Testing explained

Settlement netting and Direct Input testing is simple using the Simulator. Some of the benefits of testing your Settlement Netting processing using the Simulator include:

• Net creation intra-day so no need to wait until end of day processing
  
  
• Quick Participant configuration
  
  
• Easy upload via excel spreadsheet
  
  
• High volumes easily loaded
  
  
• Test LCH, CHI-X, Turquoise, NASDAQ OMX and BATs systems trades

The easiest way to create multiple gross trades within the Simulator is to fill out a proforma (excel spreadsheet) with details of the gross trades and email back to us. We can load these into the Simulator within a couple of minutes. Depending on your configuration these can then be manually matched, auto matched, netted and so on.

To download the SETS proforma please click here.

From the Proforma you can specify which CCP ID you wish to use. Available options are:

• LCH01 - SETS
• CCPIE - ISE Xetra
• EUCCP - Turquoise
• FORTB - Chi-X, Nasdaq OMX or BATs

We are able to fully configure your Participant with all CCP details, i.e:

• Settlement Firm ID
• TSO Participant ID
• TSO Dealing Capacity
• House/Client Indicator
• Member Account
• Central Sponsor ID
• Clearing Member ID
• Trade System of Origin

 

Simple testing scenarios for the six set up options

Option 1 - No settlement netting or direct input occurs with this option.

Option 2 - Fill out the profoma with details of gross transactions. We will then load these into the Simulator. You will then be required to manually match these gross transactions (they will be alleged to you). Once matched we can run the netting process intra day at your request to create the net transaction or alternatively we can let the process run automatically overnight. Once the net is created you are required to match it.

Option 3 - Fill out the profoma with details of gross transactions. We will then load these into the Simulator. You will then be required to manually match these gross transactions (they will be alleged to you). Once matched we can run the netting process intra day at your request to create the net transaction or alternatively we can let the process run automatically overnight. Once the net is created the first status you will receive will be the matched status. No allegement status will be sent to you.

Option 4 - Fill out the profoma with details of gross transactions. We will then load these into the Simulator and automatching will take place. The first status you will receive with be a matched status. No netting will take place.

Option 5 - Fill out the profoma with details of gross transactions. We will then load these into the Simulator and automatching will take place. The gross transactions will then be netted. You will be required to manually match the net transaction.

Option 6 - Fill out the profoma with details of gross transactions. We will then load these into the Simulator and automatching will take place. The gross transactions will then be netted. The net transactions will also be automatched. No maual matching is required throughout the whole process.

If you have any queries regarding your settlement netting testing or would just like an overview of how we can assist you then please do not hesitate to contact us. Email the Support Desk or call.