Transcript Slide 1

WELCOME
eGAINS Participants
Transitioning to eGAINS
Information Sessions
Hosts:
Futures Industry Association (FIA)
Clearing Corporation (CCorp)
Markit Group
Participants:
eGAINS Users (London, New York, Chicago)
Presentation Schedule (via WebEx)
3:30 – 4:30 p.m. (London time)
I.
Agreements: Transition EGUS to eGAINS (Thursday, April 3; Tuesday, April 8)
II.
Trade Processing: Trade Flow, Layout, Reports (Thursday, April 10; Tuesday, April 15)
III.
Banking: Billing Cycle and Money Flow (Thursday, April 17; Tuesday, April 22)
IV.
Iterations: Implementation Feedback and Enhancements (Thursday, May 1)
On-Site Training Schedule – London
User training sessions shall be conducted in London June 9-13
Details regarding time and location to follow
I. Agreements
Purpose
Transition and Validate EGUS Agreements
and Rates to eGAINS
Fundamental Issue/Question
How does EGUS talk to eGAINS?
II. Trade Processing
Purpose
Examine Exchange Trade Flow, Data
Layout and Position Posting and Report
Generation
Fundamental Issue/Question
How can I validate my trade data?
Agenda
III. Banking
Purpose
Review Billing Cycle, Money Flow, and
Month-End Adjustments
Fundamental Issue/Question
How are pay/collects managed?
• EGUS/eGAINS Agreement and Rate
Uploads (FIA)
o Electronic
o Manual
o Participant Set-up
o Rate Verification
o One-to-One Link: Agreement/Account
#/Rate
• eGAINS Overview (FIA, Markit)
o Role of Systems Providers
o Participating Exchanges
o Settlement Currency
o System Access
o Exhibit Review
• Data Mapping (CCorp)
• Learning Environment Access (CCorp)
• Testing Module (CCorp)
o Trade Load
 Auto Upload
 Manual
o Individualized
• Testing: Phases 1-3 (CCorp)
• Resource Links
• Contacts
Purpose
Provide Update(s) and Solicit Feedback
Fundamental Issue/Question
What is the next step?
Agenda
Agenda
Agenda
Thursday, April 3
Tuesday, April 8
3:30 – 4:30 p.m. (London time)
IV. Next Iteration
Thursday, April 10
Tuesday, April 15
3:30 – 4:30 p.m. (London time)
• Exchange Trade Flow and System
Requirements (CCorp)
o Overview: How does eGAINS work
o Trade Mapping
 Exchange Codes
 Product Codes
 Platform
 Transaction Source Codes
o Deadlines (Agreement Changes and
Maintenance)
• Record Layout–Output Review (CCorp)
o Detailed Character Layout
• Month-End Cycle (FIA)
• Trade Processing (FIA)
o Rates
o Position Reconciliation
o Pay/Collect Reconciliation
• Outputs: Reports, T+1 and Month-end
(CCorp)
o Confirmation / Change Processing
o On-line
o Data Files and Downloads
• Resource Links
• Contacts
Thursday, May 1
Thursday, April 17
Tuesday, April 22
3:30 – 4:30 p.m. (London time)
• Participant Banking Instructions and
Maintenance (FIA)
• Banking Overview and System
Functionality (FIA)
o What is SWIFT?
o Confirmation of Banking Instructions
(mechanics, procedures, and
deadlines)
• Month-End Processing Deadlines (FIA)
• Third Party Billing (FIA and CCorp)
• Managing Accruals (FIA)
• Reports (CCorp)
• Systems Testing (CCorp)
• Participating Firm Summary (Banking)
To-Do List
• Resource Links
• Contacts
3:30 – 4:30 p.m. (London time)
• To Dos - Firm Checklist
• UPDATE: Third Party Relationship
o Front-End (Participant Set Up)
o Back-End
 Reports
 Banking
• FEEDBACK: A Formal Checkpoint
o Agreement, Statement of Intent,
Banking Instructions
o Trade Processing
o Banking
o Testing
o Systems
o Launch
• FUTURE: Industry Enhancements
o FPS Launch (banking) (FIA)
o Participant Wish List (Participants)
o Procedure for adding (new) FX
Settlements (FIA)
o Other Exchange Participants (FIA)
o Reducing the Credit Window (FIA)
• Resource Links
• Help Desk
• Contacts
Session 3. Banking: Billing Cycle, Money Flows and Month-End Adjustments
Purpose
Review the end-of-month billing cycle and procedures for managing position changes and money
flows .
