A quick deal is a short term money or foreign exchange deal that is not yet complete. You can use quick deals to enter principal details for several short term money or foreign exchange deals at the same time. You can also use quick deals to collect quotes for these types of deals.
To make such deals eligible for settlement and accounting, you must return to your quick deals at a later time and complete the deal entry.
You can enter quick deals only for short term money or foreign exchange deals.
Use the Quick Deals window to enter short term money or foreign exchange deals or to collect quotes for those types of deals. You can enter one or more quick deals for the same company and deal type.
In the Quick Deals window, select a company and deal type for the quick deals.
Note: All the quick deals you enter must be for the company and deal type combination you select.
In the Value Date, Portfolio tab region, select a deal subtype.
Select the counterparty with whom you are entering into the quick deal. Data automatically appears in the Value Date, Product, and Portfolio fields.
In the Currency, Amount tab region, select a currency.
In the Reference Amount field, enter the amount of the quick deal.
In the Maturity Date, Interest tab region, enter a maturity date.
If the interest on this deal is to be paid on the deal start date, enable the Prepaid Interest check box. You must enter a maturity date to enable this option. When you accept the deal, Treasury includes prepaid interest in the cash flows on the start date of the transaction.
Select the day count basis that you want to use to calculate interest on the deal in the Day Count Basis field.
Choose the rounding rule that you want to use to calculate interest in the Interest Rounding field. The possible choices are: Nearest, Round Up, or Round Down.
Choose the day that you want to include when you calculate interest on the deal in the Interest Includes field. The possible choices are: First Day, Last Day, or Both Days.
Note: If you select Both Days for Interest Includes, you cannot use the 30/360, 30E/360, or 30+/360 day count basis.
In the Rate, Deal Number tab region, enter a rate.
If you are acting as a broker for a client, select the client.
In the Dealer, Deal Date tab region, select the dealer.
Save your work.
If you want to accept a quick deal quote and change it into a deal, in the Status field of the Value Date, Portfolio tab region, select Accepted. Save your work.
To enter multiple quotes for the same deal, use the Counterparty Deal Quotes window.
For short term money deals, you must complete the Deal Type, Deal Subtype, Product, Currency, Date, and Reference Amount fields in the Quick Deals window before you enter quotes.
For foreign exchange deals, you must complete the Deal Type, Deal Subtype, Value Date, Currency, Sell Currency, and Reference Amount fields before you enter quotes.
In the Quick Deals window, complete the Deal Type, Deal Subtype, Product, Buy Currency, Date, and Reference Amount fields.
Choose the Enter Quotes button. The Counterparty Deal Quotes window appears.
Select a counterparty for the quote.
In the Trans Rate field, enter the rate the counterparty quoted.
Repeat steps 3 and 4 for each quote you receive.
Save your work.
If you want to accept a quote, check the Accepted check box next to the quote you want to accept. The quote is converted into a deal and is checked against the appropriate deal limit and counterparty limit.
If you enter a quick deal, you must return to that quick deal to complete the details at a later time. Typically users make this part of their daily routine by completing their quick deals at the end of the day when they are less busy.
For short term money deals, define the common deal details for the deal in the Short Term Money window. See: Common Details for Short Term Money Deals.
In the Quick Deals window, query the quick deal you want to complete. A list of deals that match your criteria appears.
Select the deal you want to complete.
In the Status field of the Value Date, Portfolio tab region, select Accepted.
Choose the Complete Details button. If it is a foreign exchange quick deal, the Foreign Exchange Spot/Forwards window appears. If it is a short term money quick deal, the Short Term Money window appears.
Complete the deal details. For information on completing a foreign exchange deal, see: Entering Foreign Exchange Spot or Forward Deals. For information on completing a short term money deal, see: Completing Short Term Money Quick Deals.
Use the View Quick Deals window to view the details of a quick deal.
In the View Quick Deals window, select the company and the deal type for the quick deals you want to view.
Insert your cursor in the tab region of the window and query the quick deal you want to view.