Safecustody Fees calculation

Hi,

I have been trying to understand the calculation part of safecustody fees posted in SAFEKEEP.HOLDING application. The average closing method selected in SCSF.CHARGE.PARAMETER is average. Also i have done all the required setup as described in the below link
www.wikibanking.info/2015/10/charges-and...ssions-on-sec-trade/

The problem is that the safeekeeping fees posted is not in conformance with the percentage setup in FT.COMMISSION.TYPE.
Can someone please explain the basis of the calculation and the method to be used to validate whether correct value is getting posted?

Below is the example for the Safe custody fees set
Safe custody values setup:
SCSK.GEN.CONDITION
SCSK.GROUP.CONDITION
SCSF.CHARGE.PARAMETER (Average Closing method selected – Average)
FT.COMMISSION.TYPE – SCSKBOND
Calc Type - Level
For USD upto 500000 – percentage 0.2
SAFECUSTODY.VALUES setup for SG Company
Frequency set for safe custody fee is quarterly
Accrual – Monthly

Transaction level data
SAM record created with portfolio value – SGD 150000000000
Information:
Portfolio created on 1st April
Safecustody Freq – Monthly (in this case should be calculated from 1st to 30th of April)
SAFEKEEP.HOLDING table values (First month accrual posted on 1st May)
Average Closing Balance – USD 10953702351.395 (USD/SGD rate – 1.3694)
Int months – 10
Charges Lcy – USD 21451465.02 (Total Amount)
Local Chg Lcy – USD 12322915.14
Foreign Chg Lcy – USD 9128549.88
Process Stage – Calculated
Process type - periodic

Can someone please explain how the calculation is done for the safecstody fee when AVERAGE.CLOSING is selected as AVERAGE in SCSF.CHARGE.PARAMETER?

Hi Moderator,

Request your help with the above query.

hi there , Did you get the answer.
i am encounter the same issue , as i dont understand how the safe keepng is calculated. Currently, the systems seems to be charging for the entire year instead of Quarterly.
Please help , if you found your answer