{"id":8497,"date":"2024-03-07T09:30:17","date_gmt":"2024-03-07T09:30:17","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/"},"modified":"2025-06-11T09:55:05","modified_gmt":"2025-06-11T13:55:05","slug":"failstation","status":"publish","type":"page","link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/","title":{"rendered":"FailStation"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <style>section[data-anchor='row-69e7bcf87b10d'] {\n\t\t\t\tbackground-image: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/L4_Isometric.jpg);\n\t\t\t  }@media screen and ( min-width: 769px ) and ( max-width: 1024px ) {\n\t\t\t\t\tsection[data-anchor='row-69e7bcf87b10d'] {\n\t\t\t\t\t\tbackground-image: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Tablet_BG_dark_051625_03.jpg);\n\t\t\t\t\t}\n\t\t\t\t  }@media screen and ( max-width: 768px ) {\n\t\t\t\t\tsection[data-anchor='row-69e7bcf87b10d'] {\n\t\t\t\t\t\tbackground-image: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Mobile_BG_dark_051625_03.jpg);\n\t\t\t\t\t}\n\t\t\t\t  }<\/style>\n    <section class=\"bbg-row bbg-row--hero-product bg--has-media       text--white row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf87b10d'>\n        \n        \n        <div\n            class=\"bbg-row--content bbg-height--custom\"\n            style=\"min-height:540px;\"        >\n            \n            <div\n    class=\"bbg-column bbg-column--width-5 bbg-column--valign-middle\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg txt_eyebrow_product\"\n\t\t>\n\t<p>Trading \/ Post-Trade Services<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h1>FailStation<\/h1>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Overview' data-anchor='row-69e7bcf8861a0' id='row-69e7bcf8861a0'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-4\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>The standard in settlement management<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Bloomberg\u2019s FailStation (FSTN) is a settlement-exception management tool that aggregates, in real-time, pre- and post-settlement exceptions into a single view and normalized format.<\/p>\n<p>FSTN enhances operational workflows and facilitates regulatory compliance by providing the instant transparency required for efficient post-trade processes.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"900\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315.png\" class=\"bbg-single-image__image attachment-full\" alt=\"\" title=\"894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315.png 900w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315.png 300w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315.png 150w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/894874_BBGT_FSTN_Web-Page_Infographic_201013-e1603115520315.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf88b906'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--bottom-compact row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Connecting the industry' data-anchor='row-69e7bcf88dee4' id='connecting'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-4\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Connecting the industry<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>FSTN connects 150+ custodian banks, prime and executing brokers, creating a comprehensive post-trade network.<\/p>\n<p>As firms face increased regulatory demand for exceptions to be resolved at speed, FSTN\u2019s communication system automates manual processes to save time and reduce effort. Automated emails to all stakeholders of a fail mean resolution begins faster, and is further accelerated by Bloomberg\u2019s post-trade network.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf89025c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf891dc8'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground:white;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:inherit;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Request a FailStation Demo<\/h3>\n      \n          <\/div>\n\n          \n<div\n  id=\"cta_6064265242639410111\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/request-demo\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf89791e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--bottom-compact bbg-row--margin-bottom-normal row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Overview' data-anchor='row-69e7bcf89910f' id='row-69e7bcf89910f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-4\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Solving CSDR\u2019s post-trade puzzle<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Sell-side and buy-side firms across the globe should prepare to comply with \u2013 and manage the impact of \u2013 the settlement discipline being introduced by the Central Securities Depositories Regulation (CSDR) in 2022.<\/p>\n<p>FSTN helps solve the CSDR post-trade puzzle so firms can fulfil their new regulatory requirements with tools that evolve and automate operations, and achieve high settlement rates. These include:<\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<ul>\n<li>Complete CSDR data schema including security classifications and penalty rates<\/li>\n<\/ul>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<ul>\n<li>Integration with buy-in-agents and proprietary financial systems<\/li>\n<\/ul>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<ul>\n<li>CSDR penalty and buy-in cost estimate calculations<\/li>\n<\/ul>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong>How we help our clients<\/strong><\/p>\n\n<\/div>\n\n<div\n  id=\"cta_2635527872043536886\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/solutions\/regulation\/csdr\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg for CSDR\"\n        >\n                      Bloomberg for CSDR\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69e7bcf89c3e0'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-jump-link-section bbg-row--full-bg-bleed\" data-jump-link-label='Insights' data-anchor='row-69e7bcf89daa6' id='insights'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Research &amp; Insights<\/h2>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--valign-middle bbg-column--halign-right bbg-column--s-width-2\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_8411479416342794788\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p justify\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"View all Insights\"\n        >\n                      View all Insights\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg_featured_insights default\">\n                                <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_1\" data-element-pubdate=\"April 20, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/commodities\/what-the-us-iran-war-means-for-commodity-markets-and-portfolios\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_1\" data-element-title=\"What the US-Iran war means for commodity markets and portfolios\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/380377823resiz.