Procedure documentationAccepting/Rejecting a Clearing

 

When you have received confirmation that the clearing of your financial transaction has been accepted or rejected, perform the Accept/Reject Clearing function (transaction TREA_CLEAR).

  • The central counterparty has rejected the clearing.

    When you execute this function, the business partner in the financial transaction (role Counterparty) is replaced by the new business partner (= the business partner assigned to the external account) and the payment details are updated.

    The financial transaction acquires the clearing status Clearing Accepted.

    The flows of the transaction acquire the Cleared indicator. The transaction flows are no longer relevant for payment. All other payments are made using the clearing account. Although the transaction flows are still relevant for posting, they are now no longer posted using bank clearing but instead using the new account symbol 9.9 (technical clearing: Clearing).

    See also: Posting Logic for Flows on Clearing Accounts

    If you use Trade Repository Reporting (TRR), the system creates a trade repository object (TARO) with the action type 45 Notice and a TARO with the action type 10 New. Within the function, you specify in the Trade Repository Reporting area the external transaction ID used by the financial transaction after novation.

    If, when novation is performed, the financial transaction has not yet been reported to the trade repository (and consequently there is no TARO with the status Sent for this financial transaction), only the existing TARO is updated.

  • The central counterparty has accepted the clearing.

    • The financial transaction is presented to another central counterparty for clearing.

      Another clearing account is assigned and a new planned clearing date is specified.

      The clearing status of the financial transaction remains unchanged (status "Clearing").

    • Notice is given for the financial transaction.

      Perform the Reject Clearing function. The financial transaction acquires the clearing status Clearing Rejected.

      In a second step, you give notice for the financial transaction using the transaction management functions (transaction FTR_EDIT).

Procedure

  1. Call the function under Start of the navigation path External Accounts Next navigation step Clearing Next navigation step Accept/Reject Clearing End of the navigation path (transaction TREA_CLEAR).

  2. In the General Selections area, use the following criteria to select the relevant financial transactions:

    • Company Code

    • Transaction

    • Product Type

    • Transaction Type

    • Clearing Account

    • Counterparty

    • Up to Planned Clearing Date

    In the Control area, you specify whether the selected transactions are accepted or rejected for clearing or whether the clearing partner needs to be replaced. If you want to replace the clearing partner, you have to enter the new clearing account and the planned clearing date.

    In the Payment Details area, you specify whether the payment details are taken from the clearing provider or from the external account.

    In the Trade Repository Reporting area, you can choose between the following options:

    • New external trade ID

      If you already know the new external trade ID of the financial transaction, you can enter it directly for the specific trade repository.

    • Delete External Trade ID

      Select this option if the financial transaction needs to acquire a new external trade ID after novation but you do not yet know the new external trade ID. The system then deletes the assignment of the existing external trade ID for the financial transaction. If you have set up the use of an interim trade ID in Customizing for Trade Repository Reporting, the system generates an interim trade ID and assigns it to the financial transaction.

    • Keep External Trade ID

      Select this option if the financial transaction needs to retain the existing external trade ID.

  3. You can perform a test run.

  4. Choose Execute.

  5. The system issues a message log and a list of the financial transactions that were successfully processed.

  6. When the test run has returned the desired result, repeat the function in the update mode.