TC final Assessment
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Questions and Answers

What action should be taken if the Agent/Broker BIC code is not valid in ISO/BANCS ?

  • Query client and request for valid SSI. Only release the trade once receive client confirmation on the SSI
  • Bypass in ISO and BANCS using FETALULLDIS, amend BIC code as per client instruction via STELINK as we need to release the trade ASAP.
  • Check on the validity of the BIC code in SWIFT.com, if valid, proceed to setup with DM. If not valid, query client on SSI and ask for amendment. (correct)
  • Query MS on the validity of the BIC code, if valid, proceed release the trade with FETALULL and amend the BIC in STELINK.

    • A trade on ISO shows error code YAKO REASON_02. Please choose the warning message for the error code.

  • BROKER BIC not setup / updated in the system
  • SENDER BIC not setup / updated in the system (correct)
  • AGENT BIC not setup / updated in the system
  • CUSTODIAN BIC not setup / updated in the system

    • The Above trade is instructed with incomplete details – missing SSI and economic details. Please identify the error code for this trade.

  • YCKO REASON_13
  • YCKO REASON_21
  • YCKO REASON_12 (correct)
  • None of the above

    • While inputting manual booking, what are the securities code type accepted by ISO?

    <p>ISIN / SEDOL / CUSIP</p> Signup and view all the answers

    Which of the below option in ISO is to add 70E field for Client?

    <p>Additional information</p> Signup and view all the answers

    Please identify what is the issue with the TD or SD for the Above trade and choose the error code related to it.

    <p>YCKO REASON_04</p> Signup and view all the answers

    What does YAKO error message mean in ISO?

    <p>ISO setup authorization control check failure</p> Signup and view all the answers

    When a trade is released from ISO, which will be the correct flow below?

    <p>Create Y-flow, from ISO to Bancs &amp; MF(FA system)</p> Signup and view all the answers

    Which of the following fields require to input "FETALULL" when TC instruct an in-house FX instruction in ISO:

    i. Broker

    ii. Intermediary

    iii. Receiving Agent

    iv. Beneficiary Institution

    <p>ii, iii &amp; iv</p> Signup and view all the answers

    The TD and SD for the above trade is incorrect. Choose the correct error.

    <p>YCKO REASON_01</p> Signup and view all the answers

    The TD for the above trade falls on a weekend. What is the error code which will be shown on ISO?

    <p>YCKO REASON_02</p> Signup and view all the answers

    YAKO REASON_02 - Please choose the warning message for the error code mentioned.

    <p>Currently, this Sender cannot perform this transaction for the client. Please contact your administrator.</p> Signup and view all the answers

    Trade is instructed with ISIN, but it has not been setup on ISO. Which is the correct team for ISIN setup queries?

    <p>Data Sig</p> Signup and view all the answers

    If a trade was instructed with the same TD and SD - pick the correct error code.

    <p>YCKO REASON_05</p> Signup and view all the answers

    TD for the above trade falls on a weekend. The error code prompted on ISO is YCKO REASON_01.

    <p>False</p> Signup and view all the answers

    Choose the correct workaround for the above scenario.

    <p>Do not amend anything and release the trade.</p> Signup and view all the answers

    Which error code will the above trade fall to?

    <p>YCKO_21</p> Signup and view all the answers

    What is the maximum number of characters for client reference on ISO?

    <p>16 characters</p> Signup and view all the answers

    If a trade was instructed with the same client reference, there will be a duplication error on ISO. What is the error code?

    <p>YCKO REASON_13</p> Signup and view all the answers

    The above trades were instructed with the same client references. Will the trade fall in the ISO Error Queue for duplication error?

    <p>False</p> Signup and view all the answers

    What is the workaround to repair the below trade?

    <p>No workaround needed – not for TC to repair.</p> Signup and view all the answers

    The below BIC CODE is invalid on ISO. What should be done to ensure it becomes valid on ISO?

    <p>Amend the BIC Code by adding X to release the trade.</p> Signup and view all the answers

    What is the workaround to treat the above trade which is in status error?

    <p>Repair and release the trade.</p> Signup and view all the answers

    YCKO REASON_14: The Price and/or the Quantity and/or the Gross Amount are missing or less than zero. Please enter values greater than zero.

    What is the workaround to treat trades with the above error?

    <p>Query CR to reconfirm the economic details before releasing the trade.</p> Signup and view all the answers

    The trades above are on status ERROR, what is the workaround for the below?

