Docs supports the addition and editing of Clearing Accounts, including associating accounts with Agreements, through the Clearing Account Library. The Clearing Account Library allows Clearing Brokers to make updates to accounts individually, or in bulk, including changes to effective dates, expiry dates, and description. Additionally, the tool allows for the bulk upload of new accounts via excel template, and linking these accounts to in-flight and executed agreements.
- Accessing the Clearing Account Library
- Navigating the Clearing Account Library
- Editing Individual Clearing Accounts
- Clearing Account Change Summary Report
- Archiving Clearing Accounts
- Clearing Account Addition - Single Account
- Clearing Account Addition - Multiple Accounts
Accessing the Clearing Account Library
The Clearing Account Library is available to any user with Agreement Viewer permissions, for parties operating in the Customer, Trader, or Clearing Broker roles. The Library may be accessed through the "Clearing Accounts" tab in Docs.
Navigating the Clearing Account Library
Within the library, users may search by account ID, sort by all columns, as well as apply filters to the party and account type values.
The Clearing Account Library displays the following information:
- Account ID
- Description: In case the same description appears across all agreements where this account appears, the description appears. If there are multiple descriptions on various agreements, the text "Description differs in various agreements" displays.
- Clearing Broker
- # Associated Agreements: Count of agreements in a non-Terminated state where this account appears. The number is hyperlinked. Selecting it will open the Agreement Search page and display all agreements where this account appears.
- NOTE: If the number is 0, the account may either appear on no agreements in the system, or only on terminated agreements.
- Earliest Effective Date: Displays the earliest effective date for the account across agreements.
- Latest Expiration Date: Displays the last expiration date of the account across agreements. If the account appears on at least one agreement where no expiration date has been provided, no date will display.
- Account Type
Editing Individual Accounts
1. To edit an account, select the pencil icon in the Action column of the account you would like to edit.
2. This will make all editable fields available, noting that some fields will not be available for editing for accounts currently associated with agreements. Additionally, users will have the option to delete accounts which are not associated with any agreements, using the "Delete" button.
- Earliest Effective Date
- Latest Expiration Date
- Account Type (If account is not associated with any agreements)
After editing a field, the "Save Changes" button will illuminate, and may be selected to apply edits. After saving, a Summary message will be provided detailing the account edit, and any impact on in-place agreements. Selecting the "Download Report" option will retrieve a detailed report of requested account changes, and impact of these changes on Agreements.
Clearing Account Change Summary Report
The Summary Report mentioned above displays requested changes to available fields, resulting values for these fields, and by-agreement detail of whether any changes were applied. Changes may not be applied due to agreement state, accounts already having specified information associated,
Archiving Clearing Accounts
Clearing Accounts in Docs can have one of two statuses: Active or Archived. Clearing Brokers control the status of the accounts through the Clearing Account Library. Only active accounts can be added to new agreements, however, archived accounts will continue to appear on existing agreements and can be edited as required on the agreements.
The archiving action displays to the right of the edit action for users with the ability to edit Clearing Accounts. To archive an account, simply click the archive action.
The Clearing Account status is altered immediately after selecting the archive action. The status column can assist in locating archived accounts within the library.
Once archived an account can be restored to active status by selecting the restore action that appears in place of the archive action. Once restored, counts such as the number of suggested agreements will take a few minutes to re-populate. The account can be added to new agreements once restored
Finding Archived Accounts on Agreements
While archived Clearing Accounts cannot be added to new agreements, when searching for accounts to add, a new section "Archived Clearing Accounts" will display any archived accounts that match to the applied search.
Accounts with the same account ID as the archived account cannot be added to Docs, instead, the archived account must be restored after which it will again be available for addition to agreements.
Clearing Account Addition - Single Account
New accounts may be added to the library by selecting the "Add New Account" button, entering account information, and saving.
Clearing Account Addition - Multiple Accounts
Firms may upload multiple accounts, and associate accounts to agreements, using the Clearing Account Upload template, available directly within the library. The template consists of the following columns:
- Account ID (Mandatory)
- Account Desc (Optional)
- Effective Date (Optional) - Formatted as DD-Mmm-YYYY ie. 30-Sep-2019
- Expiry Date (Optional) - Formatted as DD-Mmm-YYYY ie. 30-Sep-2019
- Account Type (Mandatory) - "Customer Clearing Account" or "FCM Processing Reference"
- Agreement ID (Optional) - If blank, account is only added to library. If populated, account will be added to specific agreement if it passes validation. Only one agreement ID may be populated for each line in the upload template.
- Clearing Broker (Mandatory if no Agreement ID given)
- Trader (Mandatory if no Agreement ID given)
- Customer (Mandatory if no Agreement ID given)
NOTE: This functionality can also be used to add a single clearing account across multiple Docs agreement IDs.
1. Download Clearing Account Template
2. Populate account details as necessary, noting required fields and formatting above. Save file as .xlsx.
3. Select "Upload" within the library, and choose your saved template. The system will provide a confirmation message denoting any agreement associations based on the upload file. The "Download Report" link provides a recap of the bulk updates, as well as whether a record was successfully associated with an agreement.
The report notes may include the following messages for accounts which were not associated with agreements:
- Wrong party roles – in case, when selected party is not present on given agreement in particular role
- Duplicate account – if uploaded account is duplicate;
- Agreement not found – in case, when agreement with given ID is not found in the system or user, which uploads this file is not entitled as Clearing Accounts Composer for CB party in question.