Chapter 6 , part 2 - CISI IT

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Reconciliation of data eg nostro accounts, with the settlement agents that operate those accounts - is it internal of external?
External
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Reconciliation data held in one of the firm's business app (eg its settlement system) with data hed on one or more of its other business app systems is internal or external?
Internal
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What is an Active Breach?
Where a fund manager trades into the wrong investment (eg not where the client wants to trade in)
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What is a Passive Breach?
Breach caused by market conditions outside of control of the manager or investor
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What is an XML message standard for OTC derivatives published by JP Morgan called?
FpML - financial products markup Language
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What is an XBRL?
XML Message Standard for exchanging information about corporate data eg P&L, balance sheets between the company and its stakeholders
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What is the purpose of a maturity ladder?
Maximize interest income and minimize interest exposure
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If you were designing a new settlement system, how would you deliver a maturity ladder to users?
As a real-time enquiry system
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What is considered "best practice" in a settlement system with regard to the design of relationship between trade reference and instuction reference?
Many trade references to many instruction references
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SWIFT key exchnage provides 5 security benefits to participants. 4 of those are authenticity, intergrity, confidentiality and access control. What is the final benefit?
Non-repudiation (originator cannot deny that the message was sen as it contains their unique digital signature)
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A settlement agent send a message that tells you that an instruction is matched, but you don't have any stock to deliver. What should you do?
Investigate internally
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Which instrument classes are generally not acceptable as collateral for repo transactions?
OECD gov bonds
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For what point does SWIFT operate?
24hrs per day, 7 days a week
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What is the significance of the 'our reference' field on a settlement instruction?
It's the ref to be quoted by the depot on subsequent messages about the instruction
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What does field 61 of MT950 message beginning with '61:050704C472,50...." mean?
This is a credit entry of 472.50
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What is held within "our depot account"
An account where stock is held.
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The digital certificate that represents the highest level of authentication within the SWIFT environment is provided by:
SWIFTNet PKI
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Other cards in this set

Card 2

Front

Reconciliation data held in one of the firm's business app (eg its settlement system) with data hed on one or more of its other business app systems is internal or external?

Back

Internal

Card 3

Front

What is an Active Breach?

Back

Preview of the front of card 3

Card 4

Front

What is a Passive Breach?

Back

Preview of the front of card 4

Card 5

Front

What is an XML message standard for OTC derivatives published by JP Morgan called?

Back

Preview of the front of card 5
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