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Creating a New Forward Trade Request
Overview
Before a user can create a new trading request, they must create a new trading account and get it approved by a Compliance Officer. A trading request is a request to trade with a financial institution.
Related Information/Setup
Please see the Creating a New Trading Account article for more information on creating a new trading account.
Navigation
- From the Home screen, click the Home dropdown menu.
Home Menu
- Click the Employee Portal link.
Employee Portal Link
- From the Personal Trading screen, click the + New Trading Request button.
+ New Trading Request Button
Creating a New Forward Trade Request
- From the New Trade Request screen, select Forward from the Security Type dropdown menu.
- Forward: A forward buys and sells assets for a specified price on a future date and has negotiable terms.
Security Type Dropdown Menu
- Click the Next button.
Next Button
- From the Personal Trade screen, click the Add Existing Brokerage Account link.
Add Existing Brokerage Account Link
- From the Add Existing Brokerage Account pop-up, click on the + Add link next to a brokerage account to add it to the Brokerage Account field on the Personal Trade screen.
+ Add link
- (Optional) Enter a keyword in the Search field if you cannot find the brokerage firm you are looking for on the most recently created list.
- From the Personal Trade screen, fill out the following information under the Forward Transaction Details section.
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Enter the Forward Contract type in the Forward Contract field.
- Closed Outright: A standard forward contract that includes two parties trading an asset for a set price on a particular date.
- Flexible: A flexible contract means the two parties can settle the contract before the specific date in one or multiple transactions.
- Long-Date: A long-date contract's closing date is at least a year or longer.
- Non-deliverable: A non-deliverable contract is settled with the exchange of cash based on contract and market price.
Forward Contract Field
- Enter the Asset on the forward contract in the Underlying Instrument Symbol field.
Underlying Instrument Symbol
- Enter the Name of the Counterparty in the Name of OTC Counterparty field. The Name of the Counterparty is the name of the second party on the forward contract.
Name of OTC Counterparty Field
- Enter the Estimated Transaction Total in the Estimated total value of transaction field.
Estimated Total Value of Transaction Field
- Select a Settlement Date from the Calendar pop-up by clicking a Date on the Settlement Date field. The Settlement Date is the date the currencies are traded.
Settlement Date Field
- Select a Currency Code from the Currency dropdown menu. The currency code represents the currency the user is trading in.
Currency Field
- Select a Settlement Type by clicking a Settlement Type radio button.
- Cash
- Delivery
Settlement Type Field
- Select a Trade Action by clicking an Action radio button.
- Buy: The buy option indicates the employee intends to buy the security.
- Sell: The sell option indicates the employee intends to sell the security.
Action Radio Buttons
- Select an option to the question Do you have material non-public information about this trade? If the user selects Yes, they will have to include further details.
- Select an option to the question Could the proposed trade represent or create a conflict of interest? If the user selects Yes, they will have to include further details.
Question Fields
- Enter a keyword in the Employee field and select your name from the dropdown menu. Entering your name indicates you acknowledge all policies and laws pertaining to this action.
Employee Field
- Click the Submit button to send the request to a Compliance Officer.
Submit Button
- The Compliance Officer will receive an email notification indicating a request requires action.
Email Notification
- Click the Cancel button to cancel the request and return to the previous screen. Compliance Officers will not see a cancelled request.