Fundamental Issue/Question
How are pays/collects managed?
Session 3. Banking: Banking: Billing Cycle, Money Flows and Month-End Adjustments
Agenda
•
Participant Banking Instructions and Maintenance (FIA)
•
Banking Overview and System Functionality (FIA)
o What is SWIFT?
o Confirmation of Banking Instructions (mechanics, procedures, and deadlines)
•
Month-End Processing Deadlines (FIA)
•
Third Party Billing (FIA and CCorp)
•
Managing Accruals (FIA)
Session 3. Banking: Banking: Billing Cycle, Money Flows and Month-End Adjustments
Agenda Continued
•
Reports (CCorp)
•
Systems Testing (CCorp)
•
Participating Firm Summary (Banking) To-Do List
•
Resource Links
•
Help Desk
•
Contacts
Participant Banking Instruction and Maintenance (FIA)
The process of automating give-up pays and collects via eGAINS begins with the up-front
documentation – eGAINS Processing Agreement. Further, in order to systemically synchronize pay
and collect transmissions with the banking correspondent , FIA Tech obtained the firms’ Statement of
Intent as well as detailed banking instructions.
To facilitate systems testing, FIA Tech is working closely with the banking correspondent ensuring
firm-provided banking instructions and electronic payment advices generated by the correspondent
flows properly to all banking constituents in advance of the launch.
Banking Overview and System Functionality (FIA)
What is SWIFT?
Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a non-profit organization
comprised of member financial institutions. It is a highly reliable, efficient , and secure system for inter
bank communications and transfer of funds and securities. With respect to the eGAINS banking
relationship, FIA Tech’s banking correspondent acts as an intermediary for transmitting and receiving
SWIFT entries.
SWIFT bridges the gap of global complexities (i.e. diverse clearing systems, banking practices, and
regulations) by standardizing international pays and collects securely and cost effectively.
Banking Overview and System Functionality (FIA) Continued
Confirmation of Banking Instructions (mechanics, procedures, and deadlines)
As previously indicated, FIA Tech provides monthly pay/collect instructions to the banking
correspondent and in turn facilitates fund movements through SWIFT.
Even the correspondent facilitates month-end pays and collects, it is not necessary to establish a bank
account with the institution. However, as a SWIFT facilitator processing pays and collects, the
correspondent must recognize the pay/collect bank and ensure money transfers to and from the
organization. Therefore please provide detailed banking instructions to FIA Tech as soon as possible
– no later than 30 days prior to effective date.
Please be advise of the following processing parameters:
• SWIFT payments will be facilitated through the correspondent – Financial Institution.
Banking ACH Overview and System Functionality (FIA) Continued
• Firms must instruct their bank(s) to release funds to the Financial Institution by completing a 3 rd
Party Debit Authorization Form (typically supplied by your bank and filed by you, the account
holder, with your bank); also known as a Direct Debit Mandate. This is a one-time set-up
authorizing the release of funds.
• Give-up pays and collects are gross not net per participant.
• eGAINS recognizes London bank holidays. FIA Tech will adjust debit and credit dates to the
degree the payment date(s) coincide with a London bank holiday.
Banking Overview and System Functionality (FIA) Continued
Q. As an executing and clearing participant, will eGAINS net my pays and collects?
A.
