• Due to the migration of all trade functions (pit and ETS) from OTIS to the Trade Management System, Trade Management along with ACT ^TM, and Pay/Collect, will not be available for trade inquiry, update, add, and give-up functionality until 6:00AM Friday, May 9, 2003. Also, on Thursday night for Fridays business dated May 9^th, all MQM messages, API messages, ETS and SLED duplications, will be held and not released until approximately 2:00AM on Friday, May 9^th.

• Remaining unmatched trades after final processing on Thursday, May 8, 2003, will be loaded into the Trade Management System with the original trade ID and available for update on Friday, May 9, 2003.

• Due to the discontinuation of trade functionality in the OTIS System, the ability to group trades that contain multiple prices in order to calculate a rounded average price and residual per contract through use of the Average Price System will no longer be supported. The ability to give-up a transaction with average price information is supported through the ACT System.

• Firm users will have the ability to customize trade entry screens though use of the Trade Entry Profile feature. Users can create, save, edit, and delete individual trade entry profiles for future, option, SLED, and flex transactions. Once the contract type is selected, users will be required to create a profile name and set default field values. Users will also have the option to display or not display certain non-critical match fields within the entry screen.

• A new Position Management System, which will allow firms to create offset positions for fungible contracts. Firm users will submit offsetting positions through single line entry. The ratio for the second leg of an offsetting position will be automatically calculated based on the contract quantity entered for the first leg. Firm users will have the option of entering a trade price or leaving the field blank. If the trade price is left blank, the Position Management System will automatically populate this trade price using the most recent settlement price.

• Two new features, mirror and breakdown, will be available in the Outtrade Inquiry/Update screens to assist clerks in resolving unmatched trades. The mirroring feature will automatically update differing trade information of a selected transaction to match that of a selected opposing firm transaction. Firms will also have ability to automatically breakdown trades into multiple records for the purpose of matching a single transaction against several opposing firms. To use the breakdown feature, a firm user selects the trade to be broken-down, then selects the multiple opposing firm transactions to be matched with the original trade. It is important to note that critical trade information with the exception of opposite firm and quantity must match exactly when breaking down a trade. Furthermore, the quantity of the trade to be broken-down must be equal to the selected opposing transactions combined total quantity.

• Firm users, through use of the Trade Inquiry/Update Screen, will now have the ability to enter allocation information for give-up processing after a trade has already been submitted to clearing. Also, each trade marked as a give-up will contain a ‘GU’ link. By clicking this link, users will be navigated directly to the give-up transaction within the ACT System Initiate Summary Screen.

• Expanded search functionality has been added to Trade and Outtrade Inquiry/Update screens to assist users in locating specific transactions. Users have the option to search through three general queries which can be accessed through the main menu or on specific trade details within the inquiry screens using wildcard(*), partial(%), greater than(>), and less than(<) search features. For more information regarding search functionality refer to the help links located within the inquiry screens.

• Futures Adjustments, Transaction Type ‘7’, will not be processed through the Trade Management System. Transaction Type ‘7’ will be processed through the transfer section of the ACT System according to transfer business rules using the one-sided entry process.

• ACT and Trade Management applications will assign five-digit record IDs with shared ranges. Additionally, futures and options records with the identical record ID will not be allowed and will be rejected by Trade Management. For additional information, please refer to VOLUME 23 – BULLETIN #052

• Firm users will still have the ability to run current versions of trade entry reports using the Trade Management GUI. These reports are presently requested using the Report Request section in OTIS. Trade entry reports requested through Trade Management, will be made available for viewing and printing as an Online Request in Infopac.

• The functionality to update previous day time-stamp errors will still reside in the OTIS System.

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