Standard Solution May 2023 - Release notes
Released: May 31st, 2023
Standard solution May 2023 introduces Active management (Aktiv Forvaltning) reporting to Norwegian Fund and Asset Management Association (Verdipapirfondenes Forening, VFF) and provides improved support for benchmarks, along with many other improvements.
Active management (Aktiv Forvaltning) reporting to Norwegian Fund and Asset Management Association (Verdipapirfondenes Forening)
Why?
This report was added to enable fund companies that are members of VFF to report statistics related to their active management service.
Who is this for?
Norwegian fund companies that are members of VFF and offer active management service.
Details
The VFF active management report is a report required by Norwegian VFF's Active Management service. It is reported by the member companies of VFF's committee for active management.
The report contains position figures (market value in NOK), grouped by customer segment and position allocation. The report is available as an optional package to install.
Learn more: VFF active management report in FA User Guide.
Improved support for benchmarks composed of the reference interest rate and fixed percentage
Why?
This feature was added because some clients want to use benchmarks composed of a reference interest rate (such as Euribor) and a fixed percentage, with some specific details that weren't possible to set up before.
Who is this for?
Everyone who wants to use a benchmark composed of a reference interest rate (such as Euribor) and a fixed percentage.
Details
FA supported setting up a benchmark composed of a reference interest rate (such as Euribor) and a fixed percentage already before. However, you could not automatically set the interest part with a reference interest rate based on a schedule – for example, take Euribor 12 security value from a certain date and update the value once a year).
Furthermore, the usability was poor when using the interest component without including any market value changes from the portfolio.
Now, we added base instrument, spread and schedule parameters in the Price from portfolio tab in the Security window. These parameters can be used for the fixed return part.
Learn more: Pricing based on linked portfolio in FA User Guide.
Other improvements
Trade Order Management
Order validation process is improved. Now, it has a new optional configuration for “Maximum percentage of a position, based on latest market value on the security, that can be sold in trade amount”. Cash account validation is now also skipped if the account is marked as "non-visible". Learn more:Validate trade orders in FA User Guide.
Trade order validation can now be used to execute cash trade orders, but leave the trades in securities open for trading in the markets.
Payments
We added support for sending payment files in different formats to DNB – for example, if you need to send both NETS and pain.001 files to DNB.
It is now possible to dynamically populate Category Purpose (supplier payment, financial payment, intercompany payment, and so on) in pain.001 files by setting
CategoryPurpose=XXXin the transaction's internal info field.In Norway, it is common for fund companies to collect money using direct debit/Engangstrekk via Nets when a client subscribes to the fund. Each fund has its own account, agreement and other information that needs to be populated into the payments file. Now, there is a new tab to store the fund-specific information to use in the payment file.
Extract costs from transactions process now has improved logic. If the source transaction doesn't have an account, the transaction is skipped. If cost portfolio is not configured, created transactions get the same account as the source transaction. If cost portfolio is configured and there is an account with the same number and currency as the source transaction’s account, that account is used. If the configured cost portfolio doesn't have an account with the same number and currency as the account linked to the source transaction or another account with the same currency, the transaction is skipped.
Trade Order Management
Bulk trade order execution now supports composite costs. If, for example, cost1 or cost2 is made up of two or more costs, it can now pass down the cost breakdown information to the underlying trade orders before executing them. This ensures that the resulting transactions also have the correct cost breakdown.
Trade order validation can now be used to execute cash trade orders, but leave the trades in securities open for trading in the markets.
Data aggregation
EMT filer reader no longer multiplies costs that are equal to or lower than 0.1 by 100. Instead, it assumes that it always gets correct data. If the file has incorrect data, you need to correct it before uploading it to FA.
Market Data Connector
It is now possible to add mutual funds from EOD Historical Data.
Utilities
The scheduling manager now shows details about the objects (portfolios, contacts, securities) the configuration sets and views are from as an icon matching the icon used for the view.
Portfolio Management
PM_VIE role now has permission to view portfolio groups.
Fixes
Signicat
Email/SMS templates for reminders about document signing are now properly configured.
Fixed an issue where Signicat signing task could be marked as complete before all individual signings are registered.
Payments
Fixed an issue with camt.053 incoming payments reader that didn't notify of errors by creating a task. Now it creates a task again.
Fixed an issue with outgoing payments, where the configuration for transaction-waiting payment tag didn't work as intended
Market Data Connector
Monitor market prices process now works also when Market data connector isn't enabled.
Fee Management
The text in the confirmation window for Fee calculation run from Overview/Portfolio is corrected not cause confusion for the user.
Fee calculation run from Overview/Portfolio now uses the transaction types selected in the user interface instead of using hard-coded values.
Fund Managment
FX Hedge, Previous other income, Previous share class income, Net accrued income and Units cost types used by Fund application are now added to preferences. They were previously missing.
Trade Order Management
Standard trading platform decision table now sets tags that are aligned with Standard Solution tag definitions.
Accounting
Bookkeeping SIE export API now works again with the latest version of SIE export process. It previously produces the 500 error when calling the SIE export API.
You can now define accounting rules for futures with charge price Total price to capture the cashflow instead of exposure.
Administration
Scheduling manager now shows the same saved views as one can see in other places in the system.