2004 Murex S.A. All rights reserved.

Introduction to Processing

MxG2000


Trade workflow is process deal follows from its insertion

into its final stage

Validation status can then be changed through validation

actions up to final stage

Upon insertion, validation status given to each deal

depending on features

Trade Workflow

FOS

FO

ERFO

FOS

Complex trade flow

FO

Simple trade flow

ERF2

BO

BO

Status

ERBO

BOS

BOS

Trade Flow

ERB2

Action

COM

COM


Can be applied as well to MOP, TEM and SI

Quick process of standard deals

Several validation queues for more complex deals

Different processes can be handled

Choice of initial validation status can be based on any

Murex data model field

Validation status may go back and forth depending on
the deal level of correctness

Rules must be very flexible

Trade Workflow Features

Processing / Trade workflow / Status Definition

Configurator session:

Validation status is identified by:

Name (four characters; stored at deal level)

Description

Level (used only for sorting purpose)

Validation Status

Processing / Trade workflow / Status rules

Configurator session:

Selects initial validation status upon deal insertion,

modification or validation, based on deal features.

Decision tree: filter conditions use deal features
and/or static data

Status Rule

Status Rules


Several status choosers can be defined in the

system, and applied at different stages of
workflow (insertion or validation).

Supervisor session: Groups/Workflows/Trade/Status Rule

If no condition is fulfilled, deal takes default

validation status defined at user group level

Status Rules

Filter condition for No standard SI

Type = OR Combination

SI Entry , which is a context field

Status Rules

Status Rules

Inserting
conditional lines
creates
expression
automatically

Processing / Trade workflow /

Action definition

Configurator session:

Changes current status of a deal to another one

Can move deal status to:

One destination status

n destination statuses (status chooser)

Can be:

Simple validation

ACK/NACK validation

Validation action

Validation Action

A comment can be added

(user definable field)

NACK not
mandatory

ACK is
mandatory

Validation Action - Simple

Makes comment field

mandatory on
ACK/NACK. Comment
field is user-definable

ACK: If deal is
OK, move deal to
ACK status.
--------------------NACK: If deal is
not OK, move
deal to NACK
status.

Validation Action - ACK/NACK


Group of validation actions

Serves to attach validation template to each group of
users, instead of individual validation actions

Validation template

Validation Template

Select all deals in

validation menu.
By batch, selects filter
from pre-defined list.
One by one, selects
deals individually from list
to be validated.
Dual keying
Filter, applies specific
pre-filter, defined by
Supervisor.

Prompt for filter before

accessing validation list.
Check consistency of
mandatory deal fields - as
defined in data consistency.
Default: if yes, all deals
already selected (checked off)
in validation list.
Security: indicates whether
password is required to
execute action.
Lock mode: Exclusive or
Simultaneous

Action can have different rights in each template

Specific rights can be defined for each validation action

within a template

Validation Template

There are two validation queues from BO to BOS

and from BOS to COM.

If User A checks deal from BO to BOS, he will not
be able to check it from BOS to COM.

Example

Deal cannot be checked twice by same user.

Fact that at least two different persons will check
each deal helps reduce potential errors.

Definition

4 eyes principle can be implemented.

Validation Template


BO_SGN might store name of last validator

User name in this case

Filter condition for 4-eyes principle CENV(LBL_USER)<>BO_SGN

CENV function retrieves contextual data

Validation Template


Four types of actions available, depending on

validation templates attached to user group:

Deals (Trade )

Market operations (Operation )

Trade events (Events )

Settlement instructions (Settlement
instruction )

Validation actions displayed in End-user session

under Processing/Trade workflow

Validations in Mx session


Count number of items affected by validation action

Selected number of deals selected in case of simple
actions or put in ACK in case of ACK/NACK actions

Refused number of deals put in NACK in case of
ACK/NACK actions

Deals grouped by Family/Group/Type

Validations in Mx Session


Drill-down facility on deal definition, non-financial

information, settlement instructions or other item
definitions

Destination status is dynamically shown

Comment field is automatically required if mandatory

Consistency management in case of deal modification
(shaded item)

Validations in Mx Session

Choice between: ACK, NACK or blank

Complex validation steps:

Simple validation steps:

Validations in MX Session

Example: user group

using BO transaction
right template can:
 access, modify, delete
deals at any status
level;
 perform MOPs at any
status level;
 process payments only
at APPR and CASH
statuses.

