Overview

FCR Fees & Commissions schedules can be created and managed in the Fees & Commissions Rate Schedule Library.

All Fees & Commissions schedules follow the same standard format and can be created in 2 ways-

1. Build New
2. Upload New using the FCR Template

This article will cover the process to build a schedule in the FCR UI. 

Build New

Open the Fees & Commissions Rate Schedule Library.

Select the Create New drop down

Select Build New

After selecting Build New, a module will appear to complete the schedule information. A schedule can be created as a Template (1) or a Rate Schedule (2).

1. Template

For a FCR Template schedule, a Rate Schedule Name should be entered and a party selected which the schedule will be assigned to. This creates a template file which is available to turn into a Rate Schedule when attached to a FCR Document.

2. Rate Schedule 

For a FCR Rate Schedule, a Rate Schedule Name should be entered and a party selected which the schedule will be assigned to. For a Rate Schedule, the Charge Type and Service type mist also be assigned here. 

Charge Type: The charge type does not change how the schedule is structured or how fees are populated. This is a reference point for Brokers/ Clients to understand how fees are being charged. 

          Cost Plus: = Fees associated with the trade are charged individually and the exchange/clearing fees are added into this. As a result, if the exchange fee increases, your total cost increases as well.

          All in = A set dee is charged that includes all the costs associated with making a trade. As the exchange/clearing fees vary your total cost will NOT change.

Service Type:

          Execution Only – Execution commissions only and any associated exchange fees to the execution broker
          Clearing Only - Clearing commissions only and any associated exchange or clearing fees to the clearing broker
          Full Service - Execution and clearing commissions and any associated exchange or clearing fees

Select Create Rate Schedule once selections are complete

Next, the Rate Schedule builder is opened.

Users can begin to add rate lines by selecting “Add your first line” then selecting from drop-down fields within the schedule, beginning with Region.

Users also have the option to create a schedule from an existing template in the library. 

If the schedule is a Template then each rate line can contain an Execution Commission rate only, a Clearing Commission rate only, or both an Execution Commission and Clearing Commission. At least one of these rates must be entered per rate line.

If the schedule is a Rate Schedule that is Executing only then Execution Commissions must be entered

If the schedule is a Rate Schedule that is Clearing only then Clearing Commissions must be entered

If the schedule is a Rate Schedule that is Full Service then Execution Commissions and/or Clearing Commissions must be entered

The required fields per rate line are listed below -

Region

Exchange

Product Group

Product Code

Product Name

Exec Type (only when execution commissions are present)

Commissions (as explained above)

Rate Type

Additional custom fields can be added and defined by selecting the +Add Column button

The schedule can be saved as a draft by selecting Save as Draft.

When the schedule is complete select Save & Publish.

Once Published, the schedule is available in the library. 

Depending on the type, Rate Schedule or Template, there are 2 different library views to access the schedules. 

If the schedule is a Template, it will be available in the Template Library view

If the schedule is a Rate Schedule it will be available in the Rate Schedule > Counterparty view

These schedules are available for users to associate/ attach to FCR Documents for assigned party. 

Exchange Fees and Clearing Fees will populate on the schedule at the Document level. The Exchange Membership set for the Client on the Document will affect how fees are populated on the schedule.