ASETT - Automatic Settlement by 'CLI' Static
What is
To use ASETT, the relevant information will need to be setup in 'CLI' for each account that requires automatic settlement of their futures trades. The selections entered in ASETT are very simple, mainly directing what codes and dates to use on the accounting documents produced from the settlements. The other selection is to enter a cutoff trade date. This process is applicable to Client/House accounts and Broker accounts (when F&O is operated as Dual procedures)
This process can be setup to run as an overnight batch in DEP.TXT with parameters as …
c:\itas\Exec\t\t19 MenuBatch xx DEP /output=file/LeaveDays=2/docdate=TODAY /LMESETTDAYS=Y
The Leavedays parameter specifies to exclude trades that have a trade date since last days of ITAS run date. This enables the operating company to check/confirm their business with their broker before the trades are used in settlement processes. The LMESETTDAYS=Y command is applied when auto settlement of LME market trades is required. The number of business days (0-99) from TCCM static is applied with ITAS rundate e.g. If LME Copper settlement is T+2, entry is 2 and automated settlements run during the calendar day of Monday 28Apr10 would settle positions for prompt date 30Apr10 AND would preferably use the TPRICE of 28Apr10 instead of the latest Spot TPRICE for the prompt date.