This is the currency in which commission will be applicable. The option list will display all the currencies available at your bank.

Here, you can specify the basis for calculating commission on the given currency. The options
available are:

• 30(Euro)/360
• 30(US)/360
• Actual/360
• 30(Euro)/365
• 30(US)/365
• Actual/365
• 30(Euro)/Actual
• 30(US)/Actual
• Actual/Actual

The above fields are not mandatory at the product level. If not specified, the system picks up the interest basis defined for the currency and uses that to calculate commission. These fields can be changed anytime at the product level because the existing contracts will use the old commission basis. During copy operation, all the commission calculation basis parameters existing for the product needs to be copied to new product.

The attributes defined for a product will be automatically applied to all new contracts involving the product. However, you have an option to stop the application of a commission on new contracts involving the product. This can be achieved by ticking the Stop Application button for the component in the ICCF Rule Details screen.

However, the existing contracts will continue to have the commission rule applied on them. If the rule is used as a periodic commission, you can stop its application for existing contracts, by specifying a Stop Date in the Contract ICCF screen.

At any time, you can revoke the commission rule and reapply it for new contracts by unchecking the Stop Application button.

The commission details defined for a product will be automatically applied on a contract involving the product. However, you can change certain attributes of a commission, for a specific contract.

Some products may need more information on commission processing, which are specific to the product. These inputs are entered in the Product Preferences screen.