Effective Study Techniques for the ACI 3I0-013 Exam

Economic: such as initial and final amounts, rates

Product identification: counterparty, currency, index

Identification of the dealer: identity, title, direct phone number

Dates including the trade day: initial day, final day, settlement day

Finland did not participate in TARGET but it does participate in TARGET2

The cut-off time for TARGET2 is 20:00 (8.00 p.m.) CET, whereas the cut-off time for TARGET was 18:00 (6.00 p.m.) CET

TARGET2 runs on a single shared technical platform whereas TARGET did not

TARGET2 processes payment orders denominated in EUR as well as USD

Final settlement of interbank funds transfers on a continuous, trade by trade basis throughout the day

Lower costs through fewer payments passing through nostro accounts

Lower costs through less labor intensive methods

Reduced market risk due to smaller values of open positions

The date by which the interest payment on an operation must be made

The last date by which the minimum reserve amount can be paid to the central bank

The date, on which settlement must be made on the contracted amount or the differential amount of an operation

The date a deal is processed

Non-cash emerging markets collateral

Cash collateral in JPY, your base currency is GBP

Cash collateral in USD, your base currency is USD

Non-cash high yield collateral

3.20%

3.21%

3.23%

3.30%

GBP 10,000,500.00

GBP 10,000,164.38

GBP 10,000,493.15

GBP 10,000,166.67

The counterparty does not need to be notified about any alterations to original payment instructions or SSIs.

Any alterations to original payment instructions or SSIs are to be agreed to by the relevant parties involved either by fax or e-mail.

Alterations must be agreed to by the parties involved via a written legally binding document or an authenticated confirmation message.

Alterations need to be agreed to by the relevant parties involved and must be verbally confirmed.

Amend the rate yourself

Ask the settlements clerk to amend the rate for you

Ask the dealer to manually amend the rate on the ticket and then pass it to the settlements clerk to amend

Make no amendment

They are scanned for money laundering activities and afterwards destroyed

They are forwarded to the deal capturer to check the completeness of the deal

They are matched as soon as possible after receipt

They are archived after reception