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Securities Trading
The total nominal for all the brokers for that particular security is summed up and defaulted in the
field TOTAL.NOMINAL. TOTAL.NOMINAL is the same for brokers and customers hence just the
one field. TOTAL.BROKER.AMT may contain charges/commissions hence making it different
from the value in TOTAL.CUST.AMT. TRADE.CCY is defaulted by every transaction that uses
settlement except for POSITION.TRANSFER. CU.NOMINEE is defaulted from the original
transaction if specified on it. TRANS.CODE is the transaction code used by the customer in the
original transaction. BR.NOM.DEL.REF, BR.AMT.DEL.REF, BR.NOM.DEL.REF and
CU.AMT.DEL.REF are reserved for future use when delivery is automated. CU.XRATE.ACY is the
exchange rate between the account currency and the trade currency. This is defaulted from the
original transaction and cannot be changed.
Settlement Process
A nominal settlement is first entered in the field BR.NOM.RECD.DEL. The fields
TOTAL.NOM.SETTLED (for broker) and NOMINAL.TO.SETTLE (for customer) are immediately
updated with this settlement nominal by adding them to the existing value in these fields.
Then the user distributes the nominal settled by the broker among the customers in the field
CU.NOM.RECD.DEL. This updates the field NOMINAL.TO SETTLE by subtracting this nominal
from the value in it.
The total nominal distributed among the portfolios cannot exceed the total nominal settled by the
broker i.e. SUM (CU.NOM.RECD.DEL) must be equal to SUM (BR.NOM.RECD.DEL).
The nominal settled for each customer/broker cannot be greater than the nominal outstanding for
that particular customer/broker i.e. BR.NOM.RECD.DEL <= BR.NOM.OUTSTAND.
The total nominal settled by the broker has to be completely distributed among the customer
portfolios i.e. at the time of commitment the field NOMINAL.TO SETTLE must be equal to zero.
A similar process takes place for the amount settlements. When stock settlement takes place for a
portfolio, if there is any cash to be settled, depending upon the percentage of stock settled for that
portfolio, a corresponding amount is suggested for cash settlement. This suggestion can be ignored.
Reversal
The Reverse function is not allowed in the SC.SETTLEMENT application because it is linked to
the original transaction. However, the users are able to amend the previously authorised
SC.SETTLEMENT record by using the Reverse fields on the file.
A nominal settlement can be reversed using the field BR.REVERSE.NOM. This updates the fields
TOTAL.NOM.REVERSED and NOMINAL.TO.REVERSE. Now you can reverse the nominal
from customer portfolios by using the field CU.REVERSE.NOM. For a broker, you cannot reverse
a nominal greater than the value in the field BR.NOM.SETTLED. For a customer, you cannot
reverse a nominal greater than the value of the CU.NOM.SETTLED. SUM (CU.REVERSE.NOM)
has to be equal to SUM
TEMENOS T24 User Guide Page 34 of 128
Accounting
If the field CASH.HOLD.SETTLE is set to YES in the original transaction, on committing the
record, accounting entries are created in the SC.SETT.ENTRIES and can be seen using ENQ
TEMENOS T24 User Guide Page 35 of 128
Securities Trading
SC.SETT.ENTRIES. When the transaction is authorised STMT.ENTRIES are raised for value the
next working day (or the actual value date should the source transaction have a value date of greater
than the next working day) and posted as forward contingent entries in STMT.ENTRY. Once
settlement has taken place the contingent entries become real ones.
Sec Del Control
If the field SEC.HOLD.SETTLE is not set to YES in the original transaction, then
SEC.DEL.CONTROL is updated as usual. But if actual settlement is requested for stock in the
original transaction i.e. SEC.HOLD.SETTLE is set to YES, then SEC.DEL.CONTROL will not be
updated. The user will instead use the settlement application to perform the actual settlement.
Enquiries
SC.SETT.ENTRIES Unauthorised accounting entries for the outstanding unsettled positions.
SC.UNSETTLED Detailed enquiry for each unsettled transaction. Can be drilled down from
SC.UNSETTLED.CUST SC.UNSETTLED.CUST Unsettled transactions by customer
SC.UNSETTLED.RPT All unsettled transactions
Versions
SC.SETTLEMENT, BROKER Broker details only SC.SETTLEMENT, CUSTOMER Customer
details only SC.SETTLEMENT, FULL For full settlement only
Securities Trading
(BR.REVERSE.NOM). Cash settlements can be reversed in the same way. Settlement and reversal
cannot take place at the same time.
A settlement record cannot be committed or authorised unless it has a settlement or reversal taking
place in it
Updates
When the record is committed, the live files SC.SETTLE.CUST and