8.8 Auto Matching of MM Confirmation Messages

This topic describes about Auto Matching of MM Confirmation Screen.

A new Intraday Batch MMCONFRM is introduced for MM Confirmation message auto matching.

Changes is made so that the upload activity in the incoming message browser will parse the message 320/ and upload it into an internal upload table, thus confirming that the format is correct. If this step is successful, the incoming browser will show the message as processed else the message is marked for repair with an error code, which indicated the format error.

If MT 320 message is received for a call/notice type of deal , parsing will not happen and message is marked for repair.

The auto confirmation batch will then use the data in the incoming message and execute the matching based on Confirmation rule set up.

The auto-confirmation matching batch will use the rules in the sequence defined and attempt to match the messages to a contract for fully/partially matched cases.

The matching of the incoming confirmation message details with the deal details is done based on the matching required fields maintained for the confirmation rule.

The processing is done sequentially based on the rule codes maintained for the for MM module

During the auto match processing, if the details of an incoming message are matched with a single existing deal in the system based on a Full Match rule, then confirmation is marked for the deal by triggering ‘WCNF’ event at the Money Market Pre-settlement contract and the message is marked as Completely Matched. The CONF event is triggered at the Product Processor for the corresponding MM contract.

If multiple contracts are matched with a single message while processing a Full Match Rule, then the message is marked as Partially Matched.

If the message is matched while processing according to a Rule code not checked for ‘Full Match’, then also message is marked as partially matched.

Partially matched deals have to be manually matched by the user from Manual Matching screen.

The below fields of the MM deals is matched against the message field values as per the existing logic in the system

Table 8-7 Field Values

MT 320/330 MM Confirmation Message field	MM Contract field
17R	Product type
82A	Counterparty BIC
30T	Trade Date
22A	Events
30V	Value Date
32B	Currency
32B	Principal Amount
30P (MT320)	Maturity Date (For Fixed maturity contracts)
38A(MT330)	Notice Days for Notice contracts
37G	Interest rate
14D	Internet Basis
34E	Internet Amount Currency
34E	Interest Amount
57a Settlement for Bought Leg	Settlement for Sold Leg
57a Settlement for Sold Leg	Settlement for Sold Leg
57a Account With Institution for Bought Leg	Account With Institution for Sold Leg
57a Account With Institution for Sold Leg	Account With Institution for Bought Leg
58a Beneficiary Institution Sold Leg	Branch BIC
22C	Common Reference
56A Intermediary Bought Leg	Intermediary Sold Leg
56A Intermediary Sold Leg	Intermediary Bought Leg

Party details is matched based on BIC code (Option A) only.

The list of contracts against a message in case of full/partial matches is stored and subsequently can be viewed from the “Manual Matching of Confirmation Messages” screen so that further manual action can be taken to complete the confirmation process.

While doing an auto matching system will match an incoming message with details of latest outgoing confirmation message details of a contract.