Performing Three Way Broker Matching

This section describes how to integrate broker confirmations and perform three way matching.

 

1. Setup Requirements

 

1.1 Domain Values

Broker Confirmations are recognized based on the value of Tag 94A: BROK.

 

Broker messages are integrated with Msg Attribute Subtype = BROKER, Msg Attribute BrokerRef and IsBrokerMessage = true.

 

To process broker messages, you need to add the following values to the domain "MsgAttributes":

Value = BrokerRef

Value = Subtype

Value = IsBrokerMessage

 

Domain "messageType":

Value = BrokerConfirmation

 

Add the following values to the domain "Broker.Action.Type Of Operation":

Value = AMEND, Comment = CNTP_REPLACE

Value = CANCEL, Comment = CNTP_REPLACE

Value = COPY, Comment = CNTP_REPLACE

 

Add the following values to the domain "brokerType":

Value = MT300, Comment = BrokerConfirmation

Value = MT305, Comment = BrokerConfirmation

Value = MT306, Comment = BrokerConfirmation

Value = MT320, Comment = BrokerConfirmation

 

All broker MT types are mapped to the same message type BrokerConfirmation for which we define a global workflow.

 

1.2 Message Workflow for BrokerConfirmation

 

On the transition PENDING - REMOVE - DISCARDED, the filter is:

 

On the transition PENDING - PROCESS - ALLEGED, add the rules BrokerConfirm, CheckIncomingFormat, and CheckIncomingProcess to set the message attribute Process Issue for any processing issue.

 

1.3 Matching Context

You need to define a matching context with Context Type = ThreeWayBroker and Handler = ThreeWayBroker.

Then click Schema to generate the XML file "MatchingSchemaBaseDynamic.xml" that contains the enrichment data. Add this file to Execute SQL and run it. This applies any time the Schema button appears (after modifying the context for example).

 

2. Integration

Broker Confirmations follow the same integration logic as Incoming Confirmations in terms of AMND/CANC/DUPL logic, check on Duplicate and out of sequence messages.

We check all economic details (perfect match or auto tolerance) and ignore settlement instructions.

Broker Confirmations are tagged with specific attributes as shown in the Message Report extract below to identify them into the system for audit purposes.

 

3. Matching Process

The following columns in the Matching Monitor are specific to broker confirmations:

•

is Broker: To identify if the message is a broker confirmation.

•

is BrokerIndexable: To identify if an outgoing or incoming message is eligible for indexation with a broker confirmation.

•

is Broker Indexed: To identify if an outgoing or incoming is indexed to a broker confirmation.

•

Broker Link: Details on the broker message linked to the incoming/outgoing message

Unlinked Broker confirmations go to Broker status for information

Automatically linked Broker confirmations go to a Broker Indexed status and disappear from the matching. You can still check the details of the Broker confirmation on the outgoing or incoming message to which it is indexed.

The outgoing or incoming message indexed with a Broker is marked with a IsIndexed flag. You can right-click the message and choose Show Broker to view the

Broker Confirmation.

The Matching Audit of the indexed outgoing or incoming message has a Broker Link tab where you can see the Broker Linked.

You can also go to the Matching panel of your matched items to display the Link Pairs and Broker Indexed as shown below:

 

When a Broker is Indexed to an outgoing or incoming message but with Alias differences, the Broker message goes to Mismatched (Broker) status. Double-clicking on that category brings the ability for a user to define Alias that could be re-used between that Broker and the Processing Organization.