T24 Forex

TEMENOS EDUCATION CENTRE

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FOREX - Objectives

To Introduce the participants to T24 Forex Module

To Learn about the linkages with core tables including interest,

charges and commissions

To Learn to set up parameter tables connected with this module

To Learn to input, execute and complete different types of Forex deals

To Learn about risk management, accounting and messaging, as

appropriate to this module

To Learn to use reports and enquiries relevant to this module

Forex - Product Overview

Today
Spot
TOM

Spot

Forward
Currency Normal

Forex Single rate

Broker
Precious FX Delivery
Date option Multi rate
metal Internal

Overnight

TOM Next
FX Swap
Spot Next
Forex Dependencies

FOREX Business make use of

CUSTOMER
ACCOUNT

Core dependencies
Delivery
Accounting
Limit

FOREX also uses other static tables

Forex Dependencies - Product Related

Category codes allocated for Forex are 20000 - 20999

Deal types used are SP, FW and SW for Spot, Forward and Forex Swap
respectively
Further transaction types based on these could be specified in
FX.TRANSACTION.TYPE file
FWSR and FWMR are used for Single and Multi rate option deals

Default category code may be specified for each transaction type in

FX.TRANSACTION. TYPE file
Category or deal type of a deal cannot be changed after authorisation

P & L category codes used

For Brokerage and for marketing exchange profit
P & L and Internal account Category codes are defined in
REVALUATION.PARAMETER
20000 for Spot and 20001 for Forward revaluations
Forex Dependencies - Settlement Related

Our Account Pay and Our Account Receive

1.CUSTOMER.SSI
• Input can be Customer / Nostro account,
or internal account
(defined in ACCOUNT.CLASS as
2. AGENCY
SUSPFXDR & SUSPFXCR)
• If no input is made, then the VCN
default mechanism
3. CUSTOMER.CCY.ACCT

4. NOSTRO.ACCOUNT Internal Account

defined in ACCOUNT.CLASS
Forex Dependencies - Currency Related

COUNTRY REGION

HOLIDAY
CURRENCY.PARAM

CURRENCY CURRENCY.MARKET

Possible to indicate Region (s) in the multi value FX.LCL.REGION

Field in FX.PARAMETERS. Accordingly, while inputting a deal, the
intervening holidays for the regions of currencies involved will be
checked for working out the SPOT date / value date.
The Interest Day Basis will be defaulted from Currency table to the
transactions for IN and IH revaluations.
Application Specific Parameters
Forex - Parameter Tables

Parameter tables to be set-up during implementation are

ACCOUNT.CLASS
ACCOUNT.PARAMETER
FX.ACTIVITY
FX.DEAL.METHOD
FX.PARAMETERS
FX.POS.TYPE
FX.REVAL.TYPE
NETTING.PARAMETERS
REVALUATION.PARAMETER
FX.TEXT
FX.TRANSACTION.TYPE
FX.COMM.GROUP
FX.PARAMETERS

Id of the table is FX.PARAMETERS

Spot definition
Spot date is generally 2 working days after the deal date
T24 provides the option of defining SPOT date as Central Bank, Market and
Internal dates.
SPOT.MARKET Field value defaults Spot date at the time of deal input
SPOT.INTERNAL Field value is for internal purpose which is used to
distinguish between Spot and Forward deals
SPOT.CENTRAL.BANK Field value is used for internal reports to classify
deals as Spot or Forward
Permits 0 to 14 business days for all options

Rounding types for FX

Rounding Rules can be specified at parameters level
FX.PARAMETERS

Holiday checking
The holidays of Country and Region set in Company table are checked by
default. If alternate holiday checking is desired then, FX.LCL REGION Field
can be used
In a USD/GBP FX deal, if Spot date or value date buy / sell is not entered, the
system will check Holiday Tables of US and GB

Case 1 US00 and GB00 Case 2 US00 and GB99

Case 3 US01 and GB99
FX.PARAMETERS

Holiday checking
Some Banks and markets operates on the principle that Spot dates should
always fall on a working day in a certain currency, e.g. SGD, even if the
deal does not involve that currency. For this, Spot Base Ccy Field can be
used
In a USD/GBP FX deal, If Spot date or value date buy / sell is not entered, the
system will check Holiday Tables of GB 99, US 02 and SG 00 in such case
Workshop - 1

