GIVEUPS - Give Up Commission Statements
What is GIVEUPS
This procedure is a simple listing of F&O trades that have been passed/given-up to another broker. This operating company is only interested in re-assigning the trades and receiving the commission. The commissions are collected from either the counter-party or the broker involved in the give-up, this is specified in CLI static setup.
There is a informal report whereby statements listing the trades and commissions are produced as at any cutoff date. A separate statement is produced for every combination of Client/Broker/Currency. These can be printed immediately or produced as temporary files ready for Advanced Print (email) or automated Email of all selected files using their CLI static email addresses.
The formal statement for the next month to be processed will produce a secured copy of the statements in the company CLIDOCS folder (ready for email/printing), will also create the SI accounting documents (authorized or unauthorized) and will archive the F&O trades for historical viewing/analysis using TENQ.