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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