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User Guide for Bank of England Electronic Tendering System

1. Description Bid Amt mn Spread bp Bid Amt mn Spread bp Bid Amt mn Spread bp Bid Amt mn Spread bp CTRF Submit AlI Request Time 733 2047 Error messages for CTRF Explanation You must enter numeric data only You have either entered non numeric data Numbers up to 999999 up to X decimal e g letters or too many decimal places places allowed Negative numbers are Amend input and resubmit not permitted Bid amount is less than min amount Bid submitted is below the minimum bid amount for this operation Refer to operating procedures or operation details for minimum amounts Bid exceeds max allowable amount Bid s exceeds maximum amount allowable for this operation For CTRF the maximum allowable amount refers applies to the sum of all bids submitted The maximum allowable sum of bid amount is determined by the counterparty concentration limit see latest CTRF market notice for further information Bid exceeds value of pre positioned Bids in excess of the total Adjusted collateral Market Value of collateral pre positioned by a Participant in the DWF at close of business on the day before the auction Spread differs significantly from Bank limits Check and re enter bid plausibility limit counterparty set plausibility limits Identical Bid 4 The user has entered multiple bids with Warning Message Only the same values Identical bids are flagged for information in case they are a result
2. BANK OF ENGLAND User Guide for Bank of England Electronic Tendering System January 2014 Table of contents Page Myr STIPE GLC EOE oct cetacean ty etme A A E 3 2 Launching application and login requireMentS ccccccccnnnnnncnnnnnnnnnnnononannnnnnnnnnnnnnnnos 4 ACCESS RIOD ic 6 3 Btender clock PO synchronisation iii 7 4 General screen layout screen print below cocoooooocccnnnnnnnononononnnncnncnononaninononss 8 Te PCAN Meni A E 8 A EE ge rare 8 PANOR iii 8 5 Operation timetable Orea aia 9 Accessing individual operations ooooonccnnnnnncnnnnnnnnnnnnnnnonononnnnnnnnnnnonnnnnnnncnnnnnnnnnnnos 9 Access to pre Operation annouUNCeMenN S ccccccncnnnnnoccnnnnnnnnnnnnnnnnnnnnnnnononnnnnnnnnnnnnnnos 10 Restless ipuiD a 12 0 Bidding offering screen OVerviewW dd ison nea 13 E ania a 13 INCUVE DIGS OLMEIS NAD aiii 14 Filtering and sorting submitted bids Offers occcccccnonooooncnnnnnnnnnononannncnnnnnnnos 14 Cancelled bristol woul aandeeame coda tipated 14 Validation PlausiDility checks iii 14 OP CPA lt CIOS ccs dios 15 7 Weekly and fine tune repo OMOS ni ARETE 16 Sene pasible 16 Addie Dolo loliaii ne 17 VICWINS ANG corto ENS DIG vd dais E R 17 Cancel al 18 Bird St ia id 18 Error MESA atodos ida io 19 A O 20 5 Indexed Lone termi roo OMOS va E OO ZZ SEMN lA SIDE YT AMC OG adn 22 Adding DIAS senaren A 23 VIEWINGS ANd COINS DIGS tn e rA EGES 23 Cancel Did do old A ler rere Or epee eras 25 BLA
3. The status will go blank until the bid 1s resubmitted 2 The change can be resubmitted by either clicking on the submit icon to the right of the bid B OR by pressing the resubmit all button C If a user leaves the screen or the operation ends without resubmitting then the changes will be lost and the original bid will stand Prior to resubmission any changes made in the top portion of the screen can be undone by pressing the undo all button D If a previously rejected bid meets the Bank s validation criteria after editing the status will be changed to valid Conversely if a previously valid bid no longer meets the Bank s validation criteria after editing it will be rejected Active Bids Cancelled Bids E Maturity Bid Amt mn Bid Rate Status All Y All v l Non GBP A 30d El u A ya F B D C Undo all Re submit all Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Cancelling bid screen print above To cancel a bid click on the rubbish bin icon corresponding to the bid to the right of the screen E The cancelled bid will be removed from the active bids screen and placed on the cancelled bids screen accessed via the cancelled bids tab Cancelled bids may not be amended or reinstated Bid History A history log for each bid can be accessed by clicking the link in the maturity column F The bid history log provides a r
4. 4 Enter the amount in sterling millions mn B and spread bps C for each bid The minimum bid amount and the increment are shown in the operation details in sterling mn 5 There are two ways to submit bids to the Bank once bid input is completed a To submit bids for an individual bond click on the submit icon D displayed to the right of the row Only the bids in that row will be submitted Bids for other bonds will remain in the add bids section b To submit all bids in the user should press the submit all button E NOTE the Submit All button submits bids for all bonds for which a bid has been input C Description Reference Instrument Bid Spread Status Time Pam i Nominal kam A mn a BGGRP 5 7 8 11 13 12 UKT 5 03 12 2 0 90 Valid 7 45 36 u Add Bids D Ticker Amount mn Spread Amount mn Spread Amount mn Spread ILN 5 3 4 12 03 32 2 5 150 al Please select y 1 A B c E Viewing and Editing Bids screen print below The submitted bids will be displayed in the top section of the active bids tab The bid status at this point will either be valid or rejected Valid bids have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected bids are those which have failed the Bank s validation criteria If a bid is rejected the field s failing the validation criteria will be highlighted in red and the u
5. Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied Ioj x File Edit View Favorites Tools Help Internet Usage may he monitored Improper use may lead to disciplinary action ae bad ES E FN JO search 5 Favorites E Address Eso Links gt 3 Operation i ANOB11 146944 CounterpartyViewer CounterpartyDealer 3 Logout BANK OF ENGLAMO tesidity Providing 100mn 23 07 2008 10 19 Time to go 04 38 Btender Test4 Active Bids Cancelled Bids Maturity Bid Amt mn A Rate Status Operation Timetable o Cn Today s or Next Operation Last Operation Bids Offers Allocation amp Results E D y Undo all Re submit all Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Weekly WALocalintranet Y Top bar A The top display bar always contains the high level details for the operation 1 e the Operation type tender amount date and start time for the selected OMO In addition the bar contains a blue information icon When selected this icon will produce a pop up box containing the pre operation publication details for the operation as described above Importantly the top bar also contains the countdown timer B for the operation This acts as a guide to the amount of time remaining to submit bids offers in the current operation As an aid to users there is a traffic lig
6. Annex 1 SWIFTNet access rights Counterparties can configure the access rights to Btender for each person with SWIFT login details There are 2 levels of access viewer view only no input rights and dealer able to view input and amend The levels correspond to the SWIFTNet roles member and supermember SWIFT roles are allocated to each user by your SWIFT Security Officer Each counterparty needs to decide which role is required for each user and then ask the Security Office to make the change s necessary Outlined below is a brief guide to making the change s 1 Start WebStation 2 Login to WebStation with a SWIFTNet User with LRA capabilities e g your SWIFT Security Officer 3 Click on Users 4 Locate the SWIFTNet User you wish to define RBAC for OMO 5 Right click and Open that SWIFTNet User 6 Click on the Profile tab 7 Locate the entry boe omo and click on the right arrow to open the available Roles 8 Tick the Roles you wish the User to have 1 e either member for viewer view only access or member and supermember for dealer write access 9 Click the Save user profile icon or right click and Save 10 The pop up box Profile updated successfully should appear Click OK to complete 11 The SWIFTNet User can now login to boe omo 12 Repeat for other Users who wish to access Btender Live 13 For the Trial Pilot Btender service the service name is boe omo pe Assign RBAC Roles me
7. Error messages in viewing and editing section When bids are submitted they pass through a number of validation checks These ensure that the bid does not breach any of the Bank s limits e g exceed maximum offer size allowed Ifa bid breaches any of the Bank s limits it will be automatically given a status of rejected and the screen below will appear The bid may be edited and resubmitted ST OMO 427 Liquidity Providing 100mn 02 06 2009 16 45 E Time to go 00 28 gt gt Active Bids Cancelled Bids E Maturity Bid Amt mn Bid Rate Status All kd All X a Weekly 1000 5 0000 Rejected u Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Weekly Error messages for Short Term Repo Explanation You must enter numeric data only You have either entered non numeric data Numbers up to 999999 up to X decimal e g letters or too many decimal places places allowed Negative numbers are Amend input and resubmit not permitted Bid amount is less than min amount Bid submitted is below the minimum bid amount for this operation Refer to Operational Documentation or operation details for minimum amounts Bid exceeds maximum allowable amount Bid submitted is above the maximum bid amount for this operation Bid exceeds maturity target amount Bid is greater than operation size Results screen print below The results for each
8. Next Operation 300 00mn 300 00mn 0 00 5 00 15 00 03 Month Last Operation Level A Level B Level C ILTR 1401 2014 Total Bids Received mn 100 00 100 00 100 00 resem Amount Allotted mn 100 00 100 00 100 00 Allocation amp Results Clearing Spread above Bank Rate 0 5 15 cs ee Alloc for Bids at Clearing Spread 100 00 100 00 100 00 Static Defaults Configuration Allocation Results EY Download Bid Amt Spread Alloc Amt Alloc Spread Alloc Amt Alloc Spread Alloc Amt Alloc Status mn Level A mn Spread LevelB mn Spread Level C mn Spread am bp bp bp bp bp bp VFA S 100 00 5 BOO 0 VFA ee eee see REJ R I gt I gt 0 10 14 155 9 Contingent Term Repo Facility Setting plausibility ranges screen print below The system allows users to set their own plausibility ranges for bids at counterparty level 1 e the ranges apply to anyone bidding for that counterparty in that operation Any bids submitted with spreads which exceed the upper plausibility limit or are below the lower plausibility limit will be rejected automatically User set plausibility ranges are optional if no plausibility ranges are input the Bank plausibility ranges will apply the Bank plausibility ranges will apply whether or not user plausibility ranges are set and are set to catch obvious input errors so are relatively wide If the user decides to set plausibility ranges they
9. Status Time All X All lt E BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 10 0 550 00 Rejected 16 41 33 u L BRK 9 1 4 01 17 20 UKT 4 75 03 20 1 0 500 00 a Valid Offer exceeds max size for this Bond 5 0 mn fj E FRTEL 5 5 8 01 23 34 UKT 4 25 06 32 2 0 500 00 Valid 16 38 12 T Error messages for corporate bond APF tender Explanation You must enter numeric data only Either non numeric data e g letters or Numbers up to X with up to Y decimal too many decimal places have been places allowed Negative numbers are entered The input must be amended and not permitted resubmitted x xmn size of the operation amount Offer amount is not valid increment Offer amount is not a valid increment Identical Offer 4 The user has entered multiple offers with the same values Identical offers are flagged for information in case they are a result of an input error They are not rejected so one or both must be either cancelled or amended if input in error Results The results for each operation will be released after offers have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the results publication the screen will show a Waiting for allocation message This will automatically refresh to show the results when these
10. are available The top section of the screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcements and include the total amount of offers received and accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the offer s submitted by the counterparty and the allocation obtained B Any cancelled offers will also be displayed The history for the offer 1s available by clicking on the underlined text in the description column The abbreviations in the status column C stand for the following VFA valid offer fully allocated VPA valid offer partially allocated VUA valid offer unallocated CAN cancelled offer REJ rejected offer The screen contains download icons in the upper and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel Overall Operation Results EY Download Total Amount of Offers Received Nom Total Amount of Offers Accepted Nom Total Amount of Offers Accepted Total Proceeds 4 0mn 4 0mn 4 83mn Description Total Offers Offers Total Offers Reference Ref Clearing Clearing Clearing Alloc
11. available at http www bankofengland co uk markets money index htm NOTE Following current terminology the guide describes a counterparty s participation in short and long term repos as bidding For outright purchases where the counterparty is selling bonds to the Bank the terminology used is offering However in some places in the user guide 1 e for generic functions these terms are used interchangeably for convenience DISCLAIMER The Bank does not accept any liability for loss or damage whether direct indirect or consequential resulting from the use of or inability to use Btender For full disclaimer applicable to Btender please see clause A4 of the Bank s Terms and Conditions for participation in the Sterling Monetary Framework available at http www bankofengland co uk markets money documentation htm and http www bankofengland co uk markets apf documentation htm for participation in APF corporate bond auctions All Btender screenshots are for illustrative purposes only 2 Launching application and login requirements Each user will require a SWIFT user name and SWIFT password to access the system The SWIFT ID will be provided by SWIFT the password is set by the user Please contact your internal IT support if any issues arise To launch the application and login use the following steps 1 Double click the webstation icon on the SWIFT terminal desktop 2 This will take you to the login screen bel
