Customers can submit their trades upon execution in real-time, exchange trade status messages, access and transmit reports, and cancel or modify trades in CMU RTTM using one of two methods: via CMU RTTM Web, the web-based user interface, or via interactive messages.
CMU RTTM Web is a web-based interface that serves as a single point of entry, providing transaction management and screen-based error resolution across fixed income instrument types. The application is a secure, browser-based trade entry/management tool that incorporates robust search capabilities, statistical reporting, and exception processing.
Through CMU RTTM Web, customers can enter trade-related activity and, regardless of input method, obtain the real-time status of all transactions received and/or updated by the CMU RTTM system. CMU RTTM Web’s user-friendly search, query, and reporting tools help members proactively identify and resolve processing exceptions that, left undetected, could lead to costly trade discrepancies.
Regardless of how trades are submitted, NSCC will generate output to CMU RTTM users when trades are compared (whether comparison occurs as a result of matching, or trades are recorded as compared upon receipt). Comparisons generated by NSCC evidence a valid, binding and enforceable contract between the trading member counterparties.
CMU RTTM routes compared trades to the appropriate destinations for further downstream processing for netting and settlement and regulatory agencies for price transparency reporting. CMU RTTM supports trade reporting to the Municipal Securities Rulemaking Board (MSRB).
CMU RTTM will send matched NSCC-eligible obligations that qualify for netting to NSCC’s Continuous Net Settlement (CNS) system, Balance Order system or the Trade-for-Trade Accounting system.