Unit of competency Outline
Date retreived
22/07/2026 5:03 AM AWST
22/07/2026 5:03 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Apply knowledge of transaction documentation and processing
Apply knowledge of transaction documentation and processing
Unit of competency
National Code
FNSFMK509A
FNSFMK509A
State Code
D4131
D4131
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081105 - Investment And Securities
Original Release Date
29/07/2014
Nominal Hours
55
Description
This unit describes the performance outcomes, skills and knowledge required to process transactions and complete appropriate documentation.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Complete pre deal documentation and authorisations
- 1.1. Master agreements are confirmed and in place
- 1.2. Required Know Your Customer (KYC) and Anti-Money Laundering (AML) checks are completed for the client
- 1.3. Client representative is confirmed as authorised to deal on behalf of their organisation
- 1.4. Client authorisation to trade in the specified financial product is confirmed
- 1.5. The process for approving a client to deal in a new product is outlined to the client
2. Execute a transaction for a client
- 2.1. That the transaction is within the client's authorised trading limits is checked and verified
- 2.2. Details of the trade are confirmed and the client's acknowledgement obtained after receiving the order
- 2.3. Accurate details of the transaction are captured in the organisation's systems, including risk management requirements in the required timeframe
3. Complete processes for confirming and settling a transaction
- 3.1. Organisational confirmation documentation is produced and forwarded to client for approval and authorisation
- 3.2. Authorised confirmation documentation is received by organisation
- 3.3. Appropriate technology is utilised in transaction and confirmation processing
- 3.4. Confirmation documentation is forwarded to client outlining settlement exchange details
- 3.5. Financial transaction is completed according to confirmed settlement procedures and organisational and industry requirements
- 3.6. Exceptions and fails are investigated promptly
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Master Agreements may be based on:
International Swaps and Derivatives Association (ISDA) agreements
may include:
a Credit Support Annex (CSA).
Clients may include:
companies and organisations
members of the public
shareholders.
Details of the trade may include:
considerations
counterparty
face value
maturity date
price
start date
trade date.
Accurate details of the transaction must be compliant with:
Australian Securities Exchange (ASX) market rules
Australian Clearing House (ACH) clearing rules
Australian Settlement and Transfer Corporation (ASTC) settlement rules
(collectively referred to as the ASX Rules).
Settlement exchange details may include:
counterparty detailer
deal number
exchange amounts and currencies
exchange rates
floating rate
how settlement is taking place
transaction date
value date.
Exceptions and fails may involve implementing:
Business Continuity Planning (DCP)
Disaster Recovery Procedures (DRPs).
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Master Agreements may be based on:
International Swaps and Derivatives Association (ISDA) agreements
may include:
a Credit Support Annex (CSA).
Clients may include:
companies and organisations
members of the public
shareholders.
Details of the trade may include:
considerations
counterparty
face value
maturity date
price
start date
trade date.
Accurate details of the transaction must be compliant with:
Australian Securities Exchange (ASX) market rules
Australian Clearing House (ACH) clearing rules
Australian Settlement and Transfer Corporation (ASTC) settlement rules
(collectively referred to as the ASX Rules).
Settlement exchange details may include:
counterparty detailer
deal number
exchange amounts and currencies
exchange rates
floating rate
how settlement is taking place
transaction date
value date.
Exceptions and fails may involve implementing:
Business Continuity Planning (DCP)
Disaster Recovery Procedures (DRPs).
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
effectively apply knowledge of financial product transaction requirements
identify and manage financial risk
deal effectively with clients and accurately interpret their trading requirements in a timely manner.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to Australian Standard 4360 Risk Management.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
effectively apply knowledge of financial product transaction requirements
identify and manage financial risk
deal effectively with clients and accurately interpret their trading requirements in a timely manner.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to Australian Standard 4360 Risk Management.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR27 | FNSFMK509 | Process transaction documentation | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D722 | FNS51011 | Diploma of Financial Markets | Qualification |
| D725 | FNS51811 | Diploma of Financial Services | Qualification |