12. bp CTRF request SIZE U bytes Request Time 592 8038 Remoting Calls 7 Cancelling bid screen print above To cancel a bid click on the rubbish bin icon H above corresponding to the bid The cancelled bid will be removed from the active bids screen and placed on the cancelled bids screen accessed via the cancelled bids tab Cancelled bids may not be amended or reinstated Bid History A history log for each bid can be accessed by clicking the link in the collateral type column I above The bid history log provides a record of that bid from submission until completion of bidding including any changes example below y aspx bidl O X Be NA 8 http btend webtst Test9 BidHistor x E Convert ha Bid History for Bid Id 72937 CTRF Counterparty Bank 1 Nominal RESP Time User Id Status 50 54 11 40 38 Bank 11147603 Valid 100 63 11 40 01 Bank 11147603 Rejected Error messages Error messages in the adding bids section Invalid entries in the add bid offers section of the bidding screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field screen print below Invalid bids cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping Err
13. by pressing the undo all button F r Go e http btend webtst T est9 BidEntry aspx P aX Btender x x E Convert X F Select Operation ABOBLO 147603 CounterpartyView er CounterpartyDealer 3 Logout BANK OF ENGLAND R 1382 14 01 2014 11 30 Time to go 24 00 Y Btender Testo a d Spread is a spread to Bank R E Operation Timetable A Operation Timetable ctive Bids Cancelled Bids 00 Today s or Next Operation Collateral Type Bid AmtY mn Level A Bid Spread Level B Bid Spread Level C Bid Spread Status Last Operation AM y bp bp bp Al ILTR 14 01 2014 Bids Offers m Level C 100 15 Valid mi Allocation amp Results Level B 100 Valid Plausibility Ranges mi G Static Defaults Level A 100 A Valid Configuration N F gt n H Add Bids Level A Level B Level C Bid Amt mn Bid Spread bp Bid Spread bp Bid Spread bp Please select v cH 639 6041 If a previously rejected bid meets the Bank s validation criteria after editing the status will be changed to valid Conversely if previously valid bids no longer meet the Bank s validation criteria after editing then they will be rejected Cancelling a bid screen print above To cancel a bid click on the rubbish bin icon G above corresponding to the bid The cancelled bid will be removed from the active bids screen and placed on the cancelled bids screen accessed via the Ca
14. in the upper and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel A Overall Operation Results L H8 Download Total Amount of Bids Received Nom Total Amount of Bids Accepted Nom Total Amount of Bids Accepted Total Proceeds 16 9mn 6 8mn 8 41mn Description Total Bids Total Bids Total Bids Reference Ref Yield Clearing Clearing Clearing Alloc At May E Received Accepted Accepted Instrument Spread Yield Price Clearing Nom mn Nom mn Lp mn bp Spread BRK 8 7 8 10 16 20 0 0 0 0 UKT 4 75 03 20 3 705 BRK 9 1 4 01 17 20 0 0 0 0 UKT 4 75 03 20 3 705 BMW 5 1 4 11 21 13 0 0 0 0 UKT 4 5 03 13 2 258 BRITEL 8 5 8 03 26 20 ry E 2 33 UKT 4 75 03 20 3 705 90 4 605 137 150 100 00 ILN 6 7 8 03 09 23 ay 0 0 UKT 5 03 25 4 001 ILN 5 3 4 12 03 32 Lt 0 0 UKT 4 25 06 32 4 080 BGGRP 5 7 8 11 13 12 2 0 2 0 2 30 UKT 5 03 12 1 731 90 2 631 114 911 100 00 BRK 7 1 4 08 04 28 47 2 0 2 57 UKT 6 12 28 3 993 95 4 943 128 560 14 29 BSY 6 05 21 27 1 9 0 0 UKT 6 12 28 3 993 BPLN 5 3 4 11 08 10 2 6 1i 1 21 UKT 4 75 06 10 0 352 95 1302 110 077 100 00 Allocation Results H Download Description Spread bp Nom mn Alloc Nom Alloc Tp mn Alloc Alloc Alloc Status em E mn Spread bp Yield Clean Price fan of BRITEL 8 5 8 03 26 20 90 ET 1 70 2 33175988 90 4 61 137 150 VFA BGGRP 5 7 8 11 13 12 90 2 0 2 00 2 29846691 90 2 63 11
15. mn Bid Rate Status amn v All y Non GBP 1 Rejected u Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Non GBP Error messages for Non GBP Operations Explanation You must enter numeric data only You have either entered non numeric data Numbers up to 999999 up to X decimal e g letters or too many decimal places places allowed Negative numbers are Amend input and resubmit not permitted Bid amount is less than min amount Bid submitted is below the minimum bid amount for this operation Refer to Operational Documentation or operation details for minimum amounts Bid exceeds maximum allowable amount Bid submitted is above the maximum bid amount for this operation Bid exceeds maturity target amount Bid is greater than operation size Results screen print below The results for each operation will be released after bids have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the results publication the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of the screen will show the high level aggregate results for the opera
16. must be set on the day of the tender Values may be changed once the operation has started Any value input during the operation will apply to all existing as well as any new bids To set plausibility ranges 1 Select the operation in the timetable screen by clicking on the operation link 2 Select the Plausibility Ranges link from the left hand menu A 3 Enter the reject spread below and reject spread above for each maturity in the boxes provided B The spread is to Bank Rate Bids with values equal to the plausibility range values will be accepted as valid 4 The number of decimal places allowed is equal to the number of decimal places allowed for the bid rate set out in the Operational Documentation 5 If an invalid value is entered in the box for example text or a value with too many decimal places the field will be highlighted in red and an error message will be provided The error must be corrected before the plausibility rates can be saved 6 Press the save changes button C 7 The rates can be changed at any time by overtyping the saved values and pressing save changes Test l Plausibility Ranges Operation Timetable Welcome to the above operation due to take place on 14 01 2014 our plausibility ranges befi p All val ou can enter y ore or during the operation All values are optional If a limit is left blank no checking against that limit will take place You may enter only one pair uppe
17. operation will be released after bids have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the results publication the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of the screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcements and include the total amount of bids received and accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the bid submitted by the counterparty and the allocation obtained B Any cancelled bids will also be displayed The history for the bid is available by clicking on the underlined text in the Maturity Date column The abbreviations in the status column C stand for the following VFA valid bid fully allocated VPA valid bid partially allocated VUA valid bid unallocated CAN cancelled bid REJ rejected bid The screen contains download icons in the upper
18. screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcements and include the total amount of offers received and accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the offer s submitted by the counterparty and the allocation obtained B Any cancelled offers will also be displayed The history for the offer is available by clicking on the underlined text in the description column The abbreviations in the status column C stand for the following VFA valid offer fully allocated VPA valid offer partially allocated VUA valid offer unallocated CAN cancelled offer REJ rejected offer The screen contains download 3 icons in the upper and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel 3 Btender Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied File Edit view Favorites Tools Help Internet Usage may he monitored Improper use may lead to disciplinary action Q sxx X Y x B TN JO search 5 Favorites E E Address Results of Operation ANBANK 306811 CounterpartyWiewer Counterpa
19. the Bank is lending cash at Bank Rate and taking collateral In the latter the Bank is borrowing cash at Bank Rate and providing collateral The nature of the operation will be made clear in the pre operation and wire services announcements 8 Indexed Long term repo OMOs Setting plausibility ranges screen print below The system allows users to set their own rate plausibility ranges at counterparty level 1 e the ranges apply to anyone bidding for that counterparty in that operation for each collateral type Any bids submitted with spreads which exceed the upper plausibility limit or are below the lower plausibility limit will be reyected automatically User set plausibility ranges are optional if no plausibility ranges are input the Bank plausibility ranges will apply the Bank plausibility rates will apply whether or not user plausibility rates are set and are set to catch obvious input errors so are relatively wide If the user decides to set plausibility ranges they must be set on the day of the tender Values may be changed once the operation has started Any value input during the operation will apply to all existing as well as any new bids To set plausibility ranges 8 Select the operation in the timetable screen by clicking on the operation link 9 Select the Plausibility Ranges link from the left hand menu A 10 Enter the reject spread below and reject spread above for each collateral type and operation tenor in the bo
20. the screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcements and include standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the bid s submitted by the counterparty and the allocation obtained B Any cancelled bids will also be displayed The history for the bid is available by clicking on the underlined text in the collateral type column The abbreviations in the status column C stand for the following VFA valid bid fully allocated VPA valid bid partially allocated VUA valid bid unallocated CAN cancelled bid REJ rejected bid The screen contains a download 4 icons in the upper and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel rr o e http btend webtst Test9 AllocationResults as O X e Btender x m x Convert v P Select ABOBLO 147603 Counterparty Viewer CounterpartyDealer Logout ILTR 1382 14 01 2014 11 30 Complete Btender SS EER OPAT Operation Timetable Operation Timetable Total Amount of Bids Received Total Amount of Bids Accepted Clearing Spread Level Clearing Spread Level Clearing Spread Level C Maturity Today s or
21. to the right of the offer B OR by pressing the resubmit all button C Ifa user leaves the screen or allows the operation to end without resubmitting then the changes will be lost and the original offer will stand 8 Alternatively one or more offer spread fields can be changed by using the spinner To use the spinner on a single offer click the up or down arrows a next to the spread field D each click will move the offer spread up or down by lbp The spread on multiple offers can be spun at the same time To do this either select the group of offers to be spun using the tick boxes E on the left hand side of the screen or select all offers using the top left tick box I Once the relevant offers have been selected click on the up or down arrow for one of the selected offers to move the rate for all selected offers concurrently Once the offers have been resubmitted they are deselected or offers can be deselected by un ticking the relevant tick box 9 Prior to resubmission any changes made to offers in the top portion of the screen can be undone by pressing the undo all button F Corporate Bond Tender 429 5mn 02 06 2009 17 10 E Time to go 00 37 Active Offers Cancelled Offers Description Reference Bid Amount mn Spread Status Time G an E Instrument Man z D y BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 2 0 399 i 17 18 31 El u E BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 1 0 500 Val
22. 01146944 Valid 500 00 122701 Another Bank 101146944 Valid 500 00 12 26 53 Another Bank 101146944 Valid Error messages Error messages in the adding offers section Invalid entries in the add offers section of the screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid offers cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping and re submitting Error messages in viewing and editing section When offers are submitted they pass through a number of validation checks These ensure that the offer does not breach any of the Bank s limits e g exceed maximum offer size allowed and that basic input errors have not been made If an offer breaches any of the Bank s limits it will be automatically given a status of rejected and the text in the field containing the value that has failed the check will be red The user can hover over the field to obtain an error message describing the reason for rejection see example below The offer can then be overtyped and resubmitted or cancelled Resubmitted offers which no longer breach Bank limits will be given a valid status Active Offers Cancelled Offers E Description Reference Instrument Bid Amount mn Spread
