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Chapter 13: Failed Trades – Causes, Cons... > 13.3 The Prevention and Resolution o...

13.3 THE PREVENTION AND RESOLUTION OF FAILED TRADES AND THE IMPACT ON IT APPLICATIONS

In order to minimise the number of failed trades, operations staff need to be able to monitor the status messages that the settlement agent sends prior to value date so that potential failed trades are handled as exceptions before value date. Settlement systems therefore need to be able to:

1. Automatically parse status messages and update the main trade record with the current status.

2. Provide real-time enquiries for operations personnel to inspect those instructions whose status is not “OK”. These enquiries must be parameter driven, so that operations staff can view problem trades using a number of criteria such as:

  • Trading party
  • Instrument being traded value date

  

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