Account operations

An operations team needs a provider-held account for an eligible counterparty. App Administrator verifies the organization and counterparty record. Operations Analyst creates an opening case against a parent instruction, records the applicant and initial deposit amount when relevant, and attaches supporting evidence to the instruction. The case moves to a submitted revision for independent decision.

• Identify the party. App Administrator checks the active organization and counterparty before an account is associated with the opening case.
• Review the case. Operations Analyst attaches the applicant and deposit details to the opening case; Independent Finance Reviewer decides on the submitted revision.
• Record authority. The team retains the provider application identifier and links the authorized account to its counterparty after provider confirmation.

Agree which provider owns the account authority and which external account identifier should be retained locally. A case decision belongs to its frozen submitted revision, and the reviewer must be independent of preparation. An approved internal case is still distinct from provider completion. Decide how the provider application identifier and final authority will be checked before closing the case.

Prepare a Draft case, submit it and ask the Independent Finance Reviewer to inspect the linked instruction and evidence. Record the decision before updating the case outcome. Hold the case short of Completed until the provider authority has been confirmed. Compare an attempted self-review and a revision changed after submission with the accepted decision path.

The case decision and the eventual provider authority answer different questions. Keep the reviewer’s reason with the parent instruction and the opening case revision used for that decision. If the provider rejects the application, retain the submitted details and decision; do not treat an internal approval as an opened account. Compare the provider’s account identifier with the account owner before using it on a later instruction.

Before closing an opening case, compare the provider application identifier with the account identifier entered on the trading account. Confirm that the account still belongs to the same counterparty. If the provider response belongs to another applicant, keep the case open and ask the analyst to resolve the mismatch.

• Account cases in progress — Follow draft, submitted and approved opening cases by organization and provider application.
• Account cases awaiting decision — Give the independent reviewer submitted cases with the applicant and current revision.
• Active counterparties — Check eligible parties before associating a provider-held account.

See instruction review and provider reconciliation for the full handoff. Implementation sets out the pilot sequence.