OBS-WPS Securities

OBS-WPS is used to settle securities transactions. Among others, the following products are included:

+ Shares and equity-like securities
+ Fixed, variable and zero coupon bonds
+ Money market instruments
+ Funds
+ Futures
+ Options


Master Data administration

Master data forms the basis for all processing. It defines object descriptions, processing rules, erc. The master data functions required specifically for the securities area are subdivided into the following areas:

+ Securities master data management
+ Import of securities master data from external suppliers (e.g. WM Datenservice)
+ Import of securities prices from external suppliers (e.g. WM Datenservice, SIX)
+ Administration of safecustody account master data
++ Standing Instructions
++ Settlement instructions
++ Safwecustody account statement information
++ Custody fees

+ Administration of multi-level fee models


Interface for securities master data

OBS-WPS supports the automatic interface of master data from WM Datenservice with the following areas:

+ Master data
+ Corporate actions with income, capital measures, exchange, etc.
+ Annual General Meetings
+ Mifid
+ Ratings
+ Issuers
etc.

Through the integration of "WM Eddy", new master data can be obtained real-time.
Rates can be drawn in from various sources, e.g. WM Datenservice, SIX, Bank own systems, etc.


Order Management / Order Routing

OBS-WPS has its own order system. The individual securities transactions are recorded by the investment advisor / portfolio manager and electronically forwarded to the order desk for execution. The degree of automation in order management and order routing was given very high priority.

The following order management and order routing functions are available in OBS-WPS:

+ Management of individual orders
+ Management of collective orders
+ Management and monitoring of limited orders
+ Review of holdings and blocks, as well as compliance with individual investment guidelines when entering orders
+ automatic processing of electronically incoming orders (e.g. SWIFT, FIX)
+ Forwarding of orders to the responsible trader or to an electronic exchange system (e.g. XETRA, XITARO, XONTRO, via FIX or SWIFT to brokers)


Securities TRADING

The sub-module "Securities Trading" covers all functions necessary for the activities of traders. In addition to user-friendliness, great importance was attached to the degree of automation of the individual programs.

The following securities trading functions are available in OBS-WPS:

+ Support for
++ Orderdesk
++ Sales Desk

+ Proprietary trading
+ Electronic order book
+ Real time position management and P&L calculation
+ Individual configuration per dealer
+ Freely definable trading books (trading portfolio, liquidity portfolio, etc.)
+ Support for repos and securities lending
+ Fully automatic connection to stock exchanges, 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 confirmations


Securities Derivatives

The OBS-WPS has its own sub-module "Derivatives", which contains the most important functions for the settlement of derivative transactions.

The following derivative functions are available in OBS-WPS:

+ Administration of contract master data
+ Blocking of the underlying on option sale
+ Calculation and/or booking
++ the option premium
++ initial, spread and variation margin for futures and options

+ Due date monitoring
+ Functions for processing on exercise or expiration
+ EUREX connection


Securities Settlement And Administration

The submodule "Securities Settlement" contains all necessary functions for the settlement of transactions with securities and derivative products.

The following settlement functions are available in OBS-WPS:

+ Standard instructions for securities and money settlement
+ Automatic calculation of fees for customer and broker
+ Automatic calculation of accrued interest
+ Release of securities transactions
+ Automatic reconciliation of incoming confirmations against own business data
+ Automatic generation of cash postings (open items and nostro)
+ Management of customer depots
+ Receipts/deliveries and securities account transfers
+ Preparation of confirmations and custody account statements by letter, fax and/or SWIFT


Depository Management

The submodule "Depository Management" contains the functions necessary for the activity in the area of depositiry management.

The following depository management functions are available in OBS-WPS:

+ Management of depository stocks by trading day, value date and settlement date
+ Differentiation between customer and own items per storage location
+ Online access to historical and future stock positions
+ Generation of delivery instructions
+ Generation of payments for "free" transactions
+ Automatic processing of incoming delivery orders
+ Forwarding of instructions
+ Automated depository transfer postings
+ Generation of depository advices
+ Matching of incoming instructions
+ Automatic reconciliation of inventories and turnover
+ Connection to Clearstream (Germany, International), SIS and CREST
+ Delivery monitoring and automatic dunning process
+ Depository reconciliation


Lending & Borrowing

Lending & borrowing is becoming increasingly important in the securities sector. This area has therefore been integrated into OBS-WPS.