23. 1 2011 Today s or Next Operation Last Operation Please enter your plausibility ranges before or during the operation All values are optional If a limitis left blank no checking against that limit will take place You may enter only one gt of a pair upper or lower if you wish and only that side of the check will be applied ST OMO 17 11 2011 fal ta d i PE Bids Offers Values may be changed once the operation has started Any values input during the operation will apply to all existing as well as any new bids Allocation amp Results Plausibility Ranges Bids with values within or equal to the plausibility range values will be regarded as valid bids containing values outside the range values specified will be automatically rejected Static 7 faults Configurftion Maturity Bucket Reject Rate Below Reject Rate Above Weekly A To Adding bids screen print below 1 Once an operation has started the bidding screen can be accessed by clicking the operation type description corresponding to the operation on the timetable screen 2 For fixed rate operations only one bid at Bank Rate is allowed A 3 The bid amount in mn should be entered in the box provided in the lower half of the screen B The minimum offer amount and minimum increment will be displayed in the details for the operation 4 To submit the bid to the Bank either click the submit icon to the right of the bid C OR the submit all button at the botto
24. 3 20 0 00 0 00 YUA UKT 4 75 070610 101 000 4 394 100 103 21 0 00 0 00 YUA El lowe LEE E E 11 Corporate Bond APF Purchases Adding Offers screen print below 1 Once an operation has started the offering screen can be selected by clicking the operation link in the timetable 2 Multiple offers for each bond may be submitted To offer for a particular bond select that bond from the drop down box at the bottom of the screen A As a default the system will display entry boxes for three offers boxes can be left blank 3 Itis possible to submit offers for more than one bond at a time To do this select the bonds required from the drop down list and enter offers as required in the boxes provided 4 Enter the amount in sterling millions mn B and spread bps C for each offer The minimum offer amount and the increment are shown in the operation details in sterling mn 5 There are two ways to submit offers to the Bank once offer input is completed a To submit offers for an individual bond click on the submit icon D displayed to the right of the row Only the offers in that row will be submitted Offers for other bonds will remain in the add offers section b To submit all offers in the user should press the submit all button E NOTE the submit all button submits offers for all bonds for which an offer has been input Corporate Bond Tender 429 5mn 02 06 2009 17 10 E Time to go 06 12 P Ac
25. 4 911 VFA BRK 7 1 4 08 04 28 85 1 8 1 80 2 31430222 95 4 94 128 560 VFA BPLN 5 3 4 11 08 10 95 1 1 1 10 1 21098280 95 1 30 110 077 VFA BRK 7 1 4 08 04 28 95 1 4 0 20 0 25714469 95 4 94 128 560 VPA LN 6 7 8 03 09 23 120 eS 0 00 0 00000000 VUA ILN 5 3 4 12 03 32 150 AAT 0 00 0 00000000 VUA BRK 7 1 4 08 04 28 100 ee 0 00 0 00000000 VUA BSY 6 05 21 27 110 1 9 0 00 0 00000000 VUA BPLN 5 3 4 11 08 10 105 TI 0 00 0 00000000 VUA 13 Non GBP Operations Adding bids screen print below 1 Once an operation has started the bidding screen can be accessed by clicking the operation type description corresponding to the operation on the timetable screen 2 For fixed rate operations only one bid at the fixed rate is allowed A 3 The bid amount in mn should be entered in the box provided in the lower half of the screen B The minimum offer amount and minimum increment will be displayed in the details for the operation 4 To submit the bid to the Bank either click the submit icon to the right of the bid C OR the submit all button at the bottom right of the screen D Btender Windows Internet Explorer provided by BOE IE Group Policy v5 0 Go y gt lt EJE File Edit View Favorites Tools Help z Se Y de 45 werner fp BH am Page CR BANK OF ENGLAND Btender INTWEB1 Operation Timetable Active Bids Cancelled Bids Operation Timetable Maturity Bid Amt mn Bid Rate Status Today s or Next Operati
26. 7 8 11 0212 5 UKT 5 03 12 0406 09 CPGLWN 6 3 8 05 2952 5 UKT 5 03 12 0406 09 CPGLN 7 12 08 14 5 UKT 5 09 14 04 06 09 DT 4 7 8 09 2354 5 UKT 5 09 14 04 06 09 DT 5 5 8 071953 5 UKT 4 5 03 13 04 06 09 DT 6 1 4 12 0950 5 UKT 4 75 06 10 04 06 09 DT 7 1 8 09 2642 5 UKT 50342 04 06 09 EDF 8 3 4 03 30 12 2 UKT 5 03 12 04 06 09 EQANGR 5 1 8 01 27 H4 5 UKT 5 09 14 04 06 09 EAPNLN 5 518 12 12 13 5 UKT 4 5 03113 04 06 09 FOPLN 6 7 8 041155413 5 UKT 4 5 03 93 04 06 09 AS 112 05 2412 Y UKT 5 03 12 0406 09 Results Results for completed operations can be accessed via the operation timetable screen To see past operations select the all option in the date filter the last year of operations 1s available Scroll back through the list and click on the operation you are interested in users may find it easier to sort the list by operation type first Click on the operation type link for the operation results are desired for the results screen will be presented as default 6 Bidding offering screen overview The bidding offering screen is only available when a tender is active 1 e between the start and end times A blank bidding screen 1s presented at other times The bidding screen can be accessed by clicking on the operation link in the timetable screen The layout of the screen and required data inputs depends on the type of operation that 1s being conducted more detail can be found in the operation specific sections below 3 Btender
27. At TAIN Received A ted Accepted Instrument Yield Spread Yield Price Clearing Nom mn mn Lp mn bp Spread FRTEL 8 12 20 17 0 0 0 0 UKT 4 09 16n 0 000 FRTEL 7 1 4 11 10 20 0 0 0 0 UKT 4 75 03 20 0 000 FRTEL 5 5 8 01 23 34 2 0 2 0 2 20 UKT 4 25 06 32 0 000 500 00 5 0000 108 777 100 00 BRITEL 8 5 8 03 26 20 10 1 0 1 26 UKT 4 75 03 20 0 000 550 00 5 5000 124 807 100 00 BRK 9 1 4 01 17 20 1 0 1 0 1 37 UKT 4 75 03 20 0 000 500 00 5 0000 135 167 100 00 Allocation Results EY Download Description Spread Nom mn Alloc Nom Alloc Tp Alloc Alloc Yield Alloc Clean Status All bp mn mn Spread bp Price an FRTEL 5 5 8 01 23 34 500 00 2 0 2 00 2 20 500 00 5 0000 108 777 VFA BRITEL 8 5 8 03 26 20 550 00 1 0 1 00 1 26 550 00 5 5000 124 807 VFA BRK 9 1 4 01 17 20 500 00 1 0 1 00 1 37 500 00 5 0000 135 167 VFA C B 12 Corporate Bond APF Sales Adding Bids screen print below 1 Once an operation has started the bidding screen can be selected by clicking the operation link in the timetable 2 Multiple bids for each bond may be submitted To bid for a particular bond select that bond from the drop down box at the bottom of the screen A Asa default the system will display entry boxes for three bids boxes can be left blank 3 Itis possible to submit bids for more than one bond at a time To do this select the bonds required from the drop down list and enter bids as required in the boxes provided
28. Cancelled Offers Operation Timetable V Description Nominal Clean Price Total Status Today s or Next Operation All gt mns Last Operation Bids Offers E UKT 8 070621 120 000 Allocation Results r m 160 828 571 19 Rejected 10 36 32 mj 103 205 357 30 y4Total proceeds exceed max amount for this gilt ii 103 205 357 30 Valid 10 36 48 i UKT 4 75 070610 101 000 Price Rate Plausibility UKT 4 75 070610 101 000 UKT 4 75 070610 100 000 102 205 357 30 Valid 10a mi lt gt lt gt lt lt gt Undo all Re submit all Z Add Bids Description Nominal mns Price Nominal mns Price Nominal mns Price Nominal mns Price Please select y Error messages for gilt tender You must enter numeric data only The user has either entered non numeric Numbers up to 999999 up to X decimal data e g letters or too many decimal places allowed Negative numbers are places Amend input and resubmit not permitted Offer amount is less than min amount Offer submitted is below the minimum offer amount for this operation Refer to Operational Documentation or operation details for minimum amounts Offer exceeds max allowable amount Offer exceeds maximum total proceeds amount allowable according to the counterparty concentration limit Refer to Operation Documentation for the counterparty concentration limit Price entered differs significantly from limit market value Check and re enter price Price of bond exce
29. If a bid breaches any of the Bank s or counterparty s limits or plausibility checks it will be automatically given a status of rejected and the text in the field containing the value that has failed the check will be red The user can hover over the field to obtain an error message describing the reason for rejection see example below The bid can then either be overtyped and resubmitted or cancelled Resubmitted bids which no longer breach plausibility or Bank limits will be given a valid status pr E p uu http btend webtst Test9 BidEntry aspx P OX S Btender x x jConvert v P Select i ABOBLO 147603 Counterparty Viewer CounterpartyDealer 3 Logout BANK OF ENGLAND ILTR 1382 14 01 2014 11 30 Time to go 22 06 pm gt gt Btender Test9 Bid Spread is a spread to Bank Rate 0 5000 Operation Timetable Operation Timetable Today s or Next Operation Collateral Type Bid Amt mn Level A Bid Spread Level B Bid Spread Level C Bid Spread Status Last Operation AM bp bp bp A ILTR 14 01 2014 A Bids Offers Level C 15 2 Valid Active Bids Cancelled Bids Allocation amp Results Plausibility Ranges Static Defaults Level A Valid Configuration Level A Rejected u Bid spread above counterparty plausibility limit Level A Level B Level C Bid Spread bp Bid Spread bp Bid Spread bp Level B Valid Add Bids Description Bid Amt
30. NOB11 146944 CounterpartyViewer CounterpartyDealer 3 Logout Type Date Start End Amount mn Status Btender ma 3 Nete monins E em Test4 STR 23 07 2008 10 00 10 05 1 000 00 Setup Complete Details Operation Timetable 1 Today s or Next Operation Last Operation A C D Done Q Local intranet 7 Accessing individual operations The bidding offering screen can be accessed by clicking on the relevant operation link A Prior to the operation start the user will be taken to a blank bidding screen this will automatically update to an active bidding screen when the operation starts This screen will be available until the operation close when it goes read only After the operation has finished and the Bank has performed the allocation the results will be available here the results can also be accessed via the link on the left hand menu Access to pre operation announcements The details for each operation can be accessed as they become available by clicking on the Details link D on the right of the timetable screen For long term repo and outright purchase operations the following information is available one week prior to the operation Long term repo example below o Amounts on offer for each maturity o Maturity dates File Edit View Favorites Tools Help Tender Details 19 04 07 Announcement on Long term Repo Tender Date of Operation 19 04 07 Time for submission of offers 10 40AM 10 554M Settlemen
31. S AA A 25 Error SSS ACS arar ai 25 eas FL See A re od 2 9 Contmeoent Term Repo Facility roire a a E Doa 29 Settine PlAUSTDT LY PAN ES A A 29 Adding Did aia 30 WICWING ANG COINS DIGS sitos a E 30 Canco UNIS ON 32 Bid Estoril naaa 32 Error MESA toria 33 REST oo coa 35 SCAS plalsibil TANCES ii iia sisas 37 ACUM Mio noti 39 NIC WIM ANG edtihe OLOS reie AE deinen eae 39 Can CONS OT OTS salda diia 40 Oer TISOY ua T 41 ErrOL MESS ES ena a 41 A O O o 43 Lb Corporate BondAPE PUTCA asocia 45 PROGINS UCTS eea eE E 45 Wiewine and Editine OMOT S eonan A 45 Can Celis OES cat A ia 46 Oer ISTO a ie 47 Enormes s Io Ooa E 47 Ko aea a a A 49 12 Corporate Bond APF Sade a a a 50 Addo BAS E T 50 Viewin and Edino BGS usais 50 Cance MNS DIS E E E AN 51 Bird Esto na ca 52 Error MESA rats 52 Resare A eee eee eee OS 53 1 NOs GBP OPTIONS aia R E 39 AOS dd 55 View ile and edinn the Dl si liada 55 Cance IHS Didi AEE iaa 56 Bid ESO Y oera Es 56 Error MESS A TES A E E a E iE 57 Rest ot ada E 59 lA Static Derd lS ea E ia 60 Spuir Increnient Com UN E T A 60 15 B91 16 210 deal re a a a a a a 62 Annex L SWIFI Net ACCESS 11 CS lla 63 Annex 2 Calculation of total proceed oooocccnncccnonccnnoccnnnncnnnononanccnnncnnonoconnacannnss 63 Annex COT CG pars ss teas cede aa a a a a T 64 1 Introduction This document is a User Guide for the Bank of England Electronic Tendering Btender system for all Open Market Operations OMOSs wee
32. Spread bp Bid Amt mn Spread bp t CTRF B 592 8038 1 Once an operation has started the bidding screen can be selected by clicking the link corresponding to the operation in the timetable 2 Enter the amount in mn A and spread B for each bid The minimum bid amount and increment are shown in the operation details 3 To submit the bid to the Bank either click the submit icon to the right of the bid C OR the submit all button at the bottom right of the screen D 4 If the total of the bid amounts submitted exceeds the maximum allowable amount then an error message is presented The maximum allowable bid amount is determined by the counterparty concentration limit refer to Operational Documentation for further information and the Adjusted Market Value of collateral pre positioned by a Participant in the DWF The user should click OK adjust the bid amount s so they are less than or equal to the limit permitted and resubmit Viewing and editing bids screen print below The submitted bid s will be displayed in the top section of the active bids tab The bid status at this point will either be valid or rejected Valid bids have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected bids are those which have failed the Bank s or counterparty s validation criteria If a bid is rejected the field s which have failed the validati
33. and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel E Btender Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied File Edit View Favorites Tools Help Internet Usage may be monitored Improper use may lead to disciplinary action Qw O 9 0 0 Address Search SP Favorites E 2 BANK OF ENGLAND Btender ANOB11 146944 Counterparty Viewer CounterpartyDealer Logout Results of Operation STR 898 Liquidity Providing 1 000mn 23 07 2008 10 48 E Complete Te 1 Se i Fp Download Operation Timetable eres T ae Operation Timetable Total Amount of Bids Received Total Amount of Bids Accepted Today s or Next Operation 2 600 00mn 999 60mn Last Operation Weekly os eco Amount on Offer mn 1 000 Total Bids Received mn 2 600 Allocation amp Results Amount Allotted mn 999 60 Omo Bid Allocated 38 46 A Allocation Results EY Download Maturity Date Bid Rate Bid Amt mn Alloc Amt Status mn an gt 30 07 2008 5 50 200 76 90 VPA 30 07 2008 5 50 100 A 0 00 A B C Fine tune repo OMOs The bidding process for fine tune operations 1s identical to that for weekly repos For bidding instructions and screen print references please refer to the weekly repo section These guidelines apply for both liquidity providing and reserves draining operations In the former
