Process a Manual Trade

Owned by Tom Fahey (Unlicensed)
Last updated: Oct 03, 2016 by Former user (Deleted)
4 min read

The Book Trade tool allows you to process all types of security transactions. Cancels are processed using a separate tool. See the Cancel and Rebook Trade Tool page.

Access the Book Trade Tool

To open the Book Trade tool:

  1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
  2. Enter Book Trade in the Start Search text box.
  3. Click the Book Trade (Accounting Center) link to access the Book Trade tool.
    You see the Query window as the default. 
  4. Enter the following information in the Query window:
    –  Entity ID or Entity Name field for the account in which you want to process a transaction.
    –  Trade and Settlement Date field values default to the current system date. You can change these values in the Book Trade window or update the values on the trade panel.
    –  Book Trade tool defaults the Query Based On field to a value of XRef ID. You can change this value to a number of different options by clicking the icon at the right of the field. See the following figure. You can select any of the options to perform the query to select the security for which you want to process the transaction.
     
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Enter the Search Criteria

After selecting the value in the Query Based On field, enter the security identifier or a portion of it into the XRef ID field. In the following example, all that is known of the security identifier is that it begins with 1. After entering a value, click the Start Search button.

The system returns all securities that have a cross reference identifier that begins with a value of 1. You can refine/condense your search by entering a more specific security identifier and clicking the Start Search button again.

In the above figure, where the exact security identifier is entered, the Book Trade tool only returns the single security.

Select Transaction Activity

Once you have successfully queried for the security for which you want to process the transaction, right click the selected security. This opens a shortcut menu where you can select the specific transaction activity to process.

To select the transaction type to process, point to the appropriate shortcut menu option and then click the option you want.

The Book Trade tool opens the proper panel based on the transaction type selected as well as the processing security type, for example, the Book Trade tool does not open a fixed income buy panel for an equity security.

In the above figure, the Book Trade tool not only populates the trade panel with the details of the selected security, but also copies the data for the entity, trade date, and settlement date. You can change his data once the panel is displayed as needed.

Complete Transaction Activity

Complete the transaction by entering all the necessary trade details.

Each trade panel allows you to enter additional data elements that do not affect the accounting of the actual transaction. These data elements include:

  • Broker Name/Code. Required for every trade.
  • Settle Instructions. Can be used for additional trade instructions.
  • Settle Location. Physical Location of the Trade (NY, FED, Euroclear, and so on).
  • Transaction Notes. Free format field for additional trade notes.
  • Original Trade Ticket Number. Trade Identifier; although not a required field on the panel, the usage of this field is necessary if an automated trade workflow includes a trade cancel.

Validate Transaction Data

After all the applicable trade details are entered into the panel, you can click the Edit button. The panel performs a set of data checks to ensure that the details meet a basic set of standards. These basic checks include the following:

  • Settlement date cannot be before trade date
  • Trade date cannot be before issue date (for fixed income)
  • Price cannot be zero
  • Broker code missing

When the Edit button action processes, a results dialog box appears in the Book Trade tool.

The Book Trade tool displays both edit check errors and warnings. Errors (ERR) prevent a trade from processing, whereas a warning (WARN) still allows a trade to complete. You can click the Close button to exit out of the edit dialog box.

If the edit check results in any errors, you need to correct/add the required data before either clicking the Edit button again, or clicking the Submit button.

The Submit button first executes the same panel edit checks that are performed when clicking the Edit button. But in this case, if no errors are detected, the panel delivers the trade details to the processing engine which performs its own set of data checks before completing processing of the trade.

When the trade completes, the Book Trade tool display a Status dialog box similar to the one shown in the following figure. 

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