FCR Document Types
Client Initiated – 2 Party
Client party initiated FCR Document
Client created fee schedule for relationship between the Broker and Client party on the Document
- The Fee Schedule available in Rate Schedule workstream will include Executing only rates, Clearing only rates or Full Service rates defined by the client
- Exchange Fees and Clearing fees that apply per rate line will populate on the Fee Schedule in FCR
- Exchange Memberships are defined by the Client, at the party level and will apply when Exchange Fees are populated per rate line
A Brokerage schedule is created by the system during Internal Review state for any instance where the attached fee schedule contains Execution rates
Associated GUA between the Broker as Executing Broker and Client as Customer/Trader systematically populate in Underlying GUA workstream during Internal Review state
Brokerage rates can be synced by the Client to all or selective GUAs once the FCR Document reaches a Published state
The Client party will apply their Approval on the Document making the Document available for Broker approval during Counterparty Review state
Once approved by the Broker the Document reaches its final state, Published.
- If the Broker is subscribed for Rate Sync, the Broker can also choose to apply their rate approval to the Rate Schedule workstream on underlying GUAs.
Broker Initiated – 2 Party
Broker party initiated FCR Document
Broker created fee schedule for relationship between the Broker and Client party on the FCR Document
- The Fee Schedule available in Rate Schedule workstream will include Executing only rates, Clearing only rates or Full Service rates defined by the broker
- Exchange Fees and Clearing fees that apply per rate line will populate on the Fee Schedule in FCR
- Exchange Memberships are defined by the Client, at the party level and will apply when Exchange Fees are populated per rate line. If the Client party is not active in FCR then the Broker will set the memberships when attaching the Fee Schedule.
A Brokerage schedule is created by the system during Internal Review state for any instance where the attached fee schedule contains Execution rates
Associated GUA between the Broker as Executing Broker and Client as Customer/Trader systematically populate in Underlying GUA workstream during Internal Review state
Brokerage rates can be synced by the Broker to all or selective GUAs once the FCR Document reaches a Published state.
The Broker party will apply their Approval on the Document, at the same time they can choose to apply their rate approval to the Rate Schedule workstream on underlying GUAs, making the Document available for Client approval during Counterparty Review state.
Once approved by the Client the Document reaches its final state, Published
- The Client, with Rate Sync or Full Service subscription, can also choose to apply their rate approval to the Rate Schedule workstream on underlying GUAs
Broker Initiated – 3 Party
Broker party initiated FCR Document
Broker created fee schedule for relationship between the Broker, Client and Trader party on the FCR Document
- The Fee Schedule available in Rate Schedule workstream will include Executing only rates, Clearing only rates or Full Service rates defined by the broker
- Exchange Fees and Clearing fees that apply per rate line will populate on the Fee Schedule in FCR
- Exchange Memberships are defined by the Trader, at the party level and will apply when Exchange Fees are populated per rate line. If the Client party is not active in FCR then the Broker will set the memberships when attaching the Fee Schedule.
A Brokerage schedule is created by the system during Internal Review state for any instance where the attached fee schedule contains Execution rates
Associated GUA between the Broker as Executing Broker, Client as Customer, and Trader as Trader party systematically populate in Underlying GUA workstream during Internal Review state
Brokerage rates can be synced by the Broker to all or selective GUAs once the FCR Document reaches a Published state.
The Broker party will apply their Approval on the Document, at the same time they can choose to apply their rate approval to the Rate Schedule workstream on underlying GUAs, making the Document available for Client approval during Counterparty Review state
Once approved by the Client the Document reaches its final state, Published
- The Client, with Rate Sync or Full Service subscription, can also choose to apply their rate approval to the Rate Schedule workstream on underlying GUAs.
- No approvals required from Trader Party
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