The Independence Clearance System


Black Diamond Systems, LLC




State-of-the-art Back-Office and Clearing System for fixed-income securities and derivatives


Processes the entire trade life cycle from completion of trade through year-end reporting


Off-the-shelf modules available for:


Corporate Bonds


Mortgage-backs and Asset-backs, TBA's and allocations






Canadian Repos and T-Bills


Interest-rate agreements - Swaps, FRA's, Cross-currency


Easily expandable to handle additional security types


Corporate Bond Trade Entry Screen




State-of-the art client-server architecture

SQL Database server running on Sun host(s)

Data entry under Windows on PC's networked to Sun

All data entry screens developed in 4th Generation Language (4GL)

Designed for minimal operator intervention and system administration

Integrated facility for permanent data archiving as well as remote site backup

Real-time interface to third-party electronic databases for security lookup


Repo Single Collateral Data Entry Screen



Repo Multiple Collateral Data Entry Screen



Trade Life-Cycle


Data entry from broker-originated trade tickets or blotters. (Automatic entry from broker system an option)

Built-in calculator for quantities such as commissions, accrued interest, and profit

Extensive reporting, including summaries by broker, desk, customer, and security

Automatic faxing of trade confirmations

GovPX feed

Automatic trade clearing and cleanup appropriate to trade type. Includes:

Immediate giveup

Scheduled giveup

Automatic electronic link to clearing bank (DTC, PTC, Fedwire)

Transmission to MBSCC/SIAC for Mortgage-backs

P&L tracking

Complete tracking of Mortgage-backed TBA allocations, including subsequent clearing of pools

Generation of month-end commission bills for give-up trades


Mortgage-backed Data Entry Screen



Mortgage-backed Allocation Screen