FIA Tech will be introducing the Supported Products functionality within the UI as of the Sprint 199 release. This feature allows brokers (executing and clearing) to specify any exchanges, products, or groups of products they do not clear/trade. Unlike the Section 2 notice functionality, this functionality only impacts agreements on a going forward basis, ie., updates to support/unsupport products do not affect agreements in Composition with rate schedules approved, or executed agreements.
- How to Manage Supported Products
- Unsupported Products in Rates attached to Agreements
How to Manage Supported Products
Supported Products are managed in the Products menu under the Products & Rates dropdown. Only users from broker parties with the 'Rates Library Maintainer' permission can set up Supported Products for the parties they have access to.
For each party and role, there is a separate view. To get started, a party must be selected through the party dropdown, and the role selected by toggling between EB and CB (if the party operates as both) on the upper left side of the page.
To make any changes to the Support Products list, the 'Edit' button must first be selected in the upper right corner of the page.
Products must be set up as supported or non-supported individually for each party. The setup can be copied between parties and roles as necessary (as shown below).
Setting up Unsupported Products
By default, all products are supported by parties as they are onboarded to Docs. As part of the initial setup, broker parties must therefore un-support products they do not wish to see on agreements going forward.
To unsupport a product, exchange, or group, simply select 'Edit', then uncheck the checkbox next to the product in question. When exchanges and product groups are unsupported, all products within them are unsupported. Saved changes made to this page enter into effect immediately, however, they are only applicable to agreements going forward and not to agreements with approved Rate Schedule workstreams, or executed agreements.
To support a product that was previously unsupported, simply select the 'Edit' button and then select the checkbox next to the exchange, group or product to support them again. Once saved, this change will go into effect immediately, but it is only applicable to agreements going forward and not to agreements with approved Rate Schedule workstreams, or executed agreements.
For Newly Added Products
New products are periodically added to Docs. When new products are added into groups and exchanges that are supported by a firm, these products are by default supported by the party. Users may choose to turn this feature 'on' or 'off' by using the toggle button in the upper right side of the page. If turned 'off', this will result in all newly added products being unsupported by default when they are added to Docs.
Reviewing the Supported Products
All users with the permission to view agreements in Docs can also review the Supported Products. They will be able to see the status of all products under the Supported Products page. Additionally, Docs records when the status of each product was updated, with this information also included in the export of the supported product list.
Unsupported Products as Removed Products in Rates attached to Agreements
Once a firm has set up their list of unsupported products, these will start reflecting on all agreements in Composition, having no approvals on their Rate Schedule workstreams. Agreements in Execution, or that have been executed, are not impacted. On a given agreement, the Supported Product settings of all broker parties are taken into account.
Unsupported products are reflected as "Removed Products" in the UI representation of the rate schedule, as well as the PDF.
*Please note that these product removals do not display within the eModule.
Reviewing Products on Agreements
In the Rate Schedule workstream, a warning symbol is used to indicate if there are unsupported products within a rate schedule, and the column “removed products” shows the number of products that are not supported for each rate schedule attached to the agreement. Note that this number reflects the number of individual products, and not the number of rows in a rate schedule that have been removed.
Within the rate schedule, the full view of which products are removed can be seen in the hierarchical view of the schedule. All rows with removed products are denoted by the warning triangle symbol. Where an exchange or product group appears in the rate schedule, and one or more products within the group have been removed, the hierarchical view must be used to see the removed product.
All removed products are displayed within the rate schedule with a strikethrough and the warning symbol. A tooltip will display when hovering over the line to show which party does not support the product.
Support for Individual Products
Broker party users with the ability to edit rate schedules can choose to override the status of an unsupported product on individual agreements. This is achieved by shifting the toggle next to the product.
The system will denote that the product has been added back in for this agreement only.
Please note: Edits to a party’s general Supported Products list can only be made on the Supported Products page.
Unsupported Products in the Agreement PDF
When downloaded as a PDF, the rate schedule appears in the same format as the flat view in the system. The warning triangle symbol is used to denote rate rows that are either wholly removed, or contain removed products. The full list of removed products will appear at the end of the rate schedule.
Unsupported Products in an Agreement Search
Agreements containing unsupported products may be identified within the agreement search via the 'Removed Products' column, showing "Yes" if the rate schedule(s) on an agreement includes unsupported products, and "No" if not.
Supported Products in the API
Similar to the agreement PDF, the AgreementDetails API call contains a separate section denoting all removed products on an agreement. More details can be found in the Rest API specifications.