Deal USD / GBP. Deal date is Monday, the 2nd. Holiday table of
different regions in the system is given below:

Calculate the Spot date for 4 scenarios

Scene 1: No Spot base currency.
Scene 2: Spot base currency is USD and/or GBP.
Scene 3: Spot base currency is CHF.
Scene 4: Spot base currency is CHF and JPY
Workshop - 1 Solution

•Calculation of Spot date for 4 scenarios

*Scene 1: No Spot base currency. Spot date is 6th

*Scene 2: Spot base currency is USD and/or GBP. Spot date is 6th

*Scene 3: Spot base currency is CHF. Spot date is 9th

*Scene 4: Spot base currency is CHF and JPY. Spot date is 9th

or later depending on holiday table of Japan also.

FX.PARAMETERS

Reporting related
DAYS.POST.MATURITY Field specifies after how many days of maturity
contracts are to be removed from live and transferred to history file
1 to 999 days possible. Typical input is 30 so that monthly reports
can include contracts matured during the month without referring to
history
MATURITY.LIST.DAYS Field specifies how many number of days before
the maturity for deals to appear in Forex maturity report
0 to 99 days possible. 0 will not produce maturity report.
Timely information helps organisation to build suitable cover positions
DELIVERY.LIST.DAYS Field contains the no of days before maturity, the
deals with incomplete delivery instructions should appear in Incomplete
delivery instructions report
0 to 99 days possible. 0 will not produce report.
FX.PARAMETERS

Precious metal trading

precious metals trading is possible
Precious metals should have been pre-defined in Currency table as
Precious metal
Currency codes to be mentioned in PRECIOUS.METAL Field

Split value for deals

Possible to give different value dates for buying and selling of currencies
listed in SPLIT.VALUE.CCY Field
If the option is ‘ALL’, then split value deal is permitted for all currencies
FX.PARAMETERS

Bulk deals related

Possible to place a single order to buy / sell currencies based on requests
to sell / buy from several clients

Deal type, value date and currencies would be same for all the deals
covered through a single bulk order. When the bulk order is authorised, it
creates individual orders with default values
10 million EUR is purchased as an inter bank deal and 5 customer deals
are done for selling this aggregate amount
Fields from inter bank deal could be defaulted to customer deals
Currency bought in inter bank deal will be Currency sold in customer deal
and Currency sold in inter bank deal would be Currency bought in
customer deal
FX.PARAMETERS

Bulk deals related

FX Orders and FX deals will be created only if OFS is configured and
appropriate phantom is running
Fields used
DEAL.TYPE to indicate ‘BULK ‘
DFLT.FLT.FRM and DFLT.FLT.TO are multi value Fields for indicating
which field in bulk is to be defaulted to which Field in customer deals
A record in OFS.SOURCE (normally called FX.BULK.OFS) is to
be indicated in BULK.OFS.SRC Field
Suitable versions for Master and child deals should be indicated in
BULK.MASTER.VER and BULK.CHILD.VER Fields

Rounding Rule can be specified in a Field called ROUNDING.RULE

Based on which rounding will be done for the calculated currency amount
FX.COMM.GROUP

While inputting Bulk deals, it is possible to apply different spread over

market rates to different customers automatically by forming groups in
FX.COMM.GROUP

Spread of one group could also be expressed as a percentage of

another group
Group 1 will pay 0.7 and 0.6% of deal rates
Group 2 will pay 50% of what Group 1 pays

FX.COMM.GROUP details are captured in SEC.ACC.MASTER to get

automatic default while inputting bulk deals in Forex
NETTING.PARAMETERS

Payment Netting facility provides automatic netting of payments that

have the same currency and value date for a counterparty with whom
there is a mutually agreed netting agreement

Net amounts are posted to an internal suspense account defined in

ACCOUNT.CLASS as NETTING instead of Nostro
Nett Payments Field in ACCOUNT.PARAMETER should be set to Yes to
specifically allow Netting through internal accounts

