Backdated trade processing for fixed income securities can take a significant amount of time to process due to the amount of rollback/replay. The backdated activity can often take several hours to complete, which not only takes a significant amount of system resources to process but can delay other client-related activity as well. For example, TBA allocations can lead to hundreds of backdated trades that rollback and replay months of earnings and paydowns for every transaction. Instead of doing rollback/replay after every trade, Eagle Accounting allows you to perform that rollback and replay once, after all activity has been posted.

You can have the system assign the Bypass Earnings Replay (tag 11793) option to fixed income transactions to have those transactions bypass specific types of accounting processing, such as earnings, during rollback and replay in order to improve system performance. You can then rollback and replay those transactions a single time after all activity is posted.

The transaction's Bypass Earnings Replay field can have the following values:

A. Bypasses earnings processing, along with other processes, to lock down a position.
R. Bypasses earnings processing and corporate actions cash sweeps. Used with TBA Consolidation processing.
Y.

A description of each value follows.

Content on this page:

Set the Bypass Earnings Replay Option to A

If you assign the Bypass Earnings Replay (tag 11793) option for a transaction to a value of A, during transaction processing the system bypasses Earnings processing along with the following accounting functions:

OpenWashSaleAdj
CloseWashSaleAdj
accrueMaster
supplementEventWithEarnProperty
ledgerPeriodForwardBackward
calcVariationMargin
CalculateYield
CalcTradedInterest
setConvBond
supplementEventWithYieldProperty
LedgerPosting_Generate_DRCR_ByRow
CalcTipsIndexRatio
GetPaydownGainloss
SetIncomeRecognitionTag
Not included in this list is the write cursor to the STAR to PACE Delta trigger log. The system also bypasses this log to increase processing speeds. After you run the REACCRUE event, the system populates the STAR to PACE Delta trigger log and subsequently updates the Eagle data warehouse.

Assign Transactions a Value of A

You can have the system set the Bypass Earnings Replay (tag 11793) option to a value of A on transactions if you want Eagle Accounting bypass the Earnings replay during the rollback/replay process. The rollback still occurs, but no income or trades replay ensues, which significantly improves system performance while posting backdated transaction activity. This setting is often used during TBA allocation, because the trade activity involved many backdated trades which rolled back earnings and factors each time during every trade.

The Bypass Earnings Replay field is not available in any accounting trade entry panels. Because each Eagle client who uses this option has their own criteria for assigning this tag to transactions, you can use the Force Add Tags option on the stream to assign this tag a value of A. The Force Add Tags option, available in Message Center Editor's ID RUNPANEL Editor, allows you to add tags on an ad hoc basis without modifying and customizing a panel. .

For audit purposes, the system adds this column to the ESTAR_FINANCIAL_EVENT table once the trades are processed.

Process Transactions Set to A

During transaction processing, Eagle Accounting uses the LAST_VAULT_DATE column on the ESTAR_COST_POSITION table. It sets this column equal to Trade Date minus one of the earliest trade on a position that was booked with Bypass Earnings Replay (tag 11793) set to A. Eagle Accounting uses this date to determine how far it needs to roll back earnings. The system then replays earnings up through the previous EARN_THROUGH_DATE on the ESTAR_COST_POSITION table. You can view the LAST_VAULT_DATE value in Position Viewer for the Cost position, where the value is called PLANSTEP_FUNC_BYPASS_DT (tag 12401). Tt represents the date in which earnings need to be caught up from. It is used only by the Earnings process run through the Reaccrue for Earnings Bypass panel.

The system only bypasses ledger activity for open transactions. It does this because if a backdated close occurred that rolled back several transactions, the ledger postings associated with those rolled back transactions will remain on the ledger. Therefore, the system does not bypass ledger activity for closes and cancels at this time.

You can use the Reaccrue for Earnings Bypass panel, which includes the REACCRUE event, to catch up earnings that the system previously bypassed.

Set the Bypass Earnings Replay Option to R

You can use TBA (to be announced) Consolidation to automate the consolidation, reconciliation, reporting, and cancelling/reprocessing of TBA allocations. The TBA Consolidation workflow addresses performance issues associated with processing high volumes of TBA pool allocations.

