Oasys Global allows the electronic on-line matching and affirming of Broker to Client trades. Oasys can be used in one of two ways, either at Confirmation level or at Block level. When using Oasys at confirmation level the basic procedure is as follows:
- Broker receives client order and account details from investment house.
- Broker books out the trade(s) in question.
- Trade(s) is processed and an electronic confirmation message is generated from the Oasys terminal to the client terminal.
- Client receives trade electronically and either "Affirms" the deal, or "Rejects" with a narrative if they do not agree the trade details.
- Once the deal is affirmed it is fully matched and confirmed.
Using Oasys at Block level the flow is as follows:
- Broker receives bulk client order but is not informed of the account splits.
- Bulk order is sent over to the client via the Oasys terminal.
- Client views the bulk transaction and if the details are agreed sends back all of the account splitting information (Nb this could vary from one account to many hundreds).
- Once received the Broker checks account splits and returns the trade splits to the client.
- Client checks the booked trades online and affirms.
Whether Oasys Global is used at Confirmation or Block level both further quick and accurate online booking and confirmation of deal transactions. For further information regarding this confirmation service please click on the Oasys Global link below.