With a long standing, succe-ssful track record in deliveringa comprehensive range ofmarket leading solutions forthe financial sector, we have adeep understanding of thecomplexity of our cl ients’operations, their specificbusiness environment as wellas their present and futurerequirements. Leveragingfrom this experience, wedeliver effective and efficientsystems which power some ofthe llaarrggeesstt ffiinnaanncciiaall oorrggaannii--zzaattiioonnss.. Our clients rely onPROFILE’s systems and servicesto improve their processes,enhance their operationalefficiency and to capitalize ongrowth opportunities.
AA rreeccoorrdd ooff ggrroowwtthh
PROFILE has achieved impre-ssive growth over the last 15years and ranks among themost profitable Greek soft-ware companies. Listed onthe Athens Stock Exchange(ASE:PROF) it has beenincluded among Europe’s 500fastest growing companiesfor three consecutive yearsand is a ssoolliidd ccoommppaannyy wwiitthhrroobbuusstt ffiinnaanncciiaall ffoouunnddaattiioonnss..Strong leadership, customerfocus, multi-disciplinary skills,reliability and a commitmentto excellence characterize thecompany’s culture.
Our mission is to provide ourcustomers with cost effective,state of the art products andservices, to enable them toimplement ssttrraaiigghhtt--tthhrroouugghhpprroocceesssseess to bbeetttteerr sseerrvvee andrreettaaiinn their clients. We employhighly trained, specialisedand motivated people todeliver oouuttssttaannddiinngg consu-lting, implementation andtraining services.
SSttrraatteeggyy
We offer innovative solutionsto our customers with productsthat can either ssttaanndd aalloonnee orbe iinntteeggrraatteedd across theenterprise, while maintainingthe highest standards ofreliability and accuracy. Weconstantly expand our productrange, innovate in new areasand have bbuuiilltt ppaarrttnneerrsshhiippssaanndd aalllliiaanncceess which assist us inimproving our vvaalluuee pprrooppoo--ssiittiioonn to our customers’ be-nefit.
SSoolluuttiioonn ddrriivveenn iinnvveessttmmeenntt ppllaattffoorrmmMany financial institutionshave acquired over the yearsseveral products, from varioussoftware vendors with over-lapping functionality, that inmost cases require extensiveintegration efforts and substa-ntial cost of ownership toaddress the organisation as awhole.
IMSplus iinntteeggrraatteess aanndd aauuttoo--mmaatteess the daily processes andwwoorrkkfflloowwss ooff aann aasssseett andiinnvveessttmmeenntt mmaannaaggeemmeenntteennttiittyy,, ranging from FrontOffice trading and clientservicing, to Middle Office RiskManagement and PerformanceMeasurement, to Back Office
settlement, payments andreporting. The system, on assiinnggllee ppllaattffoorrmm,, covers thewhole spectrum of InvestmentManagement operations in awwiiddee vvaarriieettyy ooff sseeccttoorrss, likePrivate Banking and WealthManagement, Affluent andRetail Investment, Asset, Creditand Collaterals Management,Insurance, Pension and MutualFund management and more.
IMSplus functionality resultsinto iimmmmeennssee rreedduuccttiioonn oonnccoosstt stemming from misde-aling, settlement problems andfailures in asset reconciliation,while providing value addedservices.
MMuullttii pprroodduucctt ssuuppppoorrttIMSplus supports an eexxtteennssiivveerraannggee ooff iinnssttrruummeennttss andproducts, including ñ Equities,ñ Bonds ñ Repos, ñ Derivatives,ñ Warrants, Cash Stock Opti-ons ñ FX ñ Swaps and more.Within IMSplus, a pprroodduuccttccoonnffiigguurraattoorr allows for thedefinition of new products andinstruments.
CCuussttoommeerr cceennttrriiccIMSplus links all informationrelating to an individual’saccounts to provide on lineupdates and reports about thestatus of orders, portfolio po-sitions and cash balances. Acustomer may have severalindependent portfolios orbelong to a group of customerssharing a management co-ntract. Being ccuussttoommeerr cceennttrriicc,,the system through its specialmodules caters for all MMiiFFIIDDCompliance requirements andcontinuously evolves with thebusiness sector.
MMuullttii lliinngguuaall aanndd mmuullttii ccuurrrreennccyyIMSplus is an InternationalPlatform and as such it offersmulti lingual capabilities andllooccaalliissaattiioonn ttoo ssuuppppoorrtt aannyyccoouunnttrryy ssppeecciiff iicc bbuussiinneesssspractices as well as statutoryand regulatory requirements.IMSplus supports mmuullttii ccuurrrree--nnccyy trading, settlements andaccounting and managesforeign currency positions andexposure.
MMuullttii cchhaannnneell ccoommmmuunniiccaattiioonn IMSplus is capable of co-mmunicating with Markets viathe FFIIXX and SSWWIIFFTT pprroottooccoollss..The process provides a robust,reliable system that eliminatesdelays and mmiinniimmiisseess tthhee eerrrroorrmmaarrggiinn inherent in the tradingprocess.
IMSplus supports various typesof delivery channels including:
ñ Web based access.ñ Windows desktop
environment.ñ Call Centres.
