CTM TRADE BLOTTER REFERENCE: BROKER/DEALERS

Transcription

1 CTM TRADE BLOTTER REFERENCE: BROKER/DEALERS JUNE 04, 2018

2 Copyright 2018 The Depository Trust & Clearing Corporation ("DTCC"). All rights reserved. This work (including, without limitation, all text, images, logos, compilation and design) is proprietary and protected by copyright, and is for the exclusive use of users authorized by DTCC. If this work is received from DTCC in any electronic medium, authorized users of this work are granted a limited, non-exclusive, non-transferable, nonsublicensable and freely revocable license to make reproductions and transmissions necessary for downloading and storage of this work on the users' computers and to print one or more paper copies from the electronic version for their own use. Other than to this limited extent, no part of this work (including any paper copies thereof or print versions thereof) may be printed, copied, altered, modified, posted, reproduced, displayed, published, sold, licensed, used or distributed (including by transmission) in any form or by any means, or stored in any information storage and retrieval system, without DTCC's prior written permission. DTCC is the brand name under which certain affiliates of The Depository Trust & Clearing Corporation provide services in particular geographic areas. The Depository Trust & Clearing Corporation does not provide services to clients. Each of The Depository Trust & Clearing Corporation s affiliates is a legally separate and independent entity, and each is subject to the laws and regulations of the particular country in which it operates. Please see for more information on the legal structure of The Depository Trust & Clearing Corporation and its related entities. All product or service names are the property of their respective owners. Publication Date: June 04, 2018 Publication Code: CT715 Service: CTM Title: Trade Blotter Reference: Broker/Dealers

3 CONTENTS Contents 3 Preface 5 Audience 5 Changes in This Version 5 Conventions 5 Related Documents and Training 5 Questions? 6 1. The Trade Blotter 7 Introduction 7 Terms 7 Layout 8 Toolbar 9 Loading Status 9 Pointer Tips and Information 9 Data Refresh 10 Changing the Organization 10 Optimize Performance 10 Increase Virtual Memory Settings 11 blotter.properties File 11 Java Control Panel 12 Clear Your Java Cache 13 Optimize Internet Explorer 13 Add Login Page to Browser Compatibility View 13 Add omgeo.net to Managed Sites 13 Types of Views 14 Shared Organization Views 15 Block-Level Workflow Trade Views 15 My Trades, Today s Trades, and Yesterday s Trades 15 Outstanding Blocks View 16 Outstanding Confirmations View 16 Instructing Party Alleged View 17 Allocation-Confirmation Workflow (ACWF) Trade Views 17 My ACWF Confirms View 17 Alleged ACWF Allocs View 18 Notification Views 18 Managing Views 19 Add a View 19 Edit the Current View 20 Copy the Current View 21 Remove the Current View 21 Save a View Setting 21 Save the Current View 21 Save all Views 21 Working with Columns 21 Add a Column 22 Remove, Move, and Resize a Column 22 Sorting and Filtering Trades 22 Sort Trades 23

4 Filter Trades 23 Filter Types 24 String Data Type (Example: Master Ref) 24 Number Data Type (Example: Qty) 24 Date Data Type (Example: Settle Date) 24 Selection List Data Type (Example: Trade Curr) 25 Filter from the Settings Area 25 Filter From a Column Header 26 Add a Filter 26 Change a Filter 27 Remove a Filter 27 Exporting and Printing Trades 28 Export Trades to Excel and PDF 28 Print Trades Creating Trades 30 Introduction 30 Before You Create a Trade 30 Review Trade Blotter Content and Credentials 30 Trade Components You Can Create and Copy 30 Manage Manual Entry Defaults 31 Manual Entry Defaults 31 Favorite Counterparties 32 Quick Trade Entry 33 Full Trade Entry 37 Creating Blocks 39 Create a Block Only 39 Create a Block and Confirmation 39 Create a Block with Automatic Confirmation Creation 39 Quick Trade Entry 39 Full Trade Entry 40 Copying Blocks 40 Creating Confirmations 41 Create Confirmations From Your own Block-Level Trades 41 Create Confirmations From Your Counterparty s Allocations 41 Create Confirmations Without an Associated Block (ACWF) Managing Trades 45 Introduction 45 Finding Trades 45 Find Trades by Trade Type and Reference 45 Find Trades from Within a Column 45 Interpret Trade Status Icons 46 Amending Trade Components 47 Pairing and Matching Trades 48 Track Match Status for Blocks and Confirmations 48 Compare Pairing and Matching Fields for a Trade 48 Rejecting and Canceling Trades 48 Reject a Trade 48 Reject a Trade Cancellation Request 49 Cancel a Trade 50 Viewing and Closing a Trade Component Error 51

5 PREFACE This document provides information about how to use CTM browser-based trade blotter for the following asset classes: Debt (DBT) Equity (EQT) Futures (FUT) Options (OPT) For information about how to use the trade blotter for the repos (RPO) asset class, contact your DTCC representative. Using the trade blotter requires detailed configuration. Work with your DTCC representative to align the trade blotter with your business requirements. Audience This document is for broker/dealers who use the trade blotter to: Create and copy blocks Create confirmations View alleged allocations Assess and handle block and confirmation exceptions Print and export trades, confirmations, and legal contracts for MAGR (Match Agreed) and CMAG (Cancel Match Agreed) trades to the following targets: o o Microsoft Office Excel Adobe PDF file Changes in This Version This version contains rebranding changes. Conventions The trade blotter uses standard Windows user interface conventions such as: Multiple selection using Ctrl and Shift. Data Refresh by pressing Ctrl + R. Red asterisks next to mandatory fields. Related Documents and Training For related documents and training in the DTCC Learning Center, go to Institutional Trade Processing CTM. Preface 5

6 Questions? The DTCC Client Center provides general assistance and technical help. Visit to: Enter a service request or check the status of an existing service request Search the knowledge base Obtain contact information Preface 6

