Market Participants should confirm trades as soon as practicable, and in a secure and efficient manner. (PRINCIPLE 46)
A Client executes a transaction in spot USD/JPY on a single-bank platform and is immediately provided with a trade confirmation via the bank’s platform. After having checked the trade details received from the bank, the Client is able to immediately send a confirmation message for the trade to the bank.
Market Participants should confirm trades as soon as possible, and in a secure and efficient manner. In this example, the bank’s straight-through-processing and initiation of the confirmation process results in the Client being able to send a corresponding confirmation message within a short time frame.
A local Market Participant executes an FX transaction with its parent entity via phone. Both the local entity and its parent confirm the deal directly via a common secured electronic platform.
Market Participants should confirm trades as soon as possible, and in a
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