eModule - Direct Bill Indicator

Introduction

When creating a rate schedule in Docs, firms can choose to make one or more exchanges Direct Bill if they do not wish to electronically settle products under those exchanges in downstream billing systems such as Atlantis and GPS. 

Note for firms settling in Atlantis: If an exchange is made Direct Bill in your eModule, trades on that exchange which are matching to that agreement and rate schedule will not be eligible for electronic settlement in Atlantis and the trades will have a cannot settle reason of "Payer Participant Missing".

Selecting Direct Bill in the eModule

The eModule requires various product and rate related data, including the indication of Direct Bill (Column A) for each rate row.

By selecting Direct Bill "Y" on a rate row, one is identifying that all products on that exchange should be billed outside of an electronic billing system such as Atlantis or GPS, and instead will need to be billed directly.

If Direct Bill is selected on a rate row, all products within that Exchange must be Direct Bill.  The eModule has validation that will ask you to update all rate rows to either be Direct Bill "Y" or Direct Bill "Blank".