We are pleased to share the latest enhancements included in our August release.
Below is a summary of what’s new in this release.

FRONT OFFICE, FIX AND COMPLIANCE

OTC Trades – Improved Pre-Trade Compliance Controls and Audit Trail (FSW86541 & FSW81934)

Pre-trade compliance for OTC trades created from instrument templates has been enhanced to provide stronger controls and clearer visibility during the verification and approval process.

Where enabled, FPM can now create the instrument first and then run pre-trade compliance when the OTC trade is verified. This allows users to review any compliance results before the trade progresses for approval.

The OTC trade screen also provides improved compliance information, including:

• Compliance status, such as Not Checked, Pass or Fail
• When the compliance check was run
• The user who performed the check
• The reason recorded where a compliance failure is authorised

For clients that choose to defer the compliance check, FPM will ensure that pre-trade compliance is performed when the trade is approved. Trades with unresolved compliance failures cannot be approved unless the relevant authorisation has been provided.

This improves governance, gives approvers visibility of the checks already performed, and helps ensure that template-based OTC trades are subject to the appropriate compliance controls.

FIX Allocations – Separate Routing for Orders and Allocations (FSW87555)

FPM now supports a more flexible FIX setup for clients using a staging FIX connection for order routing and trade fills, while sending post-trade allocations through a separate direct FIX connection.

This supports workflows where orders are staged through one platform or execution-management system, but allocations need to be sent to brokers through another FIX network.

The enhancement also improves FIX message logging, making it easier to see the relevant connection, processing flow and tenant details when investigating messages.

Pre-Trade Compliance – Focus Checks on the Instrument Being Traded (FSW87565)

FPM now provides an optional Instrument Scoped Evaluation setting for pre-trade compliance.

When enabled, pre-trade compliance evaluates only:

• Rules that include the instrument being traded; and
• Rules in categories configured to always be included in pre-trade compliance. This helps prevent users from seeing compliance failures that relate only to unrelated holdings in the portfolio when entering an order. For example, when placing an order for one share, a breach relating solely to a different shareholding will not be included unless its rule category has been marked as always required.

Impact for users: This can make pre-trade compliance results more focused and easier to action, while allowing clients to retain mandatory portfolio-wide checks through rule-category configuration.

The feature is optional and is activated through the new PreTradeInstrumentScopedEvaluation system setting.

FIXED INCOME AND INSTRUMENT VALUATION

ZARONIA Floating-Rate Note Valuation (FSW84926)

FPM now provides an additional valuation option for qualifying ZARONIA-linked floating-rate notes.

For instruments configured to calculate cash flows using a forward rate curve and value cash flows using a yield curve, users can choose to calculate the current coupon period using the applicable yield curve rather than the overnight compounded rate.

The option is available only where the instrument has the required fixed-income configuration, helping to ensure that it is used appropriately. This provides greater flexibility for clients whose ZARONIA valuation methodology requires the next coupon to be derived from the yield curve.

Fixed Deposits – Include Pay-Date Accrual in the Payout (FSW88779)

FIXEDDEP instruments can now use the Payment Includes Pay Date Accrual option already available for call accounts.

When selected, the accrual for the payment date is automatically included when the payout calendar event is processed. This removes the need to reverse and reprocess accruals around a payment date and prevents a residual one-day accrual from remaining after payout.

The setting is optional and defaults to off, preserving existing behaviour unless clients choose to enable it for the relevant fixed-deposit instruments.

SHADOW NAV AND PORTFOLIO PROCESSING

Shadow NAV – Import Replicated Transactions (FSW85324)

The Portfolio Transactions import has been enhanced for Shadow NAV portfolios to support transactions that are required for performance reporting but should not affect holdings or valuations.

Users can now identify imported transactions as replicated and optionally specify the replication date. Where no replication date is supplied, FPM uses the transaction date.

This is particularly useful where externally executed transactions need to be retained for complete TWRR performance measurement, while the Shadow NAV portfolio’s holdings remain unaffected.

Shared Bank Accounts – Faster Cash Interest Recalculations (FSW88581)

Cash interest accrual processing has been improved for clients with a large number of portfolios linked to a shared bank account.

Previously, recalculating cash interest across a large shared account population could take a long time or exceed system time limits. FPM now processes these recalculations in manageable batches, allowing work to be completed more efficiently and reducing the impact on normal operational activity.

A new configuration setting allows the number of portfolios processed in each batch to be controlled.

This enhancement is particularly relevant for omnibus and shared-bank-account operating models with large portfolio populations.

CORPORATE ACTIONS AND AI

Corporate Action Assistant (FSW88647)

A new Corporate Action Assistant helps users interpret corporate-action notices and create draft corporate actions for review.

