3.16.1.3 Derive the Order Received Date and Time

This topic provides the instructions to derive the Order Received Date and Time.

The system will validate the Fund cut off based on the Order received time and not the actual time the Transaction is captured in the system. The transaction date will be derived by the system based on these two fields. For instance, if the Fund Cut off is 14.00 hrs at a Fund level and the transaction is captured at 15.00 hrs in the system with the Order Received time as 13.00 then the system should validate the time maintained at Order Received time and not the time the transaction is actually captured. This will be considered as the same day transaction.

If all the below mentioned transactions are captured on 15-Oct-2012 at 16:00 hrs then the transaction dates will be derived as detailed below. In case the transaction date is amended then the system has to consider the amended transaction date. Post authorisation of the transaction, you cannot amend order received date and time.

Table 3-58 Fund cut off details

Fund Cut off	Order Received Date	Order Received time	Transaction Date
14:00	15-Oct-2012	13:50	15-Oct-2012
14:00	15-Oct-2012	14:10	16-Oct-2012
14:00	14-Oct-2012	13:25	14-Oct-2012
14:00	14-Oct-2012	15:15	15-Oct-2012