NETTING.PARAMETERS is set up to indicate the transaction codes to

be used and also the number of days for creating netting records and
purging them to history
FX.TEXT

When settlement instructions of the counterparty is not known, the

System will credit and debit internal suspense Accounts

FX.TEXT table contains advice texts which will be printed on advices/

confirmations when settlement information in respect of a contract
counterparty is not known
Id of the two records are the Internal suspense account defined in
ACCOUNT.CLASS for SUSPFXDR and SUSPFXCR

Nine Fields are available within this table and each one will have a
unique text which will be printed on the advice confirmation
User will choose which text to print by keying number between 1 and 9 at
the Paying Account / Receiving Account Field while inputting a FX deal.
Forex Revaluation

FOREX module provides daily revaluation of Foreign Exchange

position, producing daily profit / loss for each dealer in each foreign
currency against local currency. Contract wise revaluation can be seen
in POS.TRANSACTION application

SPOT deals are uniformly revalued as mark-to-market

Current cost to close the position

Tom deal can also be revalued , using discounted spot rate

FORWARD deals have choices

Mark-to-Market Method
Rebate
Amortisation Method
Straight-line, Interest, Interest Hedge, Straight Line Funding

For Forex SWAP deals, Spot Leg is treated as Spot Deal and Forward
Leg is treated as Forward Deal
FX.REVAL.TYPE

Different revaluation methods are available that are pre defined in

FX.REVAL.TYPE

There exists five records, one for each revaluation method

Cost to cover method
RB-Rebate
Amortisation methods
IN-Interest
IH-Interest Hedged
SL-Straight Line
SF-Straight Line Funding
Used only for Forex Swap. Possible to raise a forward position
of the premium / discount of a Forex Swap
Forex Revaluation-Mark to Market Methods

Cost to close / cover method has two types of revaluation

(1) Spot and (2) Rebate
Spot method uses the latest available Reval rate, in the absence of Mid
Reval rate of a Currency
Rebate method has the option to re-value FX Forward Deals using RB
Method, at forward rates calculated by adding premium/discount to the
value in REVAL.RATE instead of adding to Mid rate.

Under these methods, the daily revaluation profit / loss is posted to

Profit & Loss on one side and internal accounts on the other side
Forex Revaluation-Amortisation Methods

Under amortisation methods, the total exchange profit / loss is posted

to suitable exchange reserve adjustment accounts defined in
FX.PARAMETERS

This amount is suitably amortised from SPOT date till the life of the
deal by posting entries to profit and loss categories on the one side
(50000 for Loss and 51000 for Profit) and exchange reserve adjustment
accounts on the other side
Rebate Method Principle

For a forward deal, as it ages, the rate to cover the deal converges with
the spot rate as it gets closer to maturity, until it will eventually be
covered at spot rate

Under Rebate method, the revaluation rate is worked out using the
Spot rate from Currency table and the forward premium or discount for
the given period chosen from FORWARD.RATES table

Relevant premium / discount could be arrived either through

interpolation, next available rate or closet rate and is indicated in
REVALUATION.PARAMETER
REVALUATION.PARAMETER

Company-wise rules for revaluing positions

Rules can be set application wise

Relevant here are FX.SP, FX.RB, FX, Forex Swap and AL
POSTING.STYLE Field gives 2 options - Input / Output method and
Adjustment method
REVAL.WITHIN.SP set to yes ,for TOM deal revaluation

Choice of whether system should take Mid rate by default or can chose
Bid or Offer rates, specified in FASB.REVALATION Field
REVALUATION.PARAMETER

Revaluation profits and losses are posted to P & L on one side and
internal accounts on the other side
Option to define, if need be, different Category codes for Profit & Loss,
internal accounts, transaction codes and Product category code for the
entire set of entries as they are passed dealer wise

Option to book revaluation profits available through Field Book Profits.