7 1. THE TRADE BLOTTER Introduction This chapter provides basic information about the trade blotter, including how to customize your views of trades and how to print and export trades. Terms The trade blotter enables you to submit trade information, process notifications, and view trade information. Table 1.1 provides some terms used in this document. Table 1.1 Terms Term allocation block Note Also known as TradeDetails, allocations constitute the systematic distribution of a limited quantity of resources over various time periods, products, operations, or investments. Instructing parties (typically investment managers) create and work with allocations, while broker/dealers work with confirmations and contracts. Also known as TradeLevels, blocks constitute a large purchase or sale of a security or transaction. This manual also uses the term as follows: clearing broker confirmation Block view Refers to any view that contains only blocks Block and confirmation view Refers to any view that contains blocks and confirmations. Clearing brokers are typically members of a clearing house that act on behalf of an investment manager and clearing house. Also known as a TradeDetails, executing brokers create and work with confirmations (also referred to as contracts), while investment managers work with allocations. executing broker (EB) Also known as a broker/dealer or sell side of a trade. Executing brokers create and work with blocks and confirmations/contracts. The executing broker finalizes and processes an order on behalf of an investment manager. instructing party (IP) level 1 pairing (L1 pairing) level 2 matching (L2 matching) notification views prime broker (PB) settlement notification views trade components TradeDetail TradeLevel trade views Also known as an investment manager, hedge fund manager, or the buy side of a trade. Instructing parties create and work with blocks and allocations. The act of identifying and linking a trade side to a counterparty s submitted trade side. L1 pairing uses criteria set by DTCC and must be complete before any Level 2 (L2) matching begins. The act of comparing client-specified fields and tolerances to a counterparty s corresponding fields. The outcome of L2 matching determines the Match status of a trade component or trade side. The CTM service provides various notification services. All notification views have the word Notification in the view name. This party provides specialized services for the buy-side in a CCP trade. Prime brokers can view and process CCP notifications that settle at a CCP. See the Notification Services Reference. Settlement views contain information about settlement instructions, such as settlement date, destination delivery status, and other data. See the Trade Blotter: Settlement Notification. Refers to blocks and allocations or confirmations/contracts. XML message that represents a confirmation or contract in the trade blotter. XML message that represents a block in the trade blotter. Contain information about blocks and allocations or confirmations/contracts. This reference focuses on trade views. The Trade Blotter 7

8 Layout Figure 1.1 shows an example of the trade blotter with 3 out of 75 blocks in the selected Outstanding Blocks view. Figure 1.1 Trade Blotter Layout Categories Table 1.2 describes each trade blotter area called out in Figure 1.1 and the location in this manual to find more information. Only the menu items your organization has set up are visible. Table 1.2 Trade Blotter Categories Category Description Link Main Menu Use the main menu to: Find a trade Export and print trades Change organization Manage trade views Work with columns Refresh trade data Create trades using the Quick Trade Entry or Full Trade Entry option Manage manual entry default fields and manage favorite counterparties Process exceptions (amend and reject trades) Finding Trades Exporting and Printing Trades Changing the Organization Managing Views Working with Columns Data Refresh Toolbar Shortcuts to access commonly used features. Toolbar Loading Status Find a Trade Indicates whether your data is loading, fully loaded, or unable to load. Finds a trade component for your trade side or counterparty s side using multiple identifiers. Quick Trade Entry Manage Manual Entry Defaults Amending Trade Components Loading Status Finding Trades The Trade Blotter 8

9 Table 1.2 Trade Blotter Categories (continued) Category Description Link Views Filters Displays two sets of information: Trades blocks and confirmations. Notifications notification information and notification delivery status. Improves performance by narrowing the information the CTM service displays in the trade blotter. Types of Views Filter Trades Toolbar Table 1.3 describes each toolbar shortcut called out in Figure 1.1 on the previous page, and where to find more information in this manual. Table 1.3 Toolbar Shortcuts Icon Description Link Icon Description Link Save Current View Save the Current View Find a Trade Finding Trades Print Print Trades Expand All N/A Export to Excel Exporting a Confirmations-Only View Collapse All N/A Export to PDF Exporting a Confirmations-Only View Refresh Data Data Refresh Loading Status The following icons indicate the status of data loading into the active view: A green asterisk indicates that view data is still loading. Initial data load takes up to 5 minutes. A red asterisk indicates that view data is still loading. Initial data load takes up to 5 minutes. Some reasons are: o o More than 20,000 records are in the view narrow your date range. Your system is out of memory close any open programs or contact your system administrator. To ensure that you are viewing current data, DTCC recommends regularly clearing your java cache and deleting your browser history and cookies. See Clear Your Java Cache. Pointer Tips and Information Move the pointer to a status indicator to obtain information about column content, such as the status of a block, confirmation, or notification. Note The terms field and column refer to the same concept. Fields in dialog boxes appear as columns in trade blotter views. Figure 1.2 shows an example of a pointer tip for the COMP 2 Complete status for a block with two confirmations. The Trade Blotter 9

10 Figure 1.2 Pointer Tips and Information Data Refresh The CTM service refreshes all views in the trade blotter every 15 minutes. DTCC recommends that you restart the trade blotter each day. If you do not exit, the trade blotter automatically closes the first time you use it after midnight each day. To refresh data manually before the next automatic refresh, do one of the following: Click Refresh Data on the toolbar. Select View, then Refresh Data. Press Ctrl + R. Changing the Organization If you have access to more than one organization, you can change the organization in the trade blotter. You can change an organization only after all of the views for the current organization load. 1. Select File, then Change Organization. The Change Organization dialog box appears (Figure 1.3). Figure 1.3 Change Organization 2. Select the organization you require from the Select On Behalf Of organization drop-down list box and then click OK. The trade blotter loads the views for the selected organization. Optimize Performance Each time you log in to the trade blotter, your PC queries the CTM service for data, which can affect performance. DTCC recommends that you stay logged on during the day and only log off at the end of each business day. The Trade Blotter 10

11 Increase Virtual Memory Settings By default, the trade blotter uses a maximum of 600 megabytes of virtual memory, which in most cases is sufficient. Under the following conditions, the CTM service reports an out of memory condition: The number of trades displayed in the trade blotter is high Multiple views contain excessive data When either of these conditions occur, the CTM service generally displays a red asterisk for each view label that is still loading. If this situation occurs, you can either remove existing views or increase the size of the virtual memory available to the trade blotter. If you choose to increase the virtual memory, do so on the PC of each trade blotter user. Note The examples in this section use 800 MB as a higher memory setting. Increment your settings by 200 MB until your trade blotter runs efficiently. You can change the virtual memory available to the CTM service using either of the two techniques described in this section. If you use both, the system defaults to the blotter.properties setting. Table 1.4describes the two methods to adjust virtual memory. Table 1.4 Virtual Memory Adjustment Methods Method blotter.properties File Java Control Panel Description If you specify a maximum blotter memory setting of less than 600 MB using the blotter.properties file, trade blotter uses the specified value. If you specify a maximum blotter memory setting of less than 600 MB using the Java Control Panel, the trade blotter uses 600 MB. To implement either method for increasing the virtual memory settings, ensure that you clear the Java cache before reloading the trade blotter. See Clear Your Java Cache. blotter.properties File To increase (or decrease) the virtual memory available to the trade blotter using the blotter.properties file: 1. In a text editor, open the blotter.properties file, typically located here: C:\Documents and Settings\your_name\OmgeoCTM\blotter.properties The Trade Blotter 11

12 2. Add an entry for MaxBlotterMemory at the end of the blotter.properties file, shown in Figure 1.4. Figure 1.4 Updated blotter.properties File 3. Save and then close the file. Java Control Panel To increase (or decrease) the virtual memory available to the trade blotter using the Java Control Panel, do the following: 1. Go to Start, then Control Panel. 2. Double-click Java. The Java Control Panel appears. 3. In the Java tab, click View. The Java Runtime Environment Settings appears with the User tab open. 4. Double-click in the Java Runtime Parameters column cell for the JRE row for the version of Java the CTM service is using. 5. Type -DMaxBlotterMemory=new_setting in the Runtime Parameters shown in Figure 1.5. Figure 1.5 JRE Runtime Settings 6. Click OK, and then click OK again to save the settings and close the Java Control Panel. The Trade Blotter 12