No. All payments are gross and viewed as unique and distinct transactions. Further, even though
rates within the give-up agreement may be denominated in the same currency at multiple
exchanges, clearing participants are debited on the 17th business day and executing participants
are credited on the 60th business day following the clearing firm debit. Hence the timing of
pay/collects precludes netting.
Banking Overview and System Functionality (FIA) Continued
Q. In the event I’m debited in error, how do I get the problem resolved?
A.
If an erroneous debit (or credit for value other than what was expected) is applied to your bank
account by the banking correspondent (assuming you’ve verified the pay/collect totals against the
eGAINS end-of-month banking reports), please notify your bank and contact FIA Tech to research
and advise.
B.
Q. What is the process for adding additional currencies into the banking model?
A.
Submit a written request to Mary Ann Burns at FIA Tech indicating the currency.
Banking Overview and System Functionality (FIA) Continued
Q. Will eGAINS observe holiday schedules?
A. eGAINS London bank holidays. FIA Tech shall adjust debit and credit dates to the degree the
payment date(s) coincide with a London bank holiday. The dates shall be provided in advance of
the settlement period. This is subject to change as exchanges and currencies are added to
eGAINS.
Month-End Processing Deadlines (FIA)
Month-end processing deadlines include:
Business Day
1st Bus. Day
Activity/Deadline
Complete prior month processing
7th Bus. Day (8 p.m., EST)
Deadline for executing firm to correct/adjust trades
15th Bus. Day (8 p.m., EST)
Deadline for clearing firm to re-accept or reject trades
16th Bus. Day
FIA Tech enters debits into banking system
subject to change based on local clearing cycle requirements
17th Bus. Day
Clearing firms’ accounts are debited; credit float begins
subject to change based on local clearing cycle requirements
Last Bus. Day
Deadline for firms to submit bank changes (names, locations,
accounts)
60 Bus. Day from debit
End of float period (variable)
Third Party Billing (FIA and CCorp)
Third Party Character Layout Map (EGUS to eGAINS)
EGUS and eGAINS provide functionality unique to the give-up process. FIA, CCorp and Markit are
working closely to link processes and map respective characters so as to effectuate third party billing.
Update and specific test scenarios shall be developed to monitor report generation, trade flow, and
notification.
EGUS, Maintain Rate Schedule, Direct Bill
Allows firms to settle give-up payments outside of eGAINS.
EGUS, Initiate Agreement, Bill to Party (Customer, Trader, Clearing Broker)
Customer and Trader results in settlement outside of eGAINS.
EGAINS, Bill to Third Party
Allows firms to settle within eGAINS direct with customer; suppresses fees and rate schedule from
clearing firm view.
Managing Accruals (FIA)
Pay/collect match-off between the participant’s internal ledger (books) to eGAINS is the responsibility
of the participant. eGAINS provides no position or rate reconciliation tool to facilitate an automated
comparison.
Since the credit for executed transitions will not post to the executing firm’s bank account for 60
business days, eGAINS provides end-of-month trade, position, and pay/collect summary reports. The
reports detail the debit and credit amounts FIA Tech shall publish the specific dates to which the
monies shall be credited to or debited from the bank accounts (see following report examples).
Reports (CCorp)
All end of trade day reports (available T+1) as well as month-end, reports shall be available for online
viewing and downloading (ASCII text files). Reports are patterned after GAINS - therefore users,
familiar with the former GAINS report (i.e. GNS00001) content and layout, ought be familiar with
eGAINS report content and layout.
