Overview

FCR Fees & Commissions schedules can be created and managed in the Fees & Commissions Rate Schedule Library.

All Fees & Commissions schedules follow the same standard format and can be created in 2 ways-

1. Build New
2. Upload New using the FCR Template

This article will cover the process to upload a FCR Schedule Template. 

Upload New 

Open the Fees & Commissions Rate Schedule Library.

Select the Create New drop down

Select Create New Template 

A module will appear to select additional information to be included in the Template file.  

Custom Columns: Custom fields are defined through the Rate Schedule builder process (UI Builder). Any custom fields that have been created for your party will be available to add to the template here. 

Add columns: These are preset fields available to the FCR template if applicable to the schedule

Once complete, select Download Template and the FCR Template file will download 

Open the downloaded Template 

Within the template excel, user will add rate lines using Docs product reference data.

Product information can be viewed in the application or downloaded for reference in the Products page under the Product & Rates menu.

Each rate line can contain an Execution Commission rate only, a Clearing Commission rate only, or both an Execution Commission and Clearing Commission. At least one of these rates must be entered per rate line.

The required fields per rate line are listed below -

Exchange

Product Group

Product Code

Product Type

Exec Type (only when execution commissions are present)

Default (only when execution commissions are present)

Commissions (as explained above)

Rate Type

FCR will only accept the format of the downloaded template, columns and header names should not be added, removed or reordered.

The FCR Template spec is available as a PDF on the bottom of this page. The spec has file formatting details, requirements and input values.

Once the FcrRs Template file creation is complete, the file is uploaded to the Fees & Commission library.

In the FCR library, select the Create New drop down

Select Upload New

Search for FCR file and upload. The name of the file will remain with same name in the FCR library once uploaded. 

A module will appear to define the category and party. 

1. Template 

For a FCR Template schedule, a Rate Schedule Name should be entered and a party selected which the schedule will be assigned to. This creates a template file which is available to turn into a Rate Schedule when attached to a FCR Document.

2. Rate Schedule

For a FCR Rate Schedule, a Rate Schedule Name should be entered and a party selected which the schedule will be assigned to. For a Rate Schedule, the Charge Type and Service type mist also be assigned here. This creates a Rate Schedule which is pre-define by these selections and can be attached to FCR Documents. 

Charge Type: The charge type does not change how the schedule is structured or how fees are populated. This is a reference point for Brokers/ Clients to understand how fees are being charged. 

          Cost Plus: = Fees associated with the trade are charged individually and the exchange/clearing fees are added into this. As a result, if the exchange fee increases, your total cost increases as well.

          All in = A set dee is charged that includes all the costs associated with making a trade. As the exchange/clearing fees vary your total cost will NOT change.

Service Type:

          Execution Only – Execution commissions only and any associated exchange fees to the execution broker
          Clearing Only - Clearing commissions only and any associated exchange or clearing fees to the clearing broker
          Full Service - Execution and clearing commissions and any associated exchange or clearing fees

Select Upload

When the schedule loads successfully, the Rate Schedule view in the library will open. Schedule should be saved and published. Once published, schedules 

Once Published, the schedule is available in the library. 

Depending on the type, Rate Schedule or Template, there are 2 different library views to access the schedules. 

If the schedule is a Template, it will be available in the Template Library view

If the schedule is a Rate Schedule it will be available in the Rate Schedule > Counterparty view

These schedules are available for users to associate/ attach to FCR Documents for assigned party. 

Exchange Fees and Clearing Fees will populate on the schedule at the Document level. The Exchange Membership set for the Client on the Document will affect how fees are populated on the schedule. 

Upload Errors 

If the FCR Template is not formatted correctly it will fail from loading. 

A banner will appear across the top of the library stating Upload Error

User should select "See Errors" 

FCR will display the error reason and associate row in the template file that is incorrectly formatted or missing. 

The template file must be corrected for flagged errors and re-uploaded to the library.