This module is for broker firm to handle rebate management for either Fund House (CLIENT REBATE) or Non-registered A/e.
To
use the system as CLIENT REBATE: -
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Original
A/e who handle a specific Fund will need a new A/e Code.
E.g. Original code is
C1 New code for C1 is C188, 88 is for FUND A.
When FUND A input an order with comm. 5%, RUNNER REBATE
Rate 0.35, within which 0.25% is 2ND REBATE for FUND/CLIENT.
Then a trade
of $100,000 will have commission $500, RUNNER GROSS REBATE is $350, 2ND REBATE
TO FUND/CLIENT is $250, thus net RUNNER REBATE is $100. The rest will be for CO.
Note: Since SB does not have an A/e account for the FUND manager,
user need to print AE REBATE REPORT FOR C188 to show rebate for FUND A:
Turnover
Comm. 1st rebate 2nd rebate
100,000 500 100 250
To
use the system for Non-registered A/e
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E.g. An A/e has not
passed examination, and his client a/c can use an existing A/e with
qualification to handle his client's account. The 2nd rebate as shown in above report can be
used for this purpose.
I.e.: The 1st rebate
will be for the qualified A/e, and the 2nd rebate will be the portion for the
new A/e. When the New A/e has passed the exam. A new A/e code will be for
him. The 2nd A/e code will no
longer be used.