Rate Set Differences Daily Report for Executing Participants
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
GNS00019
CLEARING CORPORATION
MM/DD/YY
GIVE-UP AUTOMATED INVOICING SYSTEM (GAINS)
HH24:MI:SS
RATE SET DIFFERENCES DAILY REPORT FOR EXECUTING PARTICIPANTS
PAGE:No
CUSTOMER NAME:
- XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
CARRY PARTICIPANT:
- XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
EXECUTING PARTICIPANT:
- XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
AGREEMENT NUMBER:
- XXXXXXXXXXXXXXXXXXXXX
==============================YESTERDAY'S RATE SETS (OLD)/TODAY'S RATE SETS (NEW)=================================================
TRAN O TRAN
CUR
OLD/NEW
DATE EXCH COM TYPE C SRC FUT RATE FRT OPT RATE ORT
FEE MIN
FEE MAX CODE
FLAG
===================================================================================================================================
===
XX/XX XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX.XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XX/XX XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX.XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XX/XX XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
XX/XX XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX.XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXX XXX X
X XX XXXXXXXX.XXX
X XXXXXXXX.XXX
X XXXXXXXXXXXX XXXXXXXXXXX XXX
XXX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Trade Detail End of Cycle Report for Executing Participants
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
GNS00005F
CLEARING CORPORATION
MM/DD/YY
GIVE UP AUTOMATED INVOICING SYSTEM (GAINS)
HH24:MI:SS
TRADE DETAIL END OF CYCLE REPORT FOR EXECUTING PARTICIPANTS – FINAL
PAGE: No.
EXECUTING PARTICIPANT: XXXXX - XXXXXXXXXXXXXXXXXX
-----------------------------------------------------------------------------------------------------------------------------P O
B
S
TRADE EX CA
CNTRCT
STRIKE / / ORDER
TRADE TR TR AGRMNT
/ G-U RATE
G-U FEE T
DATE EX EX COM MON YR
PRICE C C NUMBER
PRICE SR TY NUMBER
CUR QTY S
A
-----------------------------------------------------------------------------------------------------------------------------CARRY PARTICIPANT ID: XXXXXX CARRY ACCOUNT: XXXXX
CARRY DISPLAY ACCOUNT: XXXXXX
EX ACCT: XXXXXX
MM/DD XX XX XXX XX XX
XXXXX X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
MM/DD XX XX XXX XX XX
XXXXX X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
SUB TOTAL :
XXXX
XXXXXXX.XX
CARRY PARTICIPANT ID: XXXXXX CARRY ACCOUNT: XXXXX
CARRY DISPLAY ACCOUNT: XXXXXX
EX ACCT: XXXXXX
MM/DD XX XX XXX XX XX
XXXXX X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
MM/DD XX XX XXX XX XX
XXXXX X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
SUB TOTAL :
XXXX
XXXXXXX.XX
TOTALS FOR CARRY PARTICIPANT : XXXXXX
TOTAL REVENUE
: XXX
LESS REJECTED TRADES
: XXX
NET REVENUE
: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
TOTAL REVENUE
LESS REJECTED TRADES
NET REVENUE
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
COMBINED TOTAL REVENUE : XXX
LESS REJECTED TRADES
: XXX
COMBINED TOTAL NET REVENUE:XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
COMBINED TOTAL REVENUE : XXX
LESS REJECTED TRADES
: XXX
COMBINED TOTAL NET REVENUE: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
: XXX
: XXX
: XXX
Trade Detail End of Cycle Report for Carry Participants
•
•
•
•
•
•
•
•
•
•
•
•
•
•
GNS00006F
CLEARING CORPORATION
MM/DD/YY
GIVE UP AUTOMATED INVOICING SYSTEM (GAINS)
HH:MM:SS
TRADE DETAIL END OF CYCLE REPORT FOR CARRY PARTICIPANTS - FINAL
PAGE: No.