When you use TBA Consolidation processing with IWS to process TBA allocations, the system automatically sets the Bypass Earnings Replay (tag 11793) option to a value of R on transactions to have Eagle Accounting not only bypass the Earnings replay during the rollback/replay process, but also to bypass the corporate action sweep event that finds corporate actions in a Released status and processes them. The eagle_default/in/csv/csv_buy.xml and eagle_default/in/csv/csv_sell.xml rules set tag 11793 to a value of R where tag 12874 (Consolidation Flag) is Y or C. To minimize redundant messages and unnecessary engine churn, any custom rules that you set up should include this same logic. Eagle recommends allowing the system to set Bypass Earnings Replay to R when you use TBA Consolidation. However, it is possible to set up the system to assign a value of A instead.

The eagle_wrf_tba_process workflow has the ability to first suppress the Earnings catch-up process, and then (when transactions are successfully processed) to automatically trigger the accrual process through current process center date.

Set the Bypass Earnings Replay Option to Y

You can have the system set the Bypass Earnings Replay (tag 11793) option to a value of Y on transactions. If you use the INCRFEE or DECRFEE event,

Reaccrue after Bypassing Earnings

In the Reaccrue for Earnings Bypass panel, you can perform rollback and replay for earnings processing for transactions that you previously bypassed. When you bypass rollback and replay earnings and other accounting processing for TBA allocations, Eagle Accounting allows you to perform that rollback and replay a single time, after all activity is posted. After you process transactions using the Reaccrue for Earnings Bypass panel, all activity including, but not limited to, ledger postings, warehouse activity, earnings, wash sales, trades, and corporate actions should be the same as if you did not previously bypass accounting processing for those transactions.

You typically use the Reaccrue for Earnings Bypass panel to catch up earnings for transactions that have the Bypass Earnings Replay (tag 11793) option set to a value of A.

To reaccrue after you bypass Earnings processing:

From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator..
Enter Global Process Center in the Start Search text box.
Click the Global Process Center link to access the Global Process Center.
You see the Global Process Center.
Open the Earnings folder in the left navigation pane and select Reaccrue for Earnings Bypass.
You see the Reaccrue for Earnings Bypass panel.
Complete the options on the Reaccrue for Earnings Bypass panel.
Click Submit.
The Global Processing Results frame appears at the bottom of the panel. The Detail tab shows each entity/security that was accrued with a Status of Processed and Event Type of Earn. Otherwise, if the system finds no accruals to process, the system displays a message indicating it produced no loopbacks.

Reaccrue for Earnings Bypass Panel Options

In the Reaccrue for Earnings panel, you can manually rollback and replay the earning process after bypassing the earnings process, along with additional accounting functions. The options may vary according to your selections. The following are the options in the Reaccrue for Earnings panel.

Option	Tag	Description
Accrue
Select Query Option	2283	Determines how to apply the global processing, as follows: One Entity/One Security One Entity/All Securities All Entities/One Security All Entities/All Securities
Entity Information
Entity ID	1163	Specifies the identifier of the entity. It appears when you select One Entity/One Security or One Entity All Securities in the Select Query Option field.
Entity Name	1164	Specifies the name of the entity. It appears when you select One Entity/One Security or One Entity All Securities in the Select Query Option field.
Security Information
Asset ID Type	1432	Specifies the asset identifier type for the security. It appears when you select One Entity/One Security or All Entities/One Security in the Select Query Option field.
Asset ID	364	Specifies the asset identifier for the security. It appears when you select One Entity/One Security or All Entities/One Security in the Select Query Option field.
Issue Name	961	Specifies the name of the security. It appears when you select One Entity/One Security or All Entities/One Security in the Select Query Option field.
Earnings Catch-up Flag	512	Indicates whether the system replays earning up through and including the position's last earn through date. This option determines how far you want the earnings process to replay back through. Options include: Yes. Default. Replays earnings up through, and including, the last earn through date on the position. No. Does not run earnings up through the last earn through date. The system sets the LAST_VAULT_DATE column to NULL. You have to manually catch up earnings. Choosing No most likely indicates that you expect the system to post more trade activity on the position. This creates less work on the engine overall.