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

FRONT OFFICE AND ORDER MANAGEMENT

Orders – Completed without Trades (FSW85322)

A new Completed without Trades outcome has been added to Front Office orders for clients using FPM primarily as an order management and compliance platform, without needing trade posting into the back office.

Once an order has been authorised and released, users can now complete it without creating any trades or portfolio transactions. This is especially useful where an order has been successfully sent to a broker or administrator and the process should be considered complete in FPM, but no downstream trade booking is required.

This enhancement means:

- The order is treated as fully completed in the order book

- No trade is created

- No holdings are affected

- For unit trust orders that generate suspense transactions on release, the suspense transactions are automatically reversed

Orders completed in this way are excluded from trade creation and are not treated as incomplete orders.

Consolidated Order Import with Allocations (FSW87564)

A new Consolidated Orders Import has been introduced in Front Office to simplify the capture of pre-allocated orders from spreadsheet files.

This import allows users to upload orders and their allocations together on a single sheet, making the process easier for clients who need a practical, integration friendly way to bring allocated orders into FPM. This is particularly valuable for outsourced or TOMS style operating models where order instructions may be prepared externally and then imported into FPM for the normal authorise, release and trading workflow.

Imported orders and allocations are saved in FPM ready for further processing but are not automatically authorised or released.

NCD Trades – Compounded Rate Formula Defaults (FSW88369)

The Front Office trade screen has been improved for Negotiable Certificate of Deposit (NCD) trades.

Previously, the Use Compounded Rate Formula option defaulted to selected, which did not align with common market practice for NCDs and increased the risk of incorrect pricing, yields or accruals if users forgot to change it manually.

The trade screen now uses the setting defined on the relevant instrument or template. This means the default behaviour on the trade screen is aligned with the instrument setup, reducing manual intervention and helping clients avoid calculation errors during trade capture.

DATA PRIVACY, POPIA AND DATA RETENTION

POPIA Data Encryption and Deletion for Inactive Portfolios (FSW88400)

FPM now provides a clearer end-to-end process for handling inactive portfolios that are eligible for POPIA driven data removal.

The process follows two stages:

1. Eligible portfolios are first identified and encrypted through the Portfolio Encryption process
2. Remaining related portfolio data is then removed through a background purge process over time

Once encrypted, a portfolio is removed from normal FPM operations. Related CDM data is deleted as part of the process and audit information is retained to record what action took place and when. A scheduled purge then removes remaining portfolio-related data such as transactions, holdings and related historical records in the background.

This staged approach allows large volumes of historic data to be removed safely without disrupting normal production activity.

Inactive Bank Accounts – Field-Level Encryption (FSW88364)

To strengthen privacy compliance, FPM now encrypts sensitive bank account details when a bank account is deactivated.

When a user marks a bank account as inactive, they are warned that the sensitive account information will be encrypted. Once confirmed:

- the bank account is made inactive

- the sensitive fields are encrypted and no longer readable in normal use

If the account is later reactivated, the system automatically restores the original values. Existing validation around shared bank accounts remains in place, so encryption only occurs when the account is no longer in use by other linked portfolios.

This allows clients to protect dormant banking information without affecting active account workflows.

POPIA Report – Identify Portfolios Eligible for Encryption (FSW88692)

A new report, PO-ENC, has been added to help clients identify portfolios that may now be eligible for POPIA encryption.

By default, the report looks for portfolios terminated 60 months or more ago and not yet encrypted. It can also optionally check CDM portfolio relationships and highlight where linked active or ineligible portfolios prevent encryption.

This gives operations and compliance teams a practical way to identify candidate portfolios and understand why certain portfolios may still be blocked from the process.

REPORTING, ENQUIRIES AND OUTPUT OPTIONS

HTML Report Output (FSW87432)

FPM reporting now supports HTML as an output format.

Users can generate reports as HTML files, open them within FPM, or view them externally in a browser. HTML output is now handled correctly across normal report generation and merged workflow scenarios, eliminating earlier issues where HTML output was not fully supported.

This provides a more flexible output option for clients who want browser-friendly reports or who plan to embed report content into other communication channels.

Instrument Static Enquiry and Instrument Details Report – Look-Through Portfolio Fields (FSW88555)

The Instrument Static Enquiry screen and the Instrument Details (IN-DETAILS) report have been enhanced to include Look Through Client Portfolio code and name fields.

This gives users better visibility of linked look-through portfolio information directly in both enquiry and reporting outputs, reducing the need for separate lookups or custom SQL for this information.

PERFORMANCE AND ANALYTICS

Shadow NAV – TWRR Performance (FSW88127)

Time-Weighted Rate of Return (TWRR) performance can now be run for Shadow NAV portfolios.

