Overview

There may be a requirement to shut off accruals for a security or position in Eagle Accounting for market or operational reasons. The most common drivers are going into default, being priced dirty in the market, or having an unsupported accrual calculation.

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This document describes a local workaround that can be implemented to add Debt Default Periods automatically during security creation when the security is created simply by setting Default Indicator (1551) = Yes. The process works when the security is set up via automation with a message or manually in Issue Viewer.

Assumptions

This process will create Debt Default Periods with:

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Securities created in Reference Data Center will not invoke this process.

Implementation

Step 1: Copy Create Debt Default Period Panel to Lookups Folder

The Create Debt Default Period panel (pan-adefaulttype.htm) has logic to change the Event Type (55) between ADD_POS_DEFAULT and ADD_SEC_DEFAULT depending on whether a position-level or security-level record is being added. However, the default Submessage in the panel’s Global Properties, which is also the default Event Type, is ADD_POS_DEFAULT.

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1. Open Web Panel Designer

2. Navigate to eagle > star > reference > Debt Default Periods

3. Right-click Add Debt Default Periods/Inhibit Earnings and select Copy

4. Navigate to eagle > star > LOOKUPS

5. Right-click LOOKUPS and select Paste as

6. Name the panel pan-adefaulttype-sec.htm

7. Open the panel and change to Overlay edit mode

8. Click Global Properties…

9. Change Submessage to ADD_SEC_DEFAULT and click OK

10. You will receive a message asking if you want to change the default value for tag 55

11. Click Yes

12. Save your changes

Step 2: Update Panel for Adding Multi-Leg Swaps

Once we have a panel that can create the appropriate records when called as a lookup, we can add the logic to call that panel from the Multiple Leg Swap panel (pan-addsecmastermultilegswap.htm). There are also tweaks to allow Default Indicator (1551) and Default Date (10142) to be set independently on each leg when creating a swap manually via Issue Viewer. Currently the values are entered on the contract and then propagated down to the legs.

1. Open Web Panel Designer

2. Navigate to eagle > star > reference > Add/List Issue

3. Open Multiple Leg Swap and change to Overlay edit mode

4. Click the …LISTBOX tab

5. Under the Link ID column, locate 3931i

6. In the first Script section, remove L1551 and L10142 from the “Before” line below

   1. Before: IF :4590: != "C" THEN SET(L14,L1432,L38,L1551,L10142,L3997,L3998);

   2. After: IF :4590: != "C" THEN SET(L14,L1432,L38,L3997,L3998);

7. Under the Link ID column, locate 1551i

8. Comment out the whole existing Script section:

   Code Block
   1551i !Script 1551i !Defentry :1551: 1551i !class global 1551i !Text Loop(:vi:, :0:1551:, :0:1551:) [ 1551i !Text Loop(:vl:, :0:1551:, :0:1551:) [ 1551i !Text IF Not(IsEmpty(:vi:)) AND :vi:!=:vl: THEN FORCE(:vl:,:vi:) 1551i !Text ]; 1551i !Text ]; 1551i !End

9. Add this new Script section before the one we just commented out:

   Code Block
   1551i Script 1551i Defentry :1551: 1551i Text IF :1551: = "Y" AND :68: != "" THEN ASSIGN(:10142:,:68:); 1551i End

10. Under the Link ID column, locate 10142i, which should immediately follow 1551i

11. Comment out this whole section:

    Code Block
    10142i !Script 10142i !Defentry :10142: 10142i !class global 10142i !Text Loop(:vi:, :0:10142:, :0:10142:) [ 10142i !Text Loop(:vl:, :0:10142:, :0:10142:) [ 10142i !Text IF Not(IsEmpty(:vi:)) AND :vi:!=:vl: THEN FORCE(:vl:,:vi:) 10142i !Text ]; 10142i !Text ]; 10142i !End

12. Under the Link ID column, locate 7705i

13. Copy and paste the code from the Multiple Leg Swap tab of the attached

    View file
    name Create Security Debt Default Periods Automatically - New Code.xlsx page Add Security Debt Default Periods Automatically space IE

    spreadsheet to the end

14. Save your changes

Step 3: Update Panel for Editing Multi-Leg Swaps

There are separate panels for adding and editing multi-leg swaps. If we want to be able to invoke this process for existing securities, we need to apply similar changes to Edit Multiple Leg Swap (pan-editsecmastermultilegswap.htm).

1. Open Web Panel Designer

2. Navigate to eagle > star > reference > Add/List Issue

3. Open Edit Multiple Leg Swap and change to Overlay edit mode

4. Click the …LISTBOX tab

5. Under the Link ID column, locate 3931i

6. In the fifth Script section, remove L1551 and L10142 from the “Before” line below

   1. Before: IF (RefRow(:vThisRef:)!=1) THEN SET(L14,L1432,L38,L1551,L10142,L3997,L3998);

   2. After: IF (RefRow(:vThisRef:)!=1) THEN SET(L14,L1432,L38,L3997,L3998);

7. Complete items 7-11 from Step 2 above for this panel

8. Under the Link ID column, locate 7705i

9. Copy and paste the code from the Edit Multiple Leg Swap tab of the attached

   View file
   name Create Security Debt Default Periods Automatically - New Code.xlsx page Add Security Debt Default Periods Automatically space IE

   spreadsheet to the end

10. Save your changes