8.10 Multiple Affirmation and Confirmation Types

This topic describes the Multiple Affirmation and Confirmation Types

Description of the illustration confirmationafirmationtypemaintenance.jpg

Flag ‘Consider for contract confirmation’ flag is applicable for only Affirmation type of maintenance.

If this flag is checked for an affirmation type and when an affirmation is done for the contract with this affirmation type, then the contract is considered as ‘Confirmed’.

If this flag is unchecked for an affirmation type and an affirmation is done for the contract with this affirmation type, then the contract is considered as ‘Un -Confirmed’.

Validations

When Confirmation and Consider for contract confirmation both are selected

Manual Input of Affirmation for FX contracts

Currently manual confirmation is done by clicking confirmation button from FX contract screen. This functionality will remain unaltered. Only unconfirmed contracts can be confirmed by this method and CONF event is fired on manual confirmation.

Manual confirmations cannot be reversed.

A new field confirmation type is provided in this screen. This field will not be a mandatory field. All Open and authorized types from Confirmation Type maintenance is displayed in this field.

Currently a deal once manually confirmed with either counterparty or broker confirmation details cannot be confirmed again. This condition will remain same.

A confirmed deal can be affirmed again and vice versa.

A screen is provided for maintaining affirmation details. User can affirm / unaffirm deal from this screen. Also waiver/unwaiver of confirmation can also be done from the same screen.

Manual affirmation of MM to be included with SS, events are common on both FX and MM i.e. WAFM, WAUF the various confirmation status of the deal manually:

Table 8-8 Events

Event	Event Description	Remarks
WAFM	Affirmation of a deal	When affirmation status is changed from unaffirmed to Affirmed manually, this event will be fired for the deal.
WAUF	Unaffirm of a deal	When affirmation status is changed from affirmed to Unaffirmed manually, this event will be fired for the deal.
WCNW	Confirmation Waiver	The confirmation waiver status will be by default un waived for a deal. When the Confirmation waiver status is changed from Unwaived to Waived WCNW event is fired.
WUCN	Unmarking of confirmation waiver	When the Confirmation waiver status is changed from Waived to Unwaived WUCN event will be fired.