We’re excited to introduce the latest enhancements and features in our April release. Here are the key highlights for your attention.

DATA PRIVACY COMPLIANCE FUNCTIONALITY FOR INACTIVE PORTFOLIOS

We have introduced a new feature in FPM to enhance the security of your portfolio data. The encryption function, found under Static Data > Portfolios > Conversions > Encrypt Portfolios, allows you to select portfolios and set options to deauthorise or delink fee structures and bank accounts as of an effective date, followed by password protection.

• Encryption Process: The encryption date is recorded as the current date/time in the audit tables.
• Eligibility: The client portfolio must be inactive and have a termination date within the system parameter Portfolios/EncryptionMonths, currently set to 60 months (5 years).
• Irreversible Encryption: This process performs a one-way encryption of portfolio details, alternate codes, script accounts, safe custodian accounts, and CDM relationships, making them irrecoverable.
• Data Access: Once encrypted, portfolios are not viewable or retrievable in FPM or through any data sources or retrieval mechanisms.
• Linked Areas: Encrypted portfolios may still appear in other areas of FPM where they were previously linked, such as trade prohibitions. These links will display encrypted results and will not be discernible from the original data. Users may remove these links where possible, but some links necessary for calculations (e.g., bank account interest) may need to remain.

TERS FROM STRUCTURED PRODUCT INSTRUMENTS TO BE INCLUDED IN THE TER CALCULATIONS:

We have enhanced the TER calculation functionality to include the Total Expense Ratios (TERs) of underlying funds when portfolios invest in structured product instruments, not just UT instruments.

Key updates:

• Enhanced TER Calculation: Previously, the TERs of held/underlying funds were included in the calculation if a UT held another UT. Now, this functionality extends to structured product instruments of UT portfolios.
• New Price Types: We have introduced new price types, TER-EX-1YEAR and TER-EX-ANNUALIZED-1Y. These TER values are now directly written to the structured product instrument during pricing.
• Report Updates: When running the TER report for portfolios holding structured products, the report will retrieve and apply these TER values in the same way it does for held UT instruments.

NEW SYSTEM PARAMETER FOR ORDER ALLOCATION

We have introduced a new system parameter: FrontOffice/Orders/Allocation/ForceOrderAllocation. This parameter ensures that users allocate orders before authorising them.

Key details:

• Default Setting: The parameter is set to false by default.
• Usage Scenario: In cases where orders need to be allocated to portfolios before trading, this parameter can be set to TRUE.

This new parameter helps streamline the order allocation process, ensuring that all necessary allocations are completed before authorisation.

ENHANCED ORDER NOTES FUNCTIONALITY

We have updated the functionality for order notes, allowing users to edit notes on an order regardless of its state. Notes will only be disabled once an order is traded and posted.

NEW FLAG FOR CALL ACCOUNT SETUP

We have introduced a new flag in the call account setup, allowing users to choose whether the payment date accrual should be included in the call account reinvestment or not.

SUPPORT FOR T+1 PRICES IN REFERENCE PRICED INSTRUMENTS

We have added support for T+1 prices when referencing Yield-Traded Instruments.

Key details:

• New Flag: When setting up reference pricing, you can now select the 'Use T1 Price' flag if the referenced instrument is Yield-Traded. This flag is not available if the referencing instrument itself is Yield-Traded.
• Price Calculation: When this flag is enabled, the system will use the T+1 Closing Price of the referenced Yield-Traded instrument to generate the new price close, instead of the T0 Closing Price.
• Applicable Instruments: This flag can be applied to Futures, Options, Shares, Indicator, or Interest Rate Benchmark instruments.

NEW REPLYTO FIELD IN EMAIL TEMPLATES

We have introduced a new ReplyTo field in email templates. This feature allows users to set a specific reply-to address, ensuring that email replies are directed to the correct address, independent of the From address.

ERROR HANDLING FOR "CALCULATE SL ACCRUAL PRICES"

We have improved the error handling for the day process block "Calculate SL Accrual Prices". The block no longer fails if a single instrument encounters an error. Instead, the block state is set to "Qualified Pass", and errors for each instrument are displayed in the process report under the new "errors" tab.

LOOK THROUGH CONTROL FOR HOLDINGS ENQUIRY AND SARB D427 REPORT

We have made the look through control in the holdings enquiry more intuitive and extended this functionality to the SARB D427 report. This enhancement allows for easier selection of various look through options on the report.

Key changes include:

• Statutory USPs Update: The statutory USPs [usp_ClientPortfolios_HoldingsAsAt_Statutory_D427] and [usp_ClientPortfolios_HoldingsAsAt_Statutory] have been updated.
• Parameter Adjustments: The @ExplodeLookThrough parameter now accepts the bit flag for look through selections, similar to the holdings range. Additionally, the parameters @ExplodeLookThroughLevel and @CollapseLookThrough have been incorporated.
• Report Updates: The look through control has been added to all reports that 'Explode assets', and the report SRRS file or report SQL has been updated to match this change. The affected reports are PH-HOLD, PH-HS, PO-AA, PH-FOREIGN, PH-CGINST, and ASISA-VAL.

USER SECURITY OPTIONS FOR INSTRUMENT FEE SCALES

We have enhanced the user security options for Static Data > Fees > Instrument Fee Scales. Users now have abilities to add, edit, delete, view, edit history, and activate working copies of instrument fee scales.

This enhancement provides greater flexibility and control over managing instrument fee scales.

YTI FUTURE ACCRUALS ENQUIRY AND YIELD PRICE CALCULATOR

We have made updates to the Yield Price Calculator and YTI Future Accruals Enquiry to better support Overnight Compounding Rate (OCR) instruments, especially in scenarios where future rates are unavailable.

• Yield Price Calculator: A new flag, "Use Latest Available OCR", has been added. This allows users to check prices into the future for OCR-linked instruments, even when reference rates for the specified date are missing. When enabled, the system will use the most recently available rate, either from existing data or derived from underlying information. Please note that prices may not be fully accurate, as they are based on the last known rate rather than actual future rates.
• YTI Future Accruals Enquiry: This has been updated to function as expected for OCR-linked instruments. It now applies the latest available rate, ensuring that future accrual calculations proceed without failure. This helps maintain visibility of rate spikes on book close and coupon dates, providing a more consistent view of expected accrual behaviour.

INTEREST ACCRUALS TO AFFECT MARKET VALUE OVER WEEKENDS

We have introduced a new parameter in the 'Interest on Cash Instruments' pricing block to ensure that interest accrual transactions can reflect in the holdings on the transaction date if required. This parameter is set to default to the Price Date.

Previously, interest accruals on cash instruments held by MV UT shifted the valuation date of accruals over the weekend to Monday. This enhancement ensures that interest accruals are accurately reflected in the market value over weekends if the parameter is set to Transaction Date.

NEW REPORTS FROM OTC TRADES DATA SOURCES

We have added the Front Office OTC data sources to the list of available reports in FPM. The new reports include:

• FO-OTC-TRADES
• FO-OTC-ALLOCATIONS
• FO-OTC-TRANSACTIONS

For a comprehensive list of changes included in this release (2025.2.1), please refer to the release notes website.