34. ank default increments will apply Values may be changed once the operation has started Any increments set will remain active until they are updated by the counterparty To set spin increments 1 Select the Configuration link from the left hand menu under Static Defaults A 2 Enter the desired increment for the appropriate operation in the boxes required B Only the operations you are eligible to participate in will be visible 3 The number of decimal places allowed is equal to the number of decimal places allowed for the bid offer rate set out in the Operational Documentation Press the save changes button C 5 The increments can be changed at any time by overtyping the saved values and pressing save a Btender Windows Internet Explorer provided by BOE IE Group Policy v5 0 File Edit vi we k Btender BANK OF ENGLAND Btender Operation Timetable Operation Timetable Today s or Next Operation Last Operation Static Defaults Configuration Configuration Static Defaults i Go X El http btender dr CounterpartyConfiguration aspx vi BIE i When you submit a bid or offer it then moves to the Active Bids Offers window COMBLO 146456 CounterpartyViewer CounterpartyDealer Y oe TRE Logout Within that window you have the ability to amend the price rate spread by either overtyping or using the arrows next to each bid or o
35. click on the rubbish bin icon G above corresponding to the offer to the right of the screen The cancelled offer will be removed from the active offers screen and placed on the cancelled offers screen accessed via the cancelled offers tab Cancelled offers may not be amended or resubmitted Offer History A history log for each offer can be accessed by clicking the link in the description column H above The offer history log provides a record of that offer from submission until completion of the tender including any changes example below E Bidding and Allocation System Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied Bid History for Bid ld 2670 UKT_4 75 070610 GB0060330274 Counterparty ANBank Nominal mrs Clean Price Yield Total Proceeds Time User Status 100 100 998 4395 105203 357 30 10 38 48 A New Bankiuserl Valid 100 101 001 4 394 10s 205 257 30 10 38 40 A New Bankiuserl Rejected 100 101 000 4 394 103 205 357 30 10 36 48 A Mew Bankiusert Valid 100 125 000 3 047 lar eae aol IM A New Bankiuserl Rejected Ej Done OTTI Local intranet 5 Error messages Error messages in the adding offers section Invalid entries in the add offers section of the screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid offers cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the er
36. d click on the up or down arrow for one of the selected bids to move the rate for all selected bids concurrently Once the bids have been resubmitted they are deselected or bids can be deselected by un ticking the relevant tick box Prior to resubmission any changes made to bids in the top portion of the screen can be undone by pressing the undo all button D If the total of the bid amounts submitted exceeds the maximum allowable amount then an error message is presented The user should click OK adjust the bid amount s so they are less than or equal to the limit permitted and resubmit If a previously rejected bid meets the Bank s validation criteria after editing the status will be changed to valid Conversely if a previously valid bid no longer meets the Bank s validation criteria after editing it will be rejected Go 7 x Convert v PD Select Operation BANK OF ENGLAND CTRF 1383 1 000mn 14 01 2014 11 30 Q Time to go 20 24 Btender Test9 G Operation Timeta Active Bids Cancelled Bids Operation Timetable Maturit Bid Amt mn Today s or Next Operation Al Last Operation A CTRF 14 01 2014 CTRF Y Bids Offers CTRE Allocation amp Results C Plausibility Ranges CTRF A Static Defaults CTRF Configuration I Undo all Add Bids Description Bid Amt mn Spread bp Bid Amt mn Spread bp Bid Amt mn Spread bp Bid Amt 4mn Spread
37. e system the user is in and the current user s login details It also contains the logout button which should be used to exit the system Printing The user can print any of the Btender screens using the print options provided by Internet Explorer i e select the file menu and then print or use the print icon C For best results print the screens in landscape mode to ensure all the data fits on the page Btender Microsoft Internet Explorer provided by IE6 3 3 IE Policy Applied i E i iol x File Edit View Favorites Tools Help Internet Usage may he monitored Improper use may lead to disciplinary action ay Back 7 x E A ya Search 52 Favorites E Eco Links gt Address Operation AHB 306811 Counterparty iewer CounterpartyDealer Logout BANK OF ENGLAND Date Start End Amount mn Status Btender E am 3 Operation Timetable C Operation Timetable Today s or Next Operation Last Operation 0 s A EA l Done UN Mal A E UN Local intranet YA 5 Operation timetable screen The first screen shown on login is the operation timetable screen screen print below This screen displays all scheduled operations the user is eligible to participate in along with the operation details operation type date start end time amount when available and status The details link D is available on the right hand of the screen It provides acces
38. ecord of that bid from submission until completion of bidding including any changes example below 2 Btender Bid history Windows Internet Explorer provided by BOE IE Group Policy v5 0 File Edit View Favorites Tools Help YE abr Bhender Bid history Bid History for Bid Id 53977 Non GBP Nominal mn Bid Rate Time User Id Status 15 19 51 27 1146456 Valid 15 19 46 32 146456 Valid a Local intranet 100 Error messages Error messages in the adding bids section Invalid entries in the add bid offers section of the bidding screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid bids can not be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping Error messages in viewing and editing section When bids are submitted they pass through a number of validation checks These ensure that the bid does not breach any of the Bank s limits e g exceed maximum offer size allowed Ifa bid breaches any of the Bank s limits it will be automatically given a status of rejected and the screen below will appear The bid may be edited and resubmitted Non GBP Operation 978 USD Unlimited 13 04 2012 18 00 Time to go 03 49 Active Bids Cancelled Bids Maturity Bid Amt
39. ect the all option Bids offers can be filtered on status in a similar manner Users must take care to ensure that they do not forget to monitor manage bids offers by inadvertently leaving filtering on The other columns can be sorted in ascending or descending order by clicking on the underlined heading F One click on the heading will sort in ascending order a second click will sort in descending order a third click restores the original i e submitted order An arrow will appear beside the column title when a sort is on It is possible to use the sort functionality in combination For example if the columns are sorted on nominal amount and then sorted on rate the system will sort on rate within the nominal amount sort already selected Sort and filter preferences are only retained while the bidding offering screen is open 1 e if a user leaves the bid offer screen mid operation and then returns the sort filter preference will be lost Cancelled bids tab This screen displays any bids offers which have been submitted but subsequently cancelled These bids offers may not be resubmitted Validation Plausibility checks Various validation and plausibility ranges have been built into the system by the Bank The purpose of these checks is to prevent obvious input errors and to ensure users comply with the rules set out in the operational procedures e g do not enter offers below minimum allowable size do not enter offers w
40. ected automatically User set plausibility ranges are optional if no plausibility ranges are input the Bank plausibility ranges will apply the Bank plausibility prices will apply whether or not user plausibility yields are set and are set to catch obvious input errors so are relatively wide If the user decides to set plausibility ranges they must be set on the day of the tender Values may be changed once the operation has started Any value input during the operation will apply to all existing as well as any new bids To set plausibility ranges 1 Select the operation in the timetable screen by clicking on the operation link 2 Select the Plausibility Ranges plausibility link from the left hand menu A 3 Enter the reject clean price below and reject clean price above for each gilt in the boxes provided B The absolute price must be entered it 1s not a margin to a central value For example entering a lower price of 99 and an upper price of 101 means that bids with price s below 99 or above 101 are rejected Offers with values equal to the plausibility range values will be accepted as valid 4 The number of decimal places allowed is equal to the number of decimal places allowed for the offer price set out in the Operational Documentation 5 If an invalid value is entered in the box for example text or a value with too many decimal places the field will be highlighted in red and an error message will be provided The error
41. eds below counterparty Price entered outside plausibility range plausibility limit set by user Check and re enter price Amount exceeds gilt issue headroom The nominal amount submitted exceeds the maximum amount the Bank is able to purchase Reduce nominal amount and resubmit Offer exceeds max size for this maturity Amount exceeds the maximum amount range the Bank is able to purchase in this maturity range Reduce amount and po resubmit Total proceeds exceeds max amount for The total proceeds amount exceeds the this gilt maximum amount the Bank wishes to purchase for this gilt Reduce nominal and or price and resubmit Identical Offer 4 The user has entered multiple offers with Warning Message only the same values Identical offers are flagged for information in case they are a result of an input error They are not rejected so one or both must either be cancelled or amended if input in error Results The results for each operation will be released after offers have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the results publication the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of the
42. en print above To cancel a bid click on the rubbish bin icon corresponding to the bid to the right of the screen E The cancelled bid will be removed from the active bids screen and placed on the cancelled bids screen accessed via the cancelled bids tab Cancelled bids may not be amended or resubmitted Bid History A history log for each bid can be accessed by clicking the link in the maturity column F The bid history log provides a record of that bid from submission until completion of bidding including any changes example below E Bidding and Allocation System Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied File Edit View Favorites Tools Help Address i Bid History for Bid Id 329 Weekly Counterparty ANBank Nominal mrs Bid Rate Time User Status 1200 5 000 14 18 45 A Mew Bankiusert Valid 2200 5 000 14 17 45 A Mew Bankiusert Rejected 1200 5 000 1416 51 A Mew Bankiuserd Valid Ej Done areas 24 Local intranet a Error messages Error messages in the adding bids section Invalid entries in the add bid offers section of the bidding screen will result 1n the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid bids cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping
43. ent Date 1 2 06 07 Settlement Date 1 2 06 07 Settlement Date 1 2 06 07 Settlement Date 1 2 06 07 Settlement Date 1 2 06 07 Tools Help 06 06 07 Announcement on Short term Repo Tender Official bank rate Auction type Allotment method Date of operation Time for submission of bids Settlement date Maturity date Minimum bid amount Multiples of Total size of operation 5 50 Fixed rate tender Mon discriminatory rate basis O4 06 0F 4 10PM 4 20PM O4 06 0F 11 06 07 Stg Srp Stg Tron Stg 30 000mn Corporate bond APF auction example below o Bonds eligible for purchase in the tender o Total size of operation E Btender Tender Details Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied Internet Usage may he monitored Improper File Edit View Favorites Tools Help Tender Details 02 06 09 Announcement of Asset Purchase Facility Corporate Bond Secondary Market Scheme Operation 01 06 09 12 45PM 12 55PM Variable rate tender Uniform rate basis stg 1mn stg 0 1rmn stg 153mn Amount Stg mn Reference Gilt 2 UKT 4 09 16 Date of operation Time for submission of offers Auction type Allotment method Minimum bid amount Multiples of Total size of operation stocks offered for purchase AVLN 9 1 2 06 2056 settlement Date 04 06 04 BATSLN 5 3 4 12 09 13 5 UKT 450343 04 06 09 BGGRP 5 7 8 114342 5 UKT 5 03 12 04 06 09 BPLN 5 3 4 11 0850 5 UKT 4 75 0640 04 06 09 CENTRI 5
