Details
a.k.a. Trade details, Settlement details
The information two parties swap after agreeing a deal so it can be settled: names, rates, dates and…
In plain English
The information two parties swap after agreeing a deal so it can be settled: names, rates, dates and payment instructions.
Once dealers agree a trade, they exchange details: who the counterparties are, the rate, the amounts, the value date and where to send the money.
Mismatched details cause failed settlements, so back offices check them carefully. Retail traders never see this step; it happens between institutions.
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