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Oracle® Insurance Rules Palette 9.4.1.0 E23637_01

# Configure Price Offsets

Some unit linked activities require that one or more offset business days be applied to the activity effective date so that a future dated (unknown) exchange rate can be used to exchange between currencies. Once the Guaranteed Exchange Date is known, the exchange rates for the activity will be the next available rates on or after that date. An activity cannot proceed to value funds without the exchange rates.

## Exchange Dates and Fund Price Offsets

There are mulitiple ways to configure price offsets. An explanation of each option is given below.

- Configure a field to hold an offset value. A field can be added to a transaction, or added to Company Data or Plan Data. This field can then be referenced in a math variable and passed into the MathStatement function. Using fields at the plan or company level to hold offset values allows these values to be applied across multiple plans and companies.
- Configure a math variable that holds a value, which will be passed to the MathStatement function. This option does not allow the offset to be reusable across plans and companies.

The MathStatement will provide the exchange date based on activity effective date and the number of offset days specified in the mathvariable. A MathStatement function must be included in the Math section to tell Assignment how to retrieve prices and exchange rates.

OIPA will access the AsSystemDate table to verify if the day for the exchange is an actual business day. If the day is not an actual business day, then the date will advance to the next business day.

## Exchange Dates Based on Time of Day

Unit dealing is a time sensitive process. A transaction may need to determine the currency exchange offset to use based on the local time of day when the activity is entered. Transactions added before a cutoff time may use 0 offset days while those issued after the cutoff may get a different number of offset days. Since the offset is based on the activity effective date the TransactionTimes rule can be used in conjunction with the configured price offset to dynamically to change the activity effective date that the offset is applied to. Syntax is also available for the Effective Date attribute of the transaction element so when the screen loads, it automatically advances the date to the next business day. Refer to the XML Configuration Guide for specific details concerning the Transaction element.

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