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

FRONT OFFICE, ORDER MANAGEMENT AND MODELLING

Portfolio Modelling – Flexible Reweighting Scenarios (FSW84630)

Portfolio Modelling now provides more flexible ways to reweight holdings and targets when analysing a portfolio.

The previous Rebalance to Asset Sector option has been replaced with a Reweighting selection, allowing users to choose how selected sectors are treated during modelling.

Users can now:

• model without reweighting, which remains the default behaviour
• reweight holdings and targets within one or more selected sectors so that they total 100%
• reweight all holdings and targets excluding one or more selected sectors, leaving the excluded sectors unchanged

The Asset Category selector now supports selecting multiple sectors. The selected reweighting option and sectors are saved with the Modelling View and are restored when the view is reopened.

Existing Modelling Views remain compatible. Views that previously used the Rebalance to Asset Sector option will continue to open using the equivalent selected-sector reweighting option.

This gives Portfolio Managers greater flexibility when modelling partial portfolio changes, without needing to manually recalculate weights outside FPM.

Portfolio Modelling – Exclude Prohibited and Embargoed Instruments (FSW89308)

A new Exclude Trade Prohibitions and Embargoes When Modelling option is available on the Front Office and Compliance tab in Portfolio Static.

When enabled for a portfolio, Portfolio Modelling automatically excludes instruments that are subject to an active embargo or a trade prohibition. The remaining benchmark constituents are then proportionally reweighted so that the benchmark continues to total 100%.

This is particularly useful for portfolios with mandate restrictions, where a broad market benchmark may include instruments that the portfolio is not permitted to hold or trade.

The option is disabled by default, so existing modelling behaviour is unchanged until it is enabled for a portfolio.

Pre-Trade Compliance – Controlled Trade Creation and Compliance Approval (FSW86422)

FPM now provides clients with greater control over trades that fail pre-trade compliance.

A new system setting, Require Pre-Trade Acceptance Before Trade Creation, supports a stricter compliance workflow for clients that require formal review before a failed trade can be posted to the back office. The setting is disabled by default, so existing client workflows remain unchanged.

COMPLIANCE AND CONTROLS

Active Breaches – Mark Breaches as Not Legitimate (FSW85999)

FPM now allows users to formally identify active compliance breaches that are not considered legitimate.

Active breaches can be marked as either Active or Not Legitimate. A reason is required when changing the status, and FPM records who made the change and when it was made.

This is useful where a breach continues to be detected but is known to be invalid because of, for example, a data-quality issue, instrument classification issue or another accepted exception.

The Compliance Evaluation results screen now includes a Status column and an Exclude Not Legitimate Breaches option, selected by default. This hides reviewed breaches from the displayed results without changing the underlying compliance evaluation.

The CC-045 Compliance Check report also includes an Exclude Not Legitimate Breaches parameter, selected by default. The Active Breaches report now includes the breach status and status-change information.

This provides operations and compliance teams with a controlled way to distinguish genuine active breaches from known exceptions, without removing the breach history or changing the underlying compliance result.

CORPORATE ACTIONS AND INSTRUMENT PROCESSING

CFD Dividend Processing through Corporate Actions (FSW85768)

Dividends on Contracts for Difference (CFDs) can now be processed through the Corporate Actions Manager.

When a CFD dividend event is processed, FPM automatically determines the correct transaction type for each portfolio based on its position on the Last Day to Trade:

• long CFD positions receive a CFD Dividend Income transaction
• short CFD positions receive a CFD Dividend Expense transaction
• portfolios with no CFD position do not receive a transaction

This removes the need to manually create CFD dividend income and expense transactions through the Transaction Batch Manager.

CFD dividend events are captured as normal dividend corporate actions against the CFD instrument. Users must configure an appropriate CFD dividend template without withholding tax, as CFD dividends in this release are processed at the gross amount.

