PositionWatch is the ONLY product on the street that is able to compress multi-market trades to a single market and submitted to the backoffice. Unfortunately, that is not the only step as the single market compression triggers CDS trade breaks that, if not handled properly, can cause massive internal reconciliation issues.

The backoffice (ISM, ADP, Dataphile) will settle with CDS each evening based on the trades supplied in the PositionWatch EOD file. The Canadian marketplaces will also send settlement instructions to CDS and the backoffice, and in normal cases the trades in the EOD file will correspond with each of the marketplace's settlement instructions. However, due to single market compression, they will not settle correctly and trigger breaks on each transaction from the EOD file and from the exchanges by CDS. The exchanges will each submit a summary of the fills by symbol in such a way that CDS would expect the backoffice to match the exchanges.

PositionWatch will load the CDS trade data as well as the backoffice blotter data and perform and complete reconciliation to determine the true breaks and filter out the false breaks caused by the single market compression. A "Balance Report" is generated to indicate the entries that must be corrected in the backoffice to reconcile with CDS. This process also takes into consideration settlement dates and special settlement terms conditions as well.

Users have the ability to run trade reconciliation reports by-market and by-symbol, which can be loaded and viewed inside of PositionWatch, or exported to Excel for record keeping purposes. Since PositionWatch maintains all data for 7 years, operations users can run any historical reports as well as view all of the trade details firm-wide in order to investigate break issues.