44. ext screen click on the Browsing button on the left hand menu if your default panel is not Browsing The following screen will be presented 3 Desktop Microsoft Internet Explorer provided by IE6 v3 2 IE Policy Applied File Edit View Favorites Tools Help Internet Usage may he monitored Improper use may lead to disciplinary action ar CLA E E FN YO search ST Favorites O A rel Address C ISWIFTAlliance_SDKWebStationhome WebStation_Standard html Links ALFUAT 4 Development MMR ReportManager TALFM Windows Media Google 4 Writing Quality Code TSQL am EE 2 SWIFTNet Browse control panel Browsing Status Stopped Browsing Time 00 00 00 00 On Message Confirmation ve a C C Off de File Transfer IAB Browsing BOE Tr WJLocalintranet 4 Click on the control button A in the left hand menu NOTE a user s individual setup may require a different selection at this point please contact your SWIFT Officer if necessary Set the Message Confirmation radio option to Off C only required for trouble shooting Then click on the start button B This will open an Internet Explorer screen 6 To access Btender Live enter https boe omo swiftnet sipn swift com in the address bar at the top of the screen The user will then be taken to the Btender timetable screen Note this URL may be saved as a favour
45. ey are deselected or bids can be deselected by un ticking the relevant tick box 13 Prior to resubmission any changes made to bids in the top portion of the screen can be undone by pressing the Undo All button F I S Active Bids Cancelled Bids E Description Reference Instrument Bid Spread Status Time B All v Nominal All mn G a i Vv BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 1 7 90 7 46 50 Y u C BRK 7 1 4 08 04 28 UKT 6 12 28 NN 85 Valid 7 46 40 T ILN 54 UKT 4 25 06 32 2 5 A 150 Valid m F O BGGR UKT 5 03 12 2 0 90 Valid 7 4 u Add Bids C Ticker Amount mn Spread Amount mn Spread Amount mn Spread Please select y If a previously rejected bid meets the Bank s validation criteria after editing the status will be changed to valid Conversely if previously valid bids no longer meet the Bank s validation criteria after editing then they will be rejected Cancelling bids To cancel a bid click on the rubbish bin icon G above corresponding to the bid to the right of the screen The cancelled bid will be removed from the active bids screen and placed on the cancelled bids screen accessed via the cancelled bids tab Cancelled bids may not be amended or resubmitted Bid History A history log for each bid can be accessed by clicking the link in the description column H above The bid history log provides a record of that bid from submission until completion of the te
46. ffer to adjust it up or down The Counterparty Increment box in the table below allows you to set the increments by which you can adjust the price rate spread before or during any operation All values are optional If the box is left blank the Bank Default Increments will apply Any increments you set will remain active until they are updated by you Op Type Corporate Bond Tender ECTR Fine Tune Gilt Tender ILTR LT Repo Non GBP Operation ST OMO Bid Offer Format Spread bp Spread bp Rate Price Spread bp Rate Rate Rate Build version Deployed Environment Database Current Omo Id Current CounterParty Id System Test Date System time page request Request Size Request Time Remoting Calls Heartbeat Bank Default Increments 0 1 0 001 0 000001 2 0 0 30346 03 April 2012 13 19 BTEND INTWEB1 BTenderTestUAT 54 Using Current Date Web 19 33 17 App 19 33 17 0 Bytes 826 8053 0 AL A 15 Contact details If users are experiencing problems with SWIFT they should contact their own IT support in the first instance If users experience problems with the Btender application they should call the Bank of England Sterling Markets Division via direct line or on 0207 601 5000 To get in contact with Bank of England back office call 0207 601 3635 Operational Documentation is available at www bankofengland co uk markets money documentation
47. hlighted in red and the user can hover over the field to display a pop up box which details the reason for the rejection See the errors section for further detail Any submitted bid rejected or valid may be edited in the top section of the screen as follows 1 Overtype the bid amount A A change to the bid will result in the revised amount being displayed in italics and the submit icon appearing on the right hand side of the screen B The status will go blank until the bid is resubmitted 2 The change can be resubmitted by either clicking on the submit icon to the right of the bid B OR by pressing the resubmit all button C If a user leaves the screen or the operation ends without resubmitting then the changes will be lost and the original bid will stand Prior to resubmission any changes made in the top portion of the screen can be undone by pressing the undo all button D If a previously rejected bid meets the Bank s validation criteria after editing the status will be changed to valid Conversely if a previously valid bid no longer meets the Bank s validation criteria after editing it will be rejected Active Bids Cancelled Bids E Maturity Bid Amt mn Bid Rate Status an an l Weekly 40 5 50 El mi t A A F B D C Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Submit All Cancelling bid scre
48. ht next to the timer For short term repo including fine tunes the timer will move from green to amber when there are two minutes remaining and from amber to red when there is one minute remaining For long term repo and bond purchase OMOs the timer will move from green to amber when there are five minutes remaining and from amber to red when there is one minute remaining The operation screen contains two tabs on the left hand side One for active bids offers and one for cancelled bids offers C Active bids offers tab The active bids tab is divided into two sections which are split by a movable splitter bar D The movable splitter bar enables users to adjust the viewable area of each section The area can be resized by pulling the splitter bar up down to resize The bottom section of the screen is where new bids offers are added and submitted Once offers have been submitted they are displayed in the top section of the screen where they can be amended or cancelled this functionality is described further below Filtering and sorting submitted bids offers It is possible to filter and sort bids offers by clicking on the column headings in the active bid tab Bids offers can be filtered by maturity for LTR or description for outright purchases click the relevant option in the drop down box which appears under the column heading E When a filter is on the drop down box will be highlighted in yellow To view all bids sel
49. id 17 16 13 A u i B A E E H y Add Bids C Ticker Bid Amt mn Spread Bid Amt mn Spread Bid Amt mn a Please select y Submit All If a previously rejected offer meets the Bank s validation criteria after editing the status will be changed to valid Conversely if previously valid offers no longer meet the Bank s validation criteria after editing then they will be rejected Cancelling Offers To cancel an offer click on the rubbish bin icon G above corresponding to the offer to the right of the screen The cancelled offer will be removed from the active offers screen and placed on the cancelled offers screen accessed via the cancelled offers tab Cancelled offers may not be amended or resubmitted Offer History A history log for each offer can be accessed by clicking the link in the description column H above The offer history log provides a record of that offer from submission until completion of the tender including any changes example below E Btender Bid history Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied File Edit View Favorites Tools Help Internet Usage may be monitored Improper use may lead to disciplinary action Back gt T x 2 CA pa Search Se Favorites E lie Bid History for Bid Id 8955 BRITEL 3 6 03 26 20 X50052067583 Counterparty ANOB 10 Nominal mn Time User Id Status 450 00 122710 Another Bank 101146944 Valid 550 00 122705 Another Bank 1
50. internal clock of the PC it 1s running on at the firm s premises standard convention will be used to convert to London time if the user is in a different time zone so the clock starts at the correct time It is the user s responsibility to ensure that each relevant PC clock is showing the correct local time and is therefore in line with the Btender application clock allowing for different time zones to ensure that the countdown timer is accurate If the clock is incorrect then the operation could close in Btender before the counterparty countdown timer reaches zero or still be open after this point The time it takes for submitted bids to reach SWIFT Net from a counterparty s PC will vary according to specific factors e g bandwidth capacity and utilisation The user must consider this delay when submitting bids Bids will be time stamped upon receipt by SWIFT and any bids with a timestamp after the end time of the operation will be rejected Users should therefore exercise caution when submitting bids in the final few seconds of an operation 4 General screen layout screen print below Left hand menu A There is a left hand menu bar on all the screens The first section of the menu bar can be used to navigate back to the operation timetable or the current last tender The second section of the menu bar is context sensitive and provides screens relevant to the selected operation Top bar B The top bar shows the area of th
51. ite in Internet Explorer or dedicated Browse icons can be created in WebStation as required When using Btender Trial enter https boe omo trial swiftnet sipn swift com in the address bar 7 Enter your SWIFTNet password when prompted Pi The Bank will operate from one of two sites however this does not affect the link used to access Btender Live or Trial If a user changes the business location from which they login to SWIFT this may affect their SWIFT subscription to Btender This may affect both the user and infrastructure BIC s The user must be aware of this when working from their disaster recovery site and ensure all sites from which Btender is used have the correct SWIFT subscription Any location changes must be notified to the Bank to ensure setup is enabled and the connection can be tested Btender is currently supported on Internet Explorer version 6 BIC stands for Bank Identifier Code and is a unique address which in telecommunication messages identifies precisely the financial institutions involved in financial transactions Access Rights Firms can configure the access rights for each person user able to login to Btender There are 2 levels of access viewer view only no input rights and dealer able to view input and amend The levels correspond to the SWIFTNet roles member and supermember SWIFT roles are allocated to each user by the firm s SWIFT Security Officer Each firm needs
52. ith an incorrect bid offer increment An error message will be provided if an entry is invalid or breaches a plausibility check Relevant only for operations where more than one bid offer is submitted Operation Close At operation close the bidding offer screen will become read only preventing further bid submission amendment or cancellation note this process may take a few seconds any bids entered after the close of the operation will however be rejected The screen will automatically refresh to show the operation results when these are available 7 Weekly and fine tune repo OMOs Setting plausibility ranges screen print below The system allows users to set their own rate plausibility ranges at counterparty level i e the ranges apply to anyone bidding for that counterparty in that operation for each maturity Any bids submitted with rates which exceed the upper plausibility limit or are below the lower plausibility limit will be rejected automatically User set plausibility ranges are optional if no plausibility ranges are input the Bank plausibility ranges will apply the Bank plausibility rates will apply whether or not user plausibility rates are set and are set to catch obvious input errors so are relatively wide If the user decides to set plausibility ranges they must be set on the day of the tender Values may be changed once the operation has started Any value input during the operation will apply to all existi
53. kly repos fine tune operations long term repos the Contingent Term Repo Facility CTRE and outright bond purchases Asset Purchase Facility APF corporate bond and gilt auctions and Non GBP operations This guide provides an outline of the key features of Btender including a detailed overview of how to take part in each operation type Generic functionality and instructions are described in sections 2 6 and section 14 Specific instructions for each type of operation are provided in sections 7 13 Section 15 contains contact details The Bank of England s Sterling Monetary Framework are governed by the Terms and Conditions and Operating Procedures available at http www bankofengland co uk markets money documentation htm APF corporate bond auctions are governed by the Terms and Conditions available at http www bankofengland co uk markets apf documentation htm US dollar repo operations are governed by the supplementary Terms and Conditions available at http www bankofengland co uk markets Pages other dollarrepo default aspx This User Guide may be updated amended from time to time with or without notice The latest version of the guide will be published on the Bank of England website at http www bankofengland co uk markets money documentation htm A description of the Bank of England Sterling Monetary Framework is provided in the The Framework for the Bank of England s Operations in the Sterling Money Markets
54. l Amount of Bids Received Total Amount of Bids Accepted Today s or Next Operation 999 998 00mn 999 998 00mn i Last Operation Non GBP USD H Non GBP Operation a H 2 43 04 2012 Amount on Offer mn Unlimited Bids Offers va ived mn Allocation amp Results oo gon udrio H Omo Bid Allocated 100 00 Static Defaults i Configuration f am 1 A Allocation Results E Download i Maturity Bid Rate Bid Amt mn Alloc Amt Status mn Non GBP 15 999 998 999 998 00 VFA Non GBP 1 5 100 0 00 CAN C L 2 0 0 30346 03 April 2012 13 19 BTEND INTWEB1 BTenderTestUAT Curent Omo ld 978 Current CounterParty Id 19 System Test Date Usina Current Date Build version Deployed Environment Database 14 Static Defaults Spin Increment Configuration When a counterparty submits a bid or offer it then moves to the Active Bids Offers window Within that window counterparties have the ability to amend the price rate spread by either overtyping or using arrows next to each bid or offer to adjust it up or down The system allows users to set their own increments at counterparty level 1 e the increments apply to anyone bidding for that counterparty in that operation by which they can adjust the price rate spread before or during any operation Counterparty spin increments are optional if no counterparty increment is set the B
