Overview and Best Practices
Docs supports the addition of multiple executing accounts to a single agreement, as well as associating these accounts with a specific rate schedule on an agreement. This supports the use of multiple rate schedules by different internal teams by an executing party, and downstream matching and pricing based on these accounts in brokerage systems.
Within the Rate Schedule workstream, select Edit, and navigate to the Executing Accounts section (once Rate Schedules have been added to the agreement).
Add the following information, noting that Effective and Expiry Dates are optional, and will default to the agreement dates if not otherwise specified:
1. Account ID - ID assigned to the Executing Account
2. Description - Descriptor of the account
3. Associated Rate Schedule - Rate Schedule associated with specific account/internal user denoted by the Executing Account. The system provides a dropdown of all schedules for association, or "Any" may be selected if either only one schedule is present, or if multiple schedules apply to the account.
Additional accounts may be added via the same workflow by selecting "+Add New Executing Account" . This may include multiple accounts linked to specific rate schedules if more than one rate schedule is on the agreement.
5. Once all executing accounts are added, select "Save & Close" to finalize the account addition if the agreement is Executed, or "Send for Approval" if the agreement is in Composition.
Impact of Executing Accounts in Downstream Brokerage Systems
When a trade feeds into Atlantis, the system will prioritize matching of the Executing Account on the trade to the rate schedule linked to that Executing Account on the Docs agreement. If the Docs agreement lists specific Executing Accounts, but the Atlantis Executing Account is not present on the agreement, the system will not price the trades.
If the Docs agreement lists only "TBA" in the Executing Account field, Atlantis will utilize any rate schedule linked to "TBA" to match and rate to Executing Accounts on Atlantis trades.
Tip: FIA Tech recommends adding specific Executing Accounts to Docs Agreements because this aids Atlantis in matching and rating against the correct Docs agreement and rate schedule. If a broker has several Docs agreements across their multiple legal entities (Docs parties) with the same client and clearing accounts, Atlantis does not know which agreement to price against by Clearing Account alone. By adding specific Executing Accounts to your Docs agreement this allows Atlantis to match and calculate fees with the correct Docs agreement when there are several possible options with the same global Executing Broker, Clearing Broker and client.
Tip: With the exception of special characters, Executing Accounts on Docs agreements must be exactly the same as the Executing Account on a trade for the trade to match and price against the agreement. Special characters can be included in accounts added to Docs agreements, however Atlantis only uses the alphanumeric characters of an account and ignores the special characters.