13 Clear Your Java Cache To ensure that you are viewing accurate data, DTCC recommends regularly clearing the cache in your Java Control Panel. To clear the Java cache: 1. Go to Start, then Control Panel, and then Java. 2. In the General tab of the Java Control Panel, click View in the Temporary Internet Files section. The Java Cache Viewer appears (Figure 1.6). Figure 1.6 Java Cache 3. Press Ctrl + A to select all Java resources. 4. Click to clear the Java resources from the cache. When the cache is empty, click Close, and then close the Java Control Panel. Optimize Internet Explorer Configuring Internet Explorer settings can improve overall performance of the CTM service. Add Login Page to Browser Compatibility View To add DTCC sites to the Compatibility View: 1. Navigate to your CTM login screen. 2. Select Tools on the Command Bar, then Compatibility View Settings. The Compatibility View Settings dialog box appears. 3. Click Add. 4. Repeat steps 1-3 for all CTM login screens. Add omgeo.net to Managed Sites To add omgeo.net as a site to apply cookies: 1. Select Tools, then Internet Options. 2. Click the Privacy tab. 3. In the Settings section, click Sites. The Trade Blotter 13

14 The Per Site Privacy Actions dialog box appears (Figure 1.7). Figure 1.7 Per Site Privacy 4. Type omgeo.net in the Address of website: box. 5. Click Allow. 6. Click OK and then OK again to close the Internet Options window. Types of Views The trade blotter provides default views of your and your counterparty s data based on your organizational setup in the CTM service. Factors that determine your views include: Subscriptions, options, and roles Workflow types Event and matching profiles Asset classes Status of alleged trade component information There are two categories of views that contain the following types of data: Trade Views o o Block-level workflow trade views Allocation-confirmation workflow (ACWF) trade views Additional notification views Double-click a trade component in any view to see the trade component data or process it, if applicable. The Trade Blotter 14

15 Shared Organization Views Each local CTM installation includes the TradeFilter.xml file, which you can use to share your views across regional or branch offices. To share your organization views: 1. Navigate to the local CTM installation directory and select the TradeFilterBroker.xml file you want to emulate on other machines. Figure 1.8 shows an example of the default CTM installation location. Figure 1.8 Default TradeFilterBroker.xml File Locations 2. Send a copy of the TradeFilterBroker.xml file to the recipients who require the same views. 3. On the recipient s machine, ensure that the trade blotter is not running and navigate to the CTM installation directory. 4. For backup purposes, make a copy or change the name of the original TradeFilterBroker.xml file on the recipient machine and save it. 5. Paste the copy of the TradeFilterBroker.xml file from the originator s machine into the corresponding CTM installation directory on the recipient machine. 6. Clear your Java cache, browser cookies, and history, then start the trade blotter. Block-Level Workflow Trade Views A block-level trade views show block and confirmation trade information. My Trades, Today s Trades, and Yesterday s Trades Figure 1.9 shows an equity trade in the My Trades view. The status of the block is MACH (Matched). Expanding the block shows the trade s confirmations are NMAT (Not Matched). Figure 1.9 My Trades, Today s Trades, and Yesterday s Trades Views The Trade Blotter 15

16 shows a My Trades view of two Exchange Traded Derivative (ETD) trades. One is a futures trade and one is an options trade. The options trade has two confirmations. Both trades follow the ETDE (executing) workflow. Expanding the options block shows that both confirmations are give-ups to a clearing broker. Figure 1.10 My Trades view of Two Executing Flow (ETDE) ETDs Outstanding Blocks View Figure 1.11 shows the blocks you submitted, which require attention. Figure 1.11 Outstanding Blocks A block trade remains in the Outstanding Blocks view until both sides of the Block Status are MACH (Matched), regardless of overall trade status. Once the block matches (no longer NMAT or MISM), the trade blotter does not display the block in the Outstanding Blocks view. Outstanding Confirmations View Figure 1.12 shows the Outstanding Confirmations view, which shows confirmations that you submitted that require your attention. Figure 1.12 Outstanding Confirmations (DBT/EQT) The Trade Blotter 16

17 Figure 1.13 shows an Outstanding Confirmations view of three ETD trades. All of the trades follow the ETDC (clearing) workflow. Two are futures trades and one is an options trade. The view shows confirmations that you submitted, which require your attention because they are either MISM (Mismatched) or NMAT (Unmatched). Figure 1.13 Outstanding Confirmations (ETDs) Instructing Party Alleged View The Instructing Party Alleged view shows blocks and associated confirmations that your counterparties alleged. In Figure 1.14, one trade is INCP (Not Complete) because it has outstanding allocations. Figure 1.14 Instructing Party Alleged View Allocation-Confirmation Workflow (ACWF) Trade Views For ACWF subscribers, neither party submits a block. A confirmation constitutes the entire trade side and contains all of the information required for matching. ACWF subscribers can submit confirmations without waiting for your counterparty s allocations. Because individual ACWF confirmations represent a trade side,the CTM service handles trade identifiers as follows: Client-defined identifiers (optional): The CTM service requires that you supply the same value in Master Reference and Client Confirmation Reference. CTM identifiers: CTM Trade Side ID has the same value as CTM Trade Detail ID. My ACWF Confirms View Figure 1.15 shows the My ACWF Confirms view, which lists the confirmations you submitted to your counterparties. The Trade Blotter 17

18 Figure 1.15 My ACWF Confirms View Alleged ACWF Allocs View Figure 1.16 shows the Alleged ACWF Allocs view, which lists the allocations any of your counterparties using the ACWF alleged against you. Figure 1.16 Alleged ACWF Allocs View Note The Alleged ACWF Allocs view is available to all clients subscribed to the CTM Allocation Confirmation Workflow (ACWF) service. If you are also a block-level subscriber, this view allows you to see trades your ACWF counterparty alleged against you. Notification Views Table 1.5summarizes the trade blotter views that provide subscription-based notification services. See the Notification Services Reference for trade blotter implementation. Table 1.5 Notification Services Notification Service Description Views CCP Notification CFI Notification Trade Notification Provides prime brokers the ability to approve, reject, cancel, and stop notifications destined for a Central Counterparty (CCP). Provides read-only trade information to instructing party designees for MAGR (Match Agreed) and CMAG (Cancel Match Agreed) trades. Provides trade information for MAGR (Match Agreed) and CMAG (Cancel Match Agreed) trades. CCP Notification My Trades Trade Notification Trade Notification Summary The Trade Blotter 18