55. m right of the screen D 3 Btender Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied ae iol xj File Edit View Favorites Tools Help Internet Usage may be monitored Improper use may lead to disciplinary action ae Gx O x 12 Pseae gravas FA S Address E so Links gt Operation ANOB11 146944 CounterpartyViewer CounterpartyDealer 8 Logout BANK OF ENGLAND STR 896 Liquidity Providing 100mn 23 07 2008 10 19 Time to go 04 38 gt Btender Teti Active Bids Cancelled Bids Operation Timetable Maturity Bid Amt mn Bid Rate Status Operation Timetable iam gt cam Today s or Next Operation Last Operation STR 23 07 2008 Bids Offers Allocation amp Results Undo all Re submit all Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Weekly oh 1 N E WET B A A D y WWLocalintranet Z Viewing and editing the bid screen print below The submitted bid will be displayed in the top section of the active bids tab The bid status at this point will either be valid or rejected Valid bids have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected bids are those which have failed the Bank s validation criteria If a bid is rejected the amount field will be hig
56. mber and supermember in the same way Annex 2 Calculation of total proceeds Total proceeds clean price accrued interest nominal amount redemption value of gilt Accrued interest is calculated as set out in the DMO guidelines refer to http www dmo gov uk documentview aspx docname giltsmarket formulae yldegns pdfi amp page Gilts Formulae page 25 The accrued interest is calculated per gilt i e based on the face value Annex 3 Icon Guide pre operation information a Spin price rate price down up 7 confirmation term sheet asset swap OMOs t cancel bid offer A identical bid submit bid offer 3 download page hover over to view error message
57. mn Please select v Request Time oting Cal Error messages for Indexed LTR You must enter numeric data only You have either entered non numeric data Numbers up to 999999 up to X decimal e g letters or too many decimal places places allowed Negative numbers are Amend input and resubmit not permitted Bid amount is less than min amount Bid submitted is below the minimum bid amount for this operation Refer to operating procedures or operation details for minimum amounts Spread differs significantly from Bank limits Check and re enter rate plausibility limit counterparty set plausibility limits Identical Bid 4 The user has entered multiple bids with Warning Message Only the same values Identical bids are flagged for information in case they are a result of an input error They are not rejected so one or both must either be cancelled or amended 1f input in error Results The results for each operation will be released after bids have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link 1s selected prior to the publication of the operations results the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of
58. must be corrected before the plausibility ranges can be saved 6 Press the save changes button C 7 The prices can be changed at any time by overtyping the saved values and pressing save changes 2 Blender Windows Internet Explorer provided by BOE IE Group Policy v5 0 vl i XxX G File Edit View Favorites Tools Help ve de tender BANK OF ENGLAND Btender P El gt eh pea O Offer Plausibility Ranges Test1146456 Counterparty Viewer CounterpartyDealer Logout Gilt Tender 802 Purchase Tender 1 000mn 17 11 2011 15 00 Setup Complete Vat Plausibility Ranges Operation Timetable Operation Timetable Welcome to the above operation due to take place on 17 11 2011 Today s or Next Operation Last Operation Please enter your plausibility ranges before or during the operation All values are optional If a limit is left blank no checking against that limit will take place You may enter only one of a pair upper or lower if you wish and only that side of the check will be applied Gilt Tender 17 11 2011 dle i ji Bids Offers Values may be changed once the operation has started Any values input during the operation will apply to all existing as well as any new offers Allocation amp Results Plausibiljty Ranges Offers with values within or equal to the plausibility range values will be regarded as valid offers containing values outside the range values specified
59. ncelled Bids tab Cancelled bids may not be amended or resubmitted Bid History A history log for each bid can be accessed by clicking the link in the collateral type H above The bid history log provides a record of that bid from submission until completion of bidding including any changes example below io Y N y N p a af E EAS y 7 I um X a k y ku e http btend webtst Test9 BidHisto ry aspx bidl p x Btender Bid history x Bid History for Bid Id 72920 03 Month Counterparty Bank 1 Nominal PAE EE Spread Level C bp Time User Id 11 36 26 Bank 11147603 11 36 21 Bank 11147603 11 35 48 Bank 11147603 Error messages Error messages in the adding bids section Invalid entries in the add bid offers section of the bidding screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid bids cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping Error messages in viewing and editing section When bids are submitted they pass through a number of validation checks These ensure that the bid does not breach any of the Bank s limits e g exceed maximum offer size allowed and that basic input errors have not been made e g entering a spread of 900 instead of 90
60. nder including any changes example below Bid History for Bid Id 8955 BRITEL 8 5 8 03 26 20 X50052067583 Counterparty ANOB 10 Nominal Emn Spread Time User Id Status 14 450 00 12 27 10 Another Bank 101146944 Valid 15 550 00 122705 Another Bank 101146944 Valid 145 500 00 122701 Another Bank 101146944 Valid 1 0 500 00 12 26 53 Another Bank 101146944 Walid Error messages Error messages in the adding bids section Invalid entries in the add bids section of the screen will result in the field containing the error being highlighted in red and a red dot being displayed next to that field Invalid bids cannot be submitted to the Bank The user should hover over the red dot to reveal the reason for the error e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping and re submitting Error messages in viewing and editing section When bids are submitted they pass through a number of validation checks These ensure that the bid does not breach any of the Bank s limits e g exceed maximum bid size allowed and that basic input errors have not been made If a bid breaches any of the Bank s limits 1t will be automatically given a status of rejected and the text in the field containing the value that has failed the check will be red The user can hover over the field to obtain an error message describing the reason for rejection see example below The bid can then be overtyped and
61. ng as well as any new bids To set plausibility ranges 1 Select the operation in the timetable screen by clicking on the operation link 2 Select the Plausibility Ranges link from the left hand menu A 3 Enter the reject rate below and reject rate above for each maturity in the boxes provided B Bids offers with values equal to the plausibility range values will be accepted as valid 4 The number of decimal places allowed is equal to the number of decimal places allowed for the bid offer rate set out in the Operational Documentation 5 If an invalid value is entered in the box for example text or a value with too many decimal places the field will be highlighted in red and an error message will be provided The error must be corrected before the plausibility rates can be saved Press the save changes button C The rates can be changed at any time by overtyping the saved values and pressing save changes ad f Btender Windows Internet Explorer provided by BOE IE Group Policy 5 0 Go File Edit View Favorites Tools Help we a tender a E da gt Page cx Bid Plausibility Ranges Testi146456 CounterpartyViewer CounterpartyDealer Y Logout BANK OF ENGLAND ST OMO 805 Liquidity Providing 1 000mn 17 11 2011 16 00 Setup Complete Btender Uat Plausibility Ranges Operation Timetable Operation Timetable Welcome to the above operation due to take place on 17 1
62. of an input error They are not rejected so one or both must either be cancelled or amended if input in error Results The results for each operation will be released after bids have been allocated by the Bank To view the results for a specific operation 1 Select the appropriate operation in the timetable screen 2 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the publication of the operations results the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of the screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcement and include the total amount of bids accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the bid s submitted by the counterparty and the allocation obtained B Any cancelled bids will also be displayed The history for the bid is available by clicking on the underlined text in the maturity column The abbreviations in the status column C stand for the following VFA valid bid fully allocated VPA valid bid pa
63. on gt Operation EE Cour terparty Viewer CounterpartyDealer 3 Logout Non GBP Operation 978 USD Unlimited 13 04 2012 18 00 Time to go 14 35 v En v Last Operation EN Non GBP Operation 13 04 2012 Bids Offers Allocation amp Results Static Defaults Configuration Undo all Re submit all Add Bids Description Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bid Amt mn Bid Rate Bi hn Bid Rate Non GBP C gt H f B A D Done a Local intranet E 100 Viewing and editing the bid screen print below The submitted bid will be displayed in the top section of the active bids tab The bid status at this point will either be valid or reyected Valid bids have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected bids are those which have failed the Bank s validation criteria If a bid is rejected the amount field will be highlighted in red and the user can hover over the field to display a pop up box which details the reason for the rejection See the errors section for further detail Any submitted bid rejected or valid may be edited in the top section of the screen as follows 1 Overtype the bid amount A A change to the bid will result in the revised amount being displayed in italics and the submit icon appearing on the right hand side of the screen B
64. on criteria will be highlighted in red and the user can hover over the field display a pop up box which details the reason for the rejection See the errors section for further detail Any submitted bid rejected or valid may be edited in the top section of the screen as follows l Overtype the bid amount A A change to the bid will result in the revised amount being displayed in italics and the submit icon which will appear on the right hand side of the screen B The status will go blank until the bid is resubmitted The change can be resubmitted by either clicking on the submit icon to the right of the bid B OR by pressing the resubmit all button C Ifa user leaves the screen or the operation ends without resubmitting then the changes will be lost and the original bid will stand Prior to resubmission any changes made in the top portion of the screen can be undone by pressing the undo all button D Alternatively one or more spreads can be changed by using the spinner To use the spinner on a single bid click the up or down arrows next to the spread field E each click will move the bid rate up or down by 1 basis point The bid rate on multiple bids can be spun at the same time To do this either select the group of bids to be spun using the tick boxes F on the left hand side of the screen or select all bids using the top left tick box G Once the relevant bids have been selecte
65. op up box which details the reason for the rejection See the errors section for further detail Any submitted bid rejected or valid may be edited in the top section of the screen as follows 1 Overtype the bid amount and or spread A A change to the bid will result in the revised amount being displayed in italics 2 The change can be resubmitted by either clicking on the submit icon that will appear to the right of the bid OR by pressing the resubmit all button C Ifa user leaves the screen or the operation ends without resubmitting then the changes will be lost and the original bid will stand 3 Alternatively one or more spreads can be changed by using the spinner To use the spinner on a single bid click the up or down arrows next to the spread field D each click will move the bid rate up or down by 1 basis point The bid rate on multiple bids can be spun at the same time To do this either select the group of bids to be spun using the tick boxes E on the left hand side of the screen or select all bids using the top left tick box J Once the relevant bids have been selected click on the up or down arrow for one of the selected bids to move the rate for all selected bids concurrently Once the bids have been resubmitted they are deselected or bids can be deselected by un ticking the relevant tick box 4 Prior to resubmission any changes made to bids in the top portion of the screen can be undone
