TRANACTION PROCESSING AND LIFECYCLE MANAGEMENT Sample Clauses

The "Transaction Processing and Lifecycle Management" clause defines the procedures and responsibilities for handling transactions from initiation through completion and any subsequent actions. It typically outlines steps such as order placement, confirmation, settlement, and ongoing monitoring or reporting, and may specify the roles of each party in these processes. By establishing clear protocols for managing transactions throughout their lifecycle, this clause ensures operational efficiency, reduces errors, and provides accountability for all parties involved.
TRANACTION PROCESSING AND LIFECYCLE MANAGEMENT. 3.1 Subject to Clause 2.1 and Clause 6, Bank shall maintain a process for daily position management so that the Bank shall have an up-to-date record for each OTC Derivative Contract on its system. This daily position management process shall include the setting up each OTC Derivative Contract on the system and amending the OTC Derivative Contract as reasonably required to reflect, without limitation, cancellations, terminations, option exercises and option expiries, maturities or credit events as notified to the Bank by the Customer The Bank shall also support cash break resolution, manage the reconciliation of trades, positions and cashflows related to the OTC Derivative Contract as well as provide the Customer with associated cashflow and lifecycle reporting.
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