Process a Manual Trade
- Copy Page Tree (Unlicensed)
- Nancy Cohn (Deactivated)
- Former user (Deleted)
In the Book Trade tool, you can process a manual trade.
To process a manual trade:
In Accounting Center, in the left navigation pane, click Transactions > Trades > Book Trade/Rebook Trade > Book Trade.Â
You see the Book Trade workspace.In the Search Details pane, select your search criteria.
In the results grid, click a security.
Do one of the following to select the transaction activity:
- On the Book Trade tab, in the Actions group, click Action Rules, point to the transaction type, and then click the transaction.
- Right-click the security row, point to the transaction type, and then click the transaction.Complete the information in the transaction entry panel.
On the Form tab, in the Validation group, click Validate and validate the transaction data.
Click Submit to submit the transaction for processing.
The following sections illustrate this process.
Enter the Search Criteria
In this example, you enter an account in the Entity ID field and you enter a security identifier into the XRef ID field in the Search Details pane. You can also enter a portion of that value. You click the 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 Search button again.
In the previous figure, where you enter the exact security identifier, the Book Trade tool only returns the single security.
Select Transaction Activity
After you successfully query 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. You can also access these options by clicking Action Rules in the ribbon.Â
To select the transaction type to process, point to the appropriate shortcut menu option, and then click the option you want. For example, point to Open, and then click Buy.
The Book Trade tool opens the proper panel based on the transaction type selected as well as the security's processing security type. For example, the Book Trade tool does not open a fixed income buy panel for an equity security.
In the previous 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 this 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 you enter all the applicable trade details into the panel, you can click Validate in the Form tab. 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 Validate action processes, a results pane appears at the top of the transaction entry panel.
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 up arrow to collapse the Validate results pane.
If the edit check results in any errors, you need to correct/add the required data before either clicking Validate again, or clicking Submit.
The Submit button first executes the same panel edit checks that are performed when clicking Validate. 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.Â
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