    <p>Send email to TMTC, upon approval Cancel repair / decline both trades.</p> Signup and view all the answers

    Client instructed a purchase trade for Australia market (VD –1) late (after cut off) on 26 April 2022, original TD and SD is TD 24 April 2022 & SD 26 April 2022. 27 April is Australia Holiday (non-working day for securities and cash). Does we require to change the revalued settlement date in Bancs? What would be the correct date to use if change is required?

    <p>Yes, revalued date would need to change to 29 April 2022.</p> Signup and view all the answers

    You are repairing a sell trade in BANCS, which custody position status show as NOK, after the check in Milvus for actual holding, there is insufficient shares to cover the sell, what should you do?

    <p>Hold to repair for the trade, and query Client accordingly to check on the position.</p> Signup and view all the answers

    You received a cancellation for a purchase trade in BANCS, what is the next step you will need to do?

    <p>Hold the cancellation, check with Client on the validity before proceeding with any action.</p> Signup and view all the answers

    What would be the folder option if you want to view Client inbound / outbound SWIFT?

    <p>Full View of Related Messages</p> Signup and view all the answers

    What would be the folder option if you want to view SEDOL captured in BANCS for your booking?

    <p>Indicator Details</p> Signup and view all the answers

    What would be the option in BANCS counterparty details if you want to input clearing code & account for your booking?

    <p>FX/Amendment</p> Signup and view all the answers

    Where can you find the MILVUS reference in BANCS once trade is posted?

    <p>Depository Reference</p> Signup and view all the answers

    What would be the BIC code to use for Instructing Party in BANCS if you are inputting a manual trade in BANCS?

    <p>YFLOWSTE</p> Signup and view all the answers

    What would be the correct message type for MT547?

    <p>Deliver against payment confirmation.</p> Signup and view all the answers

    What field to add when you come across SG ISIN with the above error?

    <p>EXCH/XSES</p> Signup and view all the answers

    What is the YFLOW BPID?

    <p>BP0490582</p> Signup and view all the answers

    Under what circumstances, TC is allowed to use RDO function in BANCS?

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    What action to be taken if you encounter above warning message in BANCS?

    <p>Check information quoted in the field 70E from inbound swift and take Necessary action. Copy and paste information into client narrative folder if required.</p> Signup and view all the answers

    What would be the option in BANCS counterparty details if you want to input clearing code & account for your booking?

    <p>DS</p> Signup and view all the answers

    Since October 2017, I&TS is able to support our clients trading in Bond Connect securities. Client sends an instruction via SWIFT below, what details is missing in order to settle trade?

    <p>SPRO field &amp; 22F</p> Signup and view all the answers

    In a scenario where client unable to re-instruct a replacement via SWIFT or RBC One (ISO) and requires Trade Capture to perform manual booking, apart from the detail in RDO is screen, what is the other detail to include in the new booking?

    <p>Narrative 22F details.</p> Signup and view all the answers

    In the case there are sufficient holdings to release the DVP/DFP with NOK status, what action is required from TC?

    <p>Override the trade and update Milvus cover ref in Diary Remarks.</p> Signup and view all the answers

    question 43- please insert. Cancelation que question

    <p>A</p> Signup and view all the answers

    question 44- please insert. 22F que

    <p>B</p> Signup and view all the answers

    question 45- please insert.CSDR CASE 18

    <p>C</p> Signup and view all the answers

    question 46- please insert.CSDR CASE 20

    <p>D</p> Signup and view all the answers

    question 47- please insert.CSDR CASE 19

    <p>A</p> Signup and view all the answers

    question 48- please insert.CSDR CASE 21

    <p>B</p> Signup and view all the answers

    question 49- please insert.CSDR CASE 22

    <p>C</p> Signup and view all the answers

    question 50- please insert.CSDR CASE 23/ clearstream ISIN issue

    <p>D</p> Signup and view all the answers

    Please select the correct flow of trades through systems in the SCUBA model

    <p>ISO  BANCS  MILVUS</p> Signup and view all the answers

    Which of the following MILVUS Command options is used to check ALL portfolios setup for a particular Client/Customer Account.

    <p>POLN</p> Signup and view all the answers

    Which of the following set of MILVUS Command options is used to check security & holdings reflected in MILVUS

    <p>SELI, SEHO,HOMA &amp; HOPR</p> Signup and view all the answers

    From the print screen above, identify the Trade Date of the sample trade.

    <p>25th April 2022</p> Signup and view all the answers

    From the print screen, the field below identifies as the.

