CDS Payments and Settlement System

Background

CDS trades that were confirmed in DTCC had periodic payments associated with it. The payments were expected to match with the cash flows generated by our internal systems. The Bank needed a system to flag discrepancies on a real time basis.

Implementation

A system was needed to reconcile payments as per DTCC with the internal cash flows. The same was needed for the net settlement that was expected to happen.

We developed a system that would store internal cash flows as well as source payment values from DTCC for each trade. The system would compare them and highlight any discrepancies like any amount mismatch with tolerance or missing payments. Similarly the system would calculate net settlement based on internal cash flows and compare with net settlements as per DTCC highlighting any discrepancies

Main Tech Stack : Java 8, Google Guice, GRPC, REST, JPA, Hibernate, Multithreading, XML, XSD, Xpath, FpML, JSON, Mockito, Fitnesse, Maven, Jenkins, Sybase, Solace, MQ, Linux, SVN/Enterprise GitHub, Nexus Repository.

The end result was that we had a real time payment and settlement reconciliation system that allowed the business users to quickly identify issues.