Coupon-Bearing Instruments – Support for Short Final Coupon Periods (FSW88973)

Coupon-bearing instruments can now support a final coupon period that does not align with the normal coupon payment cycle or maturity date.

This enhancement addresses instruments with irregular final coupon periods, where the final coupon and book-close dates differ from the standard recurring coupon dates.

Two new fields are available on the relevant coupon-bearing instrument static data:

• Last Period Short Coupon
• Final Book Close Date

When configured, FPM creates the final coupon event at maturity even where the maturity date does not correspond to a normal coupon payment date.

Additional validation has also been added. If an instrument does not have a coupon payment date at maturity, FPM prevents it from being saved unless the short final coupon-period option has been configured.

This helps ensure that the final coupon accrual and payment are generated correctly at maturity, reducing the risk of missing income transactions for irregular fixed-income instruments.

GENERAL LEDGER

GL Take-On Postings Report (FSW89088)

A new GL Take-On Postings report, GL-TAKEON, has been added to support the General Ledger take-on process for portfolios.

When a portfolio is taken onto FPM, transactions dated on or before the portfolio’s take-on date do not generate General Ledger postings. Previously, users needed to construct the opening GL journals manually.

The new report derives suggested opening journal entries directly from the portfolio’s holdings as at the take-on date.

The report includes:

• holding book values
• accrued and purchased income
• settlement provisions for unsettled trades
• foreign-holding indicators and base-currency conversion
• a balancing Capital Employed entry
• debit and credit totals per portfolio, including a highlighted difference where the journal does not balance

Users can choose how accrued and purchased income is treated in the balancing entry:

• Capital Employed
• Income Earned Year to Date
• Retained Income

The report can be run for multiple portfolios and defaults to each portfolio’s configured take-on date, while still allowing a specific date to be supplied.

A corresponding cell-based report, GL-TAKEON-DS, is also available for export into an import-friendly format.

The report takes existing GL balances into account. This means it can be rerun after a partial take-on to suggest only the remaining entries, helping prevent duplicate opening journals.

REPORTING, ENQUIRIES AND OUTPUT OPTIONS

Price Rollover – Show All Errors in One Process Report (FSW89177)

The Rollover Prices Day Process block now collects and displays all price rollover errors in a single process report.

Previously, the process stopped at the first failed instrument. Users had to correct that instrument, rerun the process and repeat the process until all errors had been found.

The updated process now continues checking the remaining prices and produces a consolidated list of the instruments and validation errors that require attention.

This allows users to identify and correct all affected prices in one review, reducing repeated Day Process runs and making price-data issues easier to resolve.

Report Layout Designer – Improved Column Management (FSW89311)

The custom report layout designer has been enhanced to make wide report layouts easier to manage, particularly for reports with a large number of fields.

Three new actions are available from the column-header menu:

• Best Fit All Columns Resizes all layout columns to fit their content and headings in one action. The updated widths are saved with the layout.
• Delete Multiple Columns Opens a checklist of all layout columns, allowing users to select and remove several columns at once. Select All and Select None options are included to simplify large layout changes.
• Move Column To Position Allows users to enter the target position for a column, moving it directly rather than repeatedly selecting Move Left or Move Right.

Existing single-column delete and move-left/move-right actions remain available for smaller adjustments.

These changes make it quicker to create practical layouts from large data-source reports such as the Transaction Listing report.

UNITISATION AND FEES

Additional Unit-Class Fee Formula Functions (FSW89484)

Four new functions are available for use in Unit Class fee formulas:

• Class NAV (Prior Day)
• Class Capital (Prior Day)
• Class Cash Flows
• Class Capital Flows

The prior-day functions use the most recent class pricing record before the formula evaluation date.

The cash-flow functions use the class’s creation and cancellation activity in the pricing batch, including the relevant capital and income portions.

These functions give clients greater flexibility when defining performance fees and other fee calculations that depend on the previous day’s class values or current-day unit movements.

