Fortunately, the integration of IMS with the Swift Securities View, brings real-time visibility to transaction flow and trade status through its trade settlement Dashboard. Consequently, the timely actions can minimize intensity and duration of manual processes associated with exception handling and fail resolution procedures.
The UTI is a unique alphanumeric code assigned to a securities trade comprising up to 52 characters. This allows for end-to-end tracking throughout the lifecycle of the settlement. In the initial process, the ISO 15022 MT messages can be enriched to carry out the settlement data, including UTI, to exchange messages between counterparties. All parties continue to process and persist the UTI in all related Swift settlement messages throughout the process. In instances where no matching platform is accessible, firms can affirm trade allocation bilaterally, using channels like FIX messaging that facilitate the exchange of a Unique Transaction Identifier (UTI). Furthermore, within Swift settlement messages (ISO 15022 and ISO 20022), specific fields are designated to transmit the UTI throughout the settlement flow.
