This website sets cookies on your device. By continuing to use our site, you consent to our use of cookies in accordance with our Privacy Policy.
Menu Learning Center
0.00 ( 0 votes )

TD L2 Settlement Instructions Matching Fields option supports matching on a subset of SSI fields provided by the investment manager (InstructingParty), where PartyIdentifier is not provided or is equal to INST. Also referred to as dual SSIs, the executing broker (ExecutingBroker), where PartyIdentifier=INST, supplies the same SSIs as those provided by the investment manager.

The below table lists the settlement instruction fields and conditions that you can use for the TD L2 Settlement Instructions Matching Fields option in your L2 matching profile:

MMP Tool Name

XML Field Name (where PartySettlement/PartyIdentifier is INST or is not provided)

User Interface (UI) Field Name

DBT EQU Tolerance Options
PSET

XML: PartySettlement/SettlementInstructions/PSET

UI: PSET

Yes Yes EXCT, NUFM
ID2

XML: PartySettlement/SettlementInstructions/ID2

UI: ID2

Yes Yes EXCT, NUFM
ID3

XML: PartySettlement/SettlementInstructions/ID3

UI: ID3

Yes Yes EXCT, NUFM
AgentID

XML: PartySettlement/SettlementInstructions/AgentID

UI: AgentID

Yes Yes EXCT, NUFM
INSTorBrokerID

XML: PartySettlement/SettlementInstructions/INSTorBrokerID

UI: INSTorBrokerID

Yes Yes EXCT, NUFM
Sub Account No

XML: PartySettlement/SettlementInstructions/SubAccountNo

UI: A/C @ Local Agent

Yes Yes EXCT, NUFM
SecurityAccount

XML: PartySettlement/SettlementInstructions/SecurityAccount

UI: A/C @ Global Custodian

Yes Yes EXCT, NUFM

 

An InstructingParty cannot set an L2 matching profile to match on both PSET and TD L2 Settlement Instructions Matching Fields because they are mutually exclusive.

There are conditional matching scenarios associated with the TD L2 Settlement Instructions Matching Fields as follows:

  • Assume the InstructingParty has the TD L2 Settlement Instructions Matching Fields in the matching profile for the trade. When the ExecutingBroker provided BrokerCustodyIndicator of Y, the CTM platform does not perform matching on any of the seven fields in the TD L2 Settlement Instructions Matching Fields group. The CTM platform assigns those fields a FieldLevelMatchStatus of "SIBC-Settlement Instructions-Not applied for matching due to EB's BrokerCustodyIndicator of Y."
  • Similar to the TDPSET field matching implementation, matching on PSET as part of TD L2 Settlement Instructions Matching Fields support cross-settlement channel matching. For a list of matching values, click here
  • Assume the InstructingParty has the TD L2 Settlement Instructions Matching Fields in the matching profile for the trade. When the ExecutingBroker did not provide BrokerCustodyIndicator value or provided a value of N, the CTM platform does the following:
InstructingParty PSET   CTM matches the fields as follows CTM assigns FieldLevelMatch status as follows
ID2 and ID3  AgentID and INSTorBrokerID SubAccountNo and SecurityAccount
FRNYUS33 Excluded from matching Included in matching Included in matching

ID2 and ID3

SINA-Settlement instructions-Not applied for matching

Provided and ≠ FRNYUS33 Included in matching Excluded from matching Included in matching

AgentID and INSTorBrokerID

SINA-Settlement instructions-Not applied for matching

Not provided Included in matching Excluded from matching Excluded from matching

AgentID, INSTorBrokerID, SubAccountNo and SecurityAccount

SINA-Settlement instructions-Not applied for matching

 

  • When the InstructingParty provided a value for PSET, the CTM platform applies cross-field L2 matching on the SubAccountNo and SecurityAccount fields as follows:
    • When the InstrucingParty providedSubAccountNoSubAccountNo is used for matching. The CTM platform does not use the SecurityAccount of the ExecutingBroker for matching
      • If the ExecutingBroker providedSubAccountNo, the SubAccountNo of the ExecutingBroker is used for matching. The CTM platform does not use the SecurityAccount of the ExecutingBroker for matching
      • If the ExecutingBroker did not provide SubAccountNo, but did provide SecurityAccount, then the SecurityAccount of the ExecutingBroker is used for matching - not the SubAccountNo of the ExecutingBroker
    • When the InstructingParty did not provide SubAccountNo, and if the InstructingParty did provide SecurityAccount, the SecurityAccount of the InstructingParty is used for matching. The CTM platform does not use the SubAccountNo of the InstructingParty for matching.
      • If the ExecutingBroker provided a SubAccountNo, the SubAccountNo of the ExecutingBroker is used for matching. The CTM platform does not use the SecurityAccount of the ExecutingBroker for matching
      • If the ExecutingBroker did not provide SubAccountNo, but did provide SecurityAccount, then the SecurityAccount of the ExecutingBroker is used for matching - not the SubAccountNo of the ExecutingBroker
  • The FieldLevelMatchStatus values of XMCH-Cross matched across SubAcountNo and SecurityAccount fields and XMSM-Cross mismatched across SubAccountNo and SecurityAccount fields communicate cross field matching and mismatching of the SubAccountNo and SecurityAccount fields.

 

 

Recommended for You