Closing Rates Screen
Table of Contents
Summary
The Closing Rates Screen is the point at which the automated End-of-Day revaluation rate – the rate the Ledger Sweep would otherwise apply unattended to convert positions into functional currency – meets human judgement before EOD reports are generated. It shows Traders and Finance the original sourced rate, any override already applied, and the current live market rate side by side, so that a rate which looks wrong or stale relative to the live market can be caught and corrected before it propagates into every downstream EOD figure that depends on it.
Detail
Reviewing before the rate propagates
Every currency's End-of-Day revaluation rate is sourced automatically ahead of the EOD run, but an automatically-sourced rate can be stale, misquoted, or simply out of line with a fast-moving market at the moment EOD is about to be struck. The Closing Rates Screen exists to put that rate in front of a human – Trader or Finance – before it is baked into every book's revaluation, rather than only discovering an error after EOD reports have already been produced and distributed downstream.
Three rates shown side by side
The screen presents, for each currency, the original rate as sourced, any override a user has already applied, and the current market rate as observed live. Showing all three together is what makes the review actionable: a user can see at a glance whether the sourced rate has already drifted from the market, whether someone has already intervened, and by how much an override (existing or proposed) differs from where the market currently sits, rather than having to cross-reference three separate places to reconstruct the same picture.
Overriding the rate
Where the sourced rate is judged wrong or unsuitable, a Trader or Finance user can override it directly on this screen. The override then becomes the rate the EOD revaluation actually uses – flowing into the FX Spot Revaluation types the Ledger Sweep applies – in place of the originally-sourced value, and it is this overridden rate, not the raw sourced one, that subsequent EOD reports will reflect.
See also
- Currency – hub note.
- Ledger Sweep – the automated process this screen's rate feeds into.
- FX Spot Revaluation Types – the three revaluation types that consume the reviewed or overridden rate.
- Functional Currency – the currency positions are converted into using this rate.