The role and value of an Affirmed TradeSuite ID Confirm is unchanged regardless of whether the US trade goes over CTM or OASYS-TradeMatch (OTM). DTCC promotes the value of an Affirmed Confirm as a best practice to leverage the Continuous Net Settlement process (CNS), ID Net, and Predetermined Quantity (PDQ) at the DTCC. OTM clients who move from OASYS to CTM will have their allocations drop automatically from CTM to TradeSuite ID to maintain the automatic matching and Confirm Affirmation process in place today. As clients move from OASYS to CTM we are working to ensure that a client’s affirmation rate is maintained or improved.
A CTM confirm is a legal binding agreement. A match over OASYS requires affirming via DTC. Is affirmation still required once we migrate our US trades to CTM?
- Category: US Trades on CTM - IM FAQs