Safe Financials - Home of the CREST Simulator

Status Changes

Dependant on how your participant is set up for netting and automatic matching (direct input) will cause implications for status changes.

The level at which your participant is configured for auto matching determines which statuses are returned. Generally, if a participant enters into automatic matching they will receive fewer statuses.

Settlement Participants

Transaction status scenarios

Option 1 – No change, as per a normal transaction lifecycle

Option 2 – Gross transactions must be matched before netted. CCC status returned. On creation of the net an alleged status will be returned for the net which you are required to match. Net transaction will follow normal life cycle.

Option 3 – Gross transactions must be matched before netted. CCC status returned. No allegement statuses returned for the netted transaction. First status for net will be matched (IIB, IIE, IID). Net will follow normal life cycle.

Option 4 – First status received is matched (IIB), normal lifecycle resumed. No net statuses returned.

Option 5 – No statuses for the gross transactions. Allegation statuses returned for the net which will need to be matched.

Option 6 – No statuses for the gross transactions, for the net transactions the first status received is matched (IIB, IIE or IID)

For the above possible six scenarios the below statuses are returned to Settlement Participants for the gross transactions:

For the above six scenarios the below statuses are returned to Settlement Participants for net transactions:

Clearing members will receive status changes on both the gross and net transactions. This will depend on whether the transactions are automatically matched. Clearing members will only receive allegement statuses for the CCP's input.

Option 2 - Allegement statuses for the gross transactions, once matched netted status (CCC) returned. Allegement status for the net. The net will then follow normal life cycle.

Option 3 - Allegement statuses for the gross transactions, once matched netted status (CCC) returned. No allegement statuses of the netted transaction, first status will be a matched staus (IIB, IIE or IID). The net will then follow the normal life cycle.

Option 4 - The first status the clearing member will receive on the gross will be a matched status. Then follow the normal life cycle. No net statuses returned.

Option 5 - The first status the clearing member will receive on the gross will be a matched status, once matched netted status (CCC) returned. On creation of the net the clearing member will receive an allegement status for the net transaction. The netted transaction will then follow the normal life cycle.

Option 6 - The first status the clearing member will receive on the gross will be a matched status, once matched netted status (CCC) returned. On creation of the net transaction clearing members will not receive allegement statuses, the first ststus on the net will be a matched status. The netted transaction will then follow the normal life cycle.

For the above six scenarios Clearing Members will typically receive the following statuses for gross transactions:

For the above six scenarios Clearing Members will typically receive the following statuses for net transactions: