Syn~ settlement system has two sub-systems.
a) a trade sub-system, which take care of the trade settlement life-cycle.
b) a ledger sub-system, which take care of the cash postings generated by the trades, and post them into the ledger.
A important feature of Syn~ is that, posting in the ledger sub-system is semi-realtime.
The posting processor runs every few minutes (say 10min) to process all un-processed posting messages.
The posting messages are generated when trades are entered, settled, cancelled or valuedate-ed.
The trade sub-system runs on its own calendar, while the ledger sub-system runs the other.
Reason?
1> We can only trade when the market is open on the day, settle when the central clearing house (of the market) is on a working day. But we can credit/debit accounts on any day (at least theoretically).
2> Trades on different markets generates ledger postings on their market day. They can be posted into the same accounting ledger, defined by accountants. So the accounting ledger is open while some market is closed.
In short, trade system calendar is different from ledger calendar.
A big problem: