6.7 Matching Process and Manual Linkage of SLT and Markit Trades

Matching is the process to uniquely identify the associated SLT trade in Oracle Banking Corporate Lending for each of the trade sent from Markit under a Markit Trade id. The matching process is initiated based on the following scenarios:

• While processing Trade Match Notice
• While processing Syndicated Loan Trade Allocation notice
• While processing Settlement Details Notice
• While processing Trade Closed Notice
• During End of Day batch
• When user initiates Match process manually
• When user initiates trade settlement from settlement queue

You can match the Oracle Banking Corporate Lending SLT trade with market trade using the following primary fields:

• Markit Trade ID/Allocation ID
• LQT Ticket ID

If the trade goes through Markit Settlement Process, then each LQT trade to Oracle Banking Corporate Lending has a Markit Trade ID. LQT should also send Markit Allocation ID for the allocated Trades along with Markit Trade ID. If the Trade is not of type Allocation, then the Allocation ID is blank.

System does not allow you to change the Markit Trade ID and Allocation ID during manual trade amendment. Each message received from Markit comprises of a valid Trade ID and an associated LQT Ticket ID and each Trade ID/Allocation ID has multiple tranche details.

During the matching process, the following fields are compared along with the primary fields between Oracle Banking Corporate Lending SLT Trade and the Markit trade:

• External CUSIP/ISIN
• Trade Amount
• Trade Currency
• Trade Price
• Trade Counterparty (buyer and seller)
• Buy/Sell Indicator
• Trade Type
• Trade Date
• Expected Settlement Date
• Form of Purchase

If the above listed fields do not match, then the match status is updated as Unmatched. The exception details are logged and the Trade Reference Number is blank. If Match status is Unmatched, then you can manually link a SLT Trade reference number to a Markit Trade in the settlement queue.

Enriching Trade reference number is possible only is the following criteria are met:

• The above listed fields are match between Markit Trade and the SLT Trade.
• SLT trade is active
• Markit Trade ID/Allocation ID is blank for the SLT Trade or it is the same as Markit trade
• Ticket id is same for LQT and Markit Trade id

In case of manual linking, if the value is null, then the Markit Trade ID/Allocation ID of the Markit trade is updated for the SLT Trade in Oracle Banking Corporate Lending.

If there is any trade amendment/settlement which leads to TAMD/TCNC/TREV/TSTL events for the trade, then system automatically changes the match status from Matched to Unmatched for the unsettled trades in the Settlement Queue. If the Match status is Unmatched, then you can manually initiate the matching process from Trade settlement queue. Matching is also done during manual trade settlement processing from trade settlement queue.

If there are any unauthorized transactions pending for Markit trades in the trade settlement queue, you cannot close the EOD batch in Oracle Banking Corporate Lending.