6.2.2.3 Third level validations

The third level check is performed only if the first and second levels of checks are successful. As part of this check, for trades done on the trade cut-off date, the system will verify the trade cut-off times defined for both the bought and sold currencies of the deal and consider the earlier of the two as the actual cut-off time for the deal.

If the third level check is not satisfied, the system will display the overriding message as “Cut-off time has passed for CLS currency”.

If you select ‘OK’ and ignore the message, the deal is saved as a CLS deal. Otherwise, it is considered as a non-CLS deal.