
Click either Auto or Manual. The system revises profit rates automatically when the daily batch for derivatives is run using the Branch specific Profit rate revaluation method.
This field is optional.
Confirmation
Select the Confirmation check box to confirm that the profit rate entered is correct. The current system date is displayed in the Date field once you select the check box.
This field is optional.
Currency Code
Choose the currency for which you want to maintain the Profit Rate.
This field is mandatory.
Note:
Once you select the Currency Code, the currency description is displayed automatically in the Currency Description field.
Profit Period Start and End Date
Specify the profit period start and end dates for the profits rate you are defining.
These fields are mandatory.
Profit Rate
Enter the profit rate for the particular rate code. The profit rate that you specify here is meant for your branch and is used to determine the Fair Value of all those contracts for which you have indicated that branch level profit rates are to be used for revaluation. Revaluation is done for only those contracts with the particular Rate Code, Rate Source and Currency combination for the particular Revaluation Date.
Note:
To define a new contract rate details record, click add button from the screen and enter the relevant details. To delete an existing contract rate details, click on delete button from the screen.