FFaasstt && eeffffeeccttiivvee iimmpplleemmeennttaattiioonnIMSplus is available in pre-configured formats to suit theneeds of bbaannkkss,, iinnssuurraanncceecompanies, aasssseett mmaannaaggeemmeennttand iinnvveessttmmeenntt firms, bbrrookkee--rraaggee houses, mmuuttuuaall aannddppeennssiioonn ffuunndd companies andfund managers. AA ccoommpplleetteessoolluuttiioonn ppeerr ssppeecciiffiicc ttyyppee ooffccuussttoommeerrss,, ppeerrmmeeaatteess tthheessyysstteemm’’ss ccoorree aattttrriibbuuttiioonn.. Thepre-configured versions ofIMSplus facilitate fast imple-mentation with minimumproject risk and cost.
AAccccoouunnttiinngg ffuunnccttiioonnssIMSplus supports al l therequirements set out by IIAASS3399and IIAASS3322 for Initial Reco-gnition and Measurement ofFinancial Instruments fullycomplying with the rules andguidelines of IIRRFFSS.. Furthe-rmore, the system providesffuull ll ff lleexxiibbii ll iittyy faci l itatingaccounting entries for multi-ple accounting plans.
MMore than an Investment Management SystemIMSplus is a modern investment management system that offers extended functionality for all types of financialinstitutions. In a flexible and integrated environment, IMSplus maintains a repository of knowledge on products,customers and associates, facilitating multi dimensional decision-making.
TThe Complete Investment Management SolutionIMSplus has been designed as a single, flexible platform that can accommodate the requirements of any business in the financial services industry through a single interface while it can be ccuussttoommiisseedd to every institution’s specific needs and practices.
As a Financial Institution’s requirements change so does the software it is using. With IMSplus, financial institutions can rreesstt aassssuurreedd that the system will satisfy their present and accommodate their ffuuttuurree nneeeeddss wwiitthh rreelliiaabbiilliittyy.. The system is ready to be used in any vveerrttiiccaall mmaarrkkeett while offering HHoorriizzoonnttaall iinntteeggrraattiioonn and functionality.
As the system grew with our clients’ needs and market demands, it has reached the level of CCoommpplleettee IInnvveessttmmeenntt MMaannaaggeemmeenntt SSoolluuttiioonnfor every vertical financial sector.
MModular Structure
FFRROONNTT
MMIIDDDDLLEE
BBAACCKK PORTFOLIO BACK OFFICE
INTERFACES
CUSTODY
PERFORMANCE RISKCRM
Integration
M/F IFRS
PORTFOLIO FRONT OFFICE WebIMSplus
CO
MPL
IAN
CE
FX MARGIN
WWealth Management & Private BankingFlexible and Powerful MiFID compliant Portfolio ManagementIMSplus Wealth Management and Private Banking Solutions are built to meet the highest standards and requirements of Private Banks and Wealth Management Divisions of Banks, seamlessly complementing corebanking systems. The system provides all functions, from Front to Middle and Back Office for managing Clientsand Portfolios along flexible and powerful Investment management strategies.
CClliieenntt aanndd ppoorrttffoolliioo pprrooffiilliinngg,, mmooddeelllliinngg,,aannaallyyssiiss && ooppttiimmiizzaattiioonnThe solution complements acore banking system (e.g.PROFILE SPECTRUM), by sea-mlessly integrating with it anddelivering the tools toaccommodate all forms ofPPrriivvaattee BBaannkkiinngg aanndd WWeeaalltthhMMaannaaggeemmeenntt ooppeerraattiioonnss,, suchas executionary, advisory andddiissccrreettiioonnaarryy mmaannaaggeemmeenntt,,along with each client’s profileand requirements. The systemcovers extensively ffrroonntt aannddmmiiddddllee ooffffiiccee operationsrelated to managing client,investment models and pro-files, while complying with theMMiiFFIIDD standards.
PPeerrffoorrmmaannccee aattttrriibbuuttiioonn,,rriisskk aannaallyyssiiss,, ccoommpplliiaanncceeaanndd rreebbaallaanncciinnggIMSplus includes flexible andpowerful components andfunctions to support the fulllifecycle of Portfolio Mana-gement, from PPrrooffiilliinngg aannddTTrraaddiinngg,, ttoo PPeerrffoorrmmaannccee mmeeaa--ssuurreemmeenntt aanndd AAttttrriibbuuttiioonn,,RRiisskk analysis including VVaaRRaanndd sseennssiittiivviittyy ccaallccuullaattiioonnssand finally to Rebalancingalong the provided portfoliosmodels. Processing of theabove, is performed followingccoommpplliiaannccee rruulleess that can beset-up through an easy to useyet powerful rules editor, thusimplementing both companyas well as portfolio modellingand profile strategies.
EExxtteennssiivvee ccoovveerraaggee ooff iinnssttrruummeennttss ffrroomm ffrroonntt ttoo mmiiddddllee && bbaacckk ooffffiicceeThe Relationship Manager,using the wide range of toolsprovided by the system tomanage contacts, clients andportfolios has a wide range ofinstruments available topromote and use ccrreeaattiinngg vvaalluueettoo ccuussttoommeerrss.. Instruments suchas equities, funds, governmentand corporate bonds, treasurybills, discount notes, deposits,repos, FX and swaps, deri-vatives and synthetic products,along with ones that can be setup parametrically in the system,are evaluated and measuredfor risk and performance at themiddle office and their transa-ctions cleared and settled withSTP processes at the backoffice.
