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L2 Matching FAQs

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Level 2 (L2) matching ensures that selected fields, such as trade amounts and broker commissions, are within the tolerance the investment manager has specified. L2 matching enables investment managers to customize the matching process to meet their business needs. They select the fields to match from the list of eligible L2 matching fields and decide the matching rules and tolerances for each field.

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All matching profiles are created and maintained using the Maintain Matching Profiles (MMP) tool available in the CTM Client-Facing Dashboard, which you can access using the following links:

For more information on using the Dashboard and view instructional videos, visit CTM Client-Facing Dashboard

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No. There are three types of matching profiles available for use:

1. Named matching profiles are the most flexible because they are based on criteria you design, such as counterparty, settlement location and security type.

2. Currency-specific matching profiles indicate rules and tolerances for specific currencies.

3. Default matching profiles are required for each asset class.

 

The CTM platform will select the matching profile to apply according to the following rules of precedence:

1. Named matching profiles (this must be specified in the L2MatchingProfileName field)

2. Currency-specific profiles

3. Default matching profiles

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Yes. In order to match trades through the CTM platform you need to have at least one default matching profile for each asset class you trade in. You create and update profiles using the Maintain Matching Profiles (MMP) tool available in the CTM Client-Facing Dashboard. For more information, visit CTM Client-Facing Dashboard.

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No. The value specified in the minimum/maximum specification remains static. DTCC recommends that you update your matching profiles on a regular basis to reflect currency movement.