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This page describes workflows associated with cancelling a previously submitted IRS allocation that is still pending.

 

 

Cancelling (withdrawing) an IRS Allocation 

In this scenario, the platform / clearing firm sends allocation instruction to cancel a previously submitted IRS allocation that is still pending.

The steps are:

  • The platform / clearing firm sends an allocation instruction to allocate a cleared bunched order trade.
  • CME Clearing validates the allocation instruction for the following allocation details:
    • Presence of the bunched trade being allocated in the system based on the identifiers sent in the allocation instruction.
    • Accounts being allocated to are valid accounts.
    • Sum of all the allocations doesn’t exceed the block quantity.
  • CME Clearing sends the valid allocations to the clearing firms for explicit claim, and the platform receives a pending clear notification for each valid allocation.
  • One of the clearing firms claims an allocation.
  • Another allocation is still in pending clear state.
  • The platform / clearing firm sends an allocation instruction to cancel the pending allocation.
  • CME Clearing notifies the clearing firms of the cancellation, and the platform / clearing firm receives a notification of the allocation's cancellation.

 

 

  

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