Table of Contents
Navigating the Period-End Checklist
Managing the Period-End Checklist
Downloading Current or Prior Period-End Checklists
Introduction
The Period-End Checklist enables clients to review and confirm their required processes each period prior to receiving accounting entries and/or deliverables from Chatham. Once the checklist has been completed and submitted, Chatham is notified and can proceed with our internal processes to help our clients through period end.
It is important to note that certain sections are required to be completed prior to your period end. Failure to complete the checklist on time may result in a delay of your deliverables.
Navigating the Period-End Checklist
From the Welcome page, navigate to Operations > Period End Checklist:
Access to the checklist or related workflows, such as entering credit spreads or custom spot rates (if applicable), are granted through user permissions in ChathamDirect. For assistance with permissions, please reach out to your ChathamDirect administrator or your Chatham representative.
The main view of the Period-End Checklist displays the current period-end date and drop-down arrows to expand each of the checklist sections:
- Note: Prior to completion, we recommend that you check the Period-End Date at the top of the page, as that will represent the date for which the current checklist applies. The system will automatically update that date on the 11th of each month to reflect the the next period-end date.
After filling out each section, there is a Send Confirmation of Completion button to complete each section:
Note: confirmation is required for each section.
The questions can be answered by one or multiple users, and each section can be submitted separately. This allows for clients to separate duties on the checklist if required for internal audit purposes. ChathamDirect tracks which user answers each question and what details are provided, which can be view in the Period-End Checklist report which is explained later in this article.
Managing the Period-End Checklist
Not all sections apply to every client, as they are dependent on your program and setup within Chatham’s system. Also, depending on your answers additional action may be required. Once submitted, if you need to make any changes to a submitted answer please contact your Chatham representative.
Trade population is complete and accurate:
For the New Trades and Existing Trades sections, you simply need to provide a Yes or No answer.
- No – There has been no new activity (new trades, terminations, de-designations, etc.) since the last reporting period.
- Yes – If you answer Yes to any questions, you will also need to confirm whether or not you have taken any required action (for example, confirming new trades are loaded or terminations have been completed).
For the New Counter Party Relationships section, you will be asked to review the New Relationships In The Last 90 Days and the Existing Counterparty Relationships select Yes or No.
For the New Relationships In The Last 90 Days:
- No – There has been no new relationships or all relationships listed below are accurate (new trades, terminations, de-designations, etc.) since the last reporting period.
- Yes – If you answer Yes you will be prompted to load the relevant transactions/relationships. Once all relevant relationships are loaded and listed you can mark the question as No and move to send completion
For the Existing Counterparty Relationships
- No – There have been no amendments, modifications or credit support annexes added to an existing relationship since the last reporting period.
- Yes – If you answer Yes you will be prompted to answer a second question confirming with a Yes or No if these changes have been updated in Chatham Direct
In the Hedged Transactions or Hedged Items section you will be asked to confirm with a Yes or No if there have been changes in your hedging portfolio that is not currently reflected in Chatham Direct
- No – There have been no amendments, modifications or credit support annexes added to an existing relationship since the last reporting period.
- Yes – If you answer Yes you will be prompted to fill out a text box to list those changes.
- Note: you can download the Example of changes to hedge items PDF to view a list of potential changes that would prompt you to select Yes
Credit Spreads, Markit Data, and CDS:
Relevant Credit Spreads, Markit Data, CDS, ISDA, and CSA Terms are updated:
This section deals with Markit Data code confirmation (only applicable for clients with a current active Markit code)
- No, I need to make an update – The current code is no longer correct, and the sector, region, or rating needs to be updated. (Click the information button to see more details about Markit codes)
- Yes, code is correct – The current Markit Data code is correct, and no changes are needed.
This section deals with credit spreads (only applicable for clients providing credit spreads to Chatham):
Select Yes or No if you have updated/verified your credit spread for the current period . Selecting No will ask you to update the credit spread or contact your Chatham Representative
This section deals with CDS (only applicable for clients using CDS as a source of Credit Spreads):
Select Yes or No if you are still using CDS. Selecting No will prompt a second question to confirm if you have contacted Chatham about the change
Foreign Exchange Rates
Please select Yes or No if you will be using Custom FX Spot Rates to value your trades at period end.
- No – I will not be using Custom FX rates and instead use Chatham's FX Rates to value my trades at period end.
- Yes - I will be using custom FX rates. If you answer Yes you will be prompted to answer the follow up question confirming that you have entered the rates in Chatham Direct or sent them to your Chatham Representative. There is an embedded link in the question to take you to the Custom FX Spot Rates page
Please select Yes or No if you have entered in your Final Settlement Rates in Chatham Direct. There is a link in the question to help navigate you to the Final Settlement Rates page
- No – If you select no, please submit your rates on the Final Settlement page or contact your Chatham Representative
- Yes - I have entered in my rates or sent them to my Chatham Representative.
Commodities
Please select Yes or No if you will be using Custom Commodity Indices at period end.
- No – I will not be using Custom Commodity Indices and instead use Chatham's Commodity Indices to value my trades at period end.
- Yes - I will be using Custom Commodity Indices for Period End. If you answer Yes you will be prompted to answer the follow up question confirming that you have loaded those indices in Chatham Direct or sent them to your Chatham Representative. There is an embedded link in the question to take you to the Custom Commodity Indices page
Please select Yes or No if you have entered in your Commodity Settlement Rates in Chatham Direct. There is a link in the question to help navigate you to the Commodity Settlement Rates page
- No – If you select no, please submit your rates on the Commodity Settlement Rates or contact your Chatham Representative
- Yes - I have entered in my rates or sent them to my Chatham Representative.
Downloading Current or Prior Period-End Checklists
To download the current Period-End control report, click the PDF icon at the top of the page. This includes each question, the answer, who answered and the date and time as well as who submitted each section. If this is required for a prior checklist, please reach out to your Chatham Representative and one can be provided:
