2.28 Process Holiday Maintenance Detail

This topic provides the systematic instructions to define the weekly holidays and yearly holidays in the holiday calendar for each year.

Different AMCs’ could have different holiday calendars. Further, for funds floated by a single AMC across different locations, the holiday calendar for specific funds could be different from the AMC holiday calendar.

You may, therefore, need to designate holiday calendars separately for the following entities:

• System
• AMC
• Fund
• Currencies

In the system, you designate holidays for any of the above, in the Holiday Maintenance screen. You must first designate the System Calendar, before you designate the other calendars.

The system calendar, once designated, is taken to be the default AMC and fund calendar. You can make appropriate changes, if necessary, for each.

You can use the Holiday Maintenance Detail Screen to:

• View the system holiday calendar for the year
• Designate the system holiday calendar for future years
• Designate a holiday calendar for either an AMC, or a fund, or a currency, or for all, for the year
• Add to the holiday list in the AMC, fund and / or currency calendar
• Make a previously designated holiday a working day in any or all of the calendars

1. On Home screen, type UTDHOLID in the text box, and click Next.
   The Holiday Maintenance Detail screen is displayed.

   Figure 2-39 Holiday Maintenance Detail

   
   

   
   Description of "Figure 2-39 Holiday Maintenance Detail"

   
   
2. On Holiday Maintenance Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 2-28 Holiday Maintenance Detail - Field Description

   Field	Description
   Year	Numeric; 4 Characters; Mandatory The system displays the year. However, you can change the calendar year after specifying the calendar type and entity ID.
   Calendar Type	Alphanumeric; 1 Character; Mandatory Specify the calendar type. The system displays the description in the adjoining field.
   Entity ID	Alphanumeric; 12 Character; Mandatory Specify the entity ID. The system displays the description in the adjoining field.

3. On opening this screen, by default the system holiday calendar for the current year, which was set up at the time of installation, with the designated holiday dates checked off against their respective boxes in each month. You can use the Previous and Next links to navigate between years.
4. Select the day in the calendar and check the box alongside the date to add it to the list of Holidays. Select the day from the list of holidays and uncheck the box alongside it to remove it from the list of Holidays.
5. Click OK button to save your changes.
   The changes must be authorized by another user to be effective in the system.
6. Specify AMC to maintain an AMC holiday calendar in the Calendar Type field, and select the AMC for which the calendar is being maintained, in the AMC field. Similarly, to maintain a fund holiday calendar, specify Fund in the Calendar Type field, and select the fund for which the calendar is being maintained, in the Fund ID field, and the ISIN Code for the fund in the Fund ISIN field.
7. Select Currency option to maintain a currency holiday calendar in the Calendar Type field, and select the currency for which the calendar is being maintained in the Currency Code field.

Guidelines for Holiday Calendars

8. The main system calendar must be maintained as mandatory reference information, before the AMC and fund calendars can be maintained.
9. A separate AMC calendar can only be maintained if the system calendar has already been maintained, and a separate fund calendar can only be maintained if both the AMC and system calendars have already been maintained.
10. The system calendar, once maintained, is replicated to be the AMC calendar as well as the fund calendar for all funds of the AMC. If separate calendars are required for the AMC and for a specific fund, these can be maintained after the system calendar is maintained. Therefore, maintaining the AMC and fund calendars is optional.
11. If separate calendars are maintained, a day can be designated a working day in the AMC calendar only if it is also a working day in the system calendar. A day can be designated a working day in the fund calendar only if it is also a working day in both the AMC as well as system calendars.
12. If a working date in the system calendar is set as a holiday, it takes effect after authorization of the record.
13. When a fund calendar is maintained, the rule effective date of the fund cannot be designated as a holiday. Similarly, when the AMC calendar is maintained, the rule effective date of any of the funds of the AMC cannot be designated as a holiday.
14. If a working day in the system calendar is subsequently designated a system holiday, it must be a holiday in the AMC and fund calendars too, if they have been maintained.
15. The weekend options maintained at the time of installation (i.e., for the system) are reckoned by default to be the weekend options for the AMC calendar; however, you can alter these options when you set up the AMC calendar. Similarly, the AMC calendar weekend options are taken as default options for the fund calendar, and you can alter them when you set up the fund calendar.
    The current system date cannot be set as a holiday.

Effect of Defining Holiday Calendars

16. The effect for all maintenance or transaction input operation is explained in below table.

    Table 2-29 Effect of Defining Holiday Calendars - Field Description

    Field	Description
    Fund Rules	The section displays the following fields.
    Fund Demographics	The Start Date and Rule Effective Dates for a fund must be working days for the AMC or in the system calendar.
    General Operating Rules	The Next Price Date and Maturity Date must be a working day in the system calendar and AMC calendar (if maintained) and the fund calendar (if maintained). For limit order processing, the prior or after rule may be specified.
    Corporate Actions	The First Dividend Declare Date must be a working day in the system calendar and AMC calendar (if maintained) and the fund calendar (if maintained).
    Amendment of Fund Rules	The new (amended) Rule Effective Date for the fund must be a working day in the system calendar and AMC calendar (if maintained) and the fund calendar (if maintained).
    Fund Price	The prices for a fund cannot be entered into the system for a holiday in the system calendar or AMC calendar (if maintained) and the fund calendar (if maintained). If fund prices are being uploaded through bulk upload process, the fund calendar is used to arrive at the Next Price Date.
    Fund Dividend Maintenance	Dividend maintenance for the fund can be done only on working days in the system calendar, AMC calendar (if maintained) and the fund calendar (if maintained). Also, the Freeze Holdings Date and Ex-Dividend NAV Date must also be working days for the system, AMC (if maintained) and the fund (if maintained).
    Specifying transaction sign off on a working day	On a working day for the fund, you can signal the end of transaction input on an ad-hoc basis, if necessary. The transaction date of any transaction that is entered after the sign off status has been marked for the day, will be defaulted to the next working day according to the fund calendar (if maintained) or AMC calendar (if maintained) or the system calendar.