Cancel a Single Trade or Batch of Trades

Owned by Copy Page Tree (Unlicensed)
Last updated: Jul 20, 2023 by Nancy Cohn (Deactivated)
5 min read

You can cancel a single trade using the Cancel Trade panel or can cancel a batch of trades for one or more entities and securities using the Batch Cancel Trade panel. You can also use the Cancel & Rebook Trade tool to search for a trade that has already been processed and not only cancel the trade but rebook the transaction.

Cancel Single Trades

In the Cancel Trade panel, you can cancel a single trade. If you track pending transaction activity, be aware that you can set up pending trade rules that determine how the system handles automated and manual trade cancellations within the pending trades workflow. 

To cancel a single trade:

  1. In the Accounting Center, in the left navigation pane, click Transactions > Trades > Cancel Trade > Cancel Trade.
    You see the Cancel Trade panel.

  2. Complete the options on the Cancel Trade panel. 
    This panel is not security type specific. For example, you can use it to cancel equity, fixed income, and forward currency trades. It contains three main lookups:
    –  Entity Lookup. Specifies the entity using the Entity ID or Entity Name fields.
    –  Security Lookup. Specifies the Issuer Name/Xref ID/Ticker, Target Event ID, and Target Trade Ticket Number to search for a security. The lookup only returns securities held by the entity.
    –  Trade Lookup. Displays all trades booked for the security you selected via the security lookup in the Choose Trade to Cancel field. Select the trade you want to cancel. You can modify the Account Date. If you cancel a settled trade, the system automatically cancels the settlement of that trade using the Rollback and Replay process.

  3. Click Submit.

Cancel Trade Panel Options

The following are the options in the Cancel Trade panel. 

Option

Tag

Description

Option

Tag

Description

Entity Information

 

 

Entity ID

1163

Specifies the unique identifier of the entity.

Entity Name

1164

Specifies the name of the entity.

Base Currency

86

Displays the base currency of the entity.

Accounting Basis

21

Specifies the primary accounting basis for the entity. Options include:

  • GAAP. The system is set up in accordance with Generally Accepted Accounting Principles. This is the most common basis.

  • IFRS. The system is set up in accordance with International Financial Reporting Standards (IFRS).

  • STAT. The system is set up for use with statutory insurance.

  • USTAX. Default. The system is set up in accordance with domestic tax regulations.

Clearing Broker

1236

Specifies the name of the clearing broker associated with the trades you want to cancel. This field appears when you select an entity that uses cash segregation and derivative segregation. When you segregate derivatives, the system uses the clearing broker for segregation purposes. The lookup allows you to select clearing brokers associated with bank account relationships that have a relationship type of Entity & Clearing Broker Relationship. 

Clearing Broker Code

1237

Specifies the code for the clearing broker. This field appears when you select an entity that uses cash segregation and derivative segregation.

Issue Information

 

 

Cancel Trade By

1256

Specifies the security identifier for the trade you want to cancel. Additional options are displayed based on your selection. Options include:

  • Issuer Name/Ticker/Xref ID

  • Target Event ID

  • Target Trade Ticket Number

Event Type

55

Displays the business intent of the event. For example, CANCEL.

Begin Date

220

Defines the begin date.

End Date

221

Defines the end date.

Long/Short Indicator

15

Indicates whether a position is long or short.

Xref Type

1234

Specifies the cross reference type associated with the security.

Issue Name

961

Specifies the name of the security.

Ticker 

13

Specifies the trade ticker of the security.

Instrument Type

11

Displays the type of instrument.

Security Type

82

Displays the type of security.

Processing Security Type

3931

Displays the processing security type.

Issue Currency

85

Displays the local currency of the security.

Target Event ID

26

Specifies the target event ID type. This field appears if you set Cancel Trade By to Target Event ID.

Target Trade Ticket Number

762

Specifies the trade ticket identification number of the target trade.

Cancel Trade Detail Information

 

 

Choose Trade to Cancel

962

Identifies the trade that you want to cancel. The lookup displays all trades booked for the security.

Cancel Effective Date

35

Displays the cancel effective date.

Cancel Accounting Date

36

Specifies the cancel accounting date.

Cancel Monthly Accounting Date

4733

Displays the cancel monthly accounting date.

Settlement Dt

37

Displays the settlement date.

Original Accounting Date

7560

Displays the original accounting date.

Original Monthly Accounting Date

7561

Displays the original monthly accounting date.

Target Event Type

502

Displays the target event type.

Quantity

40

Displays the quantity.

Price

45

Displays the price.