Losses are always booked unless opted not to book any revaluation entry
through SPOT.REVAL.BOOKING and FWD.REVAL.BOOKING Fields

INTERPOLATION.MKR Field identifies whether forward rates are to be

Interpolated or not in the case of Rebate
'Blank' - Rate will be interpolated
'1' - Takes the next available rate
'2' - Takes the closest rate
FX.DEAL.METHOD

Foreign exchange deals can be done through brokers, or through other

means such as Reuters, Phone, Quotron, Mail etc

This table defines the accepted deal methods within the user’s
environment

This information is used on advices (like Tag 24D in MT 300)

FX.ACTIVITY

Forex module can handle generation of advices for different events.

Advices are produced during close of business

Five possible stages in the life of a deal

Initial input, Amendment, Reversal, Maturity and Takedown

Two types of Counterparties

Bank as predefined in ACCOUNT.CLASS and other Clients

Two types of currencies

Currencies and Precious metal

Each combination of these elements will correspond to an unique

activity code. Hence, 20 different hard coded advice activity codes in
Forex and detailed in FX.ACTIVITY
FX.TRANSACTION.TYPE

This table defines parameters for processing different types of Forex

deals. Values are defaulted to respective types of deals

Id - Any of the basic deal types - SP, FW and SW-or suffixed with 2
additional characters. Forward delivery option as FWXX. This is defaulted
to Forex application in Transaction type

Category Code, Revaluation type, Activity code and message type,

maximum duration for deal, SOD maturity, and option related choices are
also defaulted. Single or multi rate option type and allowing partial delivery
or not in multi rate options

Option for MT 202 messages is available (in addition to standard MT 300)

when the counterparty is Nostro bank
FX.TRANSACTION.TYPE

Allows multiple takedown of option deliveries on the same day and at

different exchange rates

This functionality can be parameterized by setting the Field

OPTION.TYPE in FX.TRANSACTION.TYPE to “EX-MULTI.RATE”.

All the other processes and features of a normal Multi Rate Option
contract remains unchanged
Forex Build Sequence

Mandatory*
1. ACCOUNT.CLASS * Optional
Records
FXCCYPOS, EXCHADJ
SUSPFXDR, SUSPFXCR
RESFWDCR, RESFWDDR
RESSWAPCR, RESSWAPDR
NETTING (Suspense account for netting)
BROKER (Suspense account for
non account holder)
MARKETING (Suspense account for
Non Treasury Dept profit)

2. ACCOUNT.PARAMETER

*
3. FX.ACTIVITY

*
4. FX.DEAL.METHOD
Forex Build Sequence

Mandatory *
*
5. FX.PARAMETERS
Optional

6. FX.POS.TYPE *

7. FX.REVAL.TYPE

8. NETTING.PARAMETERS

* ACCOUNT.CLASS
9. REVALUATION.PARAMETER

10. FX.TEXT *

FX.REVAL.TYPE
11. FX.TRANSACTION.TYPE FX.ACTIVITY

12. FX.COMM.GROUP
Forex-Product features
Product Features

Forex - primary application to process Spot, Forward (with delivery

options) and Forex Swaps

Deal sub-types
Currently 3 types-Normal, Broker and Internal
Product Features

Confirming a trade
All Deals need to be confirmed with the Counterparty. An interface to T24
such as SWIFT for MT300 would need to be in place for automation
Possible to mark deals through Broker as One sided-not requiring any
separate confirmation

After a deal is ‘Input’, T24 updates positions in ‘real time’. Positions are
maintained dealer desk wise, value date wise as pair records.
For a USD / GBP deal, USD and GBP positions are shown separately as
two different records and as per accounting convention

This could be viewed through suitable enquiries

Designed as per business convention or accounting convention
Product Features - Spot

Spot is simultaneous buying and selling of two currencies for prompt

delivery (generally 2 working days)
Today and Tom are by-products and are input by giving suitable delivery
date
Spot rate GBP / USD = 1.5500

For a Spot deal, the following Fields are mandatory

Counterparty customer Id / Mnemonic
Name of Currencies bought and sold and
Two of the three Fields
Amount bought / Amount sold / Spot rate for the deal

