Duplicate Instructions on an investor contract
If a new instruction is loaded on an investor contract the system will check if there is another instruction in progress on the contract with the same instruction type, amount and instruments (the amounts/percentage of the instruments in the instruction does not have to be the same).
The statuses of instructions with which the new instruction will be compared are all statuses from submitted to not yet completed:
- Submitted
- Authorised
- Processing
- Ready to recur
- Buying
- 0 sell(s) confirmed and 0 sell(s) paid out of x
Note: Recurring instructions are excluded from these duplicate validations
A. Warning only
On submission of the possible duplicate instruction a warning message will appear:
When selecting ‘Yes’ the instruction will proceed as normal. Alternatively ‘No’ can be selected to scrutinise the instruction to determine if it is a valid instruction. If so the instruction can be submitted again and ‘Yes’ selected.
B. Requires second level authorisation
On a product there is a setting ‘Requires pending authorisation state for duplicate instruction’.
If this setting is selected, the message on submitting a possible duplicate instruction will differ:
If ‘Yes’ is selected the instruction will be submitted. The instruction can not be directly authorised and must first be set to pending authorisation.
Instructions with status ‘ Pending Authorisation’ will appear under the Instructions main menu->Pending Authorisation’
Only users with the global permission ‘Can authorise instruction that is pending authorisation’ will be able to authorise instructions in status Pending Authorisation.
When ‘Create Dealer Instructions’ is selected and there are any Pending Authorisation instructions, a message will pop-up warning that there are pending authorisation instructions that will not be included in the dealer instructions created if not first authorised.
The pending authorisation instructions can be viewed, or the dealer instruction creation can be cancelled to allow attendance to the pending authorisation instructions, or the option to continue to create the dealer instructions without the pending authorisation can be selected (Continue)
Last Updated on 8 months ago by Debra Hart