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Before you process To Be Announced (TBA) trades in Eagle Accounting, you can set up entities or master funds for TBAs.

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In the Create/Edit Entity panel or the Create Master Fund panel, you can specify a value for TBA Cashflow (tag 9406). This field specifies whether a TBA (to be announced) security functions as a buy or sell or nets the difference. Options include:

• No. Default. Do not create cash flows for the open of the TBA tax lot, but create the net cash flow at the close of the position using notional cost. Applicable event types are TBAOPEN and TBACLOSE.

• Yes. Create cash flows for the open of the TBA tax lot using cost. Applicable event types are BUY, SELL, SHORTSELL, and BUYCVR. The TBAOPEN and TBACLOSE event types are also available with this setting, but they will continue to process using notional cost.

In the Book Trade tool, the Open TBA panel includes a field named Create TBA Cashflow (tag 9406). The value you specify at the entity level determines the default value for the trade panel, but you can override it at the trade level.

TBA Netting

In the Create/Edit Entity panel or the Create Master Fund panel, you can specify a value for TBA Netting (tag 18577) starting in V17 R2.48. This field specifies whether long and short TBA trades are held as separate positions or netted into a single position. Options include:

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The table below summarizes the available event types and long/short indicators for each combination of TBA Cashflow and TBA Netting.