RECONCILIATION

What is Reconciliation?

Recon is the control process by which 2 or more sets of data are compared & any discrepancies are investigated & documented through to resolution, Including formal reporting & escalation. Recon of position & trades within internal books & records with the outside world is of utmost importance in ensuring that any bank remains in control of its asset & liabilities.


Where all we do recon in TLC?

In Validation Stage: Trade, Trader & CP check,

In affirmation stage: Check all the details with CP (Economic details)

In verification stage: Check with trade sheet & RMS/OMS.

Types of Reconciliation:

External Recon:

Counterparty Recon: Checking with the CP with all the details.

Exchange Recon: Exchange recon is done with the details of exchange data to check that the trade executed & booked.

Custodian Recon: Recon is done with custodian (Position & Cash) whether the position match is called "Depot Recon" & cash recon with you're a/c & Custodian A/c.



Internal Recon: [FO-MO-BO]

Trade Recon: All the FO-MO-BO should have the numbers of trade done.

Position Recon: Check all the position held are same in FO-MO- BO.

Cash Recon: MO always has a cash projection for a week for the trading desk & it check the cash bit in all three FO-MO-BO.



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