The following are the key options in the Open Interest Rate Swap panel. You can use this panel to book open trades for interest rate swaps. Note options may vary according to your selections.
Option | Tag | Description |
|---|---|---|
Entity Information |
Entity ID | 1163 | Specifies the unique identifier of the entity. |
Entity Name | 1164 | Specifies the name of the entity. |
Accounting Basis | 21 | Specifies the accounting basis. |
Base Currency | 86 | Displays the base currency of the entity. |
Issue Information |
Trade Date | 35 | Specifies the effective date of the trade. The trade date cannot be greater than the post date, accounting date, or settlement date. |
Accounting Date | 36 | Specifies the date the trade is reported and has an effect on the entity's holdings and cash balances. The accounting date must be greater than the trade date. |
Monthly Accounting Date | 4733 | Displays the month end accounting date. |
Settlement Date | 37 | Specifies the date the trade is settled. |
Event Type | 55 | Specifies the business intent of the transaction. |
Long/Short Indicator | 2284 | Indicates whether the interest rate swap position is long or short. Options include:
|
Long/Short Indicator | 15 | Displays a value of LONG or SHORT for the swap contract and each leg. When the Long/Short Indicator field (tag 2284) in the upper pane has a value of Long, the Long/Short Indicator (tag 15) in the lower pane identifies the swap contract as Long, the pay leg as Short, and the receive leg as Long. If you set the Long/Short Indicator field (tag 2284) in the upper pane to Short, the Long/Short Indicator (tag 15) in the lower pane identifies the swap contract as Short, the pay leg as Long, and the receive leg as Short. |
Primary Asset ID | 14 | Specifies the primary asset identifier. |
Swap Type | 4590 | Indicates if the asset is a pay leg, receive leg, or contract. |
Issue Name | 961 | Displays the name of the security. |
Cross Reference ID | 1233 | Displays the cross reference identifier associated with the security. |
Clearing Broker | 1236 | Specifies the name of the clearing broker if different from the trade broker. When you book a trade in an entity that uses derivative segregation, you must specify the trade's clearing broker where available. |
If you use derivative segregation with cash segregation, the lookup shows clearing brokers associated with bank account relationships that have a relationship type of Entity & Clearing Broker Relationship. When you segregate derivatives, the system uses the clearing broker as an additional position-level criteria to establish uniqueness and drive the method of segregation. For interest rate swaps, when you use derivative segregation the system can segregate exchange cleared swaps but does not segregate bilateral, or uncleared, swaps. | ||
Clearing Broker Code | 1237 | Specifies the code for the clearing broker. |
Instrument Type | 11 | Displays the instrument type. |
Security Type | 82 | Displays the security type of the asset. |
Processing Security Type | 3931 | Displays processing security type. |
Issue Currency | 85 | Displays the local currency of the security. |
Maturity Date | 38 | Displays the date the final principal payment is due on the security. |
Coupon Rate | 70 | Displays the rate at which the security accrues interest. It is expressed as an annual rate. |
Lot Level Dated Date | 4411 | Displays the lot level dated date. |
Cleared Security | 5027 | Indicates whether the contract level security is an exchange cleared swap. An exchange cleared swap is an over the counter derivative cleared through a central exchange. Options include:
|
Variation Margin | 4533 | Indicates whether the system calculates a variation margin for the security. If the Cleared Security field display a value of Yes, the Variation Margin field displays a value of Yes, and the system calculates a variation margin for the security. After you book a trade for the swap, you must calculate and approve the variation margin. See the Calculate and Approve Variation Margin section for more information. If the Cleared Security field does not display a value of Yes, the Variation Margin field appears blank, and the system does not calculate a variation margin for the security. |
Accounting Information |
Select Values to be Calculated by STAR | 7000 | Determines whether the system automatically calculates the trade data or allows you to enter it manually. Options include:
NOTE: If you want to enter traded interest (tag 49) from a trading system or have zero traded interest, select Calculate None. |
Accrual Method | 1184 | Displays the accrual method that the system uses to post interest accruals and dividends for the swap. For example, Income/Expense or Unrealized. |
Data Entry Method | 10485 | Determines the data entry method. Options include:
|
Notional Principal Value | 40 | Displays the notional of the interest rate swap. |
Price | 160 | Specifies the price of the security per unit. You can enter a trade price if the Data Entry Method field has a value of Enter Price. |
Total Traded Interest Local | 7351 | Displays the initial interest bought or sold, as calculated from the dated date or last coupon date. |
Total Settlement Amount Local | 4404 | Specifies the settlement amount if the trade ticket does not include a price. This field appears if you set the Data Entry Method field to Enter Settlement Amount. For open trades, a positive amount creates a cash payable. A negative amount creates a cash receivable. For close trades, a positive amount creates a cash receivable. A negative amount creates a cash payable. After you enter a value, the panel displays the principal based on the settlement amount less the traded interest. |
Total Principal | 7354 | Displays the total principal. |