19 Managing Views You can add, change, copy, or remove trade component views. For example, suppose that you want to add a view of debt trades that sorts on the fields in Table 1.6: Table 1.6 Customizing Views by Field Field Value Trades that are: B/S BUYI Buys Asset Class DBT Fixed income securities Settle Curr EUR EURO currency types Figure 1.17 shows such a customized view. Using this view, you can quickly identify purchases of fixed income securities settling in the Euro currency. Figure 1.17 Customizing Views When you add, change, or copy a view, the CTM service saves the changes in a configuration file. When you remove a view, the CTM service deletes all record of it from this file. If necessary, recreate the view manually. Add a View 1. Select View, then Manage Views, and then Add View. The Add View dialog box appears, showing the current columns in the view with applied filters. Figure 1.18 shows a portion of the Add View dialog box. The Trade Blotter 19

20 Figure 1.18 Add View Dialog Box 2. Type a name for the view in the View Name box. 3. Click one of the View Type options. 4. Click one of the following Date options: Trade Date or Settlement Date. 5. Specify the date or date range. See Add a Filter for information on specifying dates. 6. In the Show column of the Display Asset Classes section, select the asset classes you require. 7. Select or clear the Display Blocks check boxes to display or hide blocks. 8. Select or clear the Display Confirmations check boxes to display or hide confirmations. 9. In the Display Columns area of the dialog box, select the block and confirmation columns you want to include in the additional view. For columns that can include multiple filtering items (such as Trade Date), click Browse column corresponding to the Filter Applied column. Include all applicable filters. in the Note When you apply a filter in the Add View dialog box, the CTM service adds the filter to the list of columns under Column Name. 10. Click Refresh Preview for a preview of your view with its updated settings. 11. Click Save View at the top of the screen to save the view Edit the Current View To edit the current view: 1. Select View, then Manage Views, and then Change Current View. The Manage Views: Change Current Views dialog box appears. 2. Make your changes and then click Save View. The Trade Blotter 20

21 Copy the Current View To Copy the Current View: 1. Open the view you want to copy. 2. Select View, then Manage Views, and then Copy Current View. The Manage Views: Copy Current View dialog box, with Copy of [View Name] in the View Name box appears. 3. Type a name for the new view in the View Name box. 4. Make your changes and then click Save View. Remove the Current View To remove the current view: 1. Open the view you want to remove. 2. Select View, then Manage Views, and then Remove Current View. The Remove Current View confirmation dialog box appears. 3. Click Yes. When you remove a view, the CTM service immediately deletes all record of it from your configuration file. If necessary, recreate the view manually. Save a View Setting You can customize and save the settings for each view individually or save the settings for all trade blotter views simultaneously. For a temporary customization, exit the trade blotter application without saving any of the views you modified. Save the Current View Ensure that the view you want to save is active and then select View, then Save Current View. Each time you open the trade blotter, the CTM service displays the saved trade blotter view. Note Click Save to save a current view in a single step. Save all Views Ensure that the trade blotter view settings are satisfactory and then select View, then Save All Views. The CTM service saves all customizations done on all of the views. Each time you open any view, the trade blotter displays the settings that you saved. Working with Columns You can add, remove, rearrange, or resize columns for any trade blotter view containing trade information. Note Your organizational configuration determines which columns the CTM service includes in your initial views and which columns you can add. The Trade Blotter 21

22 Add a Column To add a column: 1. Select View, then Choose Columns. The Choose Columns dialog box appears (Figure 1.19). Figure 1.19 Adding a Column 2. Select one or more columns to add to the view and then click OK. The new columns appear at the end of the current view on the far right. 3. Click OK. Remove, Move, and Resize a Column Table 1.7 describes the procedures for removing, moving, and resizing a column. Table 1.7 Removing, Moving, and Resizing a Column To: Remove a column Move a column Resize a column Do this: One of the following: Right-click the column header you want to remove and then select Remove Column. Select View, then Choose Columns, clear the column name check box and then click OK. Select a column header and drag it to a different location. Place your cursor over the right edge of the column header and drag it to the left or right. Sorting and Filtering Trades You can sort and filter trades according to your business requirements. The Trade Blotter 22

23 Sort Trades Sort single or multiple columns in a view by ascending and descending order (Table 1.8). Table 1.8 Changing Sort Order To change the sort order of: Follow these steps: A Single Column 1. Double-click a column header to sort in ascending order. 2. Double-click the same column header a second time to sort in descending order. 3. Double-click the same column header a third time to remove the sort. Multiple Columns 1. Double-click the column header for the primary sort. 2. Press and hold Ctrl and double-click the column header for the secondary sort. 3. Repeat step 2 to add as many columns to the sort as required. The example in shows a multi-column sort as follows: The Trade Date column is the primary sort (1) in ascending order. The Security column is the secondary sort (2) in descending order. The Master Ref column is the final sort (3) in ascending order. Figure 1.20 Adding a Column To clear a multi-column sort, double-click each column header to cycle through sort order. Filter Trades Filters enable optimal data load performance and view customization. Figure 1.21 outlines an example of how to use the following example filter settings: Filter trades by=trade Date FROM 05-Aug TO Today Block Status=NMAT Asset Class=EQT Figure 1.21 Filtering Trades The Trade Blotter 23

24 Filter Types The trade blotter includes several data types, which you can filter. String Data Type (Example: Master Ref) For a string data type filter, you can enter any string contained in the column (Figure 1.22). Figure 1.22 String Data Type Filter Number Data Type (Example: Qty) Figure 1.23 shows a number data type filter dialog box. Click the first option button to enter an exact quantity. Click the second option button to enter a range of quantities. Figure 1.23 Number Data Type Filter Date Data Type (Example: Settle Date) Figure 1.24shows a date data type filter dialog box. Click the first option button to specify an exact calendar date or range of dates. Click the second option button to specify Yesterday, Today, or Tomorrow, plus (+) or minus (-) a specific number of days. The Trade Blotter 24

25 Figure 1.24 Date Data Type Filter For either option, select dates as follows: 1. Select Equals from the drop-down list box to specify an exact calendar date or select Range from the drop-down list box to specify a range of dates. By default, the current date appears in each date field. 2. Click the displayed date. A calendar appears for you to select a date. 3. Select a date from the calendar. The date field appears with the date you selected. Selection List Data Type (Example: Trade Curr) For a selection list data type, choose from a list of values (Figure 1.25). All selects all of the items in the list. None clears all of the items in the list. Show All displays all values in the trade blotter. Figure 1.25 Selection List Data Type Filter Filter from the Settings Area A filter must be in place on a trade blotter before you can change it. You can change a filter from the filter settings area where the column headers contain the filters. To change a filter from the filter settings area: 1. Click the filter you want to change in the filter settings area. Figure 1.26 shows an example of the Qty filter dialog box. The Trade Blotter 25

26 Figure 1.26 Changing a Filter 2. Make your changes and then click OK. Filter From a Column Header Filter parameters vary depending on the type of data in the column you are filtering. To filter trades by column: 1. Right-click the column header you want to filter. 2. Select Add Filter. The filter dialog box appears. 3. Make your changes and then click OK. Add a Filter To add a filter: 1. Right-click the column header of the column you want to filter. 2. Select Add Filter. 3. Click OK after you select the filter. The dialog box appears for the filter (Figure 1.27). Figure 1.27 Adding a Filter Figure 1.28 shows an example of an Outstanding Blocks view with one filter set to display only trades with a Block Status of MISM (Mismatched). The Trade Blotter 26