Dealers would like to key in only the minimum data. In T24, versions
can be designed to suit work flow
Say, Dealer fills up only Counterparty and Spot rate
Workshop - 2

Use User menu > Treasury Operations > Forex & Money Market Trader
> Front Office > Forex Enquiries > Forex Positions
View Position of USD and GBP

Use User menu > Treasury Operations > Forex & Money Market Trader
> Front Office > Forex Trader > Forex Deals> capture Forex Spot
Deals > choose Forex Spot deal corporate customer
Buy 1 million USD and sell GBP at a spot rate of 1.52
Buy 1 million GBP and sell 1.65 million USD Approve overrides if any

Use User menu > Treasury Operations > Forex & Money Market Trader
> Front Office > Forex Enquiries > Forex Positions
View the Forex Spot Position from GBP & USD
Workshop - 2 Solution
2
1

4
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6
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7 88
Product Features - Base Currency

Base Currency
Deals involve two currencies out of which one is chosen as base currency.
Depending on type of quotation for that currency (Direct or Indirect Quotes)
the bought / sold amounts are arrived at

Default mechanism for Base currency, if not input

Local currency, if the quotation code of other currency is Null (Indirect
quote / Foreign Currency quotation / UK type)
Other currency, if the quotation code is not Null (Direct quote/ Home
currency quotation / Non-UK type)
If both are foreign currencies, currency which yields cross rate greater than
One
Product Features - Value Dates

Possible to give separate value dates for buying and selling (useful
when dealing with middle east currencies where holidays are different)

We can input Today and TOM in the case of Spot deals and Overnight,
TOM next and Spot next in Forex Swap deals by giving suitable input in
the value date Field.

Options available in the Value date Field

T, TO, S,
ON, TN, SN (In Forex SWAPs)
NNA 10D, 3W (working days), 6M
Product Features - Forward

Forward is buying and selling of two currencies for delivery in future,

i.e. at a date later than the locally defined spot date
Forward period calculated from Spot date. Forward rate normally
referenced to Spot rate
3 months forward :GBP / USD = 1.5500 - 0.0150 = 1.5350

For a Forward deal, the following Fields are mandatory

Counterparty customer Id / Mnemonic
Name of Currencies bought and sold and value date
Two of the three fields
Amount bought / Amount sold / Forward rate for the deal
The Forward rate could be input as (1) a rate or (2) Premium / Discount
quoted in Pips, if defined in CURRENCY otherwise with decimal places
Workshop - 3

Use User Menu > Treasury Operations > Forex & Money Market Trader
> Front office > Forex Trader >Forex Deals> capture Forex Forward
Deals > choose Forex Forward deal corporate customer
Buy 1 million USD and Sell GBP 1 Month forward at 1.52
Commit the record
Buy 1 million GBP and Sell USD 2 Months forward with a spread of 0.25
Commit this record and get the first record authorised

Use User Menu > Treasury Operations > Forex & Money Market Trader
> Back Office > Accounting Enquiries > See Forward Entries
Look at the forward entries for the first transaction
Workshop - 3 Solution
2
1
Workshop - 3 Solution

3
Workshop - 3 Solution

4 5

6
Product Features – Forex Swap

Forex Swap is exchange of currencies on one date (usually the spot

date) with an agreement to reverse the transaction at a specified date
and rate, either with the same counterparty or another
E.g. 3 months GBP / USD Forex swap
Near leg Buy / sell SPOT @ 1.55
Far leg Sell / Buy FORWARD @ 1.5350

For a Forex Swap deal, while inputting the Spot leg, Forex Swap Base
Currency Field should be filled up as one of the currency involved in the
deal
On committing Spot leg, the system automatically opens up the second leg
of Forward deal with partial information. The amount in Forex Swap base
currency is retained as no input Field and only the other currency amount
varies as per the Forward rate
Overnight, Tom-Next, Spot-Next, etc. are by-products and are input by
giving suitable delivery dates
Workshop - 4

Use User Menu > Treasury Operations > Forex & Money Market Trader
> Front Office > Forex Trader > Forex Deals> capture Forex swap
Deals > choose Forex swap deal corporate customer

