4.14 Product Code - FXN2
FXN2– NDF (FX NDF Deal)
Business Scenario
This financial product that is, NDF helps customers/corporate to Purchase/Sale the Banned Foreign Exchange Currencies at Forward (Future) Market.
Targeted Customer Segment: Corporate Clients who seek spot Foreign Currency Buy/Sell
Introduction
NDF Forward Product FXN2 is used for Fixing the NDF Forward Deal.
- Fixing Date - Date at which Fixing Deal is booked.
- NDF Currency- Currency in this settlement not done.
Synopsis (ex. High level features etc.)
- NDF Fixing Product is used for Fix the NDF Forward Purchase/Sale Deal.
- NDF Fixing deal normally booked 2 days prior to the settlement date of the NDF Forward deal.
- No settlement process happens for the NDF Fixing Deal.
- Customers of both type types that is, retail customers and corporate might be covered under this product.
- It may/may not involve insistence of Limit.
Detailed Coverage
Product FXN2 covers the following features:
- Booking of Deal
- Settlement Message
- Payment Settlement
- Settlements
- Conventional
- Continuous Linked Settlement
Events Covered
Product FXN2 has the Life Cycle as listed below:
Table 4-21 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 deal modification. |
SGEN | Settlement Message Generation. |
REVP | Payment Reversal is processed under this event |
REVR | Contract Reversal is processed under this event |
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. |
Generic Features
NDF Fixing Product FXN2 features include:
- Booking Deal (Fixing NDF Forward Deal)
- Unfixing of the Deal
- 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 of the Spot Product FXN2 are as below:
- Capturing of Charge details
- Limit Tracking
- 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 Spot Deal Product FXN2:
- Confirmation Advice Confirmation
- Contract Reversal
- Deal Slip
Messages
Following below are the messages supported for the Cash deal Product FXN2:
Table 4-22 Special Features
SWIFT Messages | Contract Field |
---|---|
MT 300 | Confirmation, Amendment, Reverse |
MT 304 | T-Copy Settlement |
MT 940/ MT 950 | Account Statement |
Parent topic: Product Catalog - Treasury – Foreign Exchange