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OBS-WPS Securities

OBS-WPS ensures the correct and autmated processing of all types of securities, amongst others:
  • Shares and similar papers
  • Bonds with fix, variable and zero rate coupons
  • Money market papers
  • Funds
  • Futures
  • Options

Master Data Management

Master Data is the basis for all transaction processing. The master data describes the object in question and defines the process rules and engine. The master data required for the securities area are divided into the following criteria:
  • Management of securities master data
  • Import of securities master data from external suppliers (e.g. WM, TELEKURS)
  • Import of securities rates from external suppliers (e.g. WM, TELEKURS)
  • Management of safecustody accounts including:
    • Standing instructions
    • Settlement instructions
    • Securities account statement information
    • Safecustody fees
  • Management of multi-tiered fee models/structures

Interface Master Data Management

OBS-WPS automatically processes the master data from WM in the following areas:
  • Master Data
    • Automatic master data management KV-participants (KUSTA)
    • Securities master data (WM):
      • Domain revenues (E)
      • Domain Corporate Actions (K)
      • Domain Switching (U)
      • Domain Drawings (V)
      • Domain AGM (H)
      • Domain Issuer (M)
      • Domain Orders/Dealing/Clearing (X)
      • Domain Master Data (G)
        • Product master data (GD, GV)
        • Product investment funds KPI (IFK)
        • Product investment funds pricing (IFP)
        • Product rating Standard & Poors (S+P)
Furthermore the Telekurs-VDF-Feed can be used for the automatic processing of rates and EU tax directive relevant data.

Order Management / Order Routing

OBS-WPS has got it's own order management system. The individual securities orders are recorded by the investment / porfolio manager and are electronically routed to the order desk for execution. Straight-Through Processing (STP) was a very important pre-requisite in the development of the order management / routing functionality.

The following order management / order routing functionality is offered in OBS-WPS:
  • Management individual orders
  • Management bulk orders
  • Management and monitoring of limit orders
  • Verification and monitoring of inventory and blocks as well as the adherence to the investment guidelines
  • Automated processing of incoming orders (e.g. from SWIFT, FIX)
  • Routing of orders to the appropriate dealer or to an electronic dealing system / stock exchange (e.g. XETRA, XITARO, XONTRO or via SWIFT or FIX to brokers)

Securities Dealing

The sub-module Securities Dealing covers all required functionality for the securities dealers. Apart from the user-friendly interface a very high priority was given to the straight-through processing and automation of dealing processes.

OBS-WPS offers the following funcitonality:
  • Support for
    • Order desk
    • Sales desk
  • Proprietary dealing
  • Electronic orderbook
  • Realtime position keeping and P&L calculation
  • Individual configuration per dealer
  • Freely definable dealing books (trading inventory, liquidity management, etc.)
  • Support of Repos and security lending
  • Fully automated STP connection to stock exchange, e.g. XETRA, XONTRO, XITARO, EUREX
  • Electronic Routing to brokers, e.g. via SWIFT, FIX
  • Connection to fund trading platforms, e.g. MFX, Vestima+
  • Generation of execution advices

Securities Derivatives

In OBS-WPS the sub-module Securities Derivatives cares for the most important functions for the securities derivatives processing.

The following functionality is available in OBS-WPS:
  • Management of securities contracts master data
  • Blocking of the underlying by options sales
  • Calculation and / or booking of
    • Options premium
    • The initial, spread and variation margin for Futures and Options
  • Maturity monitoring
  • Automated processing upon excercising resp. at expiration
  • Link-up EUREX

Securities Settlement And Administration

The submodule Securities Settlement contains all the functionality required to ensure the automated settlement of securities and derivative products.
The following functionality is available in OBS-WPS:
  • Standard settlement instructions for securities and cash settlement
  • Automated calculation of fees for broker and clients
  • Automated calculation of accrued interest
  • Release of securities transactions
  • Automated reconciliation of income advices vs. own transactions
  • Automated generation of cash booking entries (open positions and nostro)
  • Management of customer securities accounts
  • Delivery in/out and securities account re-booking
  • Creation of advices and securities account statements by letter, fax and/or SWIFT

Depository Management

The submodule Depository Management contains all necessary functions to manage depositories.
The following functionality is available in OBS-WPS
  • Trading and value-dated position keeping
  • Differentiation client and proprietary position per depository
  • Online access to historical and future depository positions
  • Generation of delivery instructions
  • Generation of payments with "free" transactions
  • Automated processing of incoming deliveries
  • Forwarding of instructions
  • Automated transfer bookings between depositories
  • Automated generation of depository position statements
  • Matching incoming instructions
  • Automated reconciliation between position and turnovers
  • Automated interface to Clearstream (Germany, International), SIS and CREST
  • Delivery monitoring and automated dunning
  • Depository reconciliation with SWIFT MT535

Lending & Borrowing

In the global securities and financial market the importance of lending and borrowing is constantly increasing. DIE SOFTWARE therefore decided to integrate this functionality into the OBS-WPS module.