Buy USD 10,000 and sell SGD in spot @ 1.55 with USD as Swap base
currency and forward premium of 0.0015 for 1 month

Commit the record

Workshop - 4 Solution

1
2

1
Workshop - 4 Solution

3
Workshop - 5

Use Admin Menu > Treasury Administration> Forex > Currency

Set the Quotation Pips for Singapore Dollars as 4 in the Currency Record

Use User Menu > Treasury Operations > Forex & Money Market Trader
> Front Office > Input Forex Deals > Input Forex Swap Deal > choose
Forex swap deal corporate customer
Buy USD 10,000 and sell SGD in spot @ 1.55 with USD as Forex Swap
base currency. The forward value is +15 Pips for 1 month

Observe how the exchange rates are formed

Workshop - 5 Solution

1
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4
3
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5
Workshop - 6

Use User Menu > Treasury Operations > Forex & Money Market Trader
> Position Management Enquiries > Forex Position & Break Even
analysis
Look at the position of SGD
Workshop - 6 Solution

1
2
Automatic Defaulting of FX Margin

In Forex Transactions Banks apply a Spread/Margin based on a criteria that

arranges the customers into several groups.

The User can define the margin % as spread in Forex Deals using the existing
framework : Condition Priority, Gen Condition and Group Condition.

Customers or Customer Portfolios can be grouped based on certain conditions

defined in Condition Priority and the values for each of the data elements in
FX.GEN.CONDITION. The Margin applicable for each such group is defined in a
table named ‘FX.GROUP.CONDITION’.

Note: This new feature is essentially for FX deals excluding inter-bank deals from
a business point of view
FX.PARAMETERS
CUS.MARGIN.DEFUALT field in FX.PARAMETERS values to set as Yes or NO
Defaulting Condition Group ID in SAM

If a record corresponding to the SAM customer exists, such as C- xxxx, then the same
is updated in SAM in the ‘FX.GROUP.COND.ID’ field for the portfolio defined in C-
xxxx.

If a specific portfolio meets the group condition based on the CUSTOMER and/or
PORTFOLIO, the ID corresponding to the group condition is updated in SAM.

If a portfolio does not fall into either of the above, the default group is applicable and
the same is updated in the SAM.

Note - If a SAM is present in FX.Deal, it is referred to identify the applicable Condition ID

and the same is defaulted in FX.Deal.
Product Features - Bulk Order

Operational steps :
Details of bulk order are captured in FX.BULK.ORDER
Id FXTYYDDDSSSSS
Account officer, Dealer desk, Deal type (SP, FW), Currencies bought and
sold and value dates
Details of all the counterparties involved like Customer Id, SAM details,
amount bought or sold, settlement account
Orders are placed through FX.ORDER by pooling one or more bulk orders
with same value dates and currency pair
Id FXOYYDDDSSSS
Covering Counterparty, if any, for master deal
Bulk orders covered under this order with customer details defaulted for
child deals. Create records to be set to Yes to create FX Master deal
Master deal in FX in INAU status created if opted in the previous step. If
this is authorised, child deals gets created in INAU which should be
authorised.
Product Features - Payment Netting

Payment Netting
‘Payment Netting’ facility provides automatic netting of payments that has
the same currency and value date for a counterparty
Netting is permitted only when a netting agreement is held with the
counterparty. Net payments must be agreed upon and approved before the
payment is generated
The net amounts are posted to an internal suspense account instead of
Nostro

System Set-up
Category code for Netting suspense are duly defined in ACCOUNT.CLASS
as NETTING record account.
Opening of an internal account under this category
ACCOUNT.PARAMETER is set up to allow Netting
NETTING.PARAMETERS is set up with requisite transaction codes
Product Features - Payment Netting

Payment Netting operational steps

NETTING.AGREEMENT for each customer to be covered

With start and end dates and included / excluded currencies

While inputting FX deals, to indicate Yes in NETTING.STATUS Field.