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Oil Barrels Stacked In A Warehouse\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/article\/\" data-element-cardtype=\"image\" data-element-type=\"article\" data-element-title=\"What the US-Iran war means for commodity markets and portfolios\" data-element-position=\"feed_1\">Article<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/commodities\/what-the-us-iran-war-means-for-commodity-markets-and-portfolios\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_1\" data-element-title=\"What the US-Iran war means for commodity markets and portfolios\">\n                        <h3 class=\"title\">What the US-Iran war means for commodity markets and portfolios<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/commodities\/\" data-element-cardtype=\"image\" data-element-position=\"feed_1\" data-element-topic=\"commodities\" data-element-title=\"What the US-Iran war means for commodity markets and portfolios\">\n                        <span class=\"category-link-text\">Commodities<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n                                        <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_2\" data-element-pubdate=\"April 20, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/trading\/the-evolution-of-pre-trade-intelligence-from-prediction-to-action\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_2\" data-element-title=\"From prediction to precision: The evolution of pre-trade intelligence\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Data on live computer screen\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_256608775-3-1.jpg 162w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/article\/\" data-element-cardtype=\"image\" data-element-type=\"article\" data-element-title=\"From prediction to precision: The evolution of pre-trade intelligence\" data-element-position=\"feed_2\">Article<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/trading\/the-evolution-of-pre-trade-intelligence-from-prediction-to-action\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_2\" data-element-title=\"From prediction to precision: The evolution of pre-trade intelligence\">\n                        <h3 class=\"title\">From prediction to precision: The evolution of pre-trade intelligence<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/trading\/\" data-element-cardtype=\"image\" data-element-position=\"feed_2\" data-element-topic=\"trading\" data-element-title=\"From prediction to precision: The evolution of pre-trade intelligence\">\n                        <span class=\"category-link-text\">Trading<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n                                        <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_3\" data-element-pubdate=\"April 16, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/risk\/a-correlation-based-framework-for-market-regime-detection-using-bloomberg-mac3\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_3\" data-element-title=\"A correlation-based framework for market regime detection using Bloomberg MAC3\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_2074659229-11.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Stockmarket online trading chart candlestick\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/article\/\" data-element-cardtype=\"image\" data-element-type=\"article\" data-element-title=\"A correlation-based framework for market regime detection using Bloomberg MAC3\" data-element-position=\"feed_3\">Article<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/risk\/a-correlation-based-framework-for-market-regime-detection-using-bloomberg-mac3\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_3\" data-element-title=\"A correlation-based framework for market regime detection using Bloomberg MAC3\">\n                        <h3 class=\"title\">A correlation-based framework for market regime detection using Bloomberg MAC3<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/risk\/\" data-element-cardtype=\"image\" data-element-position=\"feed_3\" data-element-topic=\"risk\" data-element-title=\"A correlation-based framework for market regime detection using Bloomberg MAC3\">\n                        <span class=\"category-link-text\">Risk<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n                                        <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_4\" data-element-pubdate=\"April 14, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/bridging-global-markets-unlocking-opportunities-in-koreas-evolving-treasury-landscape\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_4\" data-element-title=\"Bridging global markets: Unlocking opportunities in Korea\u2019s evolving treasury landscape\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Seoul skyline\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/341097758.jpg 2048w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/article\/\" data-element-cardtype=\"image\" data-element-type=\"article\" data-element-title=\"Bridging global markets: Unlocking opportunities in Korea\u2019s evolving treasury landscape\" data-element-position=\"feed_4\">Article<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/bridging-global-markets-unlocking-opportunities-in-koreas-evolving-treasury-landscape\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_4\" data-element-title=\"Bridging global markets: Unlocking opportunities in Korea\u2019s evolving treasury landscape\">\n                        <h3 class=\"title\">Bridging global markets: Unlocking opportunities in Korea\u2019s evolving treasury landscape<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" data-element-cardtype=\"image\" data-element-position=\"feed_4\" data-element-topic=\"markets\" data-element-title=\"Bridging global markets: Unlocking opportunities in Korea\u2019s evolving treasury landscape\">\n                        <span class=\"category-link-text\">Markets<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n                                        <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_5\" data-element-pubdate=\"April 13, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/financial-services\/asset-allocation-for-alternatives-digital-assets\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_5\" data-element-title=\"Asset Allocation for Alternatives: Digital Assets\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"531\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/317421465.