Name of Transaction Rights

template, NOT user group.

Transaction rights template

Set of rights on deals for each validation status

Rights include: Access, Deletion, Modification,
Market Operation or Payment Processing.

Attached to user group

Transaction Rights Template

group to which he belongs and logged in with.

Therefore, user inherits access rights from

Each user is attached to at least one group.

Transaction rights template

Validation template

Default validation status (deals, MOP, TEM, SI)

Status rules

Access rights for trade workflow defined at user

group level under Supervisor/Groups/Workflow:

User Group

Group: FO

Group: BO MGMT
Validation Template B

Validation Template A

Each user group can only have one set of status rules and validation
templates.

Each validation template assigned to one or many user groups.

Each status rule assigned to one or many user groups.

Status Rule B

Status Rule A

Group: BO

User Group

Deals, MOPs, and trade

events can have their own
templates

Default status when inserting

trade, trade events, and MOP

Attach status rule decision

tree to transaction, trade
event, and/or MOP

User Group

Transaction
rights
template is
attached to
user group

FOS

BO

BOS

COM

Define actions and validation templates for this workflow

Attach validation templates to corresponding groups

create two groups, one for front office and another for back office

If inserted deal is a future, status will automatically be BO. Otherwise, FO.

Access, Modify and Delete should be accessible in any statuses except
COM

At FO status, only CANCEL MOP can be performed. For other statuses, all
MOPs should be granted

Criteria

FO

Group Exercise

ERFO

FOS

BO
NACK

ERBO

BOS

COM

If deal is a future, status will automatically be BO. Otherwise, FO.

FO checks financial info. If financial errors are found, move deal to ERFO. From
ERFO, perform normal insertion process.
BO checks non-financial info. If non-financial errors are found, move deal to
ERBO
Access, Modify and Delete should be accessible in any status except COM
At FO status, only CANCEL MOP can be performed. For others, all MOPs should
be granted
When deal reaches status=COM, accounting entries and payment flows are
generated

Criteria

FO

ACK

Group Exercise

VALID#VAL_STA_DBF
VALID#VAL_ACT_DBF
VALID#VAL_RGT_DBF
VALID#FIL_VALH_DBF
VALID#FIL_VALT_DBF
VALID#FIL_VALB_DBF
VALID#FIL_VALD_DBF

Tables used:
used

Status list

List of user definable

actions

Validation filters - tree

definition

M_REF
M_TRE_GROUP
M_TRE_NAME
M_HEIGHT
M_LABEL

VALID#
FIL_VALT_DBF

Validation filters - main

screen

M_REF
M_GROUP
M_CLASS
M_FAMILY
M_LABEL

Validation filters - list

of expressions

M_REF
M_HEADER

VALID#
FIL_VALB_DBF

Group configuration

M_NAME
M_GROUP
M_FILTER
M_ALL
M_BATCH

VALID#
VAL_RGT_DBF

M_NAME
M_DESC
M_LEVEL

M_NAME
M_DESC
M_SOURCE
M_DEST

VALID#
FIL_VALH_DBF

VALID#
VAL_STA_DBF

VALID#
VAL_ACT_DBF

System Tables

Validation filters - list

of calculations

M_REF
M_CLASS
M_LABEL

VALID#
FIL_VALD_DBF

Main transactions table

(header)

M_NB
M_TRN_FMLY
M_TRN_GRP
M_TRN_TYPE
M_BPFOLIO
M_BSECTION
M_BENTITY
M_UPL_AMTDIS
M_IRV_TYPE
M_IRV_AMT
M_HEDGE_FLAG
M_VAL_STATUS
M_STL_GROUP
M_SI_CODE_VC
M_SI_CODE_VD
M_SI_CODE_NC
M_SI_CODE_ND

TRN_HDR_DBF

END