3.32 Completing Transaction

This topic provides information on Completing Transaction details.

A transaction is deemed as complete only after it is settled and the required KYC documents have been received from the investor, both at the unit holder level and at the transaction level.

Redemption and Switch Out transactions are allowed even if the linked subscription transactions are not complete. However, payment will not be allowed. If Redemption and Switch out transactions are settled and all the required KYC documents have been received, Completion of linked Subscription triggers the Completion of the Redemption or Switch out transaction.

A transaction can be redeemed or switched out only if the KYC/AML checks have been completed for the linked inflow transaction.

Completion is possible for IPO subscription, subscription, redemption, switch and transfer transactions.

Completion of a transaction is possible only under the following circumstances:

• Transaction has been allotted
• All the payments linked with the transaction are settled
• All KYC documents have been received from the investor at the unit holder level and at the transaction level.
• Transaction is confirmed in case of redemptions
• Linked inflow transaction is Complete in case of redemptions or switch out transactions.

You can perform the completion operation as follows:

• In the main menu, invoke the Transaction Input menu. For the required transaction type, choose the Summary option. The Transaction Summary screen is opened.
• In the Operation field, select the Completion option from the drop-down list.
• You can only complete records of transactions that have been allotted. Accordingly, the Status field is defaulted with Allotted and you are not allowed to change this.
• To retrieve the transaction that is to be completed, specify any or all of the details of the transaction in the corresponding fields on the screen. All allotted transactions with the specified details are retrieved and displayed in the lower portion of the screen.
• To complete any single transaction that has been retrieved,
  • In the displayed list, select the row of the transaction number and specify the date of completion in the Completion Date field.
  • Check the Complete checkbox. Then click the Complete Transaction button to complete the operation.

Note:

The completion date that you specify here should be less than or equal to the application date and should be greater than or equal to the transaction date, allocation date and the settlement date of the transaction.

In case the KYC list is incomplete for an unsettled transaction, Completion date is updated on settlement. A settled transaction can be marked as Completed only after marking that all the requested KYC documents have been received.

If your installation has not requested for KYC checks, then the transaction will be automatically marked as completed in the following cases:

• Allocation happens before clearing/settlement – In this case, during clearing, the transaction is marked as Completed and the Completion date is defaulted with the Clearing date.
• Allocation happens after clearing – In this case, during allocation, transaction is marked as Completed and Completion date is defaulted with the Allocation date.

In case of Redemption transactions:

• Completion should be done through Confirm Redemption after settling the transaction.
• Completion should be done through Completion option in Transaction Summary screen after marking that all KYC documents have been received.