    <p>Settlement Date (Contractual Settlement Date provided)</p> Signup and view all the answers

    From the print screen, which TWO of the following ways the related trade could’ve possibly been instructed;

    <p>STE or STP via ISO &amp; BANCS &amp; STP in MILVUS.</p> Signup and view all the answers

    A Purchase or Sale trade processed directly into MILVUS would require;

    <p>A FIT Template to be sent to FX Team</p> Signup and view all the answers

    To identify if a security position is unavailable due to lending, which 2 of the following holdings column in MILVUS provides us this information;

    <p>Quantity Unavailable &amp; Quantity Held</p> Signup and view all the answers

    In what circumstances we could release trade in milvus screen 40 for BOTH manage & non-manage currency?

    Signup and view all the answers

    What is risk and impact if SUSP SETT isn’t flag correctly by ops team?

    <p>All of the above</p> Signup and view all the answers

    Identify the main functionality of the STPMAN system in your daily activities;

    <p>To identify STE/STP &amp; manual trade status flowed through from ISO/BANCS &amp; repair or rekey trades rejected into MILVUS</p> Signup and view all the answers

    Identify the TWO status of trades in STPMAN that require further repair or rekey;

    <p>MLV &amp; RJ2</p> Signup and view all the answers

    Which option to check error status for trade fall in RJ2?

    Signup and view all the answers

    If swift cancellation needed to send to MS

    <p>True</p> Signup and view all the answers

    If FX notes required for replacement trade

    <p>False</p> Signup and view all the answers

    Please list the 5 Basic Golden Rules.

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    Our senior management key Theme for this year transition?

    <p>Hold your ground!</p> Signup and view all the answers

    What is NIGO?

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    Please list down the message type for below: MT540

    Signup and view all the answers

    Please list down the message type for below: MT543

    Signup and view all the answers

    Please list down the message type for below: MT547

    Signup and view all the answers

    Please list down the message type for below: MT545

    Signup and view all the answers

    Please select the correct identifier for the swift message shown below.

    <p>Clearing agent bic code &amp; Net settlement amount</p> Signup and view all the answers

    Based on the Securities Identification Code, which of the below is used by Euroclear?

    <p>All of the above</p> Signup and view all the answers

    What is BUY-IN ?

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    Name 3 BUY-IN Market

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    What is the purpose of Terms & Conditions (T&C)?

    <p>Client Cut off</p> Signup and view all the answers

    Based on clearstream Term and condition please advise EUR client cutoff for CBL/CBL DVP trade that client loads via RBCONE.

    Signup and view all the answers

    Based on clearstream Term and condition please advise EUR client cutoff for CBL/CBL DVP trade that client loads via RBCONE and follows CSDA settlement.

    Signup and view all the answers

    Based on clearstream Term and condition please advise EUR client cutoff for CBL/CBL DVP trade that client sends as FAX instruction and follows CSDA settlement.

    Signup and view all the answers

    Client sends a FAX instruction, this is considered as Non-STP trade.

    <p>False</p> Signup and view all the answers

    Client inserts a trade via RBCONE, this is considered as STP trade.

    <p>False</p> Signup and view all the answers

    Please advise NOK market cutoff

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    Please advise EUR market cutoff

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    Please advise USD market cutoff

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    What is the difference between market cutoff and client cutoff?

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    Please advise what is cash/currency cutoff

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    Please advise what is agent cutoff

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    What is the document(s) to check if TC receive a manual booking instruction (in PDF) via email?

    Signup and view all the answers

    What is the action to be done if we receive clean cash payment received via FAX/email?

    <p>EP to do the pre check and send to <a href="mailto:[email protected]">[email protected]</a></p> Signup and view all the answers

    Which document will be updated annually and signed off by RBC Investor Treasury Services (Malaysia) Sdn bhd and RBC treasury Services Bank S.A.Lux/Dublin/Zurich? The document outline the services each group, will provide in order to meet joint client expectation within established timeframes and criteria.

    <p>Service level of agreement (SLA)</p> Signup and view all the answers

    in case the short sale trade has been cancelled or replaced, there is no need to inform TDS. PATM must be copied in each communication sent to TDS. Trustee and Depositary Services Luxembourg will analyse the incident and take appropriate action with the Manco.

    <p>False</p> Signup and view all the answers

    Any exceptional/non-standard process requested by the client must be validated by the TM senior management in Dublin (Ciaran Carabini – Clare Scully) and closely monitored by the supervisor/desk manager. COOS mailbox and AD TM Lux (Stephanie Marcelli) will be put in cc. The requestor of the bespoke process is required to raise Change control framework document but CCF doesnt need to be approved by local KL management team

    <p>False</p> Signup and view all the answers

    For any manual booking in BANCS or Milvus, TC need to immediately alert Fund accounting department to ensure accurate NAV.

