Business transactionsUpdated 9 June 2009
Securities pre-trade, trade and post-trade
The pre-trade, trade and post-trade standards of the securities transaction chain serve the first stages of the securities life cycle and cover activities from the indication of interest to the trade confirmation affirmation.
MT messages are currently available for parts of the pre-trade and trade area and for the full post-trade space. The diagram above presents the client-side MT messages. Equivalent MT messages exist for the market-side activities.
An ISO 20022 Pre- Trade/ Trade business model is currently under development. The project was initiated in cooperation with the FIX Protocol organisation under the umbrella of ISO 20022 and covers securities pre-trade and trade processes between the trading parties.
An ISO 20022 Post-Trade business model is currently under development in cooperation with a number of stakeholder organisations. The project looks to cover client-side and market-side messaging for the post trade process(es) within the overall ISO 20022 business model.
Once completed, the business models will support multiple syntaxes and thus will facilitate interoperability and convergence between front and back office systems by linking the pre-trade and trade business areas with the post-trade and settlement business areas.
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