Open Credit Default Swap Panel Options

The following are the options in the Open Credit Default Swap panel. You can use this panel to book open trades for credit default 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.
Account Currency	86	Specifies the account currency.
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.
Effective Date	2857	Specifies the effective date of the trade.
Event Type	55	Specifies the business intent of the transaction.
Long/Short Indicator	15	Specifies whether the position is long (L) or short (S).
Cross Reference Type	1234	Displays the cross reference type associated with the security.
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 for 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 credit default swaps, if you use derivative segregation the system allows you to 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.
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.
Premium Indicator	3302	Displays the premium indicator.
Cleared Security	5027	Indicates whether the security is an exchange cleared swap. An exchange cleared swap is an over the counter derivative cleared through a central exchange. Options include: Yes. The security is an exchange cleared swap. The system calculates variation margin and accrues interest for cleared swaps. The Approve Margin process sums the unapproved margin and interest and creates a traded cash record. Cleared swaps trade with notional cost and do not generate coupons. The system uses the core cost tags to store the notional cost values at the position, open, and close Cost object levels for cleared swaps. No. The security is not an exchange cleared swap.
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 page 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
Buy/Sell Indicator	1364	Indicates whether you are providing credit default protection or receiving credit default protection.
Payable/Receivable Indicator	4590	Displays additional information on credit default protection. For example, Accrue Payable or Accrue Receivable.
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.
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: Traded Interest Calculate None Traded Interest Deferred Income NOTE: If you want to enter traded interest (tag 49) from a trading system or have zero traded interest, select Calculate None.
Accrued Interest Type	3715	Displays the accrued interest type.
Data Entry Method	10485	Determines the data entry method. Options include: Enter Price. Allows you to supply a clean unit price (without payable or receivable accrued interest) in the Price field. If the Cleared Security field displays a value of Yes, the Data Entry Method field displays a value of Enter Price. Enter Total Settlement Amount. Allows you to supply a value representing the total settlement amount. This value can be positive or negative. If you select this option, you must enter a value for the Total Settlement Amount Local field. This value can be positive, which results in a cash payable, or negative, which results in a cash receivable.
Notional Principal Value	40	Represents the notional value of the credit default swap.
Price	45	Specifies the price of the contract. You can enter a trade price if the Data Entry Method field has a value of Enter Price.
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.
Principal	165	Displays the principal amount on the trade.
Commission	47	Specifies the amount of the commission per trade in the local currency. This field appears if the Data Entry Method field has a value of Enter Price.
Other Fee	3752	Specifies any additional fees on the transaction. This field appears if the Data Entry Method field has a value of Enter Price.
Traded Interest	49	Specifies the initial interest bought or sold calculated from the dated date or last coupon date. To enter this data from a trading system or calculate a traded interest of zero, set the Select Values to be Calculated by STAR field to Calculate None.
Local Net Amount	50	Displays the net amount of the trade based on the following formula: Principle + Fees.
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 than zero. If the trade's Settlement Currency field (tag 63) value differs from the security's asset currency displayed in the Issue Currency field (tag 85), you must specify the Settlement Net Amount field value.
Local to Base FX Rate	87	Displays the asset currency to portfolio base currency exchange rate. It is expressed as units of asset currency to one unit of portfolio base currency.
Base Net Amount	478	Displays the base amount of the trade. This amount is calculated based on the following formula: Local Net Amount / Local to Base FX Rate. The value must be greater than zero.
Transaction Fee Information
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. This field appears if the Data Entry Method field has a value of Enter Price.
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. This field appears if the Data Entry Method field has a value of Enter Price.
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 Fund 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: Yes. The system automatically settles the trade, coupon, and miscellaneous income and expenses. The system retrieves the settle date FX rate if the local currency does not equal base and generates a trade to settle date gain/loss. No. Default. The system does not automatically settle the trade, coupon, and miscellaneous income and expenses. You must schedule the settlement for these transactions using the Run Contract Cash global panel. Or, manually settle the transactions using the Run Multiple Settlements panel. If you use cash segregation based on actual cash settlements, you can schedule settlements using the Run Cash Auto Match panel and create settlements manually using Cash Matching.
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.
Cash Account Name	11696	Specifies the name of the cash account for the custodian.
Cash Account Number	11697	Specifies the account number of the cash account for the custodian.
Other Information
Derivative Elections	56	Specifies the type of derivative. Options include: Trade Hedging Effective Hedging Other Income Generation Replication Other
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.
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: Short Term. Identifies a short term holding. If the Holding Term Method field (tag 11479) in the trade's accounting basis has a value of 90 days, a short term holding term is 91 days to a year. If the Holding Term Method field has a value of 3 months, a short term holding term is 3 full months to a year. Cash Equivalent. Identifies a cash equivalent holding. If the Holding Term Method field (tag 11479) in the trade's accounting basis has a value of 90 days, a cash equivalent holding term is 90 days or less. If the Holding Term Method field has a value of 3 months, a cash equivalent holding term is 3 full months or less.
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: Fair Value Option. Indicates the trade was previously held in a regulatory category of Fair Value Option, used for instruments managed on a fair value basis. Held for Trading. Indicates the trade was previously held in a regulatory category of Held for Trading, used for instruments held with the intent of selling them.
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.
Order Number	1092	Specifies the order number of the transaction. This can be the same for multiple lots.