You can add information for a security with a call, put, sink, custom sink, pre-refund, coupon/reset, PIK receivable mark to market, or ex-interest schedule. The schedule information identifies the security, type of schedule, and schedule effective date. It also includes specialized information based on the schedule type.
For more information on security schedules, see About Schedules for a Security.
To add a schedule:
In the Reference Desk workspace, in the left navigation pane, click Securities.
You see the Securities workspace with all the available securities.Select a security, edit the security details, and then click the Schedule tab.
Click Add Security Data.
You see the Add Schedule dialog box.Select the Schedule Type from the drop-down list. Options include:
– CALL
– CPNRESET
– CSTMSINK
– EXINTSCH
– PIKMTM
– PUT
– REFUND
– SINKBy default the Source Type defaults to gold copy but you can create new vendor data by selecting vendor, and then selecting the corresponding Source.
Click Ok.
You see the Create Schedule panel with specific fields corresponding to the type of schedule you selected.Complete the options on the Create Schedule panel.
Click Save.
The record is saved to the database.
Add Schedule Panel Options
The following are the options in the Add Schedule panel.
Option | Description |
|---|---|
Effective Date | Specifies the effective date of the transaction. |
Price/Rate | Specifies the price/rate. The field appears if you add a schedule for a call, put, refund, coupon/reset. |
Valuation Date | Specifies the date that the system can select and use the underlying price in the calculation of return for the selected total return swap's equity/return leg |
Fixing Date | Specifies the date that the system can select and use the interest rate, that is, the floating rate, in the calculation of return for the selected total return swap's finance leg. The field appears if you add a coupon/reset schedule for a swap leg with a processing security type (PST) of Swap Leg Interest Accrual (SWLEAC). |
Cash Payment Date | Specifies the expected date of the cash payment for the selected total return swap leg. The system calculates the cash payment date by adding any applicable delay days to the payment date, or End Date. The field appears if you add a coupon/reset schedule. |
Reset Date | Specifies the date on which the system can update the notional value/price/interest rate based on change in market condition for the selected total return swap leg. If you select a swap leg with a processing security type (PST) of Swap Leg Total Rate Return on Equity (SWLXEQ), the End Date and the Reset Date must have the same date. The field appears if you add a coupon/reset schedule. |
Schedule Amount | Specifies the amount for the schedule. The field appears if you add a schedule for a sink, custom sink, or PIK receivable mark to market. The Schedule Amount values for a sink schedule add up to 1. For a custom sink schedule, the Schedule Amount values must add up to 1.0, or 100%. However, if you set the Bypass Sink Check option to Yes, the system does not require the Schedule Amount values or payments for the custom sink schedule to add up to 1.0, or 100%. For a PIK receivable mark to market schedule, a nonzero PIKMTM schedule amount is required to post URGL. When you enter the schedule for a coupon period, you can enter the amount as the coupon rate / frequency (that is, .05 / 2 = .025). |
Bypass Sink Check | In the Bypass Sink Check box, indicate whether the system bypasses the sink check, and ignores the restriction that requires the custom sink schedule entries to have Schedule Amount values for payments that total to a value of 1.0, or 100%. Options include: |
Ex Interest Date | Specifies the date that each coupon period begins to trade ex-interest to use for the corresponding effective date in the Ex Interest schedule. If you do not set up an Ex Interest schedule for the security, the system uses the security-level Ex-Interest Days field to identify the ex interest date. |
End Date | Specifies the end date of the specific schedule type. The field appears if you add a coupon/reset schedule or a schedule for a PIK receivable mark to market. For a coupon/reset schedule, the End Date is the reset/payment date, or the contractual day when the payment is due, not including delay days, for the selected total return swap leg. |
Price/Rate | Specifies the price/rate. The field appears if you add a schedule for a call, put, refund, coupon/reset. |
Edit a Schedule
You can edit security schedule data by using the override feature in the Reference Data Center.
To edit a schedule:
In the Reference Desk workspace, click Securities in the left navigation.
You see the Securities workspace with all the available securities.Select a security, edit the security details and then click the Schedule tab.
Select the schedule type to you want to edit and then click Override.
You see the Override fields display.In the Edit Type drop-down field, select one of the following options:
– Add row
– Delete row
– OverrideYou can select a Reason code from the drop-down list and add an Attachment or any Comments.
Update the fields as needed, and then click Apply and Close and then click Save.
The revised record is saved to the database.
Delete a Schedule
In the Schedule Summary screen, you can manually delete a schedule.
To delete a schedule:
In the Schedule Summary screen, select the schedule type record you want to delete.
Click the corresponding X to the left of the record.
You see the message asking you to confirm your selection.Click Yes to delete all the schedule records for that schedule type.
Delete Schedule Details
In the Schedule Details panel, you can manually delete a schedule detail record.
To delete schedule details:
In the Schedule Details screen, select the record you want to delete.
Click the corresponding X to the left of the record.
You see the message asking you to confirm your selection.Click Yes to delete the record.