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Bitcoin\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/report\/\" data-element-cardtype=\"image\" data-element-type=\"report\" data-element-title=\"Asset Allocation for Alternatives: Digital Assets\" data-element-position=\"feed_5\">Report<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/financial-services\/asset-allocation-for-alternatives-digital-assets\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_5\" data-element-title=\"Asset Allocation for Alternatives: Digital Assets\">\n                        <h3 class=\"title\">Asset Allocation for Alternatives: Digital Assets<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/financial-services\/\" data-element-cardtype=\"image\" data-element-position=\"feed_5\" data-element-topic=\"financial-services\" data-element-title=\"Asset Allocation for Alternatives: Digital Assets\">\n                        <span class=\"category-link-text\">Financial Services<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n                                        <div class=\"bbg-featured-card bbg-column--width-4 bbg-column--m-width-4\" style=background-color:#f4f4f9; data-element-cardtype=\"image\" data-element-position=\"feed_6\" data-element-pubdate=\"March 20, 2026\">\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/trading\/ai-disruption-hits-credit-leveraged-loans-diverge-from-high-yield-bonds\/\" target=\"\" rel=\"\" class=\"image\" data-element-cardtype=\"image\" data-element-position=\"feed_6\" data-element-title=\"AI disruption hits credit: Leveraged loans diverge from high yield bonds\">\n                    <figure class=\"image__figure\">\n                        <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"531\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-07-28-at-12.26.50%E2%80%AFPM.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Office buildings view\" \/>\n                    <\/figure>\n                <\/a>\n                <div class=\"content\">\n                    <a class=\"eyebrow type-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/type\/article\/\" data-element-cardtype=\"image\" data-element-type=\"article\" data-element-title=\"AI disruption hits credit: Leveraged loans diverge from high yield bonds\" data-element-position=\"feed_6\">Article<\/a>\n                    <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/trading\/ai-disruption-hits-credit-leveraged-loans-diverge-from-high-yield-bonds\/\" target=\"\" rel=\"\" class=\"title-link\" data-element-cardtype=\"image\" data-element-position=\"feed_6\" data-element-title=\"AI disruption hits credit: Leveraged loans diverge from high yield bonds\">\n                        <h3 class=\"title\">AI disruption hits credit: Leveraged loans diverge from high yield bonds<\/h3>\n                    <\/a>\n                                        <a class=\"category-link\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/trading\/\" data-element-cardtype=\"image\" data-element-position=\"feed_6\" data-element-topic=\"trading\" data-element-title=\"AI disruption hits credit: Leveraged loans diverge from high yield bonds\">\n                        <span class=\"category-link-text\">Trading<\/span>\n                    <\/a>\n                <\/div>\n            <\/div>\n            <\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n<div\n    class=\"bbg-column bbg-column--width-4\"\n    style=\"\"\n    >\n    \n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trading \/ Post-Trade Services FailStation The standard in settlement management Bloomberg\u2019s FailStation (FSTN) is a settlement-exception management tool that aggregates, in real-time, pre- and post-settlement exceptions into a single view and normalized format. FSTN enhances operational workflows and facilitates regulatory compliance by providing the instant transparency required for efficient post-trade processes. Connecting the industry FSTN&hellip;<\/p>\n","protected":false},"author":1857,"featured_media":0,"parent":2635,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_yoast_wpseo_primary_category":"","footnotes":""},"class_list":["post-8497","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FailStation | Bloomberg Professional Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FailStation | Bloomberg Professional Services\" \/>\n<meta property=\"og:url\" content=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-11T13:55:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2FTrading-FailStation-OG.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"783\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Trading-FailStation-OG.jpg\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/\",\"name\":\"FailStation | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\"},\"datePublished\":\"2024-03-07T09:30:17+00:00\",\"dateModified\":\"2025-06-11T13:55:05+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":\"1\",\"name\":\"Products\",\"item\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/\"},{\"@type\":\"ListItem\",\"position\":\"2\",\"name\":\"Trading\",\"item\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/\"},{\"@type\":\"ListItem\",\"position\":\"3\",\"name\":\"Post-Trade Services\",\"item\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/\"},{\"@type\":\"ListItem\",\"position\":\"4\",\"name\":\"FailStation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FailStation | Bloomberg Professional Services","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/","og_locale":"en_US","og_type":"article","og_title":"FailStation | Bloomberg Professional Services","og_url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_modified_time":"2025-06-11T13:55:05+00:00","og_image":[{"width":783,"height":411,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2FTrading-FailStation-OG.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_image":"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&type=webp&url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Trading-FailStation-OG.jpg","twitter_site":"@theterminal","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/","name":"FailStation | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website"},"datePublished":"2024-03-07T09:30:17+00:00","dateModified":"2025-06-11T13:55:05+00:00","breadcrumb":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/failstation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":"1","name":"Products","item":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/"},{"@type":"ListItem","position":"2","name":"Trading","item":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/"},{"@type":"ListItem","position":"3","name":"Post-Trade Services","item":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/products\/trading\/post-trade-services\/"},{"@type":"ListItem","position":"4","name":"FailStation"}]},{"@type":"WebSite","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]}]}},"_links":{"self":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/pages\/8497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/users\/1857"}],"replies":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/comments?post=8497"}],"version-history":[{"count":10,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/pages\/8497\/revisions"}],"predecessor-version":[{"id":119707,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/pages\/8497\/revisions\/119707"}],"up":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/pages\/2635"}],"wp:attachment":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/media?parent=8497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}