ClearGate™
ClearGate™ delivers across-the-firewall automation of OTC derivatives transaction processing by using a participant neutral, industry agreed FpML specification of the correct message exchanges for each transactional activity.
ClearGate™ identifies the “context” of each message based on where the participant instance is with respect to the WS-CDL described process. For example, ClearGate™ will identify the message type ("New Trade") and marry it to the appropriate activity (“Confirm New Trade”) and the role (“Alleger”). From this context, the receiving gateway is able to identify its role – “Acceptor” in this example. As both the sending and receiving gateways are using the same description of the business process, there is no ambiguity as to the required response (reject, unconfirmed, alleged, confirmed) or the order in which messages need to be exchanged between the gateways.
ClearGate™ continuously monitors the messages exchange to ensure continuous overall compliance with the described process. This enables any out-of-sequence messages to be rapidly identified and delivers significantly improvements to transaction exception management.
ClearGate™ contains the required functionality needed to process the complete spectrum of OTC derivatives trading activities including:
- indications of interest
- transaction execution
- matchings & affirmations
- transaction status enquiry
- allocations
- confirmations
- amendments & corrections
- valuations & reporting
- novations
- increases
- cash flow matching
- collateral matching
- payment netting
- partial and full terminations
- transaction maturity
ClearGate™ is able to be integrated and commissioned within 10 business days and comes with a range of “out-of-the-box” features including:
- roll-back / roll-forward functionality
- persistence and fail over capabilities
- version control
- standard interfaces to all commonly used messaging platforms
- development toolkit
