Non-STP Remediation - Amending Docs Agreements

Overview

In an effort to promote system efficiencies, FIA Tech implemented a Non-STP (Straight Through Processing) upcharge beginning in Q32019, to agreements with certain characteristics. The upcharge is assessed on any executed agreement that has at least one of the below characteristics:

• A non-conformed broker party,
• Contains a PDF rate schedule absent an eRate,
• Is an uploaded agreement other than a CLSA,

Identifying Non-STP Agreements

In order to assist firms in remediating these Non-STP agreements, FIA Tech has outlined the steps involved in identifying those agreements, and amending them to support Straight Through Processing.

• Go to Documents > Search Agreements
  • Leave all filters blank to run a full agreement report for your firm
  • Click “Search” and all agreements will display in the Search Results section

• Download Search Results to Excel

• • Non-conformed broker party – Each broker role (XB, CB, OPB, etc.) in the downloaded report includes a corresponding “Is Conf” column. The value of “N” indicates that the broker party in that role is “non-conformed”.

• • PDF Rate Schedule absent an eRate – eRate Count is zero (0) and PDF RS Count is one (1) or greater (Columns AY & BB)

Amending Non-STP agreements

To amend a Docs agreement, update the workstream by clicking the “Lock and Edit” button.  This will allow the user to edit the workstream, update the Non-STP characteristics, and then Send for Approval.  When the agreement is Sent for Approval, a new agreement ID will be generated, and all of the counterparties would need to approve, first within the Composition stage, and then in the Execution stage.