IMPORTS AND INTEGRATION

Import Feeds – Multiple Sources for the Same Import Definition (FSW89591)

The Automated File Imports menu option has been renamed to Import Feeds and enhanced to support files arriving from multiple locations.

Previously, an import definition combined both the file layout and the folder that FPM monitored. This meant that an import definition could monitor only one folder. Clients receiving the same file layout from different operational teams or external administrators had to duplicate the entire import definition.

An Import Feed now represents the incoming folder and processing configuration, while the import definition continues to describe the file layout.

This allows multiple feeds to use the same import definition while keeping each source separately identifiable.

Key benefits include:

• multiple folders can use the same import file layout
• users can add, edit and delete Import Feeds directly in FPM
• each feed can have its own incoming folder, archive folder, polling interval and enabled status
• import history records both the import definition and the feed that received the file
• changes take effect as soon as the feed is saved; no server restart is required
• existing automated imports are automatically converted into Import Feeds during upgrade

The new Expected File Name option supports fixed and date-based file-name patterns. For example, a pattern such as TRDownload{yyyyMMdd}.txt ensures FPM imports only the file expected for the current date, helping prevent old files from being processed again.

FPM also validates feed configurations to prevent duplicate or conflicting folder setups. For example, two feeds cannot monitor the same folder, and a feed cannot archive files into a folder monitored by itself or another feed.

Faster Yield Curve Yield Imports (FSW89633)

Yield Curve Yield imports have been optimised for large files.

Previously, FPM processed and saved each yield-curve entry individually. This could result in long processing times for daily imports containing thousands of yield entries.

The import process now handles entries more efficiently in batches, significantly reducing the time required for large Yield Curve Yield imports.

Testing indicates an improvement of approximately 15 seconds per 1,000 entries, making imports containing 10,000 or more entries substantially faster.

Equity Static Import – Look-Through Client Portfolio Support for ETFs (FSW89693)

The Equity Instrument Static Import now supports the Look Through Client Portfolio field for both:

• Unit Trust instruments
• Exchange Traded Fund instruments

The existing Look Through Client Portfolio column can be populated with an FPM portfolio code to link the instrument to the appropriate internal look-through portfolio.

Previously, this field was applied to Unit Trust instruments but was ignored for Exchange Traded Funds.

The import now validates the instrument type. If a Look Through Client Portfolio is supplied for another equity instrument class, the import fails for that instrument and explains that the field is only available for Unit Trust and Exchange Traded Fund instruments.

Existing Unit Trust import behaviour remains unchanged.

PRICING AND VALUATION

YTI Price Model Technical Improvements (FSW89475, FSW90074)

The Yield-to-Instrument price-model framework has been restructured to improve maintainability and support future enhancement.

The work includes improvements to the internal handling of resettable and coupon-bearing price models, as well as clearer calculation traces for resettable instruments.

There are no intended changes to YTI instrument pricing, yield, accrual or valuation results.

For users, existing YTI pricing behaviour remains unchanged. The primary benefit is a more maintainable and extensible pricing framework for future enhancements.

CASH MANAGEMENT

Multi-Account Cash Management and Settlement Routing

FPM now includes a new Cash Management module to support portfolios that use multiple settlement and cash accounts.

The module uses configurable, effective-dated rules to determine the appropriate account for eligible transactions, based on criteria such as portfolio, currency, instrument, issuer, broker and transaction type. Where no rule applies, FPM continues to use the portfolio’s normal default cash account.

Cash Management supports the routing of trade settlements, income events, fixed-deposit maturity proceeds and applicable Unit Trust EFT instructions. It also ensures that outstanding orders, settlement provisions and cash-flow forecasts reflect the correct settlement account.

New maintenance, import, audit, reporting and security capabilities are included to support the configuration and operational use of Cash Management Rules.

This enhancement improves automation, visibility and auditability for clients managing cash across multiple settlement accounts.

For a comprehensive list of changes included in this release (2026.3.2), please refer to the release notes website.