2.1.7.2 Transaction Rules

This topic provides information on transaction rules tab details.

In this section, the following details may be captured:

• The frequency at which the transaction will be processed, and the times, periods and date ranges during which it may be processed.
• The limits on the number of transactions allowed for a unit holder in the fund.
• The volume ranges of the transaction, both in amount and units, and the volumes allowed for specific investor categories in the fund.

1. Click Transaction Processing Rule, click Transaction Rules tab in screen to specify the details.
   The Transaction Rules screen is displayed.

   Figure 2-16 Transaction Rules

   
   

   
   Description of "Figure 2-16 Transaction Rules"

   
   

   For more information on fields in the screen, refer the below table.

2. On Transaction Rules tab, specify the fields.

   For more information on fields in the screen, refer the below table.

   Table 2-29 Transaction Processing Rules - Transaction Rules

   Field	Description
   Start Period	Numeric; 22 Characters; Mandatory Enter a value to specify the Start Period within the frequency mentioned above. Within a particular frequency, you have an option to restrict it to a particular period.
   End Period	Numeric; 22 Characters; Mandatory Enter a value to specify the End Period within the frequency mentioned above. Example Transaction Frequency is WEEKLY, Start Period is 2 and End Period is 5. This means that the Fund is open for this transaction from second day till the fifth day of the week. The End period has to be within the Transaction Frequency i.e., it can take values up to 7 (weekly) and not greater than that.
   Holding Period Applicable?	Mandatory Select Yes in this field to indicate that a lock in period is applicable for the investors investing in a money market mutual fund. If you select this option, then you must specify whether the holding period is to be enforced. This feature is only available if your installation has requested for it.
   Counter	Numeric; 22 Characters; Mandatory Enter a value to specify the total number of transactions to be allowed in this transaction type.
   Enforce Holding Period	Mandatory Select Yes from drop-down list to indicate that the minimum holding period specified for the fund in the Fund Demographics profile must be enforced as mandatory for the transaction type, by selecting this option. This feature is only available if your installation has requested for it.
   Start Time (HH24:MI:SS)	Time (hh: mm format); Mandatory Enter a time to specify the start time for a given working date. On a given day when the fund is open for this transaction, you can start entering transactions from this time.
   End Time (HH24:MI:SS)	Time (hh:mm format); Optional Enter a time to specify the end time for a given working date beyond which you cannot enter any transactions for this transaction type.
   Cut Off Time(HH24:MI)	Time (hh: mm format); Mandatory Specify the time, on a given working day before which a transaction of the selected type will be accepted with the transaction date being the current date. Beyond this time on a working day, the transaction date will be set by default to be the next working date. If electronic order (SWIFT/Upload) is received after cut off time, the system will automatically move to the next business day without displaying any warning message. For SWIFT messages, message creation time to be considered for cut off time validation. A new user maintainable parameter UPLDCUTOFFTIME will be introduced. If turned on and order received date and time is not present in upload file, the system will consider the time of transaction creation as order received time and trade date to be derived. The application server time will be taken into consideration for cut off time determination.
   GO Threshold Units	Numeric; 27 Characters; Optional Specify the Global Order threshold units. If the difference units are more than the threshold units maintained then this will be handled manually. If the difference units falls under the threshold units maintained, the system will automatically rounded off. If the AMC confirmed units are more than that the system has allotted, then system calculates Negative (-ve) differential units. If the AMC confirmed units are less than that the system has allotted, then system calculates Positive (+ve) differential units.
   GO Cutoff Lag(HH24:MI)	Time (hh:mm format); Optional Specify the additional time for the fund cut-off. The cut-off lag/time will be in addition to the cut-off time maintained for the fund for a selected AMC. If a GO has been generated prior to amendment the new cut-off lag will be affected for the next GO generation onwards only. Already generated GO for the day will not be affected. However, if the GO is generated after the amendment, the system will consider the same with latest value. The automated generation of GO will be achieved by using a time based scheduler. A procedure will be enabled to run the time-based scheduler after a predefined time interval say after every 5 minutes or 10 minutes. The time based scheduler will trigger automated Global Order generation process by adding the Cutoff time to the Fund Cut-Off Time. Once GO for a fund is generated the scheduler will mark the Global Order as generated. The cut-off lag will accept any late transaction received in the system after the fund cut-off time and allows additional time before the GO is generated. This functionality is applicable only for Global Orders and not for Trading.
   GO Settlement Lag	Numeric; 22 Characters; Optional Specify the Global Order settlement lag details.
   GO Settlement Lag Calendar	Optional Select the Global Order settlement lag calendar details from the drop-down list. Following are the options available: Actual Calendar System Calendar Fund Calendar
   Applicable Account Types	Alphanumeric; 255 Characters; Optional Select one or more account types for which fund transfer is allowed. If you do not select any particular option, then all account types will be allowed. The validation of this rule will happen during the save of Standing Instruction as well as the different transactions including subscription and redemption.