Applying Exclusions

Applying Exclusions

Exclusions allow you to set specific Accounts, Securities, or Security Types to be exempt from fees during a billing period.

Note: Non-managed accounts and positions are automatically excluded from billing and need not be added here. Any overlap in the exclusion rules will only be applied once.

Timing, Start Date, and End Date

Exclusions can only be applied for an entire billing period. If an exclusion starts or stops partway through a period, it is not applied when billing is calculated at the end of the period. An exclusion’s Start Date must be on or before the period start. The End Date, if applicable, must be after the period has ended.

For example, to exclude an account for a single billing quarter, you would set the start date to the first day of the quarter (ex 4/1/2030), and the end date to the day after the end of the quarter (7/1/2030).

Account Exclusions

  1. Navigate to Run Business > Billing.
  2. Click Apply Exclusion from the top controls.
  3. Set Exclusion Type to Account.
  4. Set the Start Date for the exclusion, and, if needed, the End Date.
  5. Search for and select the Account to exclude. Only one Account may be selected per Exclusion.
  6. Click Save.

Security and Security Type Exclusions

  1. Navigate to Run Business > Billing.
  2. Click Apply Exclusion from the top controls.
  3. Set Exclusion Type to Security or Security Type.
  4. Search for and select the Exclusion from the drop-down list.
    5. Note: The Type of a security is defined based on Finmason and Custodian Security master data.
  5. Set the Start Date for the exclusion, and, if needed, the End Date.
  6. Select which Accounts to target with this exclusion:
    • To apply to all accounts with the selected Security or Security Type:
      1. Set Apply Exclusion To to All Accounts.
      2. Set Create Exclusion Override? to No.
    • To apply to all accounts with the selected Security or Security Type except manually selected account(s):
      1. Set Apply Exclusion To to All Accounts.
      2. Set Create Exclusion Override? to Yes.
      3. Search for and select the Accounts that should not receive this Exclusion.
    • To apply the exclusion only to selected Accounts that have the selected Security or Security Type:
      1. Set Apply Exclusion To to Select Accounts.
      2. Search for and select the Accounts that the Exclusion should apply to.
  7. Click Save.