27 Figure 1.28 Quick Filtering by One Block Status Value Clicking the MISM filter in Figure 1.28 expands the filtering. Figure 1.29 shows trades with a Block Status of either MISM or CCRQ (Counterparty Cancel Requested). Figure 1.29 Quick Filtering by two Block Status Values Change a Filter To change a filter from a column header: 1. Right-click the column header, then select Change Filter. The filter dialog box appears. 2. Make your changes and then click OK. Remove a Filter You can remove a filter from the filter settings area or from the column header containing the filter. To remove a filter, do one of the following: Select the filter in the filter settings area and then click Remove in the filter dialog box. Right-click the column header for the filter you want to remove and then select Remove Filter. The Trade Blotter 27

28 Exporting and Printing Trades You can print and export trades to Excel or PDF file formats. When you export or print a trade view that contains block and confirmation information: DTCC outputs only the block view information when exporting to Excel. DTCC prints only block and confirmation information if you expand blocks to show both trade components before you print the view. For example, if you want to export a view of MAGR (Match Agreed) confirmations, ensure that you create a confirmation-only view. After you create the view, add any columns you require that show block information, such as Total Net Cash Amount. Export the view as shown in Figure Figure 1.30 Exporting a Confirmations-Only View Export Trades to Excel and PDF You can export trade components, including legal contracts for MAGR (Match Agreed) and CMAG (Cancel Match Agreed) trades, to Excel or PDF formats. 1. Select the view or trade components you want to export to Excel or PDF. To include multiple contiguous items, press Shift. To include multiple non-contiguous items, press Ctrl. 2. Depending on your export requirements, take one of the steps in Table 1.9. Table 1.9 Exporting Trades To Export: Trade components to Excel Trade components to PDF MAGR Confirms and legal contracts to PDF Select: File, then Export to Excel. File, then Export to PDF. Trade, then Print/Export Legal Contract Export Legal Contract (MAGR or CMAG). Depending on your chosen format, the Export to Excel or Export to PDF dialog box appears. 3. Type a value in the File name box and ensure that the directory location is correct. 4. Click Save. The Trade Blotter 28

29 Print Trades You can print trade components, including legal contracts, to a default local or network printer. 1. Select the view or trade components you want to print. To include multiple contiguous items, press and hold Shift while selecting. To include multiple non-contiguous items, press and hold Ctrl while selecting. 2. Depending on your requirements, take one of the steps in. Table 1.10 Printing Trades To Print: One trade component Multiple trade components One or more MAGR confirms One or more legal contracts Select: File, then Print. File, then Print Selected. Trade, then Print Confirm. Trade, then Print/Export Legal Contract, and then Print/Export Legal Contract (MAGR or CMAG). The Print Preview dialog box appears. 3. Click Print. The Trade Blotter 29

30 2. CREATING TRADES Introduction This chapter describes how to create and copy trade components. Before You Create a Trade Work with your DTCC representative to ensure that you have the appropriate set-up before you create a trade component or copy a block. If you automatically enrich trades with settlement instructions (SSIs) from the alert, ensure that your ALERT configuration is fully functional. Note The red asterisk mandatory field. next to all of the fields in the screens described in this chapter indicates a Review Trade Blotter Content and Credentials When you log in to the trade blotter, the CTM service displays views with fields that are appropriate for your organizational setup. Review the trade blotter to verify that you have all of the required views and roles to work on trades according to your business requirements. Some examples include: Views Review the trade blotter to ensure that you have the default trade views (Managing Views) and any required notification views. Asset Class Ensure that the trade blotter shows the asset class, or multiple asset classes, your business requires. Credentials In the lower section of the trade blotter, ensure that your login credentials are accurate. Trade Components You Can Create and Copy Table 2.1 outlines the components you can create and copy in the trade blotter. Table 2.1 Create and Copy Trade Components Task Blocks and confirmations Description Block-level workflow broker/dealers can do the following: Create your own blocks and confirmations within the blocks. Copy a block you created. Copy a block your counterparty created. Create one or more confirmations from your counterparty s allocations in the Instructing Party Alleged view under the following conditions: o o You and your counterparty have an L1 paired block. The block is MACH (Matched), MISM (Mismatched), or PEND (Pending). The CTM service then matches on both trade components. Creating Trades 30

31 Table 2.1 Create and Copy Trade Components (continued) Task Description Confirmations Block-level workflow broker/dealers can do the following: Create your own confirmations with the expectation that the CTM service creates the block on your behalf. Copy a confirmation you created with the expectation that the CTM service creates the block on your behalf. Create one or more confirmations from your counterparty s allocations in the Instructing Party Alleged view under the following conditions: o o You and your counterparty have an L1 paired block. The block is MACH (Matched), MISM (Mismatched), or PEND (Pending). Confirmations only The CTM service then matches on both trade components. Allocation-confirmation workflow broker/dealers who work with confirmations only can do the following: Create your own confirmations. Copy a confirmation you created. The CTM service treats a single confirmation as an entire trade side and uses it to match with your counterparty s trade information. Manage Manual Entry Defaults The Manage Manual Entry Defaults screen allows you to set block and confirmation fields with commonly used values and counterparties. Use the Manage Manual Entry Defaults feature to: Streamline the time it takes to input trade information manually. Ensure accurate data input by maintaining commonly used values and counterparties in manual entry fields. Manual Entry Defaults To create manual entry defaults: 1. Open any view in the trade blotter. 2. Select View, then Manage Manual Entry Defaults. The Manage Manual Entry Defaults dialog box appears, shown in Figure 2.1. Creating Trades 31

32 Figure 2.1 Manage Manual Entry Defaults Dialog Box 3. Select each check box under Set Default for the fields you want to default to specific values. Note For Settlement Date, the CTM service calculates weekends, but not holidays. For example, say that the Trade Date is a Friday, Settlement Date is T + 1, and Monday is a national holiday. The CTM service calculates Settlement Date as Monday. 4. Select or type the default value as appropriate for each checked field in the Default Value section. 5. Ensure that the Set Default and Default Value selections are correct and then click Save Defaults. Next time you create a block or confirmation, the trade blotter displays your default values in the corresponding fields. Note Save time entering information in drop-down list boxes using the same method described in. Favorite Counterparties The Favorite Counterparties tab allows you to customize the list of common counterparties you work with. In a Quick Trade Entry screen, the favorite counterparties you select appear at the top of the Instructing Party drop-down list box. Creating Trades 32

33 Figure 2.2 illustrates the Favorite Counterparties tab. Figure 2.2 Manage Manual Entry Defaults Dialog Box Quick Trade Entry The quick trade entry screen enables you to create a block trade in which the investment manager allocates the entire block to a single fund. Use the quick trade entry screen to enter a block only or a block and confirmation in a single screen. The quick entry screen includes all of the L1 and L2 fields. To create a block and confirmation in the quick entry screen: 1. Open any view in the trade blotter. 2. Do one of the following: Select Trade, then Quick Trade Entry, and then Create Quick Entry Trade. Press Ctrl + Q. Right-click a trade component and select Quick Trade Entry, then Create Quick Entry Trade. The trade blotter displays the Create Trade dialog box, shown in Figure 2.3 Creating Trades 33

