Both sides of the trade have to provide the following values in the Type of Financial Instrument field:
- CDEP - Certificate of Deposit (CD)
- CPAP - Commercial Paper
UI 3.0 Quick Trade Entry Screen - The next figure shows where to select CDEP or CPAP in the quick trade entry screen for block-level trades.
UI 3.0 Full Trade Entry Screen - The next figure shows where to supply CDEP and CPAP in the full trade entry screen for block-level trades.
UI 4.0 Create Block Screen - The next figure shows where to supply CDEP and CPAP in the create block screen.
Investment managers and broker/dealers submit CDEP or CPAP in the TradeLevelInformation composite of the TradeLevel and TradeDetail message.
The bold value in the following partial TradeLevel shows where, as an example, you designate a CD.
Yes. You can process trade exceptions using the CTM service for CDs and commercial paper trades as you do for all othe trades.
Yes. The CTM service provides CD and commercial paper security cross-referencing where one counterparty represents as a SEDOL and the other as an ISIN. If the underlying security is the same, the CTM service matches on the field.
The security identifier is not always available in the cross-reference database. In this case, both counterparties must provide the same explicit instrument code and type for the trade to pair/match
In other words, for investment managers, your options are as follows:
- Wait to receive your broker/dealer's alleged trade
- Book a trade using the matching code
- Amend the trade later in its lifecycle to match on the security code provided by your counterparty