The following lending and borrowing functions are available in OBS-WPS:

+ Support for in-house as well as for external
+ Definition of the securities to be made available for lending per customer
+ Automatic provision of stocks (bid list)
+ Identification of the borrowed items
+ Calculation and booking of fees


EVENTS

For each security, specific measures are required at different times. These events are carried out as automatically as possible in OBS-WPS. Depending on the type of events to be executed, the required information is derived from the OBS-WPS own database, read from provider information (e.g. WM) or can be entered manually in the system.

The following event functions are available in OBS-WPS:

+ Online access to events and stocks
+ Transfer of event data from provider information as well as from information from custodians (SWIFT format, WM Datenservice, etc.)
+ Automatic processing in accordance with permanent instructions
+ Automatic credit memo for the following, taking into account conversion rules
    ++ Interest
    ++ Repayments
    ++ Dividends paid
   ++ Fund distributions

+ Automatic execution of all types of corporate actions
+ Generation of advice notes and settlements
+ Generation of securities transactions from corporate actions
+ Management of annual general meetings
+ Generation of notifications for annual general meetings


Interfaces To International Markets

OBS-WPS supports, among others, the following interfaces for securities trading and securities settlement for the international market:

+ Securities Trading
   ++ Order routing via FIX (e.g. to UBS and other brokers)
    ++ Connection to rear trading platforms (e.g. MFX, Vestima+)
    ++ Sending orders (via SWIFT MT502, Fax)
    ++ Automatic training in counterparty execution (via SWIFT MT513, MT515)
    ++ Automatic import of incoming orders (via SWIFT MT502) and confirmation (via SWIFT MT509, MT515)

+ Securities settlement
    ++ Confirmation adjustment MT515 (via SWIFT)
    ++ Issuance of instructions
          +++ Clearstream International CREATION
          +++ SIS
          +++ CREST
          +++ Various bearing positions (via SWIFT)

+ Settlement Posting
   ++ Settlement Confirmations MT544 to 547 (via SWIFT)


Interfaces German Market

OBS-WPS supports, among others, the following securities trading and securities settlement interfaces for the German market:

+ Securities trading
   ++ Order routing to the stock exchanges XETRA, XONTRO and EUREX
    ++ Automatic execution of XETRA, XONTRO and EUREX stock exchanges
    ++ Rate provisioning
          +++ Variable prices of the German stock exchanges
          +++ WM Datenservice Year-end rates of the Federal Association of German Banks
          +++ Price bands German stock exchange (domestic, foreign)

+ Securities settlement
   ++ Contract notes XONTRO, XETRA with automatic tuning for execution
    ++ Transaction message according to MIFIR
    ++ Delivery planning and release (via LIMA)
          +++ CCP-EUREX Gross Delivery Management, LION, CASCADE-OTC

   ++ Clearstream Frankfurt CASCADE instructions (via LIMA)
    ++ Electronic share register CARGO (via LIMA)
          +++ First registration, transfer, change of shareholder data
          +++ Coordination of holdings and transfer of shareholder numbers

   ++ Regulation posting
          +++ Regulation data medium MT536 CASCADE
          +++ Settled Delivery Report MT536 CCP-EUREX
          +++ Regulatory postings

   ++ Automatic master data maintenance for KV participants (KUSTA)


Blocking, own stock and notifications

Additionaly many other functions are available in OBS-WPS, e.g:

+ Automatic and manual blocking of securities positions
+ Communication with currency application for FX transactions
+ Calculation of the cost of carry on own positions
+ Inventory valuation (mark-to-market, lower of cost or market principle) and interest deferment/amortization
+ Notification of trading transactions, e.g.
   ++ MIFIR transaction notification via Trax, DBRegHub
    ++ EMIR messages
    ++ CSDR messages

+ Interfaces to compliance systems, e.g. SIRON

In the MIFIDII environment, the following functions are part of OBS:

+ PreTrade and Post-Trade Cost Transparency
+ Target market test
+ OrderRecordKeeping
+ Transaction messages

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