Coupon payment corporate action is posted by SYSTEM for a Customer whose Security position is actually zero (Doc ID 2635981.1)

Last updated on JUNE 21, 2021

Applies to:

Symptoms

ACTUAL BEHAVIOR
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Corporate action of coupon payment is generated for a Customer who has completely sold the available position

EXPECTED BEHAVIOR
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Bank expects current position and holding to display as zero and no coupon payments to be fired on the position

STEPS
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The issue can be reproduced at will with the following steps:
1. Liquidate all deals of a customer to sell the entire quantity that is shown as current position for the Customer
2. Verify if the security position is updated to zero
3. Execute EOD and check if any coupon payment is fired on corresponding coupon date

BUSINESS IMPACT
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The issue has the following business impact:
Due to this issue, Coupon collection and payment triggered for a zero position customer leading to financial impact

Changes

Cause

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