AAffluent Customer & Personal Banking
Secure, flexible and powerful Investment Management Servicesthrough branches, agent networks, the internet and other channels
Using the core system modules for Middle – Back Office and flexible thin clients for the Front Office as well as theWeb, IMSplus brings powerful tools for client profiling and investment management services to the bank branch
and agent networks, the web and other channels such as call centres, thus servicing reliably the bank’s affluent andretail customers, complementing the core banking system and products.
MMiiFFIIDD ccoommpplliiaanntt cclliieennttpprrooffiilliinngg aanndd ppoorrttffoolliioommooddeelllliinngg aalloonngg wwiitthhppoowweerrffuull iinnvveessttmmeennttmmaannaaggeemmeenntt ttoooollssIMSplus enhances the vigour ofInvestment Management inthe Bank’s network viasophisticated cclliieenntt pprrooffiilliinnggand segmentation along withthe use of flexible modelinvestments and portfolios.SSeeaammlleessss CCoommpplliiaannccee checkingagainst the client investmentprofile, aauuttoommaattiicc TTrraaddee oorrddeerrmmaannaaggeemmeenntt and powerfulPerformance reporting consti-tute the axes of the affluentand personal business models.
PPeerrssoonnaall iinnvveessttmmeenntt && bbaannkkiinnggThe solution complements acore banking system indelivering multiple investmenttools (equities, bonds, fixedincome, funds) to the endclient through the bbrraanncchhnneettwwoorrkk.. Using a thin client orbbrroowwsseerr--bbaasseedd aarrcchhiitteeccttuurreeand state-of-the-art security,the solution provides real-time quotes, order routing,real time ppoorrttffoolliioo vvaalluuaattiioonnand customer statement. It isready to integrate withexisting systems and supportsaalltteerrnnaattiivvee cchhaannnneellss (internet,call centres and mobilebanking).
WWiiddee rraannggee ooffiinnssttrruummeennttss aavvaaiillaabbllee ffoorr aafffflluueenntt aanndd rreettaaiillccuussttoommeerrssIncorporating sophisticatedportfolio management andproduct modules, the systemallows for launching to thenetwork a wide range offinancial instruments andinvestments, such as commonstocks, bonds, money marketproducts and more. Emphasisis given to the ability of thesystem to create nneeww ssttrruu--ccttuurreedd pprroodduuccttss to launchthrough the network.
TTreasuryFull STP processing for Front, Middle & Back OfficeIMSplus Treasury manages Front, Middle and Back Office treasury operations with Straight Through Processingprocedures, that can be parameterised in a flexible, powerful and secure manner to serve every Commercial andCentral Bank’s needs. The system supports all modern instruments and handles complex workflows andoperations, with ease.
FFuullll ssttrraaiigghhtt tthhrroouugghhpprroocceessssiinngg ((SSTTPP)) ffrroonntt ttoo bbaacckkThe system provides full STPfrom FFrroonntt OOffffiiccee operationssuch as pre-trade simulationand trading, to MMiiddddllee OOffffiicceeprocesses such as VaR, Limits,Yield Curve and Sensitivity riskanalysis, to BBaacckk OOffffiiccee work-flows such as trade clearing,settlement, reconciliation andaccounting post. All work-flows are parameterised to fitTTrreeaassuurryy’s operational andsecurity requirements, thusproviding a robust and safeenvironment to support com-plex transactions.
CCoommpplleettee ssuuppppoorrtt ooff ttrreeaassuurryy uusseeddiinnssttrruummeennttss,, ffrroommttrraaddiinngg ttoo rriisskk aannddppeerrffoorrmmaanncceeIMSplus supports all instru-ments used by CCoommmmeerrcciiaalland CCeennttrraall BBaannkkss’’ TTrreeaassuurriieess,,such as equities, bonds,treasury bills, discount notes,deposits, repos, FX, interestrate and cross currency swaps,asset and mortgage backedsecurities and synthetic pro-ducts. For each instrument, thesystem provides specific ppaarraa--mmeettrriicc wwoorrkkfflloowwss,, ccoommpplliiaanncceerruulleess,, iinntteerrffaacceess ttoo ttrraaddiinngg aannddmmaarrkkeett ddaattaa ssyysstteemmss as well asperformance, risk and bench-marking operations. The instru-ments, which may be used also
to create complex compoundproducts, can be utilised bothfor the Bank’s portfolios as wellas for managing special pro-ducts in customer portfoliosthrough the Treasury.
SSWWIIFFTT mmeessssaaggiinnggccoovveerraaggee aanndd sseeaammlleessssiinntteerrffaacciinngg ttoo ssttaannddaarrddssyysstteemmssIMSplus integrates seamlesslywith all industry standardsystems for market data rece-ption and complex trade cap-turing & ordering and utilizesaallll sseerriieess ooff SSWWIIFFTT mmeessssaaggiinnggfor all operations concerningclearing, settlement, payment,reconciliation and commu-nication with counterparties.
CCustodyOperational Efficiency
IMSplus Custody, is a comprehensive custody management system delivering real time processing for depositorymanagement. The system maintains an updated status for all dematerialised securities and supports safekeeping,
deposits, withdrawals, transfers and settlement services.
