We are pleased to introduce the latest enhancements and features in our first release of 2025. Below are the key highlights for your attention.

Upgrade to .NET 8

We are excited to announce that the FPM solution has been upgraded to .NET 8. While all functionalities should continue to operate smoothly, we want to highlight some significant changes. The client/server communication layer has undergone substantial changes. The previous data packaging approach for network transfer, deprecated in .NET 6, has been entirely removed in .NET 8. As a result, we have implemented a new approach to ensure seamless data transfer. Due to breaking changes in underlying library upgrades, it is crucial that clients conduct end-to-end testing to ensure everything remains as expected. Although we have thoroughly tested these changes, it is important that clients perform their own testing to verify system functionality. Please also note that the FPM Client auto-update will not work.

Windows 11

We have successfully addressed the compatibility issue between Fundamental Portfolio Manager (FPM) and Windows 11 24H2. This issue arose due to a change implemented by Microsoft in the short date format abbreviation for September. Previously, the abbreviation used was "Sep," but in Windows 11 24H2, this was changed to "Sept."

Support for ZARONIA

To support the adoption of the South African Overnight Index Average (ZARONIA) as an alternative reference rate, we have introduced system updates that enable overnight compounding rates for resettable Yield Traded instruments. This functionality is controlled by a new system parameter, which is turned off by default and needs to be activated to utilise this feature. Additionally, it is now possible to use the OCR Linked Resettable for a Total Return Swap. Repurchase Agreements and Buy Backs are currently restricted from using Compound Rate Yield Traded Instruments as the underlying instrument. Future updates will explore expanding this functionality to include these instruments.

Cash Reconciliations and Auto-Match

We've made significant improvements to enhance the efficiency and performance of cash reconciliations and the auto-match process. These enhancements include various changes to speed up the loading of cash reconciliations in the manager screen, optimising the performance of the auto-match functionality, and making the auto-match processing asynchronous for smoother and faster operations. These updates aim to provide a more seamless and efficient experience for users utilising the cash reconciliation.

Fee Payments Process

We are excited to announce a new method for processing fee payments that addresses previous issues with manual adjustments and linkage to fee structures. The updated process separates fee payments from fee structures, basing them on the exact holding balance of a fee instrument as of a selected date. This allows for flexible manual adjustments throughout the month, ensuring accurate final payments that reflect the outstanding balance. The 'Fee Accrual' menu now exclusively handles accruals while all payments are processed through the 'Fee Payments' menu. This new method, controlled by the 'Fees/Payments/UseHoldingBalance' parameter, is active for new clients and will be individually enabled for existing clients. Additional features include a balance date comparison option for expected payment dates, a configurable day process step in workflows, and the new Report CC-048 for checking fee payment statuses. Please note, 'Weekly' and 'Specific Date' options have been removed from the Payment Period setup, and the payment preview now checks for existing transactions to avoid overpayments.

Bancs Import Process

We've made important updates to the Bancs Import process. The legacy RMB Bancs Holdings import file is now renamed to Bancs Holdings import. When importing the Bancs file with the new template name via the Integration/Import files menu, users will be redirected to the Transactions/Scrip Reconciliations screen to complete the import. MT535 Holdings or RMBBancs Holdings imports require a Safe Custodian counterparty when importing the Holdings file via the "Integration | Import file" menu option. If no valid Safe Custodian counterparty is specified, the import will fail with an error message.

External Trades Transaction Batch Manager

In the Shadow NAV and Trade Order Management business models for Administrators, clients often execute trades in external systems but do not have access to the Transaction Batch Manager in FPM. These trades need to be sent to the Administrators to update the back-office system.

The External Trades Transaction Batch Manager provides a platform for users to capture external trades in FPM via the Front Office capabilities. This solution is accessible through a new menu item, FrontOffice/Blotter/External Trade Batch Manager, which opens the existing Transaction Batch Manager with the Batch Type set to External Trades. The existing security permissions for the Transaction Batch Manager are used. A Batch Type selection has been added to filter for External Trades.

