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Typical Operational Breaks
Price and quantity mismatches
Learning Outcome
5
Detect, investigate, and resolve mismatches.
4
Understand their impact on settlement.
3
Identify common mismatch causes.
2
Differentiate price and quantity mismatches.
1
Define operational breaks and their impact.
What Are Operational Breaks?
Operational break:
A discrepancy between the trade records of the two counterparties, which must be identified and resolved before settlement can take place.
Why they matter:
An unresolved break can delay or completely prevent a trade from settling, affecting both parties and the smooth functioning of the market.
What Are Price and Quantity Mismatches?
Common Causes
Common Causes
Detection and Resolution
Summary
5
Mismatches must be fixed before settlement.
4
Errors, partial fills, or system issues cause mismatches.
3
Quantity mismatch means different recorded quantities.
2
Price mismatch means different recorded prices.
1
Operational breaks are trade record discrepancies.
Quiz
Which of the following is a common cause of quantity mismatches?
A. Dividend payments
B. Corporate actions
C. Manual data entry errors
D. Interest rate changes
Quiz-Answer
Which of the following is a common cause of quantity mismatches?
A. Dividend payments
B. Corporate actions
C. Manual data entry errors
D. Interest rate changes
Trade Lifecycle & Reconciliation Operations - Price and quantity mismatches
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