Comm Amt L | 7355 | Specifies the amount of the commission per trade in the local currency for the contract. This field appears if the Data Entry Method field has a value of Enter Price. |
Other Fee Local | 7356 | Specifies any additional fees on the transaction in the local currency for the contract. This field appears if the Data Entry Method field has a value of Enter Price. |
Comm Amt L | 47 | Displays the amount of the commission per trade in the local currency for the contract in the lower pane. This value reflects the Comm Amt L field (tag 7355) value entered in the upper pane. |
Other Fee Local | 3752 | Displays any additional fees on the transaction in the local currency for the contract. This value reflects the Other Fee Local field (tag 7356) value entered in the upper pane. |
Total Local Net Amount | 7353 | Displays total local net amount. |
Settlement Currency | 63 | Specifies the currency in which the security is settled. |
Settlement Net Amount | 64 | Displays the actual settled amount of the trade. The value must not be equal to zero. |
Transaction Fee Information |
Commission Settlement Date | 7560 | Displays the commission settlement date for the swap contract in the lower pane. This value reflects the Commission Settlement Date field (tag 7560) value entered in the upper pane. If a date is specified, a traded cash record is created for the commission. The transactions fees are expensed on the ledger. |
Other Fee Settlement Date | 7561 | Displays the other fee settlement date for the swap contract in the lower pane. This value reflects the Other Fee Settlement Date field (tag 7561) value entered in the upper pane. If a date is specified, a traded cash record is created for the other fees. The transactions fees are expensed on the ledger. |
Commission Settlement Date | 11579 | Specifies the commission settlement date for the swap contract. If a date is specified, a traded cash record is created for the commission. The transactions fees are expensed on the ledger. |
Other Fee Settlement Date | 9357 | Specifies the other fee settlement date for the swap contract. If a date is specified, a traded cash record is created for the other fees. The transactions fees are expensed on the ledger. |
Settlement Information |
Auto Settle Trade Indicator | 58 | Indicates whether the system settles the trade, coupon, and miscellaneous income and expenses automatically. If the entity's Auto Settle Indicator field is set to Yes, as specified on the Create/Edit Entity or Create Master Setup panels, the system creates a settlement when the trade is processed. There is no trade to settle date gain/loss. This applies even if the settlement date is in the future. Eagle recommends that you set the Auto Settle Indicator field to No for the entity and trade panels. Options include:
|
Broker Name | 1235 | Specifies the name of the primary broker. |
Broker Code | 88 | Specifies the code that represents the broker. |
Custodian Bank Name | 1146 | Specifies the name of the custodian bank responsible for the trade. If the trade applies to an entity where you use derivative segregation and cash segregation, the custodian fields do not appear. NOTE: You must establish a relationship between the custodian bank and your entity prior to booking the trade. |
Custodian Bank Code | 1240 | Specifies the code of the custodian bank. |
Custody Bank Account Number | 1660 | Specifies the custodian bank primary account number. |
Custody Bank Subaccount | 1661 | Displays the custodian bank subaccount number. |
Bank Alias | 16 | Displays the bank account relationship instance number. |
Settle Instructions 1 | 1897 | Allows you to add settlement notes. |
Settle Instructions 2 | 1898 | Allows you to add settlement notes. |
Settle Instructions 3 | 1899 | Allows you to add settlement notes. |
Settle Instructions 4 | 1900 | Allows you to add settlement notes. |
Settle Location | 43 | Specifies the location in which the trade is settled. |
Other Information |
Derivative Elections | 56 | Specifies the type of derivative. Options include:
|
Trade Ticket Number | 761 | Contains the trade ticket identification number. The system uses it during processing. For example, IDLOT close or cancel events use this number to locate an open lot. |
Manager | 3718 | Identifies the manager. |
Strategy | 3722 | Specifies the trade investment strategy identifier. |
Counterparty Name | 1173 | Specifies the counterparty name. |
Counterparty Name ID | 1144 | Specifies the counterparty name identifier. |
Holding Term | 9091 | Specifies the holding term for the trade based on the number of days between the original acquisition date (tag 216) and the maturity date (tag 35) on the lot. If you use ledger reporting based on ledger granularity rules to break out accounts by holding term, the system uses this value to identify the holding term for trades related to bonds and preferred stocks. Eagle Accounting's core transaction processing calculates the holding term for you, but you can manually override the value displayed in this field. Eagle Insurance clients that use ledger granularity rules have the system calculate the holding term based on the schedule associated with a lot. Options include:
|
Regulatory Intent | 8915 | If you now hold the trade in an entity/accounting basis with the new International Financial Reporting Standards (IFRS) regulatory category of Fair Value Profit Loss (FVPL) but previously held the trade in an entity/accounting basis with the old regulatory category of Fair Value Option (FVO) or Held for Trading (HFT), you can identify the old regulatory category specified for the trade at the entity/accounting basis level. You can specify a value for reporting purposes only. Options include:
|
User Defined Priority | 2862 | Specifies the user generated number that determines the event sub priority. That is, after the system accounts for the event sequence and corporate action sequence. |