CCuussttooddiiaann sseerrvviicceessThe solution supports GlobalCCuussttooddiiaann && SSuubb--CCuussttooddiiaannoperations in SSTTPP providingccuussttooddyy bbeesstt pprraaccttiicceess.. Itincludes corporate actionprocessing, interface to Clea-ring House and the corebanking system, incomingand outgoing SWIFT messageautomation, billing and feesas well as multiple generalledger postings (including IAScompliance).
CCoorrppoorraattee aaccttiioonnssCorporate actions processingprovides announcement andprocessing services forvvoolluunnttaarryy aanndd mmaannddaattoorryyrreeoorrggaanniissaattiioonn aaccttiivviittiieess suchas, IPO’s and exchanges, mer-gers, conversions, put options,warrant exercises, rightssubscriptions, splits, spin offs,exercise of voting and conse-nting rights, bond conversions,calls and redemptions andinterest payouts. Name andidentity changes are alsopossible. The application iscapable of receiving data aboutcorporate actions from eexxtteerrnnaallssoouurrcceess to completely aauuttoo--mmaattee the corporate actionsprocess.
CCeennttrraall ddeeppoossiittoorryyccoommmmuunniiccaattiioonnThe system communicatesdirectly with the central depo-sitories. This communicationfacil itates the delivery ofcorporate actions, the transferof securities between ccuussttoo--ddiiaannss and the sseettttlleemmeenntt oforders. The custody appli-cation of IMSplus reconcilesthe position of the IMSplusvaults against the positions ofthe CCeennttrraall DDeeppoossiittoorryy and ofany ssuubb ccuussttooddiiaannss.. An on linevault file maintains detailedinformation on every certi-ficate and document availableincluding registration, nego-tiability status and restrictedindicator.
SSWWIIFFTT mmeessssaaggiinnggIMSplus Custody Operationsutilise the full range SWIFTMessages (of the latest 2006standards and 15022 comp-liant) to communicate withglobal custodians and subcustodians.
AAsset Management
Increased productivity for Portfolio ManagersIMSplus Asset Management solution provides Portfolio Managers with a powerful environment to perform
investment management using simple and/or complex instruments that are precisely valuated, measured for risk and used in simulations with minimum operational risk and automated
procedures at all stages from Front Office trading to Back Office settlement.
IInnccrreeaasseedd ppeerrffoorrmmaanncceewwiitthh mmiinniimmuumm ooppeerraattiinngg rriisskkIMSplus Asset ManagementSolution provides Asset Mana-gers with Straight ThroughFront-to-Back Office Proc-esses, seamlessly collabo-rating together, from portfoliomodell ing, to ccoommpplliiaanncceecontrols, rebalancing scena-rios and ssiimmuullaattiioonnss,, tradeorder management, r iskanalysis, to sseettttlleemmeenntt andppoorrttffooll iioo aaccccoouunnttiinngg.. Allprocesses are supported bypowerful CCuussttoommeerr RReellaattii --oonnsshhiipp MMaannaaggeemmeenntt toolsaiming at improving commu-nication and reporting achie-ving ultimately higher clientsatisfaction.
RRiisskk aannaallyyssiiss,, ccoommpplliiaannccee,, rree--bbaallaanncciinngg aannddppeerrffoorrmmaannccee ffoorr aa wwiiddeerraannggee ooff iinnssttrruummeennttssAlong with the Front and BackOffice operations supportedby the system for domesticand international markets onany currency and for a varietyof iinnssttrruummeennttss,, ssiimmppllee aannddssttrruuccttuurreedd,, IMSplus provides apowerful Middle Office ena-bling the managers to setupcompliance rules, portfoliomodels and perform automaticcompliance checks and re-balancing scenarios andactions. RRiisskk mmaannaaggeemmeennttttoooollss,, such as benchmarkcomparisons, limits checks,Value at Risk, Yield Curve sensi-tivity and ssttrreessss sscceennaarriioosscomplement pprree--ttrraaddee ssiimmuu--llaattiioonn and offer powerful deci-sion making and complianceensuring tools to the portfoliomanager.
SSttrraaiigghhtt tthhrroouugghhpprroocceessssiinngg wwiitthhccuussttooddiiaannssAutomatic reconciliation pro-cesses based on transactions,positions and cash activityprovide the managers with themeans for an eeffffiicciieenntt aannddsseeccuurree ccoollllaabboorraattiioonn withmultiple custodians withoutoperational risks and extracosts.
CCredit Management & CollateralsBASEL II Compliant, Financial and Non-Financial Collateral ManagementCollateral management, both for financial and non financial collaterals is served with the IMSplus CollateralsSolution, which provides a flexible Front Office module to use at branches in order to block instruments for credit;a sophisticated Middle Office to measure exposure and risk management conforming to the Bank’s policy as wellas to BASEL II directives; and a powerful Back Office to process and manage all collateralised portfolios.
CCoovveerraaggee ooff ffiinnaanncciiaallaanndd nnoonn ffiinnaanncciiaallccoollllaatteerraallssIMSplus Collaterals is amodular Front, Middle andBack Office system coveringFFiinnaanncciiaall aanndd nnoonn FFiinnaanncciiaallCollaterals against credit thatmay be managed either withinthe system or externally, in thecore banking or other systemsof the Bank. IMSplus supportsaallll mmaajjoorr ffiinnaanncciiaall iinnssttrruummeennttsssuch as collaterals as well asnon-financial products thatcan be eevvaalluuaatteedd both auto-matically from the system withppaarraammeettrriicc aallggoorriitthhmmss andexternally by product specificmodules. Financial Collateralssupport automatically allcorporate action results incollateralised portfolios.
