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CTM Matching

Question / Problem: 

How does CTM Matching work?

Answer / Solution: 

The CTM platform uses a 2-level matching process to match both block (TradeLevel) and allocation (TradeDetail) messages.

  • Level 1 (L1) pairing identifies the basic core financials of the trade and all L1 components must pair before proceeding to L2 matching.
  • Level 2 (L2) matching ensures that selected fields meet the matching requirements of the investment manager.

All L1 components must pair before proceeding to L2 matching.  

Level 1 Pairing Fields (Block Level)

Security Code

Buy\Sell Indicator

Block Quantity

Executing Broker

Instructing Party

Trade Date

Price (Optional)

Level 1 Pairing Fields (Allocation Level)

Account ID

What is L2 matching?

Level 2 (L2) matching ensures that selected fields, such as trade amounts and broker commissions, are within the tolerance the investment manager has specified. L2 matching enables investment managers to customize the matching process to meet their business needs. They select the fields to match from the list of eligible L2 matching fields and decide the matching rules and tolerances for each field.

Applies to:  

Product Version
Optitrade Confirm 5.3+

 

Author: Shivani Gupta

 

 

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