Upload FX subsidiary request to trading station

It is possible to set up rules to automatically send FX subsidiary requests to a trading station for pricing and execution as an external deal. The rules can be based on Amount, Legal entity, Counterparty, Currencies etc. 

It is also possible to define rules for netting of requests to minimize the number of external deals done and to avoid spreads between buy and sell rates. 

1. Open Settings / Request Rules, Tab Request Rules.

2. Enter a "condition expression" if the FX request should be uploaded depending on the deal Amount. 

3. Choose 360T, BloombergFXGO, FXAll or Nordea as "trading station".

4. Select one of the following as "upload request type": 

a. Manually Upload - Add an additional control step and check the deal is correct before it is uploaded to the trading station. All requests are displayed in the "Subsidiary request" view and upload is initiated manually via the view before uploading to the trading station takes place. 

b. Scheduled - Automatically upload all FX requests to the trading station without any check from head quarter. 

c. Priced from market data - The internal FX request is automatically priced from market data and no external deal is executed. The frequency of the pricing is set up in the autopilot.

d. Net - Uses defined rules in tab Request Netting Rules

5. Enter a "selection" to specify which deals to upload.

The example below shows a combination of rules:

• Rule 1 - All deals below EUR 50 000 will automatically be priced with imported market data
• Rule 2 - All deals between EUR 50 000 - EUR 150 000 will be sent to 360T to create external deal and price the FX request
• Rule 3 - All deals above EUR 150 000 need to be checked in Subsidiary request view before the Request is sent to 360T and and external deal is created. 

Request Netting

Define rules for how Request should be netted before uploaded to a trading station.

The netting is done on the following criteria´s: Currency pair, Deal currency, Maturity date, FX Type (FX Spot, FX FWD, FX Swap (Maturity date on both legs)), Counterparty (Internal Bank). The netting can be split further by defining several rules and using the Selection control.

4. Select one of the following as "upload request type": 

a. Net Manually Upload - Add an additional control step and check the Net amount is correct before it is uploaded to the trading station. All requests are displayed in the "Subsidiary request" view and upload is initiated manually via the view before uploading to the trading station takes place. 

b. Scheduled - Automatically upload the Net amount of FX requests to the trading station without any check from head quarter.

It also possible to set amount limits per currency. The limit amount defines the maximum amount for one Netted deal. If the total netted amount is above the limit the system will create several netted deals so that each netted deal is below the limit.

The Tags section is used to define which tags the Netted deal (external deal) should have.

The user must configure in the trading station whether the external deal is executed automatically or if it should be approved first.

The "Upload request status" column in the "Subsidiary Request Ledger" shows how the subsidiary requests will be handled.

It is possible to change the Upload request status with the 'Change request rule status' function.

To apply the defined Netting rules click on the three dots and select 'Run Netting Rules'.

Each netted amount will automatically be assigned a netting group id. Not Netted requests will be shown under group id 'Not Netted Requests'.

In this example two deals are netted to Sell 2 000 (Buy 6 000 and Sell 8 000).

Note! It is possible to use the group Panel function and it is also possible to save the selected grouping. 

When a netted deal is executed in the Trading Station and imported to TS it will price all requests included in the net sum

The ID of the external deal will be shown on the external deal itself and also on all request deals in field External Identifier. The information is seen in tab Advanced on the deals and it is also available as a report column.