FTT
Financial transaction taxes (FTT) levy a tax on each unique instance of the buying and selling of financial assets.
Trades Data is Imported from different Source Systems into the FTT Trades Table. These data are verified and processed to check if FTT Tax is applicable for the Trades. For eligible Trades, the FTT Tax value is calculated and later on Invoices are created and Declarations are Generated.
Different Source Systems
Trade data for FTT is Pulled from 3 source systems / data feeds.
- FISS
- DW
- Stock Loan / Global 1 (SL)
Each source system is sending Trade data in different formats and structures. Individual services are created to Import each data feeds. It validate the source files and columns and Inserts/maps the data fields into MRT_HFCLAIMSTRADES table in a standard form.
Below Table will explain the column mapping of the data feed to FTT Tax system.
| FISS Data Feed(CSV file) | FTT Trades Table |
| Company | Company |
| CounterParty | Counterparty |
| CounterPartyName | Not Used |
| SDS | A/C No |
| FISS Instrument | Not Used |
| Instrument Name | Not Used |
| SEDOL | Sedol |
| ISIN | ISIN |
| RIC | Not Used |
| Stamp Ind | Stamp ind blank (If data feed is Blank then set to “Y”, else “N” |
| Book | Book |
| Ticket | [EXTRAFLD] |
| Trade Tag | Unique ref |
| Event | Event |
| Origin | Origin |
| Trade Status | Trade status |
| Trade Status | [_CLOSEDFLD] (If Trade status is CANCELLED , then _CLOSEDFLD is set) |
| Across Mnth Amend | Not Used |
| Entry Date | Not Used |
| _KEY (Generated Using the format "F1FR"+'Unique Ref'+ "_COB_"+ STR('COB date') | |
| Trade Date | Trade date |
| Value Date | Sett date |
| Trade Currency | CCY |
| Nominal Qty | Nominal |
| Sett Nom Qty | Not Used |
| Purc / Sale | Buy sell (If Puc/Sale is “P” then “BUY” else “SELL”) |
| Price | [Temp1] |
| Principal | Deal amount |
| Sett Currency | Sett CCY |
| Net Consid | Not Used |
| Sett Net Consid | Not Used |
| Chrg Type | FTT applied |
| Chrg Currency | Not Used |
| Chrg Amount | FTT chgd at src |
| Chrg Override Flag | FTT applied (if Charge Type is FTT and Chrg Override flag is Y then set to “Y”) |
| FTT Condition | Not Used |
| Counterparty Type | Clty code |
| Exempt Flag | Not Used |
| Netted Flag | Basis (If Netted flag is Y, then NET else GROSS) |
| Netting Batch | Not Used |
| Depot | Not Used |
| Depot Account | Depot |
| Depot Country | Settlement location |
| Inst Risk Country | Not Used |
| Inst Issue Country | Not Used |
| Issuer Country | Not Used |
| Amended By | Amended by |
| Amending | Amending |
| Cancelling | Cancelling |
| MIC Code | MIC |
| [Temp2] (This Value Holds the CREATEDUP value) |
The Data Import completes Based on the above Mapping and Trades Reconciliation happens . After the Import is completed, the Post Import Rule 143#TRADESIMP, is triggered, which in-turn Enriches the data and Applies the Exoneration codes on the Incoming trades.
FISS Data feed
Below Diagram depicts how the FISS Trade data is flowing into the Trades Table and get Enriched using the statics and Sets the Exoneration codes.
Exoneration Codes explains the reason why a trade is excluded from FTT Tax calculation.
In Progress ....
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