6.8.4 Funding Memo Status
In Funding Memo Status tab you are allowed to view the funding memo document status of the buyer and seller. The possible values for Action Status are Complete or Incomplete.
The system validates that the funding memo / pricing letter review should be completed by the buyer and seller for the combination of Trade Standard as well as Buy/Sell Indicator for the matched trade as mentioned in the below scenarios.
If the validations fail, system does not process the SDN messages and appropriate error
messages are displayed.
Table 6-10 Funding Memo Status
| Trade Standard | Buy/Sell Indicator | Funding Memo Status | Processing in OBCL |
|---|---|---|---|
| LSTA | Buy | Reviewer incomplete for buyer | Reject |
| LSTA | Buy | Reviewer complete for buyer | Process |
| LSTA | Sell | Reviewer incomplete for seller | Reject |
| LSTA | Sell | Reviewer complete for seller | Process |
| LMA | Buy/Sell | Signatory incomplete for both buyer and seller | Reject |
| LMA | Buy/Sell | Signatory complete for both buyer and seller | Process |
Note:
For the trades with Trade Standard as Non-Standard, the system does not validate the document status of the funding memo / pricing letter.Parent topic: Settlement Queue for Markit Trades