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Non-Lead Deal 

  1. Advise FinClear of the deal terms and settlement date as soon as you receive your allocation from the Lead Manager.
  2. FinClear opens or confirms your placement account (no HIN required).
  3. Send the completed booking sheet. Confirm an underlying account exists for every allocation.
  4. FinClear books the sale to the placement account and books buys against each of your allocations.
  5. Day before settlement: FinClear reports outstanding trades and funding. You chase counterparties and cover or arrange funding for any shortfall.
  6. Settlement date, before the 11:30am CHESS cut-off: funding must be in place. If it isn't, a partial amount is matched with the delivering broker and outstanding trades settle the following day.