Unmatched Trade Functionality (C1 Only)
From within the Clearing Editor, Cboe Options customers can access the Unmatched Trade functionality. PAR to PAR and PAR to Market Maker open outcry transactions can result in buy or sell records to be unmatched due to differences in critical matching fields (series, price, quantity, buy/sell or executing and contra broker). The Unmatched Trade interface allows C1 clearing and execution firms to review and modify unmatched trade records so they will match and clear. Unmatched trades appear highlighted in light orange. Users may also delete unmatched trades.
By default, displayed data is sorted by class, series, execution, and side (buy or sell). Users can initiate searches defined by all available fields on the screen.
The following fields can be updated via the Unmatched Trade interface.
- Side
- Class (OSI Root)
- Call/Put
- Expire Date
- Strike Price
- Price
- Position
- CMTA
- Capacity
- Account
- Sub Account
- Clearing Optional Data
- Broker ID
- Frequent Trader ID
- Floor Trader Acronym
- Contra Floor Trader Acronym
- Reason Code
- Reason Text
- Quantity
You can select reason codes from a drop-down menu when updating certain fields.
After a trade update is submitted, the system attempts to match the trade. Any trades that are matched are then displayed as matched trades.
User profiles, created and assigned by the Cboe Trade Desk, define the visibility of trades. A user profile can restrict the user’s visibility within and outside of their firm. Written authorization is required to allow a user to see trades sent via another firm’s EFID.