FFuullllyy bbaasseell IIII ccoommpplliiaannttThe system, through powerfulinstrument classification andby using BBaasseell IIII ccoommpplliiaannttclasses and connectors toexternal BASEL II systems,provides all necessary info-rmation to eevvaalluuaattee ccoollllaatteerraallssaanndd mmeeaassuurree eexxppoossuurree bothaccording to the Bank’s spe-cific needs and policies as wellas according to BASEL II regu-lating requirements.
FFlleexxiibbllee aanndd tthhiinn ffrroonnttooffffiiccee,, ssoopphhiissttiiccaatteeddmmiiddddllee ooffffiiccee aanndd ppoowweerrffuull bbaacckk ooffffiicceeIMSplus provides to the Bankboth the Front Office functi-onality in order to mmaannaaggee iinn aahhoommooggeenniisseedd mmaannnneerr throughits network the reservation ofcollaterals against credit andloans, as well as the Middleand Back Office procedures tomeasure risk, margin andmanage collateral corporateactions, automatically. Thesystem provides all necessaryiinntteerrffaacceess ttoo ccrreeddiitt and ccoorreebbaannkkiinngg systems in order tomeasure collateral value agai-nst the corresponding credit.
MMutual Funds & Pension FundsInvestment Management and Fund Accounting along with unit holder managementIMSplus Fund Management is a powerful and complete solution for Mutual Fund and Pension Fund Managementorganisations. It includes all tools and procedures for managing the fund investments, for interacting with and servicing shareholders and pensioners, for performing unitisation and management of fund fees and expenses and for a complete fund accounting process.
FFuullll FFuunndd mmaannaaggeemmeenntt aanndd aaccccoouunnttiinnggIMSplus Mutual Fund Solutioncovers all needs of MutualFund companies in managingtheir funds, each as aninvestment portfolio, alongwith the rreegguullaattoorryy aanndd ffuunnddddeeffiinniittiioonn mmooddeellss aanndd pprrooffiilleess..The system provides powerfulPerformance and Risk analysis,with aannaallyyttiiccss,, PerformanceAttribution and flexible andparametric Compliance me-chanisms to maximize thefund management processes.RReeaall ttiimmee NNAAVV calculation,FFuunndd aaccccoouunnttiinngg,, fees andexpenses management withunitisation being an integralpart of the system, providingin an aauuttoommaattiicc wwaayy allnecessary information andprocesses for managing thefinancial entity of the fund.
UUnniitt hhoollddeerrss mmaannaaggeemmeenntt Through the Front Officemodule, IMSplus providesmanagement of buy and sellorders from potential fundcustomers and Mutual Fundunit holders in real time. Thesystem can use its own FrontOffice client or integrate andcommunicate with externalsystems both through stand-ard information exchangeprotocols and through custominterfaces. The aauuttoommaattiiccpprroocceessss ooff uunniittiissaattiioonn acco-mmodates in a fast and secureway all requests for entry andexit from the fund, also gene-rating all required reporting.
PPeennssiioonn ffuunndd mmaannaaggeemmeennttThe IMSplus Fund Mana-gement Solution provides toPension Fund Organisationsffuunndd iinnvveessttmmeenntt mmaannaaggeemmeenntt,,fee and expenses managementand fund accounting andfinancials in the lines of mutualfund management with thessppeecciiffiiccss ooff ppeennssiioonn ffuunnddss. Thesystem tracks and manages theffuullll lliiffeeccyyccllee ooff eemmppllooyyeeeeccoonnttrriibbuuttiioonnss and paymentsboth for one off exits as well asfor periodic pension outflows.IMSplus interfaces to PensionAgents and Bank Branches forcontribution collections utili-sing its light Front Office clientsthus enabling the organisationto set up a multi – pointcollection network.
BBrokerage & Broker Agencies
Multi Market, multi currency, client centric global brokerage solution
IMSplus Brokerage is a complete, state-of the-art MiFID compliant Brokerage solution with a client centricphilosophy while including all the tools for Straight Through Processing for the brokerage firm’s workflows.
The system connects to any market, depository and custodian using standard protocols and accommodates trades on all financial instruments at any currency.
CCoommpplleettee ffrroonntt--mmiiddddllee--bbaacckk ooffffiiccee,, mmuullttii ccuurrrreennccyy &&mmuullttii mmaarrkkeett SSoolluuttiioonnIMSplus Brokerage is acomplete solution covering allprocesses from FFrroonntt OOffffiicceemarket watch and trade ordermanagement to MMiiddddllee OOffffiicceerisk analysis and performancemeasurement and to BBaacckkOOffffiiccee settlement, fee mana-gement, customer invoicingand regulatory reporting. Thesystem supports aallll bbrrookkeerraaggeeaaccccoouunntt ttyyppeess such as cash,omnibus, margin, mini andexternal margin for domesticand international markets for awide variety of instrumentslike stocks, bonds, funds, ETFstraded in any currency.
