ARBES TOPAS Key Features

• Automated trade life-cycle

Received client orders are automatically (DMA order) or on demand (confirmed order) processed via the market order including their confirmation, settlement and cash flow management. The system provides pre-trade validation and forecasts client holding, cash balance, available portfolio structure, Value at Risk (VAR) and transactional and operational risks as well as regulatory and statutory limits..

• Market interfaces

Entered or order-driven trades are sent to market or to another broker via a set of predefined interfaces such as the standard FIX or S.W.I.F.T. protocol or through a native proprietary interface.

• Cash-flow management

The system automates cash-flow forecasting and netting via more than 100 bank interfaces. Client accounts in Omnibus or Nominee are matched daily with bank statements to reconsolidate their balances.

• Multi-currency system

Trades and commissions can be registered in different currencies with automatic FX recalculation into the payment, security, accounting and client account currency.

• Integrated fee calculation

The settlement process also automates all fee and commission calculations and processing such as trading, brokerage and custody fees as well as dealer, market, settlement and counterparty commissions. The end-of-month process provides a variety of depository and management fee calculation methods.

• Asset management

Managed portfolios are controlled by an investment strategy and an associated benchmark. Portfolios with the same investment strategies are typically managed concurrently and group orders are derived in order to unify their performance and VAR.

• Integrated accounting

Each trade and its settlement are automatically posted into the integrated ARBES FEIS double-entry accounting system as are portfolio evaluations and managed payments that can be interfaced to the client banking system.

• Corporate actions

Fixed and floated incomes are forecasted in the event diary and automatically settled as well as other standard corporate actions (split, merge, etc.).

• Multi-lingual open solution

All forms and reports can be widely configured, i.e. through interface language specification, column selection, filtering, formatting, sorting, etc. Data can be exported via the clipboard, a file or DB-interfaces. The life-cycle of a trade can be externally managed by uploading and downloading data related to orders and trades including trade confirmations, market registrations, settlement, etc.

• Portfolio evaluation

The system keeps track of on-line traded and settled client holding. The portfolio history is stored and calculated in accordance with a user defined algorithm on a daily basis including the evaluation of equities, forward trades, derivatives, bonds with AI and premium/discount, REPO and deposits, accrued interest and money market instruments. The system archives all imported Reuters, Bloomberg and other market price lists, exchange rates and interest rate curves.

• Demonstrativeness

All key operations are audited and can be confirmed using the four eyes principle. Client relationship management fulfills MIFID requirements as well as anti-money laundering regulation requirements including a detailed trading journal. In addition, the system also provides expert portfolio validation that highlights each instance of input data inconsistency in order to improve portfolio report accuracy and credibility.