Local Net Amount

50

Displays the local net amount.

Target Event ID

26

Displays the target event ID.

Other Information

 

 

Transaction Notes

56

Specifies notes about the transaction.

Ex-Interest Coupon Recognition Date

16311

Displays the Ex-Interest Coupon Recognition Date value for the entity related to the trade you are cancelling to indicate whether the system can create coupons posted on ex-date rather than on coupon day for the entity. For more information, see About Ex Interest Processing.

Cancel a Batch of Trades

In the Batch Cancel Trade panel, you can cancel a batch of trades for one or more entities and/or securities.

To cancel a batch of trades:

  1. In the Accounting Center, in the left navigation pane, click Transactions > Trades > Cancel Trades > Batch Cancel Trade.
    You see the Batch Cancel Trade panel.

  2. Complete the options on the Batch Cancel Trade panel.

  3. Click Submit.

Batch Cancel Trade Panel Options

The following are the options in the Batch Cancel Trade panel. 

Option

Tag

Description

Option

Tag

Description

Date Range

 

 

Date Range Based On

1257

Specifies the date type. Options include:

  • Trade Date (Default)

  • Post Date

  • Accounting Date

  • Settlement Date

Start Date

220

Defines the start date.

End Date

221

Defines the end date.

Entity Information

 

 

Entity ID

1163

Specifies the identifier of the entity.

Entity Name

1164

Specifies the name of the entity.

Custody Bank/Clearing Broker

1146

Specifies the name of the custodian bank or the name of the clearing broker associated with derivative trades you want to cancel. This field appears when you select an entity that uses cash segregation and derivative segregation. The field lookup allows you to select a bank account relationship that applies to the selected entity. You can select a bank account relationship for a custody bank or for a clearing broker. When you select a bank account relationship, the system displays related values for the Custody Bank/Clearing Broker Code and the Custody Bank/Clearing Broker Account Number fields.

Custody Bank/Clearing Broker Code

1240

if you select a bank account relationship that applies to a custody bank, this field displays the code value, or short name, used to identify the custodian bank holding the assets. Otherwise, if you select a bank account relationship that applies to a clearing broker, this field displays the code value, or short name, used to identify the clearing broker. This field appears if you select an entity that uses cash segregation and derivatives segregation. 

Custody Bank/Clearing Broker Account Number

1660

if you select a bank account relationship that applies to a custody bank, this field displays the custodian bank account number for the entity that is held in custody. Otherwise, if you select a bank account relationship that applies to a clearing broker, this field displays the clearing broker account number. This field appears if you select an entity that uses cash segregation and derivatives segregation.

Issue Information

 

 

Long/Short Indicator

16

Indicates whether the position is long or short.Options include Long and Short.

Xref Type

1234

Specifies the security identifier type.

Issue Name

961

Specifies the issue name.

Ticker

13

Specifies the ticker.

Xref ID

1233

Specifies the security identifier.

Batch Information

 

 

Choose Trade to Cancel

962

Displays all trades booked for the security.

Batch Identifier

701

Specifies the batch identifier. This optional field must be supplied by the client.

Processing Security Type

3931

Displays the processing security type (PST).

Level of Batch Cancel

1256

Determines the processing of batch cancels. Options include:

  • Entity Level. Cancels all transactions within a specific entity with the selected Batch Identifier field value.

  • Entity and Security Level. Cancels all transactions for an entity and security combination that have the selected Batch Identifier field value. This option allows you to cancel a specific trade that was processed as part of a batch transaction.

  • Security Level. Cancels all transactions within a specific security that have the selected Batch Identifier field value.

  • All Entities/All Securities. Cancels all transactions that have the selected batch identifier. This cancels transactions across all securities and all entities with that Batch Identifier field value.

Target Trade Ticket Number

762

Displays the target trade ticket number.

Trade Date

35

Displays the trade date.

Batchcancel Accounting Date

36

Specifies the batch cancel accounting date.

Batchcancel Monthly Accounting Date

4733

Displays the batch cancel monthly accounting date.

Original Accounting Date

7560

Displays the original accounting date.

Original Monthly Accounting Date

7561

Displays the original monthly accounting date.

Broker Name

1235

Displays the broker name.

Broker Code

88

Displays the broker code.

Ex-Interest Coupon Recognition Date

16311

Displays the Ex-Interest Coupon Recognition Date value for the entity related to the trades you are cancelling to indicate whether the system can create coupons posted on ex-date rather than on coupon day for the entity. For more information, see About Ex Interest Processing.

Transaction Notes

56

Specifies notes about the transaction.

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