AAuuttoommaattiioonn aanndd ccoonnnneeccttiivviittyy wwiitthh mmuullttii--cchhaannnneell pphhiilloossoopphhyyUtilising ssttaattee--ooff––tthhee--aarrtt ccoonn--nneeccttiivviittyy protocols such as FIXand ODL, IMSplus connectsseamlessly to any market,depository and custodian toperform trades and settlementwith powerful and flexible STPprocesses. OOnn lliinnee,, rreeaall ttiimmeeppoorrttffoolliioo valuation and P&Lreporting, along with para-metric alerts allow for fastreaction to market fluctuationsleading to more efficienttrading and first class clientservicing. Brokerage clients areserved through a cclliieenntt--cceennttrriiccsystem with multi-channelcommunication philosophyusing any modern means likeweb, IVR and mobile.
BBrrookkeerr aaggeennttssDiscrete modules of IMSplusmay be deployed to BrokerAgents and Valued customersto connect live to the Broke-rage Firm and observe marketsin real time, perform trades,execute wwhhaatt--iiff sscceennaarriioosschecking compliance rules andcalculating performance andfees, thus providing associatesand clients with a large part ofthe systems rich brokeragefunctionality.
MODULAR CAPABILITIES MODULAR CAPABILITIES
TTrade Order ManagementAutomating Front Office WorkflowThe Trade Order Management application of IMSplus streamlines the workflow and ensures both internal andexternal straight through processing, by automating front office activities such as order processing, order routingand execution as well as facilitating seamless communication between all participants in the trade cycle comprisingbrokers, exchanges custodians and clearing agents.
OOrrddeerr GGeenneerraattoorr The ordering process is a combination of the order generation and order execution activities.
For all types of orders the system checks against liquidity considerationssuch as dividends, coupons availablecash balances business rules and best practices that are defined in the compliance application within IMSplus.
MMooddeelllliinngg aanndd aasssseett aallllooccaattiioonnBy comparing the actualportfolio with the targetmodel the system is capable ofggeenneerraattiinngg rreeccoommmmeennddaattiioonnssto the trader which can eitherautomatically be forwardedinto the market or manuallyevaluated and modified.
OOrrddeerr rroouuttiinngg aanndd bblloocckk ttrraaddiinnggOnce an order is generatedthe execution phase begins bycompleting all details of theorder such as type of tradinglimit (e.g. market, stop loss),duration (e.g. DAY, GTD, GTC,ATC, ATO), and the trader canselect to place the order eitherindividually or as a blocktrade. IMSplus supports userdefined variables that can beused to ddeeffiinnee aanndd eexxeeccuutteecomplex allocation strategies.
EElleeccttrroonniicc ccoonnnneeccttiivviittyyUser defined rules allow for acustomisable electronic routingof orders from fund managersto traders and trading desks orto selected brokers, tradingnetworks, stock exchanges andvirtual matching utilities. Allcommon protocols, such as FFIIXXaanndd OODDLL for order routing, andconnections to mmaarrkkeett ddaattaaffeeeedd interfaces are supportedfor seamless integration withMarkets.
LLiimmiittssLimits are simple tradingrestrictions based on severalparameters, for instancemaximum percentage in aninstrument type and type ofcurrency, geographic regionor available margin. Limitsfunctionality is aavvaaiillaabbllee bothiinn rreeaall ttiimmee and before thetrade if a simulation run is tobe performed.
SSiimmuullaattiioonnThe simulator of IMSplus canbe connected to third party riskand analytic systems to per-form aaddvvaanncceedd ssttaattiissttiiccaallaannaallyyssiiss.. The system calculatesrisk factors such as durationand volatility and takes intoconsideration yield to maturity,yield to coupon and price toselect the best offer.
OOrrddeerr mmoonniittoorrIMSplus is capable of moni-toring and updating the statusof orders through their wholelifecycle, providing workflowand statistical information perorder, client and instrument,thus providing all necessarydata for MIS and regulatoryreporting and MMiiFFIIDD ccoommpp--lliiaannccee..
CComplianceReduced Risk
To minimise operational risk inherent in the trading process, IMSplus is equipped with aflexible and user friendly rule based system that automatically monitors all trades and
associated transactions and ensures adherence to the rules that are specified within the compliance application.
RRuulleess eeddiittoorrA user can configure anynumber of ““iiff……tthheenn”” rulesusing Boolean (AND, OR etc)and algebraic operators.These rulers relate to thefollowing:
ñ Constrains for portfoliocomposition.
ñ Trading regulations.ñ Client guidelines.ñ Company policy.ñ Definition of degree
ñ Hard blocking warnings,which cannot be overridden.
The editor can be interfacedwith third party risk andanalytics systems to includecomplex statistical functionsin compliance checks.
PPrree && ppoosstt ttrraaddee ccoommpplliiaannccee A set of pre-configured rulesthat include standard regu-latory guidelines and bestpractices can be activated tomonitor among others thefollowing:
ñ Geographic Restrictions.ñ Issuer Restrictions.ñ Percent and Stock List.ñ Currency.ñ Asset Type.ñ Counterparties.ñ Maximum Industry Weight.ñ Maximum Deviation from
Model Portfolio.ñ Maximum Deviation
from Industry Weight.ñ Maximum per Security.ñ Maximum Size of Trade.ñ Book Market Value.ñ Credit Risk Rating.ñ Beta Restrictions.ñ Multiple Simultaneous
Restrictions.
Rules can be aapppplliieedd aauuttoommaa--ttiiccaallllyy when new portfoliosare defined or new instru-ments are added into a port-folio. New additions of po-rtfolios and financial instru-ments automatically iinnhheerriitt aallllpprree aanndd ppoosstt ttrraaddee compliancerules from the groups theybelong to.
