Settlement, contract notes, and account records
Understand why an executed trade still needs cash, securities, and document records to line up.
Execution and settlement are different
Execution is the market trade. Settlement is the later exchange of cash and securities under the current market cycle. The cycle can change, so the app should show the rule in force.
Cash availability
Cash can be available, reserved for an open order, or affected by unsettled activity. The balance you see needs a clear state before you use or withdraw it.
The document trail
The order receipt, execution details, contract note, transactions, statement, and custody or clearing records should tell one consistent story.
If a portfolio shows 100 shares, the filled order and account records should explain where those 100 came from.
Three things to keep.
- 01Execution happens before final settlement
- 02Cash states matter
- 03Official records should reconcile
Should Tijarat hardcode one settlement cycle forever?
Show the answer +
No. It should use the rule in force and show the applicable cycle with the order or account record.