66. or messages in viewing and editing section When bids are submitted they pass through a number of validation checks These ensure that the bid does not breach any of the Bank s limits e g exceed maximum offer size allowed and that basic input errors have not been made e g entering a spread of 900 instead of 90 If a bid breaches any of the Bank s or counterparty s limits or plausibility checks it will be automatically given a status of rejected and the text in the field containing the value that has failed the check will be red The user can hover over the field to obtain an error message describing the reason for rejection see example below The bid can then either be overtyped and resubmitted or cancelled Resubmitted bids which no longer breach plausibility or Bank limits will be given a valid status Operation ABOBLO 147603 CounterpartyViewer CounterpartyDealer Logout BANK OF ENGLAND CTRF 1383 1 000mn 14 01 2014 11 30 Time to go 19 51 Btender E Too naun Operation Timetable Active Bids Cancelled Bids Operation Timetable Maturity Bid Amt mn Spread bp Status Today s or Next Operation AI X AI v Last Operation CTRF 14 01 2014 maan 100 51 valid i Bids Offers _ A z Allocation amp Results CTRE 52 S Plausibility Ranges CTRF 100 53 Valid mi i Static Defaults E A CTRF 100 63 Rejected mj Configuration pz aaa Add Bids
67. ow Enter your username A and password B in the boxes provided If using a SWIFTAlliance Gateway the Logon mode must be selected from the dropdown box as SWIFTNet user C and the appropriate Gateway instance must be selected from the Gateway instance dropdown box D 3 Desktop Microsoft Internet Explorer provided by IE6 v3 2 IE Policy Applied gt Al E ioj xj File Edit View Favorites Tools Help Internet Usage may he monitored Improper use may lead to disciplinary action ae Back GJ x a TN JO search 5 2 Favorites Es all rel Address C SWIFTAlliance_SDKWWebStationhomeWebStation_Standard html Links ALFUAT Development MMR 4 Report Manager TALFM E Windows Media Google 4 Writing Quality Code 2 TSQL SWIFTAlliance WebStation Release 5 0 0 Log On A User Name Password a Logon mode SWiFTNet User y Gateway instance gt Copyright NP This software is provided under licence Its content and documentati cannot be distributed or disclosed to third parties without the prior written consent of SWIFT SWIiFTAlliance WebsStation Copyright O SVVILF T SCRL SWIFT avenue Adele 1 B 1310 La Hulpe D Belgium or its licensors 2004 All rights reserved seo E Applet com swift ui desktop StartDesktopApplet started je Local intranet 3 When the information has been completed click on the logon button On the n
68. peration has started the bidding screen can be selected by clicking the link corresponding to the operation in the timetable 2 Itis possible to submit multiple bids across one or more collateral types at a time To do this select the collateral type A required from the drop down list and enter bids as required in the boxes provided 3 Enter the amount in mn B and spread C for each bid The minimum bid amount and increment are shown in the OMO details F 4 There are two ways to submit bids to the Bank once bid input is complete a To submit an individual bid click on the submit icon D displayed to the right of the row Any other bids will remain in the Add Bids section b To submit all bids in the Add Bids section the user should press the submit all button E NOTE the submit all button submits bids for all collateral sets Viewing and editing bids screen print below The submitted bid s will be displayed in the top section of the Active Bids tab The bid status at this point will either be valid or rejected Valid bids have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected bids are those which have failed the Bank s or counterparty s validation criteria If a bid is rejected the field s which have failed the validation criteria will be highlighted in red and the user can hover over the field to display a p
69. r or lower if you wish and only that side of the check will be applied Bids Offers Values may be changed once the operation has started Any values input during the operation will apply to all existing as well as any new bids Allocation amp Results Plausibility Ranges Bids with values within or equal to the plausibility range values will be regarded as valid bids containing values outside the range values specified will be automatically rejected gt Static De aults Configuration Maturity Bucket Reject Spread Below Reject Spread Above CTRF A E gt e Counterparty x x D Bid Plausibility Ranges ABOBLO 147603 Counterparty Viewer CounterpartyDealer 3 Logout BANK OF ENGLAND CTRF 1383 1 000mn 14 01 2014 11 30 Time to go 25 36 Btender ofa Adding bids r Go an 7 Entry aspx prox 2 Btender gt x Convert P Select Operation ABOBLO 147603 CounterpartyViewer CounterpartyDealer 3 Logout BANK OF ENGLAND CTRF 1383 1 000mn 14 01 2014 11 30 Q Time to go 21 37 a Btender Operation Timetable Active Bids Cancelled Bids Operation Timetable A Maturity Bid Amt mn Spread bp Status Today s or Next Operation AI Al Last Operation CTRF 14 01 2014 Bids Offers Allocation amp Results Plausibility Ranges Static Defaults Configuration Undo all Re submit all Z Add Bids Description Bid Amt mn Spread bp Bid Amt mn Spread bp Bid Amt mn
70. r price up or down by 0 001 The price on multiple offers can be spun at the same time To do this either select the group of offers to be spun using the tick boxes E on the left hand side of the screen or select all offers using the top left tick box I Once the relevant offers have been selected click on the up or down arrow for one of the selected offers to move the rate for all selected offers concurrently Once the offers have been resubmitted they are deselected or offers can be deselected by un ticking the relevant tick box 4 Prior to resubmission any changes made to offers in the top portion of the screen can be undone by pressing the undo all button F Active Offers Cancelled Offers B re Description Nominal Clean Price Yield Total Proceeds Status Time G an mn an de E UKT 6 160428 50 101 900 gt 5 972 152 850 000 00 15 03 27 Y a UKT 6 160428 100 98 200 ps 6 302 98 200 000 00 Valid 15 03 27 mi Li UKT 4 25 071227 250 101 200 4 199 253 000 125 00 Valid 15 03 10 f V D E A extn emps H Add Offers C Description Nominal mn Price Nominal mn Price Nominal mn Price Nominal mn Price Please select y If a previously rejected offer meets the Bank s validation criteria after editing the status will be changed to valid Conversely if previously valid offers no longer meet the Bank s validation criteria after editing then they will be rejected Cancelling offers To cancel an offer
71. resubmitted or cancelled Resubmitted bids which no longer breach Bank limits will be given a valid status Active Bids Cancelled Bids i Description Reference Instrument Bid Spread Status Time All v Nominal All mn l E BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 17 90 z Valid 7 47 36 mj E BRK 7 1 4 08 04 28 UKT 6 12 28 10 0 85 Rejected 7 47 46 u E HILN 5 3 4 12 03 32 UKT 4 25 06 32 2 5 150 S Valid Bid exceeds max size for this Bond 2 0 mn imi T BGGRP 5 7 8 11 13 12 UKT 5 03 12 2 0 90 Valid 7 45 36 mi w Undo all Re submit all 1 Error messages for corporate bond APF tender Explanation You must enter numeric data only Either non numeric data e g letters or Numbers up to X with up to Y decimal too many decimal places have been places allowed Negative numbers are entered The input must be amended and not permitted resubmitted Bid exceeds max size for this Bond Bid exceeds maximum bid amount Bid exceeds max allowable amount Sum of bids is greater than the overall size of the operation Bid amount is less than min amount Bid is less than the minimum bid amount Bid amount is not valid increment Bid amount is not a valid increment Identical Bid 2 The user has entered multiple bids with the same values Identical bids are flagged for information in case they are a result of an input error They are not rejected so one or both must be either cancelled or amended if input in error Results The
72. results for each operation will be released after bids have been allocated by the Bank To view the results for a specific operation 14 Select the appropriate operation in the timetable screen 15 Select the allocation and results link from the left hand menu bar If the allocation and results link is selected prior to the results publication the screen will show a Waiting for allocation message This will automatically refresh to show the results when these are available The top section of the screen will show the high level aggregate results for the operation A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcements and include the total amount of bids received and accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the bid s submitted by the counterparty and the allocation obtained B Any cancelled bids will also be displayed The history for the bid is available by clicking on the underlined text in the description column The abbreviations in the status column C stand for the following VFA valid bid fully allocated VPA valid bid partially allocated VUA valid bid unallocated CAN cancelled bid REJ rejected bid The screen contains download 2 icons
73. ror e g incorrect number of decimal points non numerical text entered The error can be corrected by overtyping Error messages in viewing and editing section When offers are submitted they pass through a number of validation checks These ensure that the offer does not breach any of the Bank s limits e g exceed maximum offer size allowed and that basic input errors have not been made e g entering a price of 1001 instead of 100 1 If an offer breaches any of the Bank s limits or plausibility checks it will be automatically given a status of rejected and the text in the field containing the value that has failed the check will be red The user can hover over the field to obtain an error message describing the reason for rejection see example below The offer can then be overtyped and resubmitted or cancelled Resubmitted offers which no longer breach plausibility or Bank limits will be given a valid status 3 Btender Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied af xj File Edit View Favorites Tools Help Internet Usage may be monitored Improper use may lead to disciplinary action ay Back A z x B A yo Search SH Favorites E ES Address Go Links i a a Operation AHBAHNK wser1 Counterparty viewer CounterpartyDealer 3 Logout BANK OF ENGLAND Gilt Tender 1000 mns 2405 2007 10 34 Time to go 04 36 Btender Operation Timetable Active Offers
74. rtially allocated VUA valid bid unallocated CAN cancelled bid REJ rejected bid The screen contains a download 43 icons in the upper and lower sections which can be used to export the data on the screen in csv format e g 1f the user wants to create a time series in Excel ABOBLO 147603 Counterparty Viewer CounterpartyDealer 3 BANK OF ENGLAND CTRF 1383 1 000mn 14 01 2014 11 30 Btender Operation Timetable a e TO Operation Timetable Total Amount of Bids Accepted Today s or Next Operation 400 00mn Last Operation CTRF 14 01 2014 Anica oa Oita Evan Bids Offers Amount Allotted mn Allocation amp Results Clearing Spread Plausibility Ranges Static Defaults Configuration 3 Download Allocation Results 5 Download Maturi Bid Spread Bid Amt Alloc Amt Alloc Spread bp Status AI mn mn AI CTRF 100 00 50 VFA G C CTRF 100 00 50 VFA CTRE 100 00 50 VFA CTRF 50 00 50 VFA CTRE 50 00 50 VFA Build version Deployed 10 Gilt Purchases SMF and APF Setting plausibility ranges The system allows users to set their own price plausibility ranges at counterparty level 1 e the ranges apply to anyone offering for that counterparty in that operation for each gilt that the Bank is offering to purchase in an operation Any offers submitted with yields which exceed the upper plausibility limit or are below the lower plausibility limit will be rej
75. rtyDealer Logout BANK OF ENGLAND Gilt Tender 1 000mn 24 05 2007 10 34 O Complete Btender Operation Timetable Overall Tender Results HB Download Operation Timetable Today s or Next Operation Total Amount of Offers Received Total Amount of Offers Accepted Sector Cover Ratios SHORT MEDIUM LONG Last Operation 1 521 17mn 549 60mn 0 74 050 0 28 Description Total Offers Total Offers Weighted Weighted Highest Allocated Lowest Tail Bids Offers Am Received Accepted average average accepted at Accepted Allocation amp Results mn mn Yield Price Price Highest hest Price Price Price Rate Plausibility UKT_4 75_070610 594 79 49 88 4 749 100 000 100 000 12 84 100 000 0 000 UKT_6 25_ 251110 150 00 150 00 6 250 100 000 100 000 100 00 100 000 0 000 UKT_4 75_070915 141 43 141 43 4 749 100 000 100 000 100 00 100 000 0 000 UKT_8_071215 353 67 58 39 7 999 100 000 100 000 16 51 100 000 0 000 UKT_8_070621 281 29 149 90 7 933 100 627 120 000 3 45 100 000 19 373 IS A Allocation Results W Download Description Clean Price Yield Nom Tp mn Alloc Nom Alloc Tp Status an wy 2 mn mn mn Am UKT 8 071215 100 000 7 999 101 104 75 16 70 17 32 VPA UKT 8 071215 100 000 7 999 100 103 71 16 50 17 11 VPA UKT 4 75 070610 100 000 4 749 140 143 09 18 00 18 40 YPA B _ H UKT 4 75 070610 100 000 4 749 100 102 21 12 80 13 08 VPA UKT 8 070621 120 000 5 886 110 136 09 3 80 470 VPA UKT 4 75 070610 100 998 4 395 100 10
76. s to pre operation announcement information see separate section below On the day of the operation the operation type is shown as an active link A and the user can click on this to access the bidding screen or set plausibility ranges as described below By default the timetable will be sorted by date with the scheduled next operation shown at the top of the screen However it is possible to sort and filter the list by operation type or date To sort the list click on the column headings B one click to sort in ascending order two clicks for descending order and three click to return to the default order To filter the list select the desired option from the drop down list box located under the column headings C When a filter is in use the drop down box will be highlighted in yellow The results for past operations can be accessed via this screen by selecting the All option in the date filter option The filter options are not retained after the user leaves the screen or if the screen refreshes following an automatic update for example when the operation changes status 3 Btender Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied E Hozi File Edit View Favorites Tools Help Internet Usage may be monitored Improper uce mav lead to disciplinary action ay tax gt De x 2 E Osea 5 Favorites E Sa B Address Eo Links gt 3 a A F Operatiop Timet res A
