15.10 Handling Status for Processing Markit Agency Trade Settlement
Following are the various statuses handled for processing Markit Trades and Agency Trade
Settlement in the system.
- Message status
- Markit Trade status
- Confirmation Status
- Process Status
- Position Update message status
- Participant Transfer Process status
Message Status
Details on Message Status are given below.- This status indicates whether the system has successfully processed a Markit message or not.
- This status is updated and tracked for each Markit message and also for the individual Oracle Banking Corporate Lending tranche under a Trade Id.
- This status is for agency trade settlement for Markit trades.
- This status is also updated and tracked for Clearpar trades
Markit Trade Status
Details on Markit Trade Status are given below.- This status indicates the Markit trade status in the Markit System.
- This status is updated and tracked for each Markit message and also for the individual Oracle Banking Corporate Lending tranche under a Trade Id.
- This status is for agency trade settlement for Markit trades
Confirmation Status
Details on Confirmation Status are given below.- This status indicates whether the Clearpar/Markit Trade is closed or pending to be closed in the system.
- This status is updated only after closure message is received from Markit. Until then the default status is Pending Closure.
- This status is updated and tracked for each individual Oracle Banking Corporate Lending tranche for a Trade Id.
- This status is used for Markit Trade settlement processing.
Process Status
Details on Process Status are given below.- This status indicates whether the Clearpar/Markit Trade is settled in system or not, that is, the Participant Transfer is successful in the system or not.
- This status is updated only after closure message is received and also after confirmation status is updated as Closed. The default status is Extraction.
- This status is updated and tracked for the individual Oracle Banking Corporate Lending tranche under a Trade Id.
- This status is used for Markit Trade settlement processing
Position Update Message Status
Details on Position Update Message Status are given below.- This status indicates that the Position Update message is generated/Handed off to Markit.
- This status is updated only after closure message successfully processed in the system.
- This status is updated and tracked for each Markit Trade ID.
- This status is for agency trade settlement for Markit trades
Participant Transfer Process Status
Details on Position Update Message Status are given below.- This status indicates that Participant Transfer is processed in Agency for the tranches under the Markit Trade ID. Default status is Unprocessed.
- If Participant Transfer is processed for all tranches under the Markit Trade ID, status is updated as Fully Processed.
- If Participant Transfer is in Failed status for all tranches under the Markit Trade ID, then status is updated as Failed.
- If Participant Transfer fails for any of the tranches and is processed for a few tranches, then system updates the status as updated as Partially Processed.
Parent topic: FpML Messaging