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eGAINS

eGAINS is the give-up invoicing system licensed by FIA Tech on behalf of participating futures exchange clearing members to facilitate the calculation, invoicing, and payment of firm give-up fees. eGAINS receives give-up data from futures exchange clearing systems and provides previous month and current month-to-date views of clearing firms’ give-up payables and receivables. To facilitate the calculation of give-up fees, eGAINS continuously retrieves give-up agreements from EGUS, which is an industry-wide electronic give-up agreement administration system. 

On a nightly basis, eGAINS receives exchange give-up interface files from participating exchanges for all eGAINS participants. Exchanges also transmit files containing current product codes and exchange-firm codes (for eGAINS reference tables). The eGAINS files are prepared by each exchange as a part of their daily clearing cycles. eGAINS reads each give-up transaction as a matched pair; one transaction in eGAINS represents a transaction that was “given-up” by an executing firm and “taken-up” by a clearing firm. eGAINS matches give-up trades to give-up agreements using the executing and carrying exchange firm codes, and executing and carrying account numbers. After a give-up is matched to an agreement, eGAINS finds the appropriate give-up fee for that transaction, using detailed criteria such as futures/options, spread codes and product codes. 

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