EExxcceeppttiioonn hhaannddlleerrWithin IMSplus, rules have avariety of severity levels,authorisation parameters andvalidity periods. Certain eventscan trigger a rule that willcause the creation of a reportcontaining either a list ofviolations encountered by thecompliance application, or a listof all users and events duringwhich system restrictions wereoverridden. A complex aauuddiittttrraaiill ooff aallll ccoommpplliiaannccee cchheecckkssand violations is maintainedwithin the system for auditingpurposes.
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MODULAR CAPABILITIES MODULAR CAPABILITIES
RRisk ManagementPowerful Middle OfficeMiddle Office functionality is empowered by the IMSplus risk management modules that provide risk metrics andcomplex trade scenario simulation, reporting pre and post limits and compliance checks as well as analytics formanaged portfolios and their benchmarks.
LLiimmiittss cchheecckkss aanndd pprree--ttrraaddee ssiimmuullaattiioonnIMSplus complements comp-liance rules with limits checkson currencies, counterparties,counterparty groups, portfolioand benchmark modifiedduration and PV01 to assurecontrol of risk in any portfoliomanagement decision. Limitschecks are performed onsingle portfolio or portfoliogroups both for single simula-ted trades as well as for ccoomm--pplleettee aanndd ccoommpplleexx ttrraaddeesscceennaarriiooss.. Simulated scen-arios, passing compliance,may be automatically trans-formed to trade orders in anautomated way.
PPoowweerrffuull aannaallyyttiiccss,,iinncclluuddiinngg vvaalluuee aatt rriisskkThe system maintainshhiissttoorriiccaall mmaarrkkeett ddaattaa forcredit, market, and currencyrisk and manages factors thatinclude credit ratings, creditspreads, interest rates, foreignexchange (FX) rates, equityand derivatives prices. IMSplusanalytical functions analyzethem either solely or in com-bination with portfolio andbenchmark data and reportaannaallyyttiiccss iinncclluuddiinngg ssttaattiissttiiccaallrreessuullttss like standard deviation(volatility), variance, corre-lation, covariance, and Value-at-Risk (VaR) results.
YYiieelldd ccuurrvvee ssttrreessss tteessttaanndd sseennssiittiivviittyy aannaallyyssiissWhat if scenarios are imple-mented, apart from simulatedtrade sequences, also by YieldCurve Sensitivity analysis thatis available to Front and MiddleOffice users of the system.IMSplus provides for a numberof vvaarriiaattiioonnss such as parallelshift, steepening and flatte-ning of Yield curves to reportportfolio and benchmark effe-cts and thus report risk exp-osure.
PPerformance Attribution
In Depth AnalysisThe performance and attribution application of IMSplus allows the Fund manager to monitor and assess
the performance of a given portfolio and to attribute the net result of a particular investment strategy to several key factors. The functionality of the specific application is easily extended by the use
of optional interfaces with best of breed risk and analytics systems.
PPeerrffoorrmmaannccee mmeeaassuurreemmeennttInvestment managers caneffectively analyse and com-municate the performance oftheir investments while tra-cking them aaggaaiinnsstt aa bbeenncchh--mmaarrkk.. Monitoring and Bench-marking are performed atdefined level.
The portfolio performancemeasurement can take placerreeaall ttiimmee and off line over afreely definable time horizonand can be applied to any typeof portfolio including open-ended type.
The system provides extensivedrill-down functionality thatenables a front officer toanalyse the performance of aportfolio from the level ofrealized and unrealized gainsand losses to the impact of aspecific transaction. It is alsopossible to recalculate theperformance of a portfoliotaking into account back datedtransactions.
PPeerrffoorrmmaannccee aattttrriibbuuttiioonnThe attribution process allowsinvestment managers toidentify which factors of theinvestment strategy contri-buted (positively or negatively)to the performance levelsattained. It also assists assetmanagers in iiddeennttiiffyyiinngg tthheeiimmppaacctt that particular decisionsmade during the investmentmanagement process had onthe performance of thatinvestment. During the attri-bution process several factorsare considered such as: assetclass, industry, currency, profitcenter, profit and loss compo-nents and margins. The systemallows its users to ccuussttoommiisseetheir configuration and repo-rting of results, using para-metrical report templates.
MODULAR CAPABILITIES MODULAR CAPABILITIES
PPortfolio Back OfficeInternal and External STPThe IMSplus Portfolio Back Office is a multi-currency application that generates and posts all accountingtransactions that emanate from the key process within the Trade Order Management and Custody application. Thesystem supports extensive reporting and scheduling functionality.
FFuullll SSTTPP pprroocceessss
IMSplus provides both internaland external Straight ThroughProcessing by eliminating allmanual intervention in trans-ferring information betweenthe front office and backoffice applications. Frontoffice activities such as orderprocessing, order routing andorder execution are ffuullllyyaauuttoommaatteedd.. In addition, allexternal operations in thetrading cycle are also auto-mated through electroniccommunication with brokers,exchanges, custodians andclearing agents.
Real-time postings to theback office are triggered byprocessing in the other mod-ules of IMSplus, ensuringintegrity and consistency of allbusiness processes. Trans-actions can be updated man-ually when automatic pro-cessing is not available.Through the STP processesand standard interfaces use,custody, clearing, settlementand reconciliation with count-erparties and depositories aressaaffee,, sseeccuurree aanndd eeaassyy in thesystem.