34 Figure 2.3 Quick Trade Entry DTCC provides the following features in the quick trade entry screen that correspond to the call- out numbers in Figure 2.4: Callout 1 When you supply valid values in the Security Code and Numbering Agency/ Country Code boxes, the CTM service can automatically populate the Security Description. The look-up is based on a daily feed to the DTCC databases. Click to save the step of typing in a description (Figure 2.4). Figure 2.4 Security Description Lookup The CTM service can only look up security descriptions for valid security codes using the following Numbering Agency/Country Code identifiers: o o o CUSIP (Committee on Uniform Security Identification Procedures) ISIN (International Securities Identification Numbers) SEDOL (Stock Exchange Daily Official List) Callout 2 Automatic calculation of Total Trade Amount and Total Net Cash Amount. The example in Figure 2.5 shows how the trade blotter calculates totals for a ten-year corporate bond calculated with average pricing: Creating Trades 34

35 o o Total Trade Amount is the Quantity of the instrument multiplied by its Price. Example: A Total Trade Amount of 500, represents a Quantity of 1000 multiplied by a Price of 500. The calculations for Total Net Cash Amount depend on the asset class and whether the trade is a BUY or SELL. Table 2.2 shows the four possible calculations. Table 2.2 Total Net Cash Amount Calculation Trade Side BUY Total Net Cash Amount Calculation Equity: Total Trade Amount plus (+) Total Commissions (TCOM) plus (+) Total Charges/Taxes/Fees (TFEE) Debt: Total Trade Amount plus (+) Total Accrued Interest plus (+) Total Commissions (TCOM) 1 plus (+) Total Charges/Taxes/Fees (TFEE) SELL Equity: Total Trade Amount minus (-) Total Commissions (TCOM) minus (-) Total Charges/Taxes/Fees (TFEE) Debt: Total Trade Amount plus (+) Total Accrued Interest minus (-) Total Commissions (TCOM)1 minus (-) Total Charges/Taxes/Fees (TFEE) 1 Total Commissions (TCOM) is available for Convertible Bond (COND) debt instrument types only. Debt Instrument Sell Example: A Total Net Cash Amount of 489, represents the Total Trade Amount of 500,000.00, plus (+) the Total Accrued Interest of 4,620, minus (-) a TFEE of 14, (Figure 2.5). Figure 2.5 Total Trade Amount and Total Net Cash Amount Calculations The calculator icon in the trade blotter changes color as described in Table 2.3. Table 2.3 Calculator Icon Color States Icon Color State Description Appears gray by default before DTCC totals on any of the fields. If you supply a value, the gray color remains gray. Changes to blue when DTCCtotals a field for you. Changes back to gray if you override the DTCC calculation by deleting the value or entering a different value. Callout 3 Optional block Commissions and Charges/Taxes/Fees enable you to provide the corresponding values and obtain the total amounts. The example in Figure 2.6 shows how the trade blotter calculates total commissions and charges/taxes/fees for an equity instrument. o TCOM is the total of each commission amount that appears when you click to submit more than one commission amount. It also represents the calculation for a single commission with a basis type of Creating Trades 35

36 PERC or PERU. Example: A TCOM of 17, represents the executing broker s Amount of 5000 (FLAT) plus (+) a local broker s commission Amount of 2.5 percent of the Total Trade Amount. o TFEE is the total of each charge/tax/fee amount that appears when you click to submit more than one charge, tax, or fee amount. Example: The CTM service calculates the TFEE of 14, by taking a charge type Amount of plus (+) a Local Tax of 4650 (Figure 2.6. Figure 2.6 Total Commissions and Total Charges/Taxes/Fees Calculations Callout 4 The fields that supplied in the Create Confirmation section of the Create Trade screen depend on your settings. The purpose of the Account ID field is to enable you to specify the investment manager s account in which the confirmation settles. If you and your counterparty use the ALERT platform and you subscribe to Broker Internal Account (BIA), the BIA field appears next to the Account ID field. When you provide a valid BIA, the CTM service automatically populates the Account ID and Account Name fields for you (Figure 2.7). Figure 2.7 Account ID and Account Name Lookup If you supply an invalid BIA value, the trade blotter displays an error (Figure 2.8). The CTM service cannot look up the Account ID and Account Name based on an incorrect BIA or if the information does not exist on. Figure 2.8 Account ID and Account Name Lookup Error Creating Trades 36

37 Callout 5 Optional block Settlement Source Indicator values as follows: o Manual for manually supplying settlement instructions. When you select Manual from the Settlement Source Indicator drop-down list box, Figure 2.9 shows the optional fields that appear. Figure 2.9 Manual Settlement Source Indicator Fields o o ALERT for ALERT settlement enrichment. When you select ALERT from the Settlement Source Indicator drop-down list box, Figure 2.3 on page 34 shows the resulting mandatory ALERT fields. None for clients who do not use DTCC for trade settlement. 3. Enter your values in the Create Trade fields dialog box. 4. When you finish, click either of the buttons described in Table 2.4 Table 2.4 After you Create a Block Button Trade Blotter Action Sequence Submit Submits the new trade. Closes the Create Block dialog box. Displays the previous trade blotter view. Close Cancels the new trade. Displays the previous trade blotter view. Full Trade Entry The full trade entry screen enables you to provide information in the entire set of CTM fields. To create a block or confirmation in the full trade entry screen: 1. Open any view in the trade blotter. 2. Do one of the following: Select Trade, then Full Trade Entry, and then Create Block. Right-click a trade component and select Full Trade Entry, then Create Block. The trade blotter displays the initial Create Block dialog box, shown in Figure Creating Trades 37

38 Figure 2.10 Create a Block Only First Screen To prevent DTCC from creating confirmations on the block automatically, leave the Prorate and Auto Create Confirmations box set to the default None. To enable the CTM service to create confirmations for you, follow the procedure in Create a Block with Automatic Confirmation Creation. 3. Enter your values in the Block Entry Information fields and then click Submit. The Create Block dialog box appears. Figure 2.11 shows a portion of this dialog box. Figure 2.11 Create a Block Only Second Screen If you have not saved the Manual Entry Default table values, DTCC populates only Trade Date and Trade Time fields. Manage Manual Entry Defaults describes the procedure for saving these values. 4. When you are done entering the block, click any of the buttons described in Table 2.5. Creating Trades 38

