Quick Start (OB's Quick Start is LB)

Quick Start (OB Onboarding as LB)

Applicable Scenarios

• OB mode, onboarding as Longbridge Securities
• Broker operates only in the Hong Kong market

Quick Start

Prerequisites

You must obtain the following authorizations before the system functions can be used normally.

Operational Instructions

1. Import Trading Files

• Around 5:00 PM Hong Kong time, click Quick Parse to import the trading file.
• Navigation: Clearing Management > Market Clearing > Quick Import

You can monitor the parsing status through the Status field in the list area; parsing is considered complete only after it succeeds.

2. Market Clearing (Trade Clearing)

• After the trading file import is completed, you may proceed with market clearing.
• Navigation: Clearing Management > Market Clearing > End-of-Day Tasks

Pre-clearing Preparation

• This function checks whether the required configurations and the day’s business operations have been completed before execution.
• After confirming that the current accounting date is correct, click Execute Pre-clearing Preparation.
• Note: If only the Hong Kong market is used, U.S. and European market clearing can be hidden during initial setup.
• After execution, the checks will return results within 5 seconds. If all checks pass, subsequent operations may proceed.
• For checks that report errors, click the top-right corner of the check item to view the rules and operational guidance for that item.
• Some checks provide detailed exception information.
• If settlement personnel confirm issues, they may complete the relevant business operations and click “Re-execute.”
• If settlement personnel determine that a check item can be approved, they may click Manual Review to approve it (a verification review is required).
• Reviewers may click Manual Review (or directly review within a work order) to open the work order review interface.
• If, after verification, a check item must be permanently closed due to differences in business processes, contact customer service for assistance.
• Once a manual approval is completed, the Pre-clearing Preparation is considered finished (the interface will display: Manually Approved).

Market Clearing — One-Click Clearing

• After Pre-clearing Preparation has been executed and completed, you may click the [Start One-Click Clearing] button. The system will automatically execute from the first step through the clearing and settlement jobs. When no errors occur, the system will automatically continue to the next job.
• Note: If necessary, you may click “Pause One-Click Clearing,” but the system will wait until the current job finishes before pausing the next action (the button will be grayed out).
• To perform background order supplementation or to correct contracts, click “Pause One-Click Clearing” on the Data Synchronization page and then execute steps manually in sequence to avoid missing the pause timing.
• If a job error occurs mid-process, One-Click Clearing will pause and stop at the job that produced the error. Users may refer to the error message to perform subsequent corrections.
• At that time, depending on business needs, you may manually select related job actions on the lower right to check or correct records or to proceed to the next one-click clearing operation; the system will then automatically execute the next job.
• Note: During One-Click Clearing, you may rely on the system’s automatic one-click execution (which runs all jobs automatically) or manually select and execute individual jobs.

Day-End Data Synchronization (Client Trade)

• Executing this step synchronizes system data, including trades, deposits and withdrawals prior to the day-cut point, trades, account openings, and other related data.

Pre-clearing Checks (Trade Match)

• Executing the pre-clearing check step will automatically trigger trade reconciliation for the day.
• If trade reconciliation fails, you can quickly jump to the Trade Reconciliation interface to view results.
• In Clearing Checks (Navigation: Clearing Management > Market Clearing > Clearing Checks > Trade Reconciliation), you can query trade reconciliation for each market separately.
• Each time you click Check, the system generates the latest check result; maintain only the latest result.
• Counterparty file import errors: Re-import the counterparty file in the file import interface, then re-run Pre-clearing Check.
• Local order errors: After adding, deleting, or modifying front-end orders, re-run Pre-clearing Check.
• Process as system data: In “Check Results” (Navigation: Clearing Management > Market Clearing > End-of-Day Tasks > Clearing Checks > Check Results), change the corresponding check result to “Pass,” then re-run Pre-clearing Check from the End-of-Day Tasks page.

Clearing Billing

• During the Clearing Billing step, front-office contracts are generated with status set to Pending Billing.
• If this step is paused, you may edit front-office order charges.

Clearing Posting

• Based on billing statements, stock principal and fees are posted to business accounts; contract status changes from Calculated to Pending Settlement. The system will generate SDR018 series reports.
• Note 1: Background order supplementation must be completed before this step.
• Note 2: If clearing is reversed (asset handling set to do not process) after this step has completed, Clearing Billing and Clearing Posting will be no-ops and will be handled according to the original data.

Clearing Settlement

• Positions are processed based on contracts, adjustments, and other transactions.
• Contracts for the relevant date change to Settlement Completed.
• Position data is generated.
• T+2 ATI and other settlement instructions are generated.
• Temporary holdings are generated for corporate action processing.

3. End-of-Day Clearing (Non-trade Clearing)

• After Market Clearing is completed, you may perform End-of-Day Clearing.

Pre-clearing Preparation

• Before formally executing End-of-Day Clearing, execute the Pre-clearing Preparation.
• This must be performed only after all market clearing has been completed; it mainly checks whether all business operations for the day have been completed.
• The operation method is the same as Market Clearing; see above for details.

End-of-Day One-Click Clearing

• After Pre-clearing Preparation is complete, click the [Start One-Click Clearing] button.
• The system will automatically execute from the first step through to the Statement Generation step.
• After statements are generated, they may be reviewed via reports or the statements themselves.

Data Aggregation

• Before this operation, complete the posting date adjustments, advanced allocation of securities package fees / financing interest, and any amount adjustments.
• This operation processes trade data, adjustment data, deposits and withdrawals, closing prices, and other files across multiple markets and may be clicked repeatedly. Data Aggregation represents the last synchronized end-of-day data across all markets; it also represents the last full position processing across all markets, generating complete position data.
• After performing Data Aggregation, if posting date adjustments or closing prices are changed, re-run Data Aggregation.

In-Progress Checks

• Internal transaction reconciliation, business operation checks, etc.
• Checks may be triggered repeatedly; after resolving issues, re-trigger the checks.

Fund Clearing

• Execute tasks such as financing interest calculation, securities package fees, and securities lending calculations.

Post-clearing Checks

• Post-clearing checks primarily examine the execution status of the fund clearing steps.

Statement Generation

• Click Statement Generation to produce statements.
• Statements that have already been sent cannot be regenerated.

Day Cut

• After executing the day-cut process, the system accounting date advances to the next day.
• Settlement operations for financing interest and similar items are processed.
• Broker commission calculations are performed.

4. Statement Sending

• After statements are generated, you may proceed to send statements.
• Navigation: Clearing Management > End-of-Day Management > Statement Management > Statement Query
• The system supports automatic statement sending during the day-cut aggregation step, but this must be configured in advance; please contact Whale Customer Support for configuration.
• You may select records in the right-hand record area to Resend or Download statements.

5. Position Reconciliation

• On the morning of T+1, you may import the CCASS position file in the Quick Import interface to perform position reconciliation.
• After import, the system will automatically trigger reconciliation.
• After import and triggering the system reconciliation process, the reconciliation result status will be In Progress.
• Once the reconciliation task completes, the reconciliation result will be either Unreconciled or Reconciled.
• Clicking Reconcile Again will (re)trigger the system reconciliation. The system supports triggering reconciliation for historical dates.