Integrating FX, Cash, and Commodities Confirmation Messages

This document guides you through the setup, generation, and reconciliation of:

•

FX Confirmations (MT300)

•

Cash Confirmations (MT320, MT330)

•

Cash Settlement Advices (MT350)

•

Commodity Confirmations (MT600)

•

Commodity Option Confirmations (MT601)

•

Precious Metal Deposit Loan Confirmations (MT620)

 

Overview

The matching framework allows defining matching contexts between outgoing and incoming confirmation messages. The status codes of the outgoing messages and related transfers can be updated based on the results of the matching.

The logic of the process is the following:

•

New messages are saved in calypso (either incoming or outgoing).

•

If eligible in one matching context, then the MatchableBuilderEngine creates a new Matchable object containing the matching information necessary for this object to go through the matching process.

•

The MatchingEngine subscribes to Matchable objects, and tries to automatically process them, depending on the matching information defined in the associated context (matching keys, tolerance, etc.).

 

The Matching Monitor keeps track of the items remaining to be matched and allows performing manual processing.

 

1. Setup Requirements

 

1.1 Domain Values

Add MT300, MT330, MT350, MT600, MT601, MT620 to the domain "ExternalMessageField.MessageMapper".

 

1.2 Message Configurations

Outgoing Messages MT300, MT330, MT600, MT601, MT620

The outgoing messages are confirmation messages generated on VERIFIED_TRADE events.

Sample FX SWIFTCONFIRM configuration

 

Sample CallNotice Confirmation configuration

 

Sample Commodity Confirmation configuration

 

Sample Precious Metal Deposit Loan Confirmation configuration

 

Outgoing Messages MT350

The outgoing messages are settlement advice messages generated on VERIFIED_PAYMENT and VERIFIED_RECEIPT events.

Sample CallNotice settlement advice configurations

 

Chaser Messages

You can also configure the generation of chaser messages for missing confirmations and DK messages for mismatched confirmations.

Refer to Calypso Messages documentation for details.

 

Incoming Messages

The incoming FX / Cash / Commodity confirmations are generated by the import message engine or the scheduled task MESSAGE_MATCHING with message type INC_FXCONFIRM (for MT300) / IncomingConfirmation (for MT330, MT350, MT600, MT601, MT620).

 

Add MT300 to the domain "incomingType" with Comment = INC_FXCONFIRM.

 

Add MT330, MT350, MT600, MT601, MT620 to the domain "incomingType" with Comment = IncomingConfirmation.

 

You do not need to specify a message configuration but you need to add INC_FXCONFIRM and IncomingConfirmation to the domain "messageType".

 

1.3 Sample Message Workflows

SWIFTCONFIRM / Confirmation / SettlementAdvice

Orig Status	Action	Resulting Status	Use STP	Rules	Create Task
ACKED UNMATCHED	CANCELNEW	CANCELED	false		false
ACKED UNMATCHED	COPY	REPLACED	false		false
ACKED UNMATCHED	MANUAL_MATCH	MATCHED	false		false
ACKED UNMATCHED	MATCH	MATCHED	false		false
ACKED UNMATCHED	MISMATCH	MISMATCHED	false		true
ACKED UNMATCHED	PROCESS	PROCESSED	true		false
ACKED UNMATCHED	REMOVE	REPLACED	false		false
HELD	AUTHORIZE	VERIFIED	false		false
HELD	CANCEL	CANCELED	false		false
MATCHED	UNMATCH	ACKED UNMATCHED	false		false
MISMATCHED	CANCELNEW	CANCELED	false		false
MISMATCHED	COPY	REPLACED	false		false
MISMATCHED	MANUAL_MATCH	MATCHED	false		false
MISMATCHED	REMOVE	REPLACED	false		false
MISMATCHED	UNMATCH	ACKED UNMATCHED	false		false
NACKED	CANCEL	CANCELED	false		false
NONE	NEW	PENDING	false		false
PENDING	AMEND	PENDING	false		false
PENDING	AUTHORIZE	VERIFIED	true	CheckContact,removeLinkedMessage	true
PENDING	CANCEL	CANCELED	false		false
PENDING	FIX	PENDING	false	ApplyDefaultContact	false
REPLACED	UNMATCH	REPLACED	false		false
SENT	ACK	ACKED UNMATCHED	false		false
SENT	CANCELNEW	CANCELED	false		false
SENT	COPY	REPLACED	false		false
SENT	MANUAL_ACK	ACKED UNMATCHED	false		false
SENT	MANUAL_NACK	NACKED	false		false
SENT	NACK	NACKED	false		true
TO_BE_SENT	CANCEL	CANCELED	false		false
TO_BE_SENT	EDIT	TO_BE_SENT	false		false
TO_BE_SENT	RESEND	TO_BE_SENT	false		false
TO_BE_SENT	SEND	SENT	false		true
VERIFIED	AMEND	PENDING	false		false
VERIFIED	EDIT	VERIFIED	false		false
VERIFIED	HOLD	HELD	false		true
VERIFIED	MAN_TO_SEND	TO_BE_SENT	false		true
VERIFIED	TO_SEND	TO_BE_SENT	true	CheckKickOff,CheckCutOff	true

