14.10 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

These messages have been explained in detail in the following sections.

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.