In this article, we explain how to manage subscription orders in BFS. Subscription orders enable the user to subscribe to new share issues from the selected account.
If the menu option Subscription Order is missing from the action menu, navigate to System Data > Account Rule Types. Account Rule Types exist in order for us to enable certain actions for various types of accounts.
Create a Subscription Order
In the action menu at the account click on Subscription Order and select an instrument.
Settlement Account: the selected account or an external account, like Autogiro. Order route: The default execution interface on the instrument will be preselected default. If the instrument has more than one execution interface it can be selected in the drop-down menu. Order Type: collected from what is set on the instrument. Last Payment Date: Expected Trade Date: Expected Settlement Date: Limit price: collected from the instrument. Quantity: Reserve assets: If assets should be reserved within the customer account. External account: This is used if the securities should be delivered to another custodian for settlement.An instrument receiver (external account) must be created before it appears in the drop-down menu. Partner: Comment: Write a comment for example; share issue number 5
Fill the ticket with relevant information and click Confirm.
Click the tab Fees if you want to add fees.
A subscription order is now created and assets are reserved in the account, but so far has no real orders been created in Bricknode Broker. Orders are not created until we create the trade order which is the next step.
Create a Trade Order
The trade orders should be created when the subscription procedure is finished. To create the trade order choose, Order Management > Subscription orders.
You can also create a trade order from the customer. Click on the action menu on the subscription order and select Create Trade Order.
Search for the instrument in the list of Subscriptions orders and click Search
Use the action menu and click Select All, if all subscription orders should be selected or select the subscription orders in the list.
Use the same action menu again and click on the option Create Trade Orders. A pop-up ticket will appear, click Confirm to create trade orders for the instrument. Reserve assets is a default setting, which means that assets are reserved within the customer account.
A pop-up ticket will appear with how many orders were created.
Trade orders have now been created in the customer accounts. Manage the trade orders according to the execution interface/order route.