elearning > Confirmations

  

Learn about the following:

What a confirmation is. The purpose of confirmations. The importance of accuracy in confirmations. How mistakes in confirmations can cost large sums. The issue of segregation and confirmations. Outstanding confirmations and escalation processes.

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Course Summary

Confirmations

• What a confirmation is
• The purpose of confirmations
• The importance of accuracy in confirmations
• How mistakes in confirmations can cost large sums
• The issue of segregation and confirmations
• Outstanding confirmations and escalation processes

30 Minutes

10 question multiple choice test

1. The confirmation process

• Trade capture
• Incoming and outgoing confirmations
• Why you check confirmations
• Auto-confirmations
• Unmatched confirmations, what you do
• Common trade errors made by dealers
• No dealer error
• Error log
• Counterparty error or trade dispute 

2. Costly mistakes

• Errors in confirmations
• Uncovering the error at a later date
• Cost of trade cancellation
• Impact on management

3. Segregation

• Why segregation applies to confirmations
• John Ruznak
• What he did with foreign exchange options
• How he interfered with confirmations
• The cost, $691m
• What we learn-segregation is a must

4. Outstanding confirmations

• Why this is a potential problem
• Regulatory sanctions
• How you reduce this risk using an escalation process
• Designing an appropriate escalation process for confirmations

5. Summary

6. Test