Inferno – Confirmation

An important part of the trade lifecycle is confirming your trades with the counterparty.  This confirmation can take many forms including electronic affirmations, client confirmations or simply confirmations using the SWIFT network.  Inferno handles all of these.

Torstone have implemented the interface to Omgeo’s CTM product which allows seamless transfer of data between the two systems.

For FX and money market trades, Inferno will automatically send ISO15022 confirmations over the SWIFT network – including MT300s and MT320s.  Cash instructions can be held up until the confirmation has been matched with the equivalent confirmation sent by the counterparty.

For client trades, Inferno can send paper, e-mail or fax confirmations in a variety of formats.  Multiple trades can be included in one confirmation, and a single confirmation can be automatically sent to multiple addresses.

Regardless of the format or method of delivery, any delivery failures will hit a single exception queue in Inferno which is presented to users via a dedicated Confirmation Exception tool.  This allows you to view all failure messages in one place and to resend confirmations once the problem has been corrected.

For OTC derivatives, things are a little different – ISDA confirmations are, by their nature, complicated and long documents.  Tracking the progress of each ISDA Confirmation through the review and signing process, and having tools that clearly show you the value and age of the trades where confirmations have not yet been signed, are vital functions of any derivative trading organization.

Inferno provides a fully featured document tracking workflow system for OTC derivatives, ensuring that all appropriate trades are captured and that documents go through the appropriate signing process.  Electronic signatures are possible, and all versions of all documents are stored within Inferno.

Finally, Inferno has a rich static data model that allows all addresses and other confirmation data to be captured and stored in an efficient and easy to access manner.

Inferno Confirmation is available as a stand-alone module or as part of the overall Inferno post-trade solution.

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