CARRY PARTICIPANT: XXXXX - XXXXXXXXXXXXXXXXXX
-----------------------------------------------------------------------------------------------------------------------------P O
B
S
TRADE EX CA
CNTRCT
STRIKE / / ORDER
TRADE TR TR AGRMNT
/ G-U RATE
G-U FEE T
DATE EX EX COM MON YR
PRICE C C NUMBER
PRICE SR TY NUMBER
CUR QTY S
A
-----------------------------------------------------------------------------------------------------------------------------EXECUTING PARTICIPANT ID: XXXXXX
MM/DD XX XX XXX XX XX
XXXXX
MM/DD XX XX XXX XX XX
XXXXX
SUB TOTAL :
EX. ACCOUNT: XXXXX
CARRY DISPLAY ACCOUNT: XXXXXX
CARRY ACCT: XXXXXX
X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
XXXX
•
•
•
•
•
EXECUTING PARTICIPANT ID: XXXXXX
MM/DD XX XX XXX XX XX
XXXXX
MM/DD XX XX XXX XX XX
XXXXX
SUB TOTAL :
EX. ACCOUNT: XXXXX
CARRY DISPLAY ACCOUNT: XXXXXX
CARRY ACCT: XXXXXX
X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
X X XXXXXXXXXXX
XXXXXX XX XX XXXXXXXXXXX XXX XXX X XXXXXX.XXX XXXXXX.XX X
XXXX
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
XXXXXXX.XX
XXXXXXX.XX
TOTAL FOR EXECUTING PARTICIPANT : XXXXXX
TOTAL REVENUE
LESS REJECTED TRADES
NET REVENUE
: XXX
: XXX
: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
TOTAL REVENUE
LESS REJECTED TRADES
NET REVENUE
: XXX
: XXX
: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
COMBINED TOTAL REVENUE : XXX
LESS REJECTED TRADES
: XXX
COMBINED TOTAL NET REVENUE: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
COMBINED TOTAL REVENUE : XXX
LESS REJECTED TRADES
: XXX
COMBINED TOTAL NET REVENUE: XXX
XXXX
XXXX
XXXX
XXXXXXX.XX
XXXXXXX.XX
XXXXXXX.XX
Payment End of Month Report for Executing Participants
GNS00013
CLEARING CORPORATION
MM/DD/YY
GIVE-UP AUTOMATED INVOICING SYSTEM (GAINS)
HH24:MI:SS
PAYMENT END OF MONTH REPORT FOR EXECUTING PARTICIPANTS
PAGE: NO
ALL PARTICIPANTS (PROD & TEST) FOR THE PAYMENT CYCLE = XXXXX
EXECUTING PARTICIPANT: XXX - XXXX, XXXXXXX.
CURRENCY CODE: XXX - XXXXX
-------------------------------------------------------------------------------------------------------CALCULATED
CASH
REVENUE
ADJUSTED
-- CARRY -REVENUE
ADJUSTMENTS DISPUTED
REVENUE
PARTICIPANT ACCOUNT
(+)
(+)
(-)
(=)
-------------------------------------------------------------------------------------------------------XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
-------------------------------------------------------------------------------------------------------TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
-------------------------------------------------------------------------------------------------------CALCULATE ONLY:
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
BILL-TO REVENUE:
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
•
--------------------------------------------------------------------------------------------------------
CALCULATE
ONLY
(Y/N)
X
X
X
X
X
X
X
X
X
X
X
Payment End of Month Report for Carry Participants
GNS00014
CLEARING CORPORATION
MM/DD/YY
GIVE-UP AUTOMATED INVOICING SYSTEM (GAINS)
HH24:MI:SS
PAYMENT END OF MONTH REPORT FOR CARRY PARTICIPANTS
PAGE: NO
ALL PARTICIPANTS (PROD & TEST) FOR THE PAYMENT CYCLE = XXXXX
CARRY PARTICIPANT: XXXX - XXXXX, XXXXXXXXXXXXXXX.
