Why is settlement amount negative for my 'Transfer In' Transactions?

'Transfer In' denotes the opening entry of a purchased position, hence the settlement amount is negative.

Why is settlement amount missing for my transaction?

For 'Transfer In/ Out' transactions, system automatically populates settlement amount as Price x Quantity.

When no price or quantity is reflected on the statement, settlement amount is 0.

Why is the trade date in Canopy different from my statements?

For a new portfolio, the opening entry of trades is the last business day of the statement provided. All transactions within that month will be booked as of last business day.

For an existing portfolio, if there are differing trade dates in position details and cash transaction details, cash transaction details take precedence.

Can I view transactions by settlement date?

Yes. For all transactions, the default view is by trade date. However, settlement date can be selected with the column selector.

Where can I look at the description of my transactions?

Description can be viewed under Narration using the column selector. All descriptions are recorded as per statement.

How does Canopy classify assets?

For private securities, Canopy utilizes the information provided by the Custodian.

For listed securities, please refer to the detailed Classification Hierarchy.

The default classifications can be changed on the Classifications Page (User icon → Classifications)

Why are cash and deposit two separate asset classes?

Deposit refers to cash placed in a fixed deposit or foreign currency deposit. Therefore, cash and deposit refer to different items.

What kind of details are available on Canopy for derivatives?

All details available on the statement will be reflected on Canopy. Prices are available up to 2 decimal places.

Value of Structured Product is different from statement

If accrued interest and market value are shown as 2 different items on statement, Canopy's value is a summation of the two.

Why is there no interest accrued for deposits and loans?

Only the principal amounts of non-mtm contracts are taken and we do not book accrued interest for deposit and loans. Accrued interest for deposit and loansis designed to reflect only actual cash transactions hence interest will only be recorded when realized in the account.

How do I see accrued interest for bond?

Accrued interest for bond is dirty price - clean price and captured in the market value.

Why is there negative accrued interest for bond?

This is to reflect the change in accrued interest for your bond holding during the selected period.

Assuming you have selected 1/12/2018 as start date of period and 14/12/2018 as end date of period
Last coupon date is 06/06/2018 and next coupon date is 06/12/2018
Accrued interest of bond on start date is 178 days
Accrued interest of bond on end date is 8 days
Hence the negative amount (8 days – 178 days)

How long does it take for data to be processed?

Electronic PDF statements - 3 to 5 working days

Datafeed from banks - 1 working day

Does Canopy capture brokerage/transaction fees?

In Canopy,

Trade Price = transaction valuation (without fees)

Settlement Amount = cost valuation (net of fees)

Average Cost = average transaction valuation (without fees)

In the event where Trade Price is not provided in the statement, Canopy uses Settlement Amount / Quantity to derive the Trade Price.

What are some known differences in reporting between Canopy and other banks?

HSBC - Performance Calculation

Performance reported on HSBC statement is based on assets only (excluding liabilities). Performance reported in Canopy is calculated based on net worth (including liabilities).

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