What is the name of the report that allows reconciliation of trades and trade statuses?

What is the name of the report that allows reconciliation of trades and trade statuses?

• A. Central Limit Order Book (CLOB)
• B. Trade Reconciliation Report (TRR)
• C. Order Reconciliation Report (ORR)
• D. Pre-trade transparency

Answer: (B)

Reconciliation of trades and their statuses is about making sure the trade details you have recorded match what the counterparty, the exchange or venue, and the clearing system have on their books. The Trade Reconciliation Report is the tool designed for this purpose. It brings together trade records from different systems, compares key fields such as instrument, quantity, price, trade date/time, and current status (for example, executed, pending, or canceled), and flags any mismatches. This lets you quickly identify and resolve discrepancies before settlement, reducing the risk of failed trades and settlement errors. The other options don’t fit this role: a central limit order book is the venue’s mechanism for matching buy and sell orders, not a post-trade reconciliation document; an Order Reconciliation Report is not the standard name for this specific function; and pre-trade transparency concerns visibility before execution rather than reconciling completed trades.

Reconciliation of trades and their statuses is about making sure the trade details you have recorded match what the counterparty, the exchange or venue, and the clearing system have on their books. The Trade Reconciliation Report is the tool designed for this purpose. It brings together trade records from different systems, compares key fields such as instrument, quantity, price, trade date/time, and current status (for example, executed, pending, or canceled), and flags any mismatches. This lets you quickly identify and resolve discrepancies before settlement, reducing the risk of failed trades and settlement errors. The other options don’t fit this role: a central limit order book is the venue’s mechanism for matching buy and sell orders, not a post-trade reconciliation document; an Order Reconciliation Report is not the standard name for this specific function; and pre-trade transparency concerns visibility before execution rather than reconciling completed trades.