CURRENCY CODE:
XXX - XXXXXX
----------------------------------------------------------------------------------------------------------CALCULATED
CASH
REVENUE
ADJUSTED
-----EXECUTING------REVENUE
ADJUSTMENTS DISPUTED
REVENUE
PARTICIPANT ACCOUNT
(+)
(+)
(-)
(=)
----------------------------------------------------------------------------------------------------------XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
XXX
XXXXX
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
----------------------------------------------------------------------------------------------------------TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
----------------------------------------------------------------------------------------------------------CALCULATE ONLY:
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
BILL-TO REVENUE:
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
TOTAL REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
LESS:REJCTD PMTS
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
NET REVENUE
$XXXXX.XX
$XXXXX.XX
$XXXX.XX
$XXXX.XX
-----------------------------------------------------------------------------------------------------------
CALCULATE
ONLY
(Y/N)
X
X
X
X
X
X
X
X
X
X
X
Systems Testing (CCorp)
Systems testing will be completed in 3 Phases (Phase 1: Confirm Rates; Phase 2: Confirm Trades and
Processing Requirements; Phase 3: Confirm End-of-Month Banking Cycle).
Timeline (June)
01 Jun
Firms granted user access to eGAINS (Production)
eGAINS data verification (validate data received from EGUS)
Firms begin manual input into eGAINS, if needed
02 Jun
EGUS to EGAINS agreement & rate load (complete by 30 Jun)
09 Jun
Firm user training: data entry (in London) continues through 13 June
10 Jun
Firms Confirm Rates (complete by 27 June, Phase 1)
16 Jun
Confirm Firm online view of give-out and take-up trade data
Systems Testing (CCorp)
Timeline (July)
01 Jul
Start test cycle (see CC test approach Phase 2)
Systems training (Firm users) for month-end processing (on line June 15 - June 30)
02 Jul
Test cycle reports - CCorp to run month-ends reports (June 15- June 30)
09 Jul
TEST: Deadline for executing Firms to correct/adjust eGAINS trade data (June)
21 Jul
TEST: Deadline for carrying Firms to re-accept or reject eGAINS trade data (June)
23 Jul
TEST: Carrying Firm accounts are debited
Systems Testing (CCorp)
Timeline (Aug)
01 Aug
eGAINS live
05 Aug
Run full cycle for July transactions; validate end-of-month reports (July) (Phase 3)
Participating Firm Summary (Banking) To-Do List
•
•
•
•
•
•
•
•
•
•
•
•
•
File e-GAINS Processing Agreement with FIA Tech
Complete Statement of Intent
Provide detailed banking instructions to FIA Tech
Add to EGUS Admin (Search Institution and Parties, Maintain Parties) Exchange and Firm Codes
File 3rd Party Debit Authorization Form with bank(s)
Forward completed copies of 3rd Party Debit Authorization Forms to FIA Tech
Provide FIA Tech with the eGAINS test coordinator
Request Learning Environment user ID and password
Add rates, formerly maintained via pdf, into EGUS
If you require an automated trade reconciliation tool, obtain CCorp’s layout specifications doc
Test rates and sign-off on reports
Test trades and sign-off on reports
Test monies (direct and third party) and sign-off on reports
Resource Links
Information, agreements, links and resources will be distributed when complete. These include:
•
•
•
•
•
•
•
•
Legal Agreement links
Timelines
Frequently Asked Questions (FAQs)
Learning Environment link
Spreadsheet for test trade submissions
Data Layout Specifications
Phase 1-3 Test Plans
Report Types and Detail (45 Total)
Contacts
FIA Tech
Robert Drew, Consultant, 07812991191, [email protected]
David Adam, Consultant, 312.786.3821, [email protected]
Ron Metcoff, Treasury Consultant, 215.272.6593, [email protected]
Krystal Atha, Relations Manager, 202.466.5460, [email protected]
David Wilson, Technology Project Manager, 202.466.5460, [email protected]
Mary Ann Burns, Executive Vice President Industry Relations, 202.466.5460, [email protected]
CCorp
Marc MacQuarrie, Client Services and Support, 312.786.5732, [email protected]
James Woods, Vice President, Production Management Group, 312.786.5715, [email protected]
Markit
Tony Murljacic, Director, Head of Trade Processing Connectivity, 917.441.6349, [email protected]
Thank You for Attending