OASIS user guide - Hong Kong Exchanges and Clearing Limited

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PART IV – Appendix Appendix 3 — Full List of Collateral Movement Request Status & Reject Messages Table 3.1 – Full list of available status Status Description Margin Call VERIFIED Margin Call Issued PENDING Margin Call pending settlement CANCELLED CHECK_SDI_REC Margin Call cancelled Error occurred while margin call is triggered due to missing static setup Collateral Deposit Request VERIFIED 4EYES Collateral Deposit Request is received by OTC Clear Maker submitted the Collateral Deposit Request; pending the approval from Checker before sending to OCT Clear. HELD The Collateral Deposit Request is under processing by OTC Clear CANCELLED CHECK_SDI_REC The Collateral Deposit Request is cancelled or Rejected by OTC Clear Error occurred while Collateral Deposit Request is processed due to missing static setup Collateral Withdrawal Request 4EYES Maker submitted the Collateral Withdrawal Request; pending the approval from Checker before sending to OCT Clear. HELD The Collateral Withdrawal Request is under processing by OTC Clear CANCELLED The Collateral Withdrawal Request is cancelled or Rejected by OTC Clear PRE_CCP_APPROVAL Collateral Withdrawal Request is sent to OTC Clear CCP APPROVAL / CCP 4EYES/Verified The Collateral Withdrawal Request is under processing by OTC Clear TO_REJECT The Collateral Withdrawal Request will be rejected by OTC Clear Table 3.2 – Full list of Reject Message Reject Reason Description Auto Cancel The request was cancelled by the system as Checker has not approved the request prior to the close of the withdrawal/deposit window Outside Business Hours Request was made outside of the withdrawal/deposit window September 2013 107 Page 100 of
PART IV – Appendix Appendix 4 — Additional Features to settle margin call in non-base currency Currently, OTC Clear will automatically issue the margin call (EOD Initial Margin (“IM”) call and intra-day margin call) in base currency (HKD). The following procedure is to facilitate and provide guidance on settling margin call in both base and non-base currencies (in normal days or currency holidays): 1. EOD IM Call at 8:30 a.m. HK Local Time Case 1: Settle in base currency (HKD) Member can refer to “WEB ERSCollateral report” (generated on End of prior day) to retrieve the (indicative) IM call amount in base currency (if any) in advance. On next day morning member will see the actual call information shown in OASIS and use RTGS to settle HKD. Case 2: Settle in non-base currency In this case, member has to determine minimum amount of settling margin call in non-base currency: Step 1 - Member opens “WEB ERSCollateal report” and check aggregated collateral in HKD and Initial Margin (published on end of prior business day) Step 2 – Member uses the FX rates (member is advised to settle margin call in USD as “7.75” – the lower bound of USD/HKD FX rate can be used as a conversion rate. Other FX rates (e.g., EURHKD, CNHHKD) can be provided by OTC Clear via email upon request from members) and check “WEB IM Collateral report” (published on 1 st portfolio novation cycle – i.e. roughly 8:30 a.m. HK local time) for haircuts information. Step 3 - Member uses the following formula to manually calculate equivalent call amount (Here we use USD as an example) [(Initial margin - Aggregated Collateral in HKD) / USD FX rate] / (1 – USD haircut) The minimum margin call amount (to be settled) in USD equivalent will be: September 2013 107 Page 101 of
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