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Perform
Bulk Deal Transactions
Summary
Bulk deal transactions are two or more spot trades grouped together to receive a single
rate. Use the bulk deals function when you have multiple "like" exchanges
(same currency, Value Date) and want to simplify your accounting records. The
steps to complete a bulk deal are presented in two phases: The first phase explains
how to enter quotes, and the second phase explains how to group them and get a
single exchange rate.
Prerequisites
Steps
Terms and Labels
Messages
Prerequisites
Before performing a bulk deal:
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Be familiar with how FX Web executes a spot
trade. Bulk deals are a series of spot trades that are grouped together
at a single price.
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Verify that you can acknowledge each quote, and
that you can access the correct Views in which to group the quotes and
generate a price.
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Log on to access the Main Menu page if you have
not already done so.
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Pay close attention to the default values that display when you initially open the Trade
Entry page. You may be able to skip several steps.
Steps
Phase 1: Enter your quotes
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Click Bulk Deals on the
Main Menu. The Trade Entry: Bulk
Deals page appears.
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Click in Value
Date and enter the value date for the bulk deal.
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Optionally, create a Forward Variable date range by entering a start date in the Variable
Delivery Date field and and the end date in Value
Date.
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Open the Action
dropdown box and select Buy
or Sell
(Buy is the default).
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Select the currency type, either by character code or by clicking the flag icon to select
from a table of available currencies.
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Type the amount of currency in the text box to
the right of the currency code.
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Optionally, click in Deal
Details field and describe this trade (optional, but recommended).
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Click Send, and
then OK at confirm message
to commit the proposed trade.
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Click Acknowledge,
and note the transaction number. Click Receipt
to display the Delivery Details for
Trade page.
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Select the payment Method
and instruction Set from the dropdown list boxes.
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Enter, verify, or modify delivery information on the tab(s) of the Delivery
Details... page and then click Insert.
Click OK to save the instructions.
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Optionally, edit the inserted information and click Update, then
OK.
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Optionally, delete the entire inserted
instruction set by clicking Delete, and then OK. Reenter the information and repeat
this step.
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Click Payment, then repeat steps 9-10.
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Click Back
to return to the Trade Entry: Bulk Deal page. Repeat
steps 5 through 11 until you have entered all of the proposed trades. Click Menu
and go to Phase 2 below.
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to Help Contents and Contact Page
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Phase 2 begins at the Main Menu: Group your Entered
Quotes
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Click Views to display the FX Web View
Manager.
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Select Web Price
Bulk Deals, and click Execute to display trades to
price along with already bulked deals.
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Locate the proposed deals
to group. Press and hold Shift while clicking each candidate row
for the bulk deal.
- Click Do
Pricing to display the
Integrate Bulk Quote page.
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Click Get
Rate to display the single bulk rate for all the entered trades. The
Integrate
button appears on the the page.
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ClickIntegrate, and then OK
to attach the rate to the combined quotes, and then click OK
at the confirm message. The Web Price
view appears. Locate
your bulk trade. It should have a status of dealt.
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to Help Contents and Contact Page
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Terms and
Labels
| Term or Field |
Description |
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Proposed Deal/Trade or "Quote"
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Proposed deals are purchase or sale instructions that are complete except for rates.. The
FX Web interface for bulk deals is very similar to that for entering Spot and
Forward outright trades. The difference is that you do not ask the system to return
a rate until your several entries are grouped and priced.
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Integrate
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Integrate, in the context of bulk deals, is the
action that adds several trade amounts together into a single trade for the purpose
of returning a single rate.
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Views
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Views are arranged data stored in your FX
Web database that provide summary information about the trades you have made,
are about to make, and other information that you have entered or that has been
established for your FX Web account.
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Web Quote
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Web Quote is the View name that lists the proposed trades to group as a bulk deal.
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Web Price
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Web Price is the View name that reflects the completed bulk deal by showing the trade
as a single transaction.
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Messages
| Message |
What it Means/What to Do |
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The Rate is no Longer
Valid, request another rate
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The rate feed calculated
is over five minutes old. Click Get
Rate again, and you should receive a new rate.
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Near Rate is out of Tolerance
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The feed of the market rate is down or too slow for FX Web. You can probably get past this
message by selecting Trade at Market, which bypasses the view of the rate. If
this is unacceptable, contact your dealer to make the trade.
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Trade Date is Greater than Option Date
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You entered Variable Delivery Date value in the past. The Trade date is today's date.
FX Web automatically adjusts the Variable Delivery Date back to the default date,
which is the Value Date. You need to reenter a date that is at least equal to
the trade date.
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Near Buy Amount Exceeds
Maximum Amount
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FX Web assigns an upper limit
to the amount of a given currency that you can buy. Enter a lower amount or contact
your dealer to make the trade.
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Weekend date or Invalid date
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Value Date or Variable Delivery Date that is not a regular business day in at
least one of the countries involved in the trade. Enter a new date.
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