Set up Deal matching (Finastra, FXAll and CLS)

Created by Erik Åkerlund, Modified on Fri, 09 Feb 2024 at 11:17 AM by Catharina Hansson

It is possible to automatically send FX and Short Term Loan deals to a third party for matching and also receive the matching status back in TS to confirm the deal automatically. This would replace the manual step to check and confirm the deal by a Back office person.   



Set up deal matching rules

Open Settings / Matching rules 


Finastra and FXAll settlement center

  1. Add a new rule by clicking + sign
  2. Make a selection for all deal you want to send for deal matching usually based on counterparties
  3. Choose To be sent as matching status
  4. Deal matching source select you deal matching center.


Nordea CLS

CLS does not support same day value FX deal if a deal has maturity today it will not get Deal matching status To be sent status.

  1. Add a new rule by clicking + sign
  2. Make a selection for all deal you want to send for deal matching usually based on counterparties. CLS only support 18 currencies these needs to be selected and also the currency type Base and Price currency
  3. Choose To be sent as matching status
  4. Deal matching source, select you deal matching center CLS.

 


Enter a deal

When a trader is entering a new FX deal or short term loan that fits the selection made in Matching rules the new deal will automatically get To be sent . It is still possible to change the deal in this status. When the deal is sent to a deal matching center the deal will get status Sent for matching and the transaction will be Locked. It will not be possible for the trader to make any changes. Unless the deal is unlocked. 



Confirm ledger

Add the report column Matching status to see which deals has been sent for automatic matching. 

It is NOT possible to confirm a deal manually when the deal matching status is To be sent or Sent for matching. To manually confirm such deal you need to change the deal matching status to matched. 

FXAll and Finastra will only send message to us if the deal are matched if the deal is not matched they will be stuck in Confirm with status sent for matching and you need to log into FXAll settlement center to find out why the deal has not been matched. 


Also see article Change deal matching status manually



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