4.7 ISDA Confirmation

This topic describes the details to capture the confirmation check for the OT deal events. Using this ISDA check at deal product level, the trigger of an authorized event at contract level would trigger creation of a record in this screen with details used from the contract.

ISDA confirmations are designed to confirm the terms of a trade and will not have any processing impact for the contract.

ISDA confirmation status is marked as unconfirmed by default and would be manually updated by a user action to confirm once the ISDA confirmation is counter-signed and agreed by both the parties of the trade.

During the processing of the OT contract, a record is available for ISDA confirmation based on the event, if the product has the ISDA confirmation check applicable for that particular event.

1. On the Home page, type OTDISDCO in the text box, and click the next arrow.

   The ISDA Confirmation screen is displayed.

   Figure 4-26 ISDA Confirmation

   
   
   Description of the illustration isda_confirmation.jpg
   
2. On the ISDA Confirmation screen, click Enter Query.
3. Specify the details as per requirement.

   You will have three options:

   • Unlock: This allows you to make changes to the record if the record is not authorized. After Unlock user you will have a option to save the changes.
   • Authorize: This option allows authorization of a record by a user different from the maker of the record.The Authorize sub screen displays same options as the Authorize screens. If a record is unconfirmed and another user is trying to authorize the record then he will get a message Record is not confirmed.
   • Print: This option allows the user to print the record.

   The list of the events below are applicable to ISDA confirmation in OT:

   Table 4-32 ISDA Confirmation - Events

   Events	Description
   AMND	Amendment of Contract
   BOOK	Booking of Contract
   KNIN	Knock In of Currency Option
   KNOT	Knock Out of Currency Option
   RTFX	Rate Fixing
   TERM	Termination of Contract

   For information on fields, refer to the below table

   Table 4-33 ISDA Confirmation - Field Description

   Field	Description
   Contract reference	This is the number assigned in the contract online screen of the respective instrument. This field as non-amendable for a record and mandatory for any query
   Event	This displays the list of events allowed for ISDA confirmation for the product code used in the contract which is non amendable for a record and mandatory for a query.
   Event Sequence	This displays the event seq no. as generated in contract online screen. To be useful for cases where an event is triggered more than once which is non amendable for a record and mandatory for a query.
   Event Description	This displays the description of the non amendable event.
   ISDA Confirmation Date	This field allows you to select the date of the event. Note: By default this is same as system date. This date cannot be more than system date and can be back dated till the Booking date of the contract.
   ISDA confirmation Status	This field allows you to allow the user to select: Confirmed Unconfirmed Note: By default all the records created in this screen are unauthorized and require manual action to confirm the same.

• ISDA Confirm Summary