Trade confirmation

Roles that need it

• Confirmations Analyst
• Middle Office Analyst
• Settlements Analyst
• Legal Counsel

Skills it belongs to

• Trade lifecycle
• Derivatives and how they work
• Attention to detail

Related concepts

• AllocationAllocation is the split of a block trade executed by an asset manager across the underlying funds or client accounts. Settlement discipline under the Central Securities Depositories Regulation (CSDR) requires professional clients to send written allocations to their investment firm on trade date, so settlement instructions can be confirmed and matched on time.
• Settlement matchingSettlement matching is the comparison of the buyer's and seller's settlement instructions by the settlement system before settlement, field by field (securities, quantity, amount, dates, accounts). Only matched instructions can settle. The Central Securities Depositories Regulation (CSDR) requires CSDs to offer matching tools and tolerances for small cash differences.
• ISDA Master AgreementThe ISDA Master Agreement is the standard contract published by the International Swaps and Derivatives Association under which two parties trade over-the-counter derivatives. It sets common terms, events of default and termination, and close-out netting, with a schedule for negotiated choices; each trade is then documented by a confirmation.
• EMIR (European Market Infrastructure Regulation)The European Market Infrastructure Regulation (EMIR), Regulation (EU) No 648/2012, sets EU rules for over-the-counter derivatives, central counterparties and trade repositories. It imposes clearing of standard derivatives, risk mitigation (confirmation, reconciliation, margin) for uncleared ones and reporting of all derivatives; EMIR 3 (2024/2987) added the active account requirement.
• Break (reconciliation break)A break is a difference found when two records that should agree are compared, such as a firm's securities position against the custodian's statement, or a trade against the counterparty's confirmation. Breaks are classified by cause and age, investigated, corrected at source and escalated when they stay open.

Sources

• Commission Delegated Regulation (EU) No 149/2013 (EMIR risk mitigation), EUR-Lex (external site) accessed 31 Oct 2026
• ECB glossary (C) (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.