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Standard Solution April 2024 - Release notes

Released: April 30th, 2024

The Standard Solution April 2024 release introduces support for AML monitoring, handling multiple price types in the Bloomberg market data connection, an improved switch orders process as well as other improvements and fixes.

AML Monitoring - Flag transactions

Why? 

We implemented this feature because due to Anti-Money Laundering (AML) legislation, users must be able to detect unusual transaction activity.

Who is this for? 

This feature is for all users who want to flag unusual transactions.

Details 

With FA AML monitoring, you can detect potential money laundering attempts by flagging unusually large transactions and sets of transactions where a large trade amount is spread out in several transactions within a short period. FA AML monitoring can identify all individual transactions surpassing a certain value or all transactions within a given range of days that add up to a certain total value.

You can use the feature to flag large deposits which can be further analyzed by a compliance officer, and the analysis can be run on request or automatically.

The system tags transactions that breach the thresholds you define, provides feedback in a notification, and generates a CSV file of the flagged transactions. The file contains a Limit type column that indicates whether the breached threshold was a globally configured value for the process or a contact-specific threshold.

For more information, see AML monitoring in FA User guide.

Handling multiple price types in the Bloomberg market data connection

Why?

We implemented this to give users the option to use different Bloomberg price types for different asset classes.

Who is this for?

This feature is for all users who use the Bloomberg market data connection and want to use different price types for different securities.

Details

Until now, the FA Platform only allowed users to control the price type fetched from Bloomberg using the Close fields. For example, you could specify the price type in Close 1 as PX_LAST while entering another type in Close 2. This was insufficient if you needed additional price types for diverse financial instruments. For example, you might want to use PX_YEST_CLOSE for equities, PX_LAST_EOD for futures, PX_SETTLE for options, FUND_NET_ASSET_VAL for funds, and PX_YEST_BID/PX_YEST_ASK for fixed income securities.

You can now directly specify the price type in the Update code field. For example, you can enter "BBG000C267K7@PX_YEST_CLOSE" to indicate a preference for the PX_YEST_CLOSE price type, regardless of the default selection for the Close field. This update improves the flexibility and precision of fetching specific price types.

For more information, see Set up Bloomberg market data connector in FA User guide.

Other improvements

Trade order management 

  • Switch orders for fund switches now utilize "fund pairs" and only permit compatible switches. You can now only see the mutual funds that a fund can be switched to instead of all mutual funds in the system. The system creates fund pairs with security tags and security groups. For example, if you have a security tag SwitchGroup:ABC, the system only allows switching to securities in security group ABC. The "two legs" are now also assigned a tag to indicate a switch order.

Fee management 

Compliance 

  • Trade order validation now allows for checking the liquidity of buys compared to the agreed credit line. This feature is useful if you use the portfolio credit functionality in FA Back. For more information, see Validate trade orders in FA User guide.

Fixes

External reporting 

  • Tags used by AIF reporting to DNB are now properly configured and usable. Tags were previously missing.

  • AIF reporting now picks up the NET DV01 and NET CS01 description fields previously not in the report.

  • SIRA/PEF reporting now shows paid profits as gross instead of net value.

  • Market value is no longer incorrect in the SIRA/PEF report if a fund exchange was made in the reporting period.

  • In SIRA/PEF reporting, the holdings of the ten largest unit holders are now correctly reported in the latest version of the report.

  • In SIRA reporting, market values are now reported correctly if the fund portfolio currency is not EUR.

  • MiFIR transaction reporting now also works when the transaction security has a defined ISIN validity period.

  • The transactions report no longer fails during periods when a transaction is associated with an account with interest details.

Compliance 

  • The ex-post costs and charges report now shows the currency instead of “null” when the report is run on the contact level.

FA Front 

  • Fixed an issue in FA Front that caused subscription legs of switch orders entered through buying, selling, or switching to no be updated during execution.

Portfolio management 

  • Trade splitting no longer produces an error when using a comma as the decimal separator or locking rows.

Trade order management 

  • Trade order bulking now supports databases that use the MySQL database dialect in addition to supporting the MariaDB database dialect.

Utilities 

  • Transfering assets between portfolios now works. Upgrading to FA Back 3.22 sometimes caused the process to stop working and produced an empty window.

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