Where transaction data exists, FPM uses those transactions in the performance calculation. Where holdings have changed but corresponding transactions are not available, FPM can estimate the cash flow movements from the holdings changes instead. This allows performance measurement to be produced for Shadow NAV portfolios even where transaction-level history is incomplete.

Additional improvements included in this enhancement:

- better handling of dirty data and recalculation triggers

- additional saved TWRR input fields for purchases, sales, income, contributions and withdrawals

- validation to prevent Shadow NAV and non-Shadow NAV portfolios from being grouped together in ways that would produce misleading results

This makes Shadow NAV performance reporting more practical and robust for clients using these portfolio types.

STATIC DATA

Accrual Instruments – Edit Display Fields (FSW88386)

Users can now edit the Display Name and Display Code for accrual instruments, provided they have the required security permission. This gives clients more flexibility to manage how accrual instruments are presented and is intentionally limited to display fields only, helping preserve control over accrual instrument setup.

CONSISTENCY CHECKS AND CONTROLS

Consistency Check for Residual Suspense Holdings (FSW88534)

A new consistency check report, CC-180, has been added to identify portfolios where suspense holdings remain even though all related orders for the suspense parent instrument have already been completed.

This helps identify situations where historic order timing or backdated activity may have left residual suspense holdings behind when they should have cleared to zero. The new check gives operations teams a way to proactively identify and investigate these exceptions before they cause downstream reconciliation or data-quality issues.

PLATFORM AND TECHNOLOGY

Upgrade to .NET 10 (FSW87532)

Starting with release 2026.2.2, FPM now requires the .NET 10 ASP.NET Core Runtime and .NET 10 Desktop Runtime on both application servers and client machines.

This upgrade aligns FPM with Microsoft’s latest Long-Term Support platform and keeps client environments current ahead of the .NET 8 end-of-support date. Clients planning their 2026.2.2 rollout should ensure that the required .NET 10 runtimes are installed as part of deployment preparation.

AI CAPABILITIES

Release 2026.2.2 marks the launch of FPM AI Services, our new framework for delivering practical, secure and well-governed AI capabilities directly within FPM. The first phase introduces the FPM AI Assistant and the FPM Compliance AI Assistant, with additional AI-driven capabilities planned for phased rollout over the coming months.

These capabilities will be available to hosted clients where the relevant AI modules have been enabled.

FPM AI Assistant (FSW88094)

A new FPM AI Assistant has been introduced directly inside the FPM application through a dockable chat panel. This gives users an embedded AI experience within FPM, allowing them to ask questions and interact naturally without leaving the application. The assistant supports conversational, multi-step interaction, making it easier for users to refine requests and get the information they need in context.

In addition to general assistance, the FPM AI Assistant is designed to help users with FPM product and workflow questions by drawing on product documentation to provide more relevant, contextual answers. Responses include references to the underlying source material, giving users greater confidence in the information returned. The assistant is also designed to use the most relevant documentation available for the client’s FPM version, helping keep guidance aligned to the user’s environment.

Key benefits include:

- direct access to AI from within FPM

- a conversational interface for natural, multi-turn interaction

- formatted, easy-to-read responses

- contextual help for FPM product and workflow questions

- answers supported by source-based references where applicable

- security and access control through existing role-based permissions

- full conversation auditing for governance and traceability

FPM Compliance AI Assistant (FSW88589)

A new FPM Compliance AI Assistant capability allows users to upload a PDF (e.g. regulatory requirements) and have the FPM Compliance AI Assistant propose compliance rules based on the document’s contents.

These proposed rules are brought into FPM in a controlled workflow with a Pending status, where they can be reviewed, edited, approved or rejected before becoming active.

Key benefits include:

- faster interpretation of lengthy regulatory documents

- AI-generated proposed compliance rules based on uploaded regulatory or mandate documents

- plain-English summaries to help reviewers understand each proposed rule

- review and editing in the normal FPM compliance rule interface

- controlled approval and rejection workflow

- full audit trail of the source document, proposal, reviewer decision and outcome

Only approved rules become active in compliance evaluation, allowing the FPM Compliance AI Assistant to support the compliance rule process while ensuring that human oversight remains firmly in place.

Looking Ahead

This is only the beginning of the FPM AI Services roadmap. Over the coming months, we plan to introduce further AI capabilities across areas such as imports, smarter in-application search and filtering, reporting, corporate actions and other workflow-driven user assistance.

Please follow the link below for more information on POPIA:

https://docs.fundamental.net/#/doc/96/popia

For a comprehensive list of changes included in this release (2026.2.2), please refer to the release notes website.