Users can paste a notice or upload a text or PDF document. FPM then proposes:

• The corporate action type
• The affected instrument
• Relevant key dates
• The financial and holding effects of the action, such as income, capital, withholding tax or instrument changes

The proposed action is presented for user review before it is saved. Once saved, it follows FPM’s existing corporate-action verification and approval process.

The assistant also supports bulk processing of notices held in a folder, allowing users to review multiple proposed actions together while retaining control over what is ultimately saved and processed.

This capability is designed to reduce manual interpretation effort while maintaining the established review, approval and audit controls.

REPORTING, DATA SOURCES AND OPERATIONAL OVERSIGHT

Web Services – Report Parameter Overrides (FSW85887)

External systems calling FPM reports can now supply parameter values at the time a report is requested.

This allows integrations to run a single report instance for different dates, portfolios, code lists or date ranges, rather than requiring a separate report instance or report pack for every variation.

For example, an external administrator can request a report for a specific portfolio and pricing date, with FPM validating the supplied values before generating the report.

Existing integrations remain compatible. Calls that do not provide parameter overrides continue to work as they did previously.

CC-045 – Use Constituent Weighting for Look-Through (FSW88720)

The CC-045 Compliance Check report now includes the same Look Through Options selector available on the Portfolio Holdings report.

This includes the Use Constituent Weighting option, allowing clients to apply constituent weighting when reporting on look-through holdings.

Existing report packs and scheduled reports retain their current saved look-through settings after the upgrade.

ASISA Valuation and Instrument Static Reports – Full Instrument Codes (FSW88773)

The ASISA Valuation and Instrument Static reports now provide both:

• Instrument Code – the full instrument code; and
• ASISA Instrument Code – the 16-character code required for ASISA-compliant output.

Impact for users: There is no visible change for clients using the standard ASISA report layouts, as these layouts continue to use the 16-character ASISA Instrument Code.

Clients using custom report layouts that explicitly selected Instrument Code will automatically receive the full instrument code the next time their report is run. No report layout changes are required.

Price Release Instruction Reports (FSW89079 & FSW89080)

Two new reports provide improved visibility of unitisation price-release activity:

• UT-PRICERELEASE-BATCHES – Price Release Instruction Notification Batches
• UT-PRICERELEASE-INSTR – Price Release Instructions

These reports make it easier to review price-release processing, including batch details, status, users involved in processing, related portfolios and instruments, bulk pricing batch details, notification batch status and held-back reasons.

They provide report-based access to information previously primarily available through operational screens.

Bulk Pricing Batch Audit Summary Enhancements (FSW89081)

The UT-BPAUDITSUMMARY-DS data source has been enhanced to provide a clearer audit trail for bulk pricing batches.

New fields include:

• Batch description
• Created by username
• Approved by username
• Actioned by username

The completed-count calculation has also been corrected. This improves reporting on who created, approved and actioned bulk pricing batches.

Fee Evaluation Data Enhancements (FSW89103)

The Fee Evaluations data source has been enhanced with additional information available in the Fee Accruals enquiry.

This gives clients more data for fee-analysis reports and helps align report output more closely with the information available to operational users in FPM.

Unitisation Listing – Currency Identifier (FSW89104)

The Unitisation Listing data source now includes the Currency ID associated with the unit class.

This additional field supports enhanced custom reporting and integrations that require the currency identifier alongside existing unitisation data.

CC-009.1 – Select Specific Cash Holdings (FSW89588)

The CC-009.1 Interest Accrual Processing Check report now includes an optional instrument selection.

Users can limit the report to selected cash holdings, such as specific ZAR accounts, to identify holdings with a non-zero balance where an interest accrual has not been calculated for the selected date.

The selection applies to the underlying cash holding that generates the accrual. If no instruments are selected, the report continues to run as before.

USABILITY

Portfolio Structure – Display the Selected Portfolio Name (FSW88704)

The Portfolio Structure screen now displays the selected portfolio name in the form title.

This makes it easier to identify the portfolio currently being reviewed, particularly when several portfolio screens are open.

PLATFORM AND COMMUNICATIONS

Azure Communication Services for FPM Email (FSW86681)

FPM now supports Azure Communication Services (ACS) as an additional method for sending outbound email.

Clients can configure ACS as an alternative to SMTP. When ACS is enabled and configured, FPM sends email through the client’s ACS service. If ACS is not enabled or configuration details are unavailable, FPM automatically continues to use the existing SMTP or OAuth2 email configuration.

This provides a modern API-based email-delivery option while ensuring that existing email setups continue to operate without change.

For a comprehensive list of changes included in this release (2026.3.1), please refer to the release notes website.