Details of netted deals are maintained by System in NETTING.ENTRY

With Function Verify, CREATE.NETTING application creates payment

netting records in NETTING in INAU status

In NETTING application, each deal could be confirmed for netting by

indicating Yes in the Netting Field which raises Nostro claim. The excluded
item from Netting of the previous day is available as a new item after COB.
A decision can be taken now or left without any input and authorising. If the
Netting is not authorised as YES, then the Netting suspense Accounts will
be affected on the Value date and NOT the Nostro accounts
Product Features - Others

COB input
New FX contracts can be input during COB provided NS has been installed

SOD maturing
FX deals can be matured at start of day so that customer has access to
funds from a purchased currency and liable for a sold currency at the start
of day on the maturity or value dates

Bullion trading
Possible to input Spot, Forward and Forex Swap deals with metals which
are pre defined in Currency as Precious metals. Ex: XAU / USD
Additional mandatory Fields regarding delivery of metals are Delivered on
CIF basis, available location, metal available is allocated or unallocated,
metal type like Gold, Silver, Platinum, etc.,
Whether delivery is physical or transfer of book entries, metal measurement
quantity like Gram, Ounce, Kilo etc
Product Features - Limit

Special features of Limit relating to FX are Clean risk and Netting of

opposing deals with a counterparty involving same currencies and
value date

Clean risk is never netted

System wide option for netting is indicated in NET.OUTSTANDING Field of

LIMIT.PARAMETER and can be changed only through LIMIT.CHANGE
SWIFT Messages

SWIFT Description Field Name

MT300 Forex confirmation (In case of corrections /
amendments)
Field Corr Amend Mkr with For Tag 22a
choices of Correction or
Amendment
Field Replacing deal No For Tag 21

MT103 Bank Transfer - Client

MT202 Bank Transfer - Bank

MT210 Advice to receive

MT600 Precious metals FX
confirmation
MT604 Fund transfer order for
precious metal
MT605 Fund entry pre-advice for
precious metal
Forex Enquiries

Front office / Position enquiries

Forex Position
Complete details of currency-wise position

Forex Revaluation
Currency wise Un realised Profit / loss due to online revaluation

Spot Deals - Today

Displays list of all spot deals done today for all currencies

Forward Deals - Today

Details of all Forward deals done today

Swap Deals-Today
Details of all Forward deals done today
Forex Enquiries

Accounting enquiries

View Unauthorised Entries

Details of Unauthorised entries are available

View Transaction Entries

Details of all accounting entries passed

View Account Entries

Details of transaction recorded in the account statement

See PL Category Entries

Details of PL category entries

See Forward entries

List of forward entries of a particular transaction reference
Forex Reports

The system also provides comprehensive reporting facilities as

FX.EXCEPTIONS
Exception report showing deals that are not authorised by back office
FX.MATURITY
Maturity list of Contracts
FX.POSITIONS
Forex positions as A/L, Spot and Forward
FX.DELIVERY
Contracts with missing delivery instructions
FX.MATURED.DEL
Contracts that have matured and settled on the day of the report
FX.UNCONFIRMED
Contracts awaiting deal confirmation from broker / counterparty
REVALUATION.DET
Revaluation report of FX contingents with unrealised P/L for each contract
Forex Dependency Diagram

CUSTOMER BASIC.INTEREST FX.PARAMETERS

CATEGORY PERIODIC.INTEREST FX.REVAL.TYPE

ACCOUNT INTEREST.BASIS REVALUATION.PARAMETER

CURRENCY FORWARD.RATES FX.DEAL.METHOD

AGENCY NETTING.PARAMETERS
FT.COMMISSION.TYPE
CUSTOMER.CCY.ACCT
FT.CHARGE.TYPE FX.TRANSACTION.TYPE
NOSTRO.ACCOUNT
ACCOUNT.CLASS
FX.COMM.GROUP Forex
BROKER
SEC.ACC.MASTER
DEALER.DESK
LIMIT
FX.TEXT POS.TRANSACTION
COLLATERAL
FX.ACTIVITY FX.ORDER
DE.MESSAGE FX.HISTORY.TODAY
FX.SETL.TODAY
Summary

You have so far seen the

Dependencies and linkages between Forex module and T24 Core and other
applications

Main business features of the Forex module

Thank You

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