The OBS-WPS securities lending and borrowing module consists of the following functionality:
  • Processing of in-house as well as external lending & borrowing
  • Online definition of the papers to be prepared for lending and borrowing
  • Automated preparation of the inventory (bid list)
  • Marking of the lent positions
  • Calculation and booking of the fees

Corporate Actions

Each security has, at some point in time, a corporate action associated with it. These corporate actions are automated in OBS-WPS. Depending on the type of corporate action the information is taken from the OBS-WPS own database or it is read into OBS-WPS from an external provider or, especially in the case of exotic securities, data are manually recorded in OBS-WPS.

The following functionality is available in OBS-WPS:
  • Online access to corporate actions and positions
  • Automated loading of corporate actions data from third party providers and depositories (SWIFT-format, WM etc.)
  • Automated processing in adherence to standing instructions
  • Taking the conversation rules into consideration automated booking of:
    • Interest
    • Redemptions
    • Dividend payments
    • Fund payments
  • Automated processing of all types of corporate actions
  • Generation of advices and invoices
  • Generation of securities transactions from corporate actions
  • Management of AGMs
  • Generation of advices for AGMs

Interfaces To International Markets

OBS-WPS supports the following automated interfaces (STP where possible) to international securities dealing and settlement systems:
  • Securities dealing
    • Order routing via FIX (e.g. to UBS and other brokers)
    • Connection to fund trading platforms (e.g. MFX, Vestima+)
    • Transmission of orders (via SWIFT MT502, Fax)
    • Automatic import of executions from counterparties (via SWIFT MT513, MT515)
    • Automated import of incoming orders (via SWIFT MT502) and confirmation (via SWIFT MT509, MT515)
  • Securities settlement
    • Confirmation matching MT515 (via SWIFT)
    • Instruction issue to:
      • Clearstream International CREATION
      • SIS
      • CREST
      • Various depositories (via SWIFT)
  • Adjustment bookings
    • Settlement confirmations MT544-547 (via SWIFT)

Interfaces German Market

OBS-WPS has several interfaces available to support the dealing and settlement of securities:
  • Securities dealing
    • Automated order routing to the XETRA, XONTRO and EUREX exchanges (via RTS)
    • Automated processing of trade executions from the XETRA, XONTRO und EUREX exchanges (via RTS)
    • Securities rates appropriation
      • Variable rates from the German Exchange (via RTS)
      • WM year-end rates from the Association of German Banks
      • Domestic and foreign rates from the German Exchange
  • Securities settlement
    • Closing rates ("Schlussnoten") XONTRO, XETRA with automated reconciliation for trade execution
    • Regulatory reporting according to MIFIR
    • Securities deliver disposition and release (via LIMA)
      • CCP-EUREX gross delivery management, LION, CASCADE-OTC
    • Instruction issuance Clearstream Frankfurt CASCADE (via LIMA)
    • Electronic share register CARGO (via LIMA)
      • Initial registration, re-allocation, shareholder data modification
      • Holding reconciliation and adoption of shareholder numbers
    • Adjustment booking entries
      • Adjustment data file MT536 CASCADE
      • Settled delivery report MT536 CCP-EUREX
      • Adjustment booking entries
    • Automatic master data management KV-participants (KUSTA)

Blocking And Proprietary Holdings

There are many additional functions in the OBS-WPS securities module that do not belong into any specific category. These are, for example:
  • Automated and manual blocking of individual securities positions and complete safecustody accounts
  • Automated communication with foreign exchange applications when securities transactions requiring FX are enacted
  • Calculation of “cost of carry” on proprietary positions
  • Revaluation (mark-to-market and lowest value principle) and interest accrual
  • Interfaces to compliance systems, e.g.
    • MIFIR transaction reporting via Trax, DBRegHub
    • EMIR Reporting
  • Interfaces to compliance systems, e.g. SIRON