MM Confirmation Matching Results In Partial Match Due To Validation For Field 34E (Doc ID 2886872.1)

Last updated on AUGUST 02, 2022

Applies to:

Symptoms

On : 14.5.0.0.0 version, Production Support-SET

ACTUAL BEHAVIOR
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MM confirmation matching results in partial match due to validation for field 34E

During MM Confirmation matching, even though there is a matching MM contract available in the system for the incoming MT320, system marks it as ‘PARTIAL MATCH’ due to validation for field ‘N’ before the currency in tag 34E (when Interest ccy and rate are included in the FULL MATCH Rule).

EXPECTED BEHAVIOR
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System should do a FULL match instead of Partial match

STEPS
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The issue can be reproduced at will with the following steps:
1. User books a MM Placement contract in GBP currency and system generates outgoing MT320 (field 17R as ‘L’ and 34E as ‘NGBP’)
2. Incoming MT320 is received with tag 17R as ‘B’ and 34E as ‘GBP’.
3. On running the intra day job, system does the confirmation matching process and will try to find the ‘Product type’ for the matching MM contract (for fields COMMON_REF, PRINCIPAL AMT and CCY, VALUE DATE, MATURITY DATE, TRADE DATE). If it finds a matching MM contract, then it will assign the Product type as ‘L’ and checks the field 34E of the incoming message and expects a ‘N’ before the currency (e.g. NGBP) but since ‘N’ is not present in the incoming message, marks the contract as PARTIAL MATCH, as the currency value of incoming message is taken as ‘BP_’ and not as ‘GBP’

BUSINESS IMPACT
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The issue has the following business impact:
Due to this issue, users cannot do a full match for MM contract

Changes

Cause

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