Apr 2013, Singapore
FinIQ is pleased to announce addition of a brand new Suitability module to its suite. In the past versions, suitability functionality was present but was closely linked with the underlying instruments. The new module is completely
service-oriented and can be used not only by FinIQ platform but also by another third-party or in-house system. It serves to both regulatory and internal compliance checks, where the client profile is matched with the product profile based on sophisticated user defined rules. The Suitability Rules Framework enables the risk control department to come up with their own rules and apply the same to a very unique scenario, which could involve a specific client profile and a specific product profile. For example, a joint account with one elderly account-holder can buy single share ELNs, but may not deal in basket linked ELNs; while the same joint account can buy a bond which is rated AA and above, but for a small amount. Another example could be a corporate client that has traded a certain currency pair in the FX spot market in the past is eligible to deal FX accumulators for the same pair, however, for a size limited to a certain percentage of the FX spot volume.