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The JPM
proposal seems to cover most requirements of how to describe the trade….
But the assumption is that the trade message is sent to a second party, who
needs to respond… thus…. [1] how
does one create / cancel a trade? [2] can
one amend the trade or is this done by cancel/correct? [3] is
there a tie between a cancel and the new trade message? [4]
midlife events: how does one close an open repo – does this require a
cancel/correct – or sending the original open with a ‘Forward Repo
Transaction Leg’ added? [5] what
are the expected responses to the trade messages? [6] how
are errors in the trade message handled? Thanks, Regards, John
Singler Jeff Stephens Danny
Moeller Helix
Financial Systems L.P. Cantor
Fitzgerald |