View on contracts classified as administrator and advisers

The user interface on contracts classified as administrator and advisers, will display a different layout from contracts classified as clients.

This view enables the administrator to easily identify contracts where, for instance, the account balance is zero but there are negative holdings and positive holdings on different instrument accounts for the same instrument.

Different instrument accounts for the same instrument will be present where the instrument, dealer and custodian combination are not the same. Such instances need to be investigated to determine if the different instrument accounts are valid, for instance the instrument actually did deal through different dealers on the contract or if corrective measures are required.

NOTE: Only Instruments with holdings (positive or negative) will be displayed on the front of the Instrument Account card.

Selecting ‘View Details’ will display Instrument accounts whose value is zero.

Clicking into the Account name on the Client Accounts Card will provide the Current Holdings view as displayed on contracts classified as clients.

On contracts classified as administrator and advisers, the transactions report can be generated on the Instrument Accounts card. The report will only generate transactions for the selected contract.

How the system determines if a contract is an administrative contract:

1. It is owned by the financial service provider
2. It is linked with any type: fee, working, tax, reserve, bulk trading or fee control
3. If it is used as a fee sharing account
4. Has been overridden to be an administrative contract

Administrative contracts will not produce client statements as it is not relevant to such contracts.

Contracts are classified as Adviser if the contract is linked to an Adviser as a Fee portfolio.

Last Updated on 4 weeks ago by Antoinette Van Meyeren