39 Table 2.5 After you Create a Block Button Trade Blotter Action Sequence Submit Submits the new block. Closes the Create Block dialog box. Displays the previous trade blotter view. Create New Submits the new block. Displays the subsequent Create Block dialog box to create another block with the same data. Close Cancels the new block or changes to any of the fields in the dialog box. Displays the previous trade blotter view. Creating Blocks Under the following conditions, you can create a block and either create one or more confirmations yourself or allow DTCC to create the confirmations: Your counterparty uses CTM You trade in the debt or equity class Create a Block Only To create a block only, you can use the quick or full trade entry option described earlier in this chapter. Create a Block and Confirmation To create a block and confirmation, you can use the quick or full trade entry option described earlier in this chapter. Create a Block with Automatic Confirmation Creation To create a block and enable the CTM service to create confirmations for you, use the quick or full trade entry option. See Automatic Confirmation Creation with Proration: Best Practices. Quick Trade Entry In the Create Trade screen, navigate to the Prorate and Autocreate Confirmations drop-down list box in the Block Optional Fields section (Figure 2.12). Creating Trades 39

40 Figure 2.12 Create a Block and Automatic Confirmations Quick Trade Entry Full Trade Entry In the Create Block screen, navigate to the Prorate and Auto Create Confirmations drop-down list box in the Block Entry Information section (Figure 2.13). Figure 2.13 Create a Block and Automatic Confirmations Full Trade Entry For both trade entry options, enter your value in the Prorate and Auto Create Confirmations drop-down list box as follows: To prorate the automatically created confirmations without truncation, select Proration. To prorate the automatically created confirmations with truncation for each confirmation, select Proration with Truncation. Note When you choose Proration with Truncation, DTCC truncates the confirmations based on the traded currency precision by rounding one place past the least significant digit. In the next screen, the CTM service uses your value in the mandatory Total Net Cash Amt field and prorates the allocations breakdowns your counterparty submits. When the block reaches MACH (Matched) status, the CTM service triggers proration. Copying Blocks You can copy blocks as follows: Creating Trades 40

41 Copy any of your own blocks using the full trade entry option described earlier in this chapter option. Copy any of your counterparty's blocks from the Instructing Party Alleged view using the quick entry option described earlier in this chapter. When you copy a block created by a counterparty that used the ALERT platform for settlement instruction enrichment, the CTM service does the following: o o Copies the ALERT information Updates the fields to conform with your ALERT settlement instruction settings To copy a block: 1. Select the block you want to copy. 2. Select the full or quick trade entry menu option, depending on the origin of the block. 3. Depending on the option you choose, the Create Block or Copy Block dialog appears with the populated fields corresponding to the selected source trade. The Master Ref field is empty. Once you submit the trade, you cannot amend the Master Ref field, so enter it in this step. 4. Enter the required data and then click one of the following: Submit to submit the trade to the CTM service. Close to cancel the copy of the block trade. 5. Click Refresh Data to display the copied block in the trade blotter. Creating Confirmations The trade blotter provides multiple options for you to create confirmations. Create Confirmations From Your own Block-Level Trades If you use the block-level workflow, you can create confirmations from your own blocks using either quick or full trade entry. Create Confirmations From Your Counterparty s Allocations If you use the block-level workflow, you can create confirmations from your counterparty s allocations using the quick or full trade entry option. Before you can create confirmations from your counterparty s allocations, open the Instructing Party Alleged view and ensure that: You and your counterparty use the block-level workflow. You and your counterparty have a Level 1 (L1) paired block that is MACH (Matched), MISM (Mismatched), or PEND (Pending). You can create the confirmations one at a time or select multiple allocations to create confirmations. Note To create a confirmation from an allocation, paired blocks must belong to the same asset class. Create a Confirmation from an Allocation When you select Create Confirmation from either trade entry submenu, the Create Confirmation screen appears. When using the quick trade entry option, the Block Information appears in a view-only panel above the Create Confirmation section. Figure 2.14 illustrates a portion of the Create Confirmation screen. Creating Trades 41

42 Figure 2.14 Create a Confirmation from an Allocation Create multiple confirmations from allocations You can only create multiple allocations in using the quick trade entry option. When you select Create Multiple Confirmations from Allocations from the Quick Trade Entry submenu, the Create Confirmation screen appears. The Block Information is in a view-only panel above your selected confirmations (Figure 2.15). Figure 2.15 Create Multiple Confirmations from Allocations Create Confirmations Without an Associated Block (ACWF) In the ACWF, there is no block. One or more confirmations constitute the entire trade side in a transaction and specify all of the information required for matching. To create a standalone confirmation: 1. Open the My ACWF Confirms view or the Alleged ACWF Allocs view. 2. Do one of the following: Select Trade, then Full Trade Entry, and then Create ACWF Trade. If there are allocations or confirmations in the view, right-click within the trade blotter view and then Creating Trades 42

43 select Full Trade Entry, then Create ACWF Trade. The trade blotter displays the initial Create Allocation-Confirmation Trade dialog box, shown in Figure Figure 2.16 Create Confirmation Only (ACWF Trade) 3. In the Allocation-Confirmation Entry Information area, ensure that the values are correct for all of the dropdown list boxes. 4. Click Submit. The Create Allocation-Confirmation Trade dialog box appears, part of which is in Figure Figure 2.17 Create Confirmation (ACWF) 5. When you are done entering the confirmation, click any of the buttons described in Table 2.6. Table 2.6 After you Create a Confirmation Button Trade Blotter Action Sequence Submit Submits the new confirmation. Closes the Create Allocation-Confirmation Trade dialog box. Displays the previous trade blotter view. Creating Trades 43

44 Table 2.6 After you Create a Confirmation (continued) Button Create New Trade Blotter Action Sequence Submits the new confirmation. Displays the Create Allocation-Confirmation Trade dialog box to create another confirmation with the same asset class, settlement source, and counterparty data. Close Cancels the new confirmation or changes to any of the fields in the dialog box. Displays the previous trade blotter view. Creating Trades 44

45 3. MANAGING TRADES Introduction This chapter describes how to find and manage trades. Finding Trades You can find trades by trade type and reference or by searching from within a column. 1. Open the Find Trade area: 2. Click the Down arrow once under Save to open the find trade area. The trade blotter displays the find trade area (Figure 3.1). Figure 3.1 Find Trade Area 2. Click the Down arrow again to expand the find trade area. Find Trades by Trade Type and Reference 1. Click either Block or Confirmation. Depending on the trade component you select, the following options are available in the By Reference drop-down list box: Block Enables you to find trades using your internal Master Reference or the CTM-assigned CTM Trade Side ID. Confirmation Enables you to find trades using your internal Client Confirmation Reference or the CTM-assigned CTM Trade Detail ID. 2. Click either My Side or Counterparty Side. Type a value in the appropriate By Reference box and then press Enter. All trades that match your search criteria appear. 3. When finished, click the Up arrow. Find Trades from Within a Column Click anywhere in a column to find a trade. Then, start typing the beginning of the text you require, as shown in Figure 3.2. Managing Trades 45