Currently, trades are captured via the UI, but importing functionality will soon be available through the Collated Portfolio Transactions import for tenants, with a BatchType column added to identify External Trades. Additionally, a new system parameter, Transactions/VerifyReplicatedStatusOfTransactions, has been introduced. If set to true, the Replicated Status of Portfolio Transactions must be unmarked as replicated before the Transaction Batch can be reversed. If set to false, the Replicated Transactions are deleted, and the Transaction Batch is reversed.

Modelling: Customisable Tabs

Users can now specify which tabs to show by selecting checkboxes in the new 'Tabs' options. These settings are stored individually per modelling view and are automatically applied when the view is opened.

Transaction Types

To accommodate primary bond purchases without trade time fees, we have expanded the Buy No Fees and Sell No Fees transaction types to include Bond, Variable Coupon Bond, and Variable Coupon NCD instrument classes. These transaction types are available in both the batch manager and front office, ensuring that no trade time fees are calculated when processing purchases or sales.

Instrument Static UIs

To improve performance and usability, we've updated the Instrument Static UIs. Previously, these UIs loaded all instruments up front, which became slower and less useful as the list of instruments grew. Now, the instrument list will not auto-populate when opened, aligning with other UI screens in FPM. This change ensures a more efficient and user-friendly experience, allowing users to focus on specific instruments without unnecessary delays.

Holding Company UI Control

To improve performance and user experience, we've updated the Holding Company UI control on Instrument Static. Previously, it prepopulated a selection list with all security instruments, which could be slow for clients with thousands of instruments, especially if they weren't cached yet. Now, the holding company control will no longer load all instruments upfront but will rely on the selection control loading instead.

Portfolio Status Enhancement

We have introduced a new status, Inactive_Permanent, for Portfolios. Once a portfolio is set to Inactive_Permanent, its status cannot be changed via the UI or imports. Clients should be aware of this restriction when applying the status. This enhancement provides an additional layer of control and security for your portfolio statuses.

Unexcor Code Field

The 'Unexcor Code' field from the Portfolio Custodian Details has been added to the fn_SafeCustodianBrokers_Listing data source, enabling its use in custom reports.

Derivative Import Enhancement

We've added the Nominal Decimal to the derivative import. This enhancement ensures more precise data handling.

Custom Reports and Queries

To enhance custom reports and queries, we've added new fields to usp_Instruments_Listing_Details for swap instruments. These fields include Maturity Date, Issue Date, Swap Type, Days To Maturity, Payable Leg Id, and Receivable Leg Id. This update provides customers with more comprehensive details for better analysis and reporting.

Data Source Functions Update

We have transitioned the following data source functions to the legacy schema: [fn_Instruments_Listing], [fn_Instruments_Listing_Dated], [fn_Instruments_Listing_Details], and [fn_Instruments_PriceOverwriteAudit]. These functions have been replaced with a data source stored procedure optimised for technical performance, resulting in a 50% reduction in run times for data sources that use them, including the ASISA instrument static report. Any reports that previously used the legacy data source functions have been upgraded to use the stored procedure, including custom user reports. Clients need to be aware: if the report SQL of the custom report changes prior to upgrade, the upgrade will fail, and we will need to update the delta with the new content of the SQL.

Banner Notifications

We've enhanced our banner notifications to include action buttons, enabling users to swiftly view results or address error conditions, such as re-running tasks. These buttons are synchronised with those in the task pane, ensuring a seamless user experience.

Imports: User and Tenancy Limitations

While there have been no changes to the actual import operations, two important updates are relevant to users. Firstly, imports are now linked to modules, and the Template Generator will display only the imports relevant to active modules. Secondly, in multi-tenanted environments, tenant users are now restricted to a predefined list of imports. Please consult release notes log FSW81474 for the list. These changes ensure that both administrators and tenant users can manage imports securely and without unintended system-wide impacts.

The Portfolio Monthly Returns (PO-MR)Report

The report now shows data only for months that occur after the earliest portfolio start date in a group or node. This ensures that the report accurately reflects the correct period based on portfolio inception.

Please follow the below link for more information on ZARONIA and Fee Payments:

ZARONIA

Fee Payments

For a comprehensive list of changes included in this release (2025.1.1), please refer to the release notes website.