2.32.1 Processing Emergency Day

THis topic provides information on processing Emergency Day.

The existing date attribute changes will be impacted only if the emergency holiday has been declared for the particular fund if emergency day has been declared other than SYSTEM and Currency. It can be either fund level or AMC level or Fund Country level.

The impacted UT transactions are as follows:

• All unallotted transactions with transaction date as emergency holiday date, the system will update the following attributes:
  • Transaction Date
  • Settlement due date
  • Payment Date
  • Price Date
  • Dealing Date
  • FX Deal date
  • FX Value Date
• For unsettled allotted transactions, the system will update confirmation date, payment date and settlement due date.

Note:

If the settlement due date is greater than or equal to derived date then the settlement due date will not be impacted.

Currency level emergency holiday will impact the Settlement Due Date/ Settlement Date derivation for all the unsettled allotted transactions.

The system changes the date attribute accordingly for the following scenarios:

Settlement Due Date Example

Fund level parameters

Table 2-36 Settlement Due Date Example

Fund ID	Payment Lag	Payment Lag Basis
FUND1	2	Fund Calendar
FUND2	2	Currency Calendar

The following examples shows that the Settlement Due date impact on different Entity Type of emergency level holidays for the above fund level setup:

Table 2-37 Settlement Due Date impact on different entity type of emergency level holidays

Fund ID	Transaction Date	Settlement Due Date	Emergency Day	Emergency Level	New Settlement Due Date
FUND1	2-May-17	4-May-17	3-May-17	Fund	5-May-17
FUND1	2-May-17	4-May-17	3-May-17	Currency	4-May-17
FUND2	2-May-17	4-May-17	3-May-17	Fund	4-May-17
FUND2	2-May-17	4-May-17	3-May-17	Currency	5-May-17
FUND1	2-May-17	4-May-17	4-May-17	Fund	5-May-17
FUND1	2-May-17	4-May-17	4-May-17	Currency	5-May-17
FUND2	2-May-17	4-May-17	4-May-17	Fund	5-May-17
FUND2	2-May-17	4-May-17	4-May-17	Currency	5-May-17

Payment Date Example

Fund level parameters

Table 2-38 Payment Date Example

Fund ID	Transaction Type	Allocation Lag
FUND3	3	1

The following examples shows that the payment date impact on different entity type of emergency level holidays for the above fund level setup:

Table 2-39 Payment Date impact on impact on different entity type of emergency level holidays

Fund ID	Transaction Date	Payment Date	Emergency Day	Emergency Level	New Payment Date
FUND3	2-May-17	3-May-17	3-May-17	Fund	4-May-17
FUND3	2-May-17	3-May-17	3-May-17	Currency	3-May-17
FUND3	2-May-17	3-May-17	3-May-17	System	4-May-17

Confirmation Date Example

When fund is made emergency holiday then the system will confirm the next fund working date after the (allocation date + confirmation lag)

Fund level parameters

Table 2-40 Confirmation Date Example

Fund ID	Confirmation Lag
FUND3	2

The following example shows that the confirmation date impact on different entity type of emergency level holidays for the above fund level setup:

Table 2-41 Confirmation Date impact on different entity type of emergency level holidays

Fund ID	Transaction Date	Allocation Date	Actual Confirmation Date	Emergency Day	Emergency Level	Revised Confirmation Date
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	Fund	5-May-17
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	Currency	5-May-17
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	System	5-May-17
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	Fund	6-May-17
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	Currency	5-May-17
FUND3	2-May-17	3-May-17	5-May-17	5-May-17	System	6-May-17

Entity Commission Payment due date

The system will not process entity commission payment for system level emergency holiday, whereas the system will process for all other emergency holidays.

Broker Commission Payment Date

The system will not process broker commission payment for system level emergency holiday, whereas the system will process for all other emergency holidays.

LEP Transaction Date

The system will move all LEP transactions date to next business day which is common to all the attached funds in that product. The system will move Policy Start Date of policy to next business day which is common to all the attached funds in that product.

Example:

Table 2-42 Example on Policy Date

Policy Number	Rule Effective Date	Policy Start Date
HSPOLICY01	2-May-17	2-May-17

If emergency holiday is declared on 02-MAY-2017 at Fund level for any one of the funds which is attached to the policy HSPOLICY01, then policy date will be next working date of all the funds.

Table 2-43 Example on Policy Date when Emergency holiday declared

Policy Number	Rule Effective Date	Policy Start Date
HSPOLICY01	2-May-17	3-May-17

Dividend Date

Fund dividends with Daily Payments for which Daily Dividends have not been processed, then the system will skip that dividend.

Emergency holiday defined for Fund will be having the following impact:

• If freeze holding is completed, then the system will not move freeze holding date to next business date, Unprocessed dividends declared for the date will be moved to next business day.
• The system will move Payment Date and Reinvestment Date to next business day. Dividend Declare Date and Freeze Holdings Date will be moved to non MMF funds.

Emergency holiday defined for Currency will have following impact:

• For dividend payout operation, if the dividend payment currency is marked as emergency holiday at Currency level then the system will move dividend payment date to next working date in that currency.

If you declare an emergency holiday for the fund, then MMF and non MMF fund dividend attribute changes as follows:

Example 1: Non MMF Fund

Table 2-44 Emergency holiday for the Non MMF fund

Fund ID	Dividend No	Dividend Declare Date	Freeze Holding Date	Payment Date	Reinvestment Date
AFUND1	5	2-May-17	2-May-17	2-May-17	2-May-17

If emergency holiday is declared on 02-MAY-2017 for the fund AFUND1, then dividend attributes will be moved to next business day as follows:

Table 2-45 Emergency holiday for the Non MMF fund with dividend attributes

Fund ID	Dividend No	Dividend Declare Date	Freeze Holding Date	Payment Date	Reinvestment Date
AFUND1	5	3-May-17	3-May-17	3-May-17	3-May-17

Example 2: MMF Fund

Table 2-46 Emergency holiday for the MMF fund

Fund ID	Dividend No	Dividend Declare Date	Freeze Holding Date	Payment Date	Reinvestment Date
MMFFND	575	2-May-17	2-May-17	2-May-17	2-May-17

If emergency holiday is declared on 02-MAY-2017 for the fund MMFFND then dividend attributes will be moved to next business day as follows:

Table 2-47 Emergency holiday for the MMF fund with dividend attributes

Fund ID	Dividend No	Dividend Declare Date	Freeze Holding Date	Payment Date	Reinvestment Date
MMFFND	575	2-May-17	2-May-17	3-May-17	3-May-17