46 Figure 3.2 Finding Trades From a Column Optimize the search for a trade or notification by first sorting the column you are searching. Interpret Trade Status Icons Status columns provide information about the status of your trades and notifications. Each status column varies depending on the information represented (for example, Match Agrd, Complete). Table 3.1 describes the status column icons in the trade blotter. Table 3.1 Status Column Icons Status Column Icon Description # Confirms Outstanding Number of confirms within the block requiring attention (MISM, CCRQ, CCRJ, or DISQ) Confirm Err Confirm Rej Confirm Status Number of confirms within the block waiting for other components (NMAT, CREQ, or CREJ) FATL (Fatal) WARN (Warn) INFO (Info) WARN (Warn) INFO (Info) RJCT (Rejected) RJST (Reject Sent) Done and MACH (Matched) Needs attention (MISM, CCRQ, CCRJ, and DISQ) Waiting for others (NMAT, CREQ, and PEND) Done, but not MACH (CAND and CANA) Ineligible for matching (ILFM) (Omni trades only) Block Err Block Rej Block Status FATL (Fatal) WARN (Warn) INFO (Info) RJCT (Rejected) RJST (Reject Sent) Done and MACH (Matched) Needs attention (MISM, CCRQ, CCRJ, and DISQ) Waiting for others (NMAT, CREQ, and PEND) Done, but not MACH (CAND and CANA) Managing Trades 46

47 Table 3.1 Status Column Icons (continued) Status Column Icon Description Complete COMP (Complete) INCP (Not Complete) Match Agrd MAGR (Match Agreed) NMAG (Not Match Agreed) CMAG (Cancel Match Agreed) Amending Trade Components When you cannot match a trade, you can amend L1 pairing and L2 matching trade component data. The following guidelines apply: You cannot amend the Currency value. If it is incorrect, DTCC requires that you or your counterparty cancel and rebook the trade. You can amend trade components from the Compare, Exceptions, Errors, and History dialog boxes. If your organization uses the CTM service to generate blocks, you can amend only block information from the views. To amend a trade component, follow these steps: 1. Do one of the following: Select the trade component you want to amend and then select Trade, then Amend. Right-click a trade component and then select Amend. Depending on your selection, the following appears: Amend Block Fields Amend Confirmation Fields 2. Modify the value in an L1 or L2 data field. 3. Click Amend. If no synchronous errors occur (no missing or incorrect data), the amended data appears. If a synchronous error occurs, the trade blotter displays an error message in the Amend Block Fields or Amend Confirmation Fields dialog box. Figure 3.3 shows a synchronous error example for a block. Figure 3.3 Amend Block Fields - Synchronous Error Message Correct the error in the Amend Block Fields dialog box and then submit the amended trade component. 4. If an asynchronous error occurs after you successfully amend a trade, select the trade that is in error and then select Trade, then View Error(s). Managing Trades 47

48 Pairing and Matching Trades The CTM service uses pairing and matching to identify your counterparty s trade and to compare specified fields on the trade sides: Pairing compares a minimum set of critical fields (L1 fields) on both sides of the trade. The CTM service requires equivalent values of corresponding pairing fields on both sides of a trade. Once pairing occurs, the CTM service proceeds to matching. Matching compares a set of fields (L2 fields) that investment managers specify in a matching profile during CTM set-up. A matching rule outlines the acceptable tolerances allowed in matching fields. Track Match Status for Blocks and Confirmations Figure 3.4 indicates when block and confirmation Match status is set the first time and each time it changes thereafter. Figure 3.4 Block and Confirmation Status Start Dates and Times Compare Pairing and Matching Fields for a Trade The trade blotter allows you to compare your Level 1 pairing and Level 2 matching fields with your counterparty s fields. Level 1 pairing is sometimes referred to as L1 pairing or pairing. Level 2 matching is sometimes referred to as L2 matching or matching. To compare fields, do one of the following: Select the trade component and then select Trade, then Compare Fields. Right-click a trade component and select Compare Fields. The View Fields dialog box appears. Rejecting and Canceling Trades Both trade sides can perform the following actions on one or more eligible trades: Reject a trade Reject a trade cancellation request Cancel a trade See the XML Message Specification for your asset class to learn more about the reject and cancel functions, including match status requirements and rules. Reject a Trade To reject one or more trades: Managing Trades 48

49 1. Select the trade or trades you want to reject. 2. Do one of the following: Select Trade, then Reject. Right-click the selection and select Reject. Figure 3.5 shows the Reject Trade(s) dialog box. Figure 3.5 Rejecting a Trade 3. Verify that all the trades you want to reject are in the list and their check boxes selected. Clear the check box for any trades you do not want to reject. 4. Select a reason from the Reason drop-down list box, and type any explanatory text in the Comment box. Note The reason you select and comment you type into the Comment box apply to all of the selected trades. 5. Click Reject Trade(s). The previously open view appears. The fields outlined in Figure 3.6 show the date and time you rejected the trade components. Figure 3.6 Block and Confirmation Reject Dates and Times Reject a Trade Cancellation Request You can reject a trade cancellation request your counterparty submits. To reject a trade cancellation request for one or more trades: Managing Trades 49

50 1. Select the trade cancellation or trade cancellations you want to reject. 2. Do one of the following: Select Trade, then Reject Cancel. Right-click the selection and then select Reject Cancel. The Reject Cancel Request(s) dialog box appears (Figure 3.7). Figure 3.7 Rejecting a Trade Cancellation 3. Verify that all trades whose cancel request you want to reject are in the list and their check boxes selected. Clear the check box for any trades whose cancel request you do not want to reject. 4. Type any comments in the Comment box. The CTM service adds it to all of the selected trades. 5. Click Reject Cancel Request(s). : The CTM service requires bilateral agreement to cancel a MAGR (Match Agreed) trade. A rejected trade cancellation request results in a trade remaining in MAGR (Match Agreed) status with one of the following block or confirmation statuses: CCRJ (Counterparty Rejected Cancel Request) if your counterparty rejects your cancellation request. CREJ (Cancel Request Rejected) if you reject a cancellation request by your counterparty The CREJ and CCRJ statuses provide an audit trail which shows that you or your counterparty made a failed attempt to cancel the trade. Cancel a Trade To cancel a trade or trades: 1. Select the trade or trades you want to cancel. 2. Do one of the following: Select Trade, then Cancel Right-click the selection and select Cancel. The Cancel Trade(s) dialog box appears (). Managing Trades 50

51 Figure 3.8 Canceling a Trade 3. Verify that all trades you want to cancel are in the list and their check boxes selected. Clear the check box of any trades you do not want to cancel. 4. Type any comments in the Comment box. 5. Click Cancel Trade(s). Note The reason you select and comment you type into the Comment field apply to all of the selected trades. Viewing and Closing a Trade Component Error Warning The CTM service suspends processing on any trade with a Fatal (FATL) error until you or your counterparty resolves the error. To view and close trade component errors: 1. Select the trade component with the error you want to view or close. 2. Do one of the following: Select Trade, then View Error(s). Right-click the selection and select View Error(s). The View Errors dialog box appears for the type of trade component you chose (Figure 3.9). Figure 3.9 View and Close Errors 3. Select the errors you want to close, or click Select All and then click one of the following: Close Errors to close the selected error or errors. Close to cancel the close error action. Managing Trades 51

52 FOR MORE INFORMATION DTCC Learning at: or visit us on the web at: