When an Investment Manager uses a BRMG with more than one BIC, Brokers can only view trades when they are matched or mismatched. Without visibility into unmatched blocks, Brokers are not able to proactively address STP breaks. Instead, such breaks require manual intervention and communication outside of CTM thus slowing trade confirmation and introducing risk.
Why should an Investment Manger be concerned about a lack of block transparency?
- Category: US Trades on CTM - View Only Broker FAQs