Qualifying Central Counterparty (QCCP) Initial Margin Valuation
The CCR Qualifying Central Counterparty Initial Margin (QCCP IM) Violation Approval process allows QCCP IM limit breaches that were caused by a single deal to be approved or closed by the appropriate users. The entity being approved is a Violation Group, which is a group of Violations.
There will always be a current owner for a workflow process that is in progress. A workflow process that is in a terminal state will have no owner. The current owner will be able to apply a transition. An effective delegate of the current owner will also be able apply a transition. Excluding the cases above, it will not be possible to apply a transition.
At every step throughout the workflow, it will be possible to perform the following actions: for the user to attach a document, or multiple documents; for the user to attach a screenshot, or multiple screenshots; for the user to add/update comments.
A workflow instance will be created automatically by the Limit Breach Check process. The first owner will be the QCCP-owner, which is the same person for all QCCPs. The QCCP-owner will be Craig Malloy. The Job Spec which caused the limit breach will be recorded. The trader of the deal will be notified. The notification message will explain that no preclearance was needed, that no action must be taken by the trader, and that the workflow process is with the QCCP-owner.
There will be no next owner to specify, as the next state is a terminal state. The QCCP-owner will be notified that the workflow has process has completed.
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