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Trade Management in Stock Market

Posted by NIFM
A Trade is an activity in which a buy and sell order match with each other. Matching of two orders is done automatically by the system. Whenever a trade takes place, the system sends a trade confirmation message to each of the users involved in the trade. The trade confirmation slip gets printed at the trader workstation of the user with a unique trade number. The system also broadcasts a message to the entire market through the ticker window displaying the details of the trade. Before the trade is effected, the system performs checks with respect to the following parameters: ·        The security in which the trade is to be effected is not suspended form operations. ·        Trading members involved in the potential trade or not suspended from operations. Once the trade for an order entered is confirmed by the system, a message is sent to the trader workstation. The System generates a trade confirmation slip that is on the printer of the trader workstation. The user can use trade cancellation screen for canceling trades done during the day. If the user is a corporate manager of trading member firm, he can request for trade cancellation for the trades of any dealer of the trading members firm and if a branch manager of a branch, then he can request for trade cancellation for the trades of any  dealer of the branch of the trading member firm. The user can request for trade cancellation either from the previous trades screen or by using the function key provided in the workstation. The trade cancellation request is sent to the exchange for approval and message to that effect is displayed in the message window. The counterparty to the trade also receives the message. The counterparty then has to make similar request on the same trading day. Once both the parties to trade send the trade cancellation request, the exchange either approves or rejects it. When a request for the trade cancellation is approved by the exchange, the parties to trade receive a system message confirming the trade cancellation an the trade cancellation slip is printed at their respective trader workstation. If the exchange rejects the trade cancellation request, the trade cancellation rejection slip is printed at their respective trader workstation

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