Reconciliation is the attempt to harmonize differing data sets to arrive at the most accurate version of trade history. This activity is the principal way in which firms attempt to meet their responsibility for the accuracy and veracity of the trades reported to regulators.

Portfolio Reconciliation is the standard reconciliation between the data sets held by a firm (its Books & Records) and those held by GTR. This is done by a firm, not GTR. The two functions of portfolio reconciliation are to ensure that the data in the trade repository matches the information in the firm’s books and records and, therefore, also matches the firm’s expected reporting to regulators.

Inter-TR Reconciliation is an additional process that is required under ESMA (Europe) only. The need for this additional reconciliation arises from the ability of trades to be reported at multiple TRs and the requirement for dual-sided reporting. Unlike Portfolio Reconciliation, this is a process that GTR attempts. However, because this happens after the data submission has already passed ingestion (and is therefore ‘clean’), any errors that are revealed at this stage are not of a type that GTR can fix i.e. they must be addressed by the counterparties. Examples are: correct LEI format but the LEI has expired; correct value format ($1,000) but a different value from that reported by the counterparty ($10,000).

This is a duplicate of the GTR/HKMA Reconciliation Workshop conducted on 14-June-2016 in Hong Kong, and 1-July-2016 in...

Category: Reconciliation Tools
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In this webcast we will : Explain how Intra-TR & Inter-TR transactions are reconciled Explain the pairing...

Category: Reconciliation Tools
Views: 165

Category: Reconciliation Tools
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