Trade agreed between Party A and Party B. 2. Trade input - both parties input and authorise 3 the trade details 3.
System matches trade details.
The buyer's banker authorises the transfer of funds to the seller's banks. ESAS sends a payment confirmation message to Austraclear to continue payment. Austraclear irrevocably settles the transaction. The security and cash records of the system are updated simultaneously. If all conditions are not met, the trade will stay pending settlement throughout the day, and settlement will be continually attempted by the system.