Who is eligible to be an eGAINS participant?
Do I have to be an FIA member to participate?
How many participant IDs will eGAINS allow?
What are the costs to participate in eGAINS?
What are the eGAINS systems or software requirements?
What paperwork or approval requirements / documents are needed to become an eGAINS participant?
How much time, after filing the eGAINS Processing Agreement, should be allowed for participant approval?
If my customer chooses to pay execution fees through eGAINS to the executing broker, must he complete an eGAINS Processing Agreement with FIA Tech?
What are the different types of rates I can charge?
How will rates I enter in EGUS appear in eGAINS?
I have EGUS electronic and legacy (pdf) agreements along with electronic and pdf rate schedules, will EGUS communicate with eGAINS or do I need to reenter my agreement and rate information into eGAINS?
What happens if I change an agreement or rate - can I enter rates direct into eGAINS?
How often are EGUS agreements and schedules loaded into eGAINS?
How will I be able to track my EGUS agreement in eGAINS?
Will I be able to identify which rates originated from EGUS agreements vs. which originated from non-EGUS agreements?
What happens if I add or change an agreement in eGAINS that already exists in EGUS?

To view additional Frequently Asked Questions, please click on the applicable link below:

FAQ eGAINS Overview

FAQ eGAINS Trade Processing

FAQ eGAINS Banking

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» Who is eligible to be an eGAINS participant?

All executing and clearing brokers are eligible to participate in eGAINS.

» Do I have to be an FIA member to participate?

No. eGAINS is open to all parties to give-up agreements regardless of FIA membership.

» How many participant IDs will eGAINS allow?

eGAINS participant IDs must link to the clearing member firm identifier noted on the trade record. In other words, if your firm has three separate exchange clearing relationships you may have a maximum of three eGAINS participant IDs.

» What are the costs to participate in eGAINS?

There are no costs to participate in eGAINS. The expense of operating the system is covered by interest paid on the money held in the system between the time the carrying broker’s account is debited and the executing broker’s account is credited. We call this the float payment system. At launch, the float period is 60 business days. The float period will decrease as more participants join the system.

» What are the eGAINS systems or software requirements?

Based on the current eGAINS release, access to Internet Explorer is the only requirement.

» What paperwork or approval requirements / documents are needed to become an eGAINS participant?

Each firm must sign and return to FIA Tech an eGAINS Processing Agreement. Each user will be subject to a click-through agreement upon entering the system.

» How much time, after filing the eGAINS Processing Agreement, should be allowed for participant approval?

FIA Tech will need 7-10 days to set-up your eGAINS account and verify your banking information.

» If my customer chooses to pay execution fees through eGAINS to the executing broker, must he complete an eGAINS Processing Agreement with FIA Tech?

Yes. Customers of clearing firms wishing to automate payments through eGAINS (to the executing broker) must be an eGAINS participant and file the eGAINS Processing Agreement with FIA Tech. Further the customer must provide their bank account information in order for FIA Tech to process the automated payment.

» What are the different types of rates I can charge?

There are no restrictions on the rate other than, at eGAINS launch, the settlement currency must be denominated in EUR, GBP, USD or other currencies requested by participating firms.

» How will rates I enter in EGUS appear in eGAINS?

On a nightly basis, eGAINS retrieves all agreement and rate information from EGUS and maps the information to the corresponding fields.

» I have EGUS electronic and legacy (pdf) agreements along with electronic and pdf rate schedules, will EGUS communicate with eGAINS or do I need to reenter my agreement and rate information into eGAINS?

With respect to EGUS electronic agreements and rate schedules, eGAINS will fetch the data from EGUS without user intervention (however, each party must permission eGAINS to fetch the data on one’s behalf – EGUS system administrator must Enable Rate Data Feed via the Maintain Party Permissions page). All users are asked to confirm the accuracy of the data conversion by June 01. PDF rate schedules will NOT transfer to eGAINS.

» What happens if I change an agreement or rate - can I enter rates direct into eGAINS?

Yes, changes may be made in eGAINS; however the recommended approach is to make changes in EGUS and avoid changing agreement and rate information in eGAINS. Since the daily download from EGUS to eGAINS overwrites the previous eGAINS file, changes made in eGAINS will be deleted with subsequent EGUS downloads. Therefore, to avoid losing the eGAINS changes always use EGUS for modifying agreement details.

» How often are EGUS agreements and schedules loaded into eGAINS?

Daily.

» How will I be able to track my EGUS agreement in eGAINS?

The EGUS agreement number appears on eGAINS and is viewable through the system.

» Will I be able to identify which rates originated from EGUS agreements vs. which originated from non-EGUS agreements?

Yes. There will be an indicator in the Rate Offload File for firms to identify EGUS rates from non-EGUS rates. Specifications shall be published and distributed in April.

» What happens if I add or change an agreement in eGAINS that already exists in EGUS?

When the next EGUS agreement extract runs, the agreements/rates will be replaced with the corresponding EGUS agreement. The rate changes, added direct to eGAINS, will be lost.