Euroclear Trade Capture and Matching System

"An automated matching and routing service for over-the-counter transactions with a Central Counterparty (CCP), which offers netting at both user and security eligibility level. In practice, the following occurs:
• instructions are entered by clients for matching purposes. If the instruction is deemed to be valid, it will be given a Euroclear reference ID and will enter the matching process; • once matched, instructions are sent to the CCP for netting;
• the CCP then undertakes a local validation process, whereupon the instruction is either registered when the trade is novated or rejected when the instruction does not meet all of the validation criteria."

Euroclear glossary. 2008.

Look at other dictionaries:

  • Euroclear Trade Capture and Matching System — ( ETCMS) Euroclear Clearing and Settlement glossary An automated matching and routing service for over the counter transactions with a Central Counterparty ( CCP), which offers netting at both user and security eligibility level. In practice, the …   Financial and business terms

  • ETCMS — See Euroclear Trade Capture and Matching System Euroclear Clearing and Settlement glossary …   Financial and business terms

  • ETCMS — See Euroclear Trade Capture and Matching System …   Euroclear glossary

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