15.8.2 Trade Update Notice

The Trade Update Notice message is an update notification on the trade received from Markit to notify the trade status in Oracle Banking Corporate Lending. Each Trade Update Notification message contains the following details:

• Unique identifier for the trade
• Update Status

Each Trade Update Notification Message comprises the following primary details:

• tradeID - Unique Trade Id for each Markit trade. It consists of the Markit Trade Id. LQT Ticket Id is also received if the bank is one of the trade counterparty.
• allocationID –This can have the Allocation Id’s of all the allocations under the Trade Id. This can also be blank. Irrespective of the allocation id, all the trades under the Markit TradeID are updated with the appropriate ‘updateStatus.
• tradeCompletelySettled – This field is not used by Oracle Banking Corporate Lending for the agented level messages.
• updateStatus – The status received is populated as the Markit Trade Status in the Agency Confirmation Browser. The possible values for updateStatus are given below.
  • Suspended
  • Cancelled
  • Removed

A system job processes all the uploaded messages. Based on the trade id, all the trades corresponding to this message are identified. If the trade id does not exist, then the message is marked as Rejected.

Confirmation status is updated as Rejected for trades, based on this message. You cannot change the confirmation status for rejected trades. Trade Update Notification message is sent only if the trade settlement should be blocked in Markit/Oracle Banking Corporate Lending.