FinIQ adds cash equity trade processing client

Mar 2015, Singapore

FinIQ is pleased to announce that it has signed it's first ever ‎cash equity client. A Singapore bank will use the system to book orders transacted on exchange worldwide. The system will automate trade verification, documentation, transfers and maintain both cash and share balances for bank's private wealth clients. Over 25 different corporate actions are supported by the system, improving entitlement processing efficiency. Client statements are comprehensive including variety of transactions including purchase, sale, dividend, bonus, transfer, exercise, etc.

The credit modules overlaid on top of the client portfolio functionality allows simulation of multi share buy-sell trades, injection-withdrawal of collateral and their impact on collateral sufficiency. Portfolios can be revalued on demand and margin calls are generated for timely actions in the event of drastic market movements. Each collateral type including deposit, fund, share, bond as well as the collateral denomination currency is attached with risk weights and multipliers. ‎Instruments are parameterized and new exposure, collateral types can be easily added.

The fees and charges modules is entirely rule based and is configured to handle over 30 types of fees including registration fees, stamp duty, GST, brokerage, agency commission, handling charges, etc. Each exchange and broker combination can have a unique set of rules and individual clients can also be configured to have client specific billing parameters.

The new module complements FinIQ's front office strength and makes its offering more complete through middle and back office.