Standard Solution January 2023 - Release notes

Accrued fees have so far been calculated using accrued fee transactions linked to accrued fee accounts. If there is a need to know the accrual on a daily basis, it would result in lots of unnecessary transactions in the portfolio. 

To provide a more practical overview of the accrued fees, accrued fees can now be stored in the portfolio key figures. The value can be seen in the Portfolio window, as a column on the Portfolios view, and used in customized reports. With this approach, the changes in already calculated time periods are also considered, because the accrual is always re-calculated daily from the previous capitalized fee.

The standard fee calculation process now has the option to store calculated fees as key figures. If selected, the trade amount(s) of the fee transaction(s) returned is stored as a portfolio key figure with the Accrued_fee transaction type code code, and the transaction is not saved. 

Learn more: Handle accrued fees and capitalization in FA User Guide.

In sending trade orders to a trading platform, FA can also process and execute fund trade orders initiated outside of FA. For example, a common use case of the integration would be a fund company that receives new subscriptions and redemptions into their funds, executes orders and sends back confirmations.

When the distributor sends subscription or redemption orders to FA, they expect to receive Status and Confirmation reports back from FA. You can now send sending trade order updates and confirmation reports in ISO 2020022 V4 format back to the distributor. 

Orders imported from the distributor are tagged, and you can search for them and generate Status and Confirmation reports to send them back to the distributor. It is also possible to schedule the report sending against different saved trade order views to automate the flow.

Learn more: Receive trade orders from fund distributor in FA User Guide.

The Send message process is used to send email or SMS messages. You can send emails to contacts based on a contact, portfolio, transaction, or trade order search.

The process is now improved, with more options for defining the addressee to send the emails to. You can now select primary contact only, all contacts, portfolio asset managers or primary contact representatives. In addition to that, the process can now also be scheduled to run automatically.

These improvements open up for many different use cases, but for example, it is now possible to automatically send emails to clients' advisers when orders are created. It can be a back office team creating an order, and the advisors should get an email when the order is created to perform 4-eyes check or similar.

Learn more: Send and receive emails and SMS messages in FA User Guide.

In earlier versions of Standard Solution, there was a limitation that made it impossible to create payment files (i.e. pain.001 files) for multiple banks in one environment. 

There could be cases where an asset management company uses two or more different banks (i.e. Nordea & SEB) for payments, and this version solves that problem by providing separate configuration fields per bank. This means that the bank details can be defined per bank, and payment material is generated with the needed bank-specific details.

Learn more: Set up payment instructions in FA User Guide.

In this version of Standard Solution, we switched to using a new implementation of settlements, which allows greater configurability and usability. In addition, the new implementation enables new features such as batch SWIFT messages, which some custodians require. The new settlement implementation also helps us to support more banks in the future.

The transaction-related information that is needed to generate the settlement messages can be filled manually in transactions, but in many cases, it is easier to use decision tables to fill it in automatically. This version of Standard Solution also provides a sample decision table for that purpose, and our User guide documentation has been improved and clarified.

Learn more: Settlements in FA User Guide.

Tax reporting

External reporting

Trade Order Management