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Various types of fees andcommissions are calculatedon a daily or uusseerr ddeeffiinneedd timeintervals such as transactionfees, management fees,custody and performancefees. The system can chargefees applying a simple flatrate per transaction or a morecomplex user defined model.Commissions can also becalculated and distributed tothird parties based on simpleor complex criteria.
IMSplus Portfolio Back Office,offers numerous ready-madereports that guarantee hhiigghhqquuaalliittyy sseerrvviiccee to any type ofclient, associate and regulatorybody. Information from allIMSplus modules is presentedin ccoonnssoolliiddaatteedd ffoorrmmaatt bothprinted and over the web, e-mail and fax.
Within IMSplus several reportscan be produced, including:
ñ Portfolio structure permarket, per security, pertype of security, per groupof security, per productcurrency or in total for aselected currency.
ñ Portfolio structure per custodian.
ñ Diagrammatic presentationof capital investment / netbalances.
ñ Client transactions within aperiod, per security, percompany, per type oftransaction.
ñ Consolidated Statement.
The system supports a ppoowwee--rrffuull bbuuiilltt--iinn rreeppoorrtt ggeenneerraattoorrthat can be used to customiseexisting reports or createcompletely ones using al linformation stored in IMSplus.The generator can be used toprovide fast and without costsimple and complex customreports according to the orga-nisation’s needs.
InterfacesOpen Architecture
IMSplus interfaces provide accurate and timely information from an external source to IMSplus applications andvice versa. This information usually comes from Stock Exchanges for pricing needs, market data vendors, centraldepository systems, SWIFT messaging systems and counter parties. Also IMSplus exports information to general
ledgers, core-banking systems, dealing room systems, and Internet applications.
WWEEBB sseerrvviicceessTaking advantage of Internettechnology for easy access,IMSplus covers BB22CC aanndd BB22BBinformation for portfolio valu-ation, portfolio performance,realised/ unrealised gain andloss reports, reports on trans-actions performed over a sele-cted period of time, and on linetrading features.
IIVVRR ((iinntteerraaccttiivvee vvooiicceerreessppoonnssee)) sseerrvviicceessUsing the most widely availablechannel of communication,telephony, IMSplus interfaceswith Interactive Voice Responseservices, enabling the orga-nisation to provide its clientswith llooww ccoosstt // hhiigghh qquuaalliittyy ser-vices for portfolio informationand trading.
IInntteerrffaacceess wwiitthh CCRRMM ssyysstteemmss IMSplus can pass informationto third party CRM systemsabout customer preferenceand needs in order to imple-ment ccrroossss –– sseelliinngg ccaammpp--aaiiggnnss,, customer loayalty andcustomer satisfaction surveys.
IIMMSSpplluuss offers multiple capabilitiesfor communicating over alternative networks withclients and associates.Other PROFILE productssuch as PROFILE Analytics,PROFILE IVR, BFS andNOUS CRM are capable of communicating withIMSplus through standard APIs.
IINNTTEERRFFAACCEESS
Market Data Vendors(e.g. Bloomberg, Reuters)
Stock ExchangeMarket Connectivity
Central Depository System
Counter Parties (FIX, STN)
General Ledger
Core Banking
SWIFT (Trades)(Corporate Actions)
SWIFT (Statements)
Dealing Room /Treasury
Corporate Actions Vendors
Risk & Analytics
Internet / IVR / e-mail
Custom Interfaces
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SSecurityReliabilitySpecial attention has been given to ensure the highest level of security throughout the system in order to protectdata integrity and privacy. Checks, verifications, user monitoring and audit trails are used to prohibit unauthorisedaccess to the system or to specific modules or functions, and to ensure the institution against user induced errors.
VVeerriiffiiccaattiioonn –– uusseerr rriigghhttssIMSplus prohibits and disc-ourages any unauthoriseduser to access the database aswell as the application func-tions providing:
ñ Password encryption & Password Policy.
ñ User Level Rights (Administrators, Operators,Power Users, Users).
ñ Dynamic user rights update.
ñ Monitoring and check of the users’ activities at the level of: rights, groups, users.
ñ Analytical Audit Trails whichmonitor user actions.
ñ Special access rights to every user of the applicationat screen, operations and customer level.
DDaattaa sseeccuurriittyyThe system leverages the ssee--ccuurriittyy aaddvvaannttaaggeess provided byClustering architecture inassociation with the processesused to ensure data integrityand validity.
SSccaallaabbllee TTeecchhnnoollooggyyIMSplus is del ivered on aplatform that sets the stand-ard for SOA-based opensystems technology andscalable transaction pro-cessing. IMSplus is unrivalledin its abi l ity to optimiseperformance for aallll ssiizzeess ofoperation, from low-volumesingle-site processing to high-volume global operations.
AAddvvaanncceedd SSOOAA--bbaasseeddaarrcchhiitteeccttuurreeIMSplus uses advanced multi-tier Service Oriented Archi-tecture (SOA) technology,combining the resilience anddata integrity of a relationaldatabase with the ssppeeeedd andfflleexxiibbiilliittyy of object-basedcomponents and Web Services.
Business TiersBusiness TiersPresentation TierPresentation Tier ApplicationServices TierApplicationServices Tier