 

INC_FXCONFIRM / IncomingConfirmation

Orig Status	Action	Resulting Status	Use STP	Rules	Create Task
ALLEGED	CNTP_CANCEL	REPLACED	false		false
ALLEGED	CNTP_REPLACE	REPLACED	false		false
ALLEGED	MANUAL_MATCH	MATCHED	false		false
ALLEGED	MANUAL_PROCESS	PROCESSED	false		true
ALLEGED	MATCH	MATCHED	false		false
ALLEGED	MISMATCH	MISMATCHED	false		false
ALLEGED	REMOVE	REMOVED	false		false
ALLEGED	UPDATE	ALLEGED	false		false
MATCHED	UNMATCH	ALLEGED	false		false
MISMATCHED	CNTP_CANCEL	REPLACED	false		false
MISMATCHED	CNTP_REPLACE	REPLACED	false		false
MISMATCHED	MANUAL_MATCH	MATCHED	false		false
MISMATCHED	MATCH	MATCHED	false		false
MISMATCHED	UNMATCH	ALLEGED	false		false
NONE	NEW	PENDING	false		false
PENDING	MANUAL_PROCESS	PROCESSED	false		true
PENDING	PROCESS	ALLEGED	true	IncomingConfirm	true

 

1.4 Matching Context

The Matching Context identifies which type of incoming message can be matched with which type of outgoing message, under which conditions (matching keys), and which actions can be applied to the messages (if any).

It also allows specifying preferences for the Matching Monitor.

You need to define a matching context (MT300 in this example) between SWIFTCONFIRM and INC_FXCONFIRM for FX confirmations, a matching context MT330, MT600, MT601, MT620 between Confirmation and IncomingConfirmation for Cash / Commodity confirmations, a matching context MT350 between SettlementAdvice and IncomingConfirmation for Cash settlement advices.

Sample static data filter MT300:

 

 

See Matching Context for setup details.

 

2. Starting the Engines

The Matchable Builder engine and the Matching engine are started as part of the Engine server from the Engine Manager in Web Admin.

To import incoming messages, you also need to run the Import Message engine or the scheduled task MESSAGE_MATCHING.

The Import Message engine is also started as part of the Engine server from the Engine Manager in Web Admin.

 

3. Sample Processing for MT300

 

3.1 Creation of Outgoing Messages

According to the workflow and the matching context definition, in order for a message to be handled by the Matchable Builder engine and Matching engine, it needs to be in UNMATCHED status. This status is reached after a message has been sent, and acknowledged or not.

Once you enter an FX trade, and the message is generated, you need to send the message using the Sender engine, and acknowledge the sent message (apply action ACK, or actions MANUAL_ACK and UNMATCH).

Only then, will the outgoing message appear in the Matching Monitor in UNMATCHED status.

Sample FX Trade

 

Sample unmatched SWIFTCONFIRM message

 

Sample unmatched outgoing message in Matching Monitor

 

3.2 Creation of Incoming Messages

When you import the incoming messages, the system creates INC_FXCONFIRM messages.

If the matching criteria are satisfied, the outgoing message and the incoming message are automatically matched.

Sample messages automatically matched

 

If the incoming message cannot be matched, it appears in ALLEGED status in the Matching Monitor.

Sample INC_FXCONFIRM message in ALLEGED status

 

 

See Matching Monitor for a description of all available functions.

 

3.3 Generation of Chaser Messages

Chaser messages for missing confirmations can be automatically generated, or you can generate them manually.

Right-click an unmatched message and choose Matching > Chaser > CHASE.

The message is generated as follows.

Sample CHASE message for missing confirmation

 

You can also generate "mismatched confirm" chaser messages for mismatched messages.

Select an incoming message and an outgoing message that you think should be matched, and choose Matching > Chaser > Mismatched Chaser.

Sample DK message for mismatched confirmation