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

Modelling

We have introduced a new feature to the Portfolio | Instrument Modelling analysis that allows for the enforcement of validation checks on confirmed proposals.

This functionality is customisable through system parameters, providing clients with greater flexibility.

• Enforce Validation Checks: When enabled, this parameter ensures that an order for a proposal is generated only if the necessary validation checks have been completed.
• Allow Orders for Failed Checks: This parameter determines whether an order can still be generated if a proposal fails the validation.
• Required Validation Checks: This parameter specifies which validation checks must be executed.

When a Proposed Order is Confirmed, it can then be validated via the Validate Confirmed Proposals feature. This updates the Executed and Failed Checks in the Confirmed Orders tab. The Confirmed Orders grid has been corrected to ensure the 'Executed Checks' and 'Failed Checks' columns are reset when a proposal is unconfirmed.

An enhancement has been introduced to the Modelling Analysis to indicate whether a holding has embargoes or trade prohibitions. A new column, ‘Has Prohibitions’, has been added to the analysis grid and will be ticked if there are any prohibitions or embargoes that could prevent the trade. Note that an ‘Allow’ prohibition overrides any 'Prohibit' entry, and an embargo overrides both.

Additionally, a new column, ‘Prohibition Notes’, has been added to display a combination of notes for all prohibitions and embargoes that could impact the trade. Furthermore, a new tab, ‘Embargoes and Trade Prohibitions,’ has been added to the Modelling View screen. This tab shows all embargoes and trade prohibitions for the portfolios in the analysis, including system-wide prohibitions.

The logic for Projected % and Confirmed % for Cash holdings has been updated. It now considers Proposed Orders for holdings when using the 'Rebalance Targets to Asset Sector' feature.

Order Notifications

New logic has been implemented in the Management Company static set up to determine how the ‘Is EFT Required’ logic is applied. The options are as follows:

• Per Instrument: ‘Is EFT Required’ will be set to true if any individual instrument’s Order Value total is positive.
• Per Batch: ‘Is EFT Required’ will be set to true if the Total Batch Order Value is positive.
• Never: For this Management Company, the flag will never be set to true, regardless of the Net Order Value.

Compliance

Several improvements have been made to the Pre-Trade Compliance checks to ensure a smoother and more consistent process. These enhancements create a more structured flow for the order life cycle, allowing traders to run pre-trade compliance checks without triggering order authorisation. This approach lets the Compliance Officer take responsibility for authorising the orders.

The following columns related to pre-trade compliance have been added to the Order Blotter:

• Compliance Status: Indicates whether the status is 'Not Checked', 'Pass', or 'Fail'.
• Compliance Date/Time: Displays the date and time when the compliance check was performed.
• Compliance Run By: Shows the user who executed the compliance check.
• Compliance Failure Reason: Provides the reason for authorising orders that failed compliance checks.

Ad-hoc compliance checks automatically update the order status if the order is not authorised. Once an order is authorised, the Compliance Status becomes fixed and remains unchanged even with further ad-hoc checks. If authorisation is reversed, the Compliance Status remains as Pass/Fail, but the authorisation reason is reset.

Additionally, 'Pre-Trade Compliance Status' criteria options have been added to the Order Blotter, enabling orders to be filtered based on their compliance status. This enhancement will assist Compliance Officers in identifying problematic orders.

FPM Mapping Sets

The existing mapping sets have been simplified to reduce complexity and improve usability. Previously, a new MappingSetType was required for each new import using a mapping set. The structural rework done reduces the number of MappingSetTypes, allowing a single mapping set type to be used across multiple imports.

By introducing the concept of a “Mapping Source,” the number of Mapping Set Types has been minimised. Mapping sets can now be linked to multiple “Mapping Sources,” enabling their use for different imports such as ASISA and PORTFOLIOREPLICATION. This approach simplifies the setup for clients, as they no longer need to duplicate and maintain multiple mapping sets for identical mappings but different imports.

Existing imports that utilize the mapping set type have been updated to use the mapping source instead.

Users can now see where "Multiple External to a Single Internal" mappings are applicable within a mapping set. The term "Mapping Set Relationships" has been renamed to "Linked Mapping Sets" for better clarity, and the "ExternalAssetManager" LinkType has been renamed to "ExternalAssetLookthrough" to more accurately describe its purpose.

External Fund Look Though Mappings

The External Fund mapping source now supports using the same external code for multiple internal instruments. This allows users to upload one external valuation that applies to several FPM internal instruments.

Enquiry

A new Accounting Rule Enquiry has been introduced, allowing users to view a selected subset of Accounting Rule Sets. This enquiry can be viewed in two ways:

• By Accounting Rule Set: Displays all rules for each portfolio type.
• By Accounting Rule Type: Shows all values for a specific rule across different portfolio types.

Additionally, when the enquiry is run for a specific portfolio, it will display any portfolio overrides.

Menu Changes

The 'Price Sets' menu has been relocated from 'Static Data | General' to 'Static Data | Market Data' for better logical alignment with other menus. Additionally, security permissions for the old menu item have been updated to link to the new menu item.

Scrip Reconciliations

A new Consistency Check Report, CC-222: Scrip Reconciliation Check, has been created. The CC-222 report can be included in a Report Pack and linked to a Consistency Check block within the Day Process or Pricing Workflow.

Fixed rate VCNCD

A Fixed Rate VCNCD can now be configured to use 'All Cash Flows to Maturity' as its Present Value Calculation Method in the instrument static settings. This adjustment ensures that the price model behaves the same as if it were a 'YTM Straight Line' Bond.

Client Portfolio Classifications

A new Portfolio Classification Update has been added. This import allows users to update existing Client Portfolio Classifications in the same manner as importing Instrument Classification updates. The import is only applicable to full releases and not incremental releases.

Mapping Set user documentation will soon be uploaded to the FPM Documentation website.

For a comprehensive list of changes included in this release (2024.2.3), please refer to the release notes website.