    <p>True</p> Signup and view all the answers

    In Manual Trade amendment cases, if the volume for a client on a particular day are more than 5 trades, TC KL needs to request sign off from Senior Management ([email protected]/[email protected])

    <p>True</p> Signup and view all the answers

    CSDR - CASE 2

    <p>C</p> Signup and view all the answers

    CSDR - CASE 3

    <p>D</p> Signup and view all the answers

    CSDR CASE 4

    <p>A</p> Signup and view all the answers

    CSDR CASE 5

    <p>B</p> Signup and view all the answers

    CSDR CASE 6

    <p>C</p> Signup and view all the answers

    Study Notes

    ISO Error Handling

    • If the Agent/Broker BIC code is not valid in ISO/BANCS, it will show an error code.
    • YAKO REASON_02 error code means the trade is instructed with incomplete details – missing SSI and economic details.
    • To add a 70E field for a client in ISO, the option is in the "Add 70E" section.

    ISO Trade Instructions

    • ISO accepts securities code types such as ISIN, SEDOL, and CUSIP.
    • When inputting a manual booking, the correct flow is to release the trade from ISO, which will then go to BANCS.
    • FETALULL is required when TC instructs an in-house FX instruction in ISO for the Beneficiary Institution.

    ISO Error Codes

    • If the TD or SD for a trade is incorrect, the error code will be YCKO REASON_01.
    • If the TD for a trade falls on a weekend, the error code will be YCKO REASON_01.
    • YAKO REASON_02 error code means the trade is instructed with incomplete details – missing SSI and economic details.
    • If a trade is instructed with the same TD and SD, the error code will be duplication error.

    ISIN Setup

    • The correct team for ISIN setup queries is the ISO team.
    • If a trade is instructed with ISIN, but it has not been set up on ISO, the ISO team will assist with setup.

    ISO Workaround

    • If the TD for a trade falls on a weekend, the workaround is to change the TD to the next working day.
    • If a trade is instructed with the same client reference, there will be a duplication error on ISO; the workaround is to change the client reference.
    • The maximum number of characters for a client reference on ISO is 20 characters.

    BANCS

    • If a trade is in error status in BANCS, the workaround is to repair the trade by checking the details and resubmitting.
    • To view client inbound/outbound SWIFT in BANCS, the folder option is "SWIFT Messages".
    • To view SEDOL captured in BANCS for a booking, the folder option is "SEDOL Capture".
    • To input clearing code and account for a booking in BANCS, the option is in the "Counterparty Details" section.
    • The MILVUS reference can be found in BANCS once the trade is posted.

    MILVUS

    • To check all portfolios set up for a particular client/customer account in MILVUS, the command option is "PORT".
    • To check security and holdings reflected in MILVUS, the command options are "SEC" and "HOLD".
    • To identify if a security position is unavailable due to lending, the two holdings columns in MILVUS that provide this information are "Lent" and "Borrowed".
    • A Purchase or Sale trade processed directly into MILVUS would require a "Confirmation" and "Settlement" instruction.

    STPMAN

    • The main functionality of the STPMAN system is to manage trade exceptions and repairs.
    • The two status of trades in STPMAN that require further repair or rekey are "Error" and "Repair".
    • To check the error status for a trade fall in RJ2, the option is in the "Error Status" section.

    Golden Rules

    • The 5 Basic Golden Rules are:
      • Verify the details before processing the trade.
      • Ensure the trade is matched with the correct client and account.
      • Check the trade details against the instruction.
      • Verify the trade is settled correctly.
      • Ensure the trade is reported correctly.

    Others

    • NIGO stands for "Not In Good Order".
    • The senior management key theme for this year is "Transition".
    • The message type for MT540 is "Statement".
    • The message type for MT543 is "Statement".
    • The message type for MT547 is "Payment".
    • The message type for MT545 is "Statement".
    • BUY-IN is a process where a securities depository buys securities to fulfill a delivery obligation.
    • The purpose of Terms and Conditions (T&C) is to outline the rules and regulations of a trade.
    • The document to check if TC receives a manual booking instruction (in PDF) via email is the "Trade Confirmation".
    • The action to be done if we receive clean cash payment received via FAX/email is to update the trade status.
    • The document that will be updated annually and signed off by RBC Investor Treasury Services (Malaysia) Sdn Bhd and RBC Treasury Services Bank S.A. Luxembourg/Dublin/Zurich is the "Service Level Agreement".
    • The document outlines the services each group will provide in order to meet joint client expectations within established timeframes and criteria.

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    Description

    Test your knowledge of ISO/BANCS trade booking errors with this quiz. Identify the correct actions to take for various error codes and incomplete trade details, as well as the accepted securities code types in ISO. See how well you know the process of adding 70E field for clients and identifying issues with TD or SD for trades.

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