Completing a Forward Drawdown
Once all your payment details have been entered and saved, you can book the deal.
- On the page, click the tab.
All of the payments and the related drawdowns and settlement details are listed on this page.
When you draw down against a forward, the deposit that you paid when you booked the forward is taken into consideration. When the total of the drawdown payments equals or exceeds the original value of the forward minus the amount of the deposit, the settlement amount is adjusted accordingly. When this happens, you will see in the section. Click to display a pop-up that shows how the deposit is applied to the settlement amount.
- Review the details of the payments and the settlement amounts and make any required changes.
- In the section, you can change the allocated amount that will be taken from the Forwards. If you adjust the allocated amount and it is insufficient to cover the payment, a Spot amount will be displayed for the additional funds to complete the deal.
Note: If you are closing out the Forward, you will not be able to change the amount in this section. 
- In the section, you can click a dropdown and change the accounts from which the drawdown and fee amounts will be taken.
- In the section, you can click the
edit icon and make changes to the payment details.
Note: If you edit a payment or the Forward Drawdown amounts and the drawdown is insufficient to cover the payments, an dialog appears that asks if you want to create a Spot Top Up for the balance. The Spot Top Up lets you add additional funds so that you can complete the deal.
How to create a spot top up - In the dialog, click .
For example, suppose the Forward that you are using has a balance of £3333.00. That is not enough to cover the payment, which is £4000.00. Therefore, a spot top up of £667.00 is required.
When you click , the tab shows you a summary of the amount required for the transaction, the amount of the Forward Drawdown, and the amount of the Spot Top Up that is needed.
- By default, the currency chosen to settle the Spot Top Up is your base currency, but if you have an account in a different currency that you want to use, you can choose it from the dropdown list in the section.
Note: If the spot top up violates your personal trade limits or your organization's trade limits (per transaction and cumulative daily total), you will not be able to book the deal. If that happens, you will see an error message at the top of the page letting you know that the amount is over the transaction limit. - Click .
The conversion rate and resulting valuation for the Spot Top Up are displayed. The timer indicates the amount of time you have to book the deal at the displayed rate.
- In the section, you can change the allocated amount that will be taken from the Forwards. If you adjust the allocated amount and it is insufficient to cover the payment, a Spot amount will be displayed for the additional funds to complete the deal.
- If the payments require approval, when you book the drawdown, all of the authorized approvers will receive an email letting them know that a deal is waiting to be approved. If you want to choose which approvers are notified, click . Then click to select or deselect approvers.
- Click to submit the deal.
A confirmation dialog appears.
If applicable, a message is displayed to let you know that the authorized approvers have been notified. You can click View Receipt to view the drawdown confirmation. - Optionally, click to view the .
On the , the column displays the order number of the original Forward contract. If the drawdown was booked from multiple forwards, all of the deal numbers are displayed in this field. You can click on the deal number to open the Forward deal confirmation.
