4.1 Process Broker Type Detail

This topic provides the systematic instructions to maintain as many addresses as required for a given CIF.

In Oracle FLEXCUBE Investor Servicing, you can create groups of brokers with common characteristics such as the following:
  • Frequencies at which commission payment is received
  • Common consultants
  • Common contact details

These group sets are known as broker types. Therefore, a broker type is a set of characteristics such as commission payment frequencies, common consultants and contact details, which you expect to be common to a group of brokers for whom you want to maintain records in the database.

Broker types are typically relevant in the case of brokerage firms with many individual brokers operating under them. They are also relevant in the case of countries where the tax is different based on the broker type, that is, the tax for an individual broker is different from the tax charged from the corporate broker.

  1. On Home screen, type UTDBRKTY in the text box, and click Next.
    The Broker Type Detail screen is displayed.

    Figure 4-1 Broker Type Detail


    Description of Figure 4-1 follows
    Description of "Figure 4-1 Broker Type Detail"

  2. Specify the following mandatory information to set up a broker type:
    • A code that will uniquely identify the broker type, in the Broker Type field.
    • Descriptive text about the broker type, in the Description field.
    • The ID of the AMC for which the broker type is applicable, in the AMC ID field.
    • The commission payment frequency that would apply to any broker mapped to the broker type, in the Payment Details section. Select either Monthly or Bi-Monthly, as applicable.
  3. Click Save button to save your changes after you have specified these details.
  4. On Broker Type Detail screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 4-1 Broker Type Detail - Field Description

    Field Description
    Basic Information

    The section displays the following fields.
    Broker Type

    Alphanumeric; 6 Characters; Mandatory

    Specify a unique alphanumeric identifier for the broker type.
    Description

    Alphanumeric; 255 Characters; Mandatory

    Specify the description of the broker type.
    Distributor ID

    Alphanumeric; 12 Characters; Mandatory

    Select the ID of the AMC for which you are defining the broker type.
    Distributor

    Display

    The system displays the distributor details for the selected distributor ID.
    Broker Consultant

    Alphanumeric; 40 Characters; Mandatory

    Specify the name of the designated consultant for the broker type.
    Payment Details

    In this section, specify the frequency pattern for the payment of commission to any of the brokers that would be mapped to the broker type.
    Payment Frequency

    Mandatory

    Select whether a monthly or bimonthly frequency of payment is preferred for brokers under this broker type from the drop-down list. The list displays the following values:
    • Monthly Payment
    • Bi-Monthly Payment
    First Payment Date No

    Optional

    If the payment frequency you have indicated for the broker type is Monthly, indicate the date of every month on which the commission payment is to be processed for brokers under this broker type, by choosing the appropriate day of the month from the list.

    If the payment frequency you have indicated for the broker type is Bi-Monthly, indicate the date of every month on which the first commission payment is to be processed for brokers under this broker type, by choosing the appropriate day of the month from the list.

    Second Payment Date No

    Optional

    If the payment frequency you have indicated for the broker type is Bi-Monthly, indicate the date of every month on which the second commission payment is to be processed for brokers under this broker type, by choosing the appropriate day of the month from the list.

    This value must be higher than the one you selected in the First Payment Date No. field.

    Last Working Day

    Optional

    Select if the commission payment for brokers mapped to this broker type must be processed on the last working day of the month from the drop-down list. The list displays the following values:
    • Yes
    • No
    Contact Details

    The section displays the following fields.
    Contact Details

    In this section, specify the means of communication with the main brokerage firm that represents the broker type. You can access this section by clicking the Contact Details link.

    You can specify at least two addresses, and designate one as the default mailing address to be used for correspondence with the brokerage firm, and the other as the alternate address.

    Specify the default address under the Default Address tab, and the alternate address under the Alternate Address tab.

    You can also maintain the SWIFT address for the main brokerage firm of the broker type, in the SWIFT Address tab

    Address Type

    Mandatory

    Select the type of address from the drop-down list. The list displays the following values:
    • Correspondence Address
    • Alternate Address
    • SWIFT Address
    Address Lines 1-2

    Alphanumeric; 80 Characters; Optional (Address Line 1 is Mandatory)

    Specify the postal address that is to be used for correspondence with the main brokerage firm for this broker type.
    City/ Address Line 3

    Alphanumeric; 80 Characters; Optional

    Specify the name of the city of residence of the main brokerage firm for this broker type.
    State/ Address Line 4

    Alphanumeric; 80 Characters; Optional

    Specify the state in which the city of residence of the main brokerage firm for this broker type is located.
    Zip Code

    Alphanumeric; 6 Characters; Optional

    Specify the zip code of the specified city of residence of the main brokerage firm for this broker type.
    Country

    Alphanumeric; 3 Characters; Mandatory

    Select the country in which the main brokerage firm for this broker type is domiciled, from the drop-down list.
    Telephone 1-2

    Alphanumeric; 15 Characters; Optional

    Enter the contact telephone numbers of the main brokerage firm for this broker type.
    Cell Phone Number

    Alphanumeric; 16 Characters; Optional

    Specify the cell phone number of the main brokerage firm for this broker type.
    Fax Number

    Alphanumeric; 15 Characters; Optional

    Enter the fax number of the main brokerage firm for this broker type.
    Email

    Alphanumeric; 60 Characters; Optional

    Specify the E-mail address of the main brokerage firm for this broker type.
    Contact Person

    Alphanumeric; 70 Characters; Optional

    Specify the name of any contact person or official through whom communication with the main brokerage firm is possible.
    Effective From Date

    Date Format; Optional

    Specify the date that marks the beginning of the period for which the specified Correspondence address is valid.
    Effective To Date

    Date Format; Optional

    Specify the date that marks the end of the period for which the specified Correspondence address is valid.
    BIC Code

    Alphanumeric; 12 Characters; Optional

    Specify Bank Identifier Code (BIC) of the main brokerage firm for this broker type.

Parent topic: Entities - Manage Brokers