15.8.6 Position Update Notice

Once all the trades for a Markit Trade Id are marked as Closed, system sends the Position Update Notice message to Markit for all such trades. Once this message is generated successfully, you can view the message in the FpML Message Browser. Position update message for a Markit Trade ID is not allowed to generate/ handoff from this Browser. If message generation fails, it should be generated after user marks for reprocessing from Markit Agency Interface Browser.

One bulk Position Update message is generated for all the tranches(facilities) under the Markit Trade Id.

Position Update message for a CUSIP/ISIN is sent only if the Original Take-on Facility/Take- On Deal message was already sent to Markit along with Initial Position Update message. If Take-On deal/facility message is not sent to Markit for a CUSIP/ISIN under a Markit Trade id, then the Position Update message for all the CUSIP/ISIN’s under the Trade ID will not be sent to Markit.

Position Update message would consists of the following primary fields.

• Buyer/Seller
• dealSummary – Summary of the facility (Deal) in Oracle Banking Corporate Lending with the External CUSIP/ISIN.
• transferState – Defaulted as Closed.
• effectiveDate – Effective date of the trade, same as the effective date received in the Submit Agency Update message.
• knowledgeDate –defaulted with the Effective Date.
• facilityPortfolioPositions – This field will have multiple values for each of the tranches for which the trade from Markit was sent, similar to the multi Facility Trade Details sent in the Trade element of the Syndicated Loan Trade Notice Agent message.
  • tradeId –Markit trade id received from the original message
  • facilitySummary – Includes the CUSIP/ISIN for the tranche
  • commitedPosition – System populates the tranche position for the participant, post the effect of the current trade.
  • fundedPosition – System populates the total drawdown outstanding position for the participant, post the effect of the current trade.
  • committedTransferAmount – System populates the trade amount for the tranche.
  • transferAmount – System populates the committed Transfer Amount.
  • changeEvent –Defaulted as Assignment.

Appropriate Position Update message status is updated in Markit Agency Interface Browser. This status indicates whether or not system has sent the Position Update message to Markit successfully for a Markit Trade id.

System does not initiate Consolidation and Trade Processing until the position update message is generated and handed-off to Markit successfully.

Note:

• If the Ext Deal CUSIP/ISIN for all Tranches under the facility is same, then InstrumentId in the FpML message will display Ext Deal CUSIP/ISIN from Tranche.
• If Ext Deal CUSIP/ISIN for any of the Tranche under the facility is different or null, then InstrumentId in FpML message will display CUSIP from Facility.