77. ser can hover over the field to display a pop up box which details the reason for the rejection See the errors section for further detail Any submitted bid rejected or valid may be edited in the top section of the screen as follows 10 Overtype the bid amount and or spread A A change to the bid will result in the revised amount spread being displayed in italics and the submit icon will appear on the right hand side of the screen B The status will go blank until the bid is resubmitted 11 The change can be resubmitted by either clicking on the submit icon to the right of the bid B OR by pressing the Resubmit All button C Ifa user leaves the screen or allows the operation to end without resubmitting then the changes will be lost and the original bid will stand 12 Alternatively one or more bid spread fields can be changed by using the spinner To use the spinner on a single bid click the up or down arrows a next to the spread field D each click will move the bid spread up or down by lbp The spread on multiple bids can be spun at the same time To do this either select the group of bids to be spun using the tick boxes E on the left hand side of the screen or select all bids using the top left tick box 1 Once the relevant bids have been selected click on the up or down arrow for one of the selected bids to move the rate for all selected bids concurrently Once the bids have been resubmitted th
78. t Date 2004 07 Auction Type variable Rate Tender Allotment Method Discriminatory Price Basis Minimum Offer Amount sta 1mn Multiples of sta 1mn Total size ofoperatior Stg 1000rnn 3 Month 91 days maturing on 20 0707 Stg 900rnr 6 Month 182 days maturing on 1970 07 sta 300rnr 4 month 276 days maturing on 21 01 06 sta 100rnr 12 Month 367 daysi maturing on 21 04 08 Stg 100mn kloon EE Si teeatintranet y Outright gilt purchase example below o Bonds eligible for purchase in the tender o Purchase amount for each bond Bidding and Allocation System Microsoft Internet Explorer provided by IE6 v3 3 IE Policy Applied Tender Details Date of operation Time for submission of offers Auction type Allotment method Minimum offer amount Multiples of Total size of operation 23 05 07 Announcement on Git Tender 21 05 07 2 15PM 2 45PM Variable price tender Discriminatory price basis Stg 5mn Stg 1mn Stg 600rnn All bond purchases will be based on relative value within the maturity sector Maturity range 01 01 08 31 124 Eligible stocks UKT_5_070312 UKT_5_070914 Maturity range 01 01 15 31 12 20 Eligible stocks UKT_4 75_070915 UKT_4 070916 Maturity range 01 01 21 31 12 27 Eligible stocks UKT_8_070621 UKT_5_070325 For short term repo the pre operation information is available on day of the operation as follows File Edit Wiew Tender Details Favorites Settlement Date 1 2 06 07 Settlem
79. t View Favorites Tools Help Internet Usage may be monitored Improper use may lead to disciplinary action ae Back gt x a A pe Search SH Favorites c ES Address Eco Links gt gt d Operation ANBANKuser1 CounterpartyWiewer CounterpartyDealer Logout BANK OF ENGLAND Gilt Tender 1000 mns 2405 2007 10 34 Time to go 07 22 e Btender Operation Timetable Active Offers Cancelled Offers Operation Timetable E Description Nominal Clean Price Yield Total Status Time Today s or Next Operation cam 5 mns Proceeds fain Last Operation Gilt Tender 24 05 2007 Bids Offers Allocation amp Results Price Rate Plausibility Add Bids Description Nominal mns Price Nominal mns Price Nominal mns Price Nominal mns Price UKT_4 75_070610 UKT_6 25_251110 gt y A al Local intranet Viewing and editing offers screen print below The submitted offers will be displayed in the top section of the active offers tab The offer status at this point will either be valid or rejected Valid offers have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected offers are those which have failed the Bank s validation criteria If an offer is rejected the field s failing the validation criteria will be highlighted in red and the user can hover over the field display a pop
80. the operation has started Any values input during the operation will apply to all existing as well as any new bids Allocation amp Results Plausibility Ranges Bids with values within or equal to the plausibility range values will be regarded as valid bids containing values outside the range values specified will be automatically rejected MN gt Static Defaults onfiquration Collateral Type Reject Spread Below Reject Spread Above 03 Month CollateralSetA 03 Month CollateralSetB 03 Month CollateralSetC Adding bids r Go e http btend webtst T est9 BidEntry aspx Pr ex 2 Btender x x Convert v P Select ABOBLO 147603 CounterpartyViewer CounterpartyDealer 3 Logout A X LA ILTR 1382 14 01 2014 11 30 qe Time to go 24 19 a gt tender F B B 5 S Vem a r l Bid Spread is a spread to Bank Rate 0 5000 Operation Timetable Operation Timetable Today s or Next Operation Collateral Type Bid Amt mn Level A Bid Spread Level B Bid Spread Level C Bid Spread Status Last Operation Al bp bp bp Al ILTR 14 01 2014 Bids Offers Allocation amp Results Active Bids Cancelled Bids Plausibility Ranges l gt Static Defaults Configuration Undo all Re submit all Add Bids e n Level A Level B Level C tei Eea Amit oon Bid Spread bp Bid Spread bp Bid Spread bp Level A 0 Level B Level C Please select v A 639 6041 1 Once an o
81. tion A these are shown regardless of whether a user has participated in the operation The aggregate results mirror the information provided in the wire services announcement and include the total amount of bids received and accepted across all counterparties in addition to standard summary statistics for each operation If a user has participated in the operation the bottom section of the screen will show the bid submitted by the counterparty and the allocation obtained B Any cancelled bids will also be displayed The history for the bid is available by clicking on the underlined text in the Maturity Date column The abbreviations in the status column C stand for the following VFA valid bid fully allocated VPA valid bid partially allocated VUA valid bid unallocated CAN cancelled bid REJ rejected bid The screen contains download 2 icons in the upper and lower sections which can be used to export the data on the screen in csv format e g if the user wants to create a time series in Excel Btender Windows Internet Explorer provided by BOE IE Group Policy v5 0 kos O Go Thy Fie Edit view Favorites Tools Help 2 O Boman Results of Operati BANK OF ENGLAND Non GBP Operation 978 USD Unlimited 13 04 2012 18 00 Btender Overall Tender Results Download gt Operation Timetable Operation Timetable Tota
82. tive Offers Cancelled Offers E Description Reference Bid Amount mn Spread Status Time lam E Instrument mn E BRITEL 8 5 8 03 26 20 UKT 4 75 03 20 1 0 500 g 17 11 05 E T D Undo all Add Bids Ticker Bid Amt mn Spread Bid Amt mn Spread Bid Amt mn Spread BRITEL 8 5 8 03 26 20 2 400 E Please A y Submit All A B C Viewing and Editing Offers screen print below The submitted offers will be displayed in the top section of the active offers tab The offer status at this point will either be valid or rejected Valid offers have passed the Bank s validation criteria and will be included in the allocation process at the end of the operation Rejected offers are those which have failed the Bank s validation criteria If an offer is rejected the field s failing the validation criteria will be highlighted in red and the user can hover over the field to display a pop up box which details the reason for the rejection See the errors section for further detail Any submitted offer rejected or valid may be edited in the top section of the screen as follows 6 Overtype the offer amount and or spread A A change to the offer will result in the revised amount spread being displayed in italics and the submit icon will appear on the right hand side of the screen B The status will go blank until the offer 1s resubmitted 7 The change can be resubmitted by either clicking on the submit icon
83. to decide which role is required for each user and then make the change s necessary Please note that it is the responsibility of the firm to ensure that access rights to Btender are assigned appropriately within their organisations The Bank does not accept any liability for the firm s failure to do so Further detail on assigning the roles is provided in annex 1 Btender authenticates users by a second level swift ID only A firm can log in with as many users as are created and all those users will automatically be authorised to use the system in viewer or dealer roles depending on access rights Each dealer level user can add edit or cancel bids and any user within the firm organisation can edit or cancel bids by any other user However two users cannot edit a bid at the same time If user A edits bid X and user B edits it shortly after then the user B will get a bid submit error because the data B was editing would no longer be valid The users will see each other s bids but the list will not update until the screen is refreshed by either submitting a bid 3 Btender clock PC synchronisation The Btender bidding screen has a countdown timer in the top right corner This provides a guide to the amount of time remaining to submit bids in the current operation The Btender application server clock operates on London time and is synchronised with SWIFTNet The countdown timer displayed on the bidding screen is calculated from the
84. up box which details the reason for the rejection See the errors section for further detail The system will automatically calculate the total proceeds for the offer based on the nominal amount and clean price submitted the formula is shown in annex 2 The price associated with the price entered is also calculated in line with DMO guidelines and displayed on screen The price is a read only field and cannot be changed by the user Any submitted offer rejected or valid may be edited in the top section of the screen as follows 3 Refer to http www dmo gov uk documentview aspx docname giltsmarket formulae yldeqns pdf amp page Gilts Formulae page 5 1 Overtype the offer amount and or clean price A A change to the offer will result in the revised amount price being displayed in italics and the submit icon will appear on the right hand side of the screen B The status will go blank until the offer is resubmitted 2 The change can be resubmitted by either clicking on the submit icon to the right of the offer B OR by pressing the resubmit all button C If a user leaves the screen or allows the operation to end without resubmitting then the changes will be lost and the original offer will stand 3 Alternatively one or more offer price fields can be changed by using the spinner To use the spinner on a single offer click the up or down arrows a next to the price field D each click will move the offe
85. will be automatically rejected Static L faults Configuration Gilt Reject Price Below Reject Price Above B UKT_3 75_070921 UKT_8_070621 UKT_5_070325 UKT_6_071228 UKT_4 5_070934 Adding offers screen print below 2 Once an operation has started the offering screen can be selected by clicking the operation link in the timetable Multiple offers for each gilt may be submitted To offer for a particular gilt select that gilt from the drop down box at the bottom of the screen A Asa default the system will display entry boxes for four offers boxes can be left blank It is possible to submit offers for more than one gilt at a time To do this select the gilts required from the drop down list and enter offers as required in the boxes provided Enter the amount in nominal mn B and clean price C for each offer The minimum offer amount and increment are shown in the operation details There are two ways to submits offers to the Bank once offer input is completed a To submit offers for an individual gilt click on the submit icon D displayed to the right of the row Only the offers in that row will be submitted Offers for other gilts will remain in the add offers section b To submit all offers in the user should press the submit all button E NOTE the submit all button submits offers for all gilts lx E Microsoft Internet Explorer provided by IE6 3 3 IE Policy Applied E iol File Edi
86. xes provided B The spread is to Bank Rate Bids with values equal to the plausibility range values will be accepted as valid 11 The number of decimal places allowed is equal to the number of decimal places allowed for the bid rate set out in the Operational Documentation 12 If an invalid value is entered in the box for example text or a value with too many decimal places the field will be highlighted in red and an error message will be provided The error must be corrected before the plausibility rates can be saved 13 Press the save changes button C 14 The rates can be changed at any time by overtyping the saved values and pressing save changes nterpartyPlausiL P ex 2 Btender x m A gt xt 2 http btend webtst Test9 Cou x Convert F Select Bid Plausibility Ranges ABOBLO 147603 Counterparty Viewer CounterpartyDealer 3 Logout BANK OF ENGLAND ILTR 1382 14 01 2014 11 30 Time to go 25 17 e Btender _ Plausibility Ranges Operation Timetable Welcome to the above operation due to take place on 14 01 2014 Last Operation Yo your plausibility ranges bef d qth ti All val are optional If a limit is left blank no checking against that limit will take place You may enter only one of a u can enter ore or durin e operation All values pair upper or lower if you wish and only that side of the check will be applied Bids Offers Values may be changed once

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