A confirmation is a document that one party sends to another describing all the relevant details about a transaction. If a deal consists of one or more actions, each of which may require confirmation, you can group several confirmations into a single deal confirmation group. For example, a deal confirmation group for a foreign exchange option may consist of two confirmations: one for the trade and one for exercising the option.

If you want to use confirmations, then you must define at least one confirmation group.

Setting Up Confirmation Groups

Use the Confirmation Groups window to define different groups of transactions that require confirmation. Once defined, you can assign confirmation groups to parties in the Counterparty Profiles window.

To set up a confirmation group

1. In the Confirmation Groups window, in the Group Code field enter a unique value. Enter a description for the group.

2. If you want to create a new confirmation group by modifying an existing confirmation group, then select that confirmation group in the Copy From Group field.

3. Identify which actions require confirmation by selecting the Required check box next to the action.

4. Save your work.