A party group is a user-defined category or classification that you can assign to parties that serve similar functions or that share the same vocational designation. For example, you could define a party group called "Investment Banks" and assign this party group to parties that serve a company as an investment bank.

Party groups give users an additional, narrower criterion with which to query counterparties. For example, if you create a party group for all domestic subsidiaries and another for foreign subsidiaries, then you can easily locate every counterparty that is a domestic or foreign subsidiary.

Once you define a party group, you can assign a counterparty to that group by entering a value in the Party Group field in the Counterparty Profiles window. See: Counterparty Profiles.

Defining party groups is optional.

Setting Up a Party Group

Use the Party Group Codes window to define groups of parties that serve similar functions.

To set up a party group

1. In the Party Group Codes window, enter a unique name for the party group code.

2. Save your work.

3. Enter a description of the party group code.