Press release

Coexis announces next generation software for capital markets.

Syn~Apps OVERVIEW

London March 27th 2003. The first three applications to make use of Syn~’s revolutionary technology cover settlements, order routing/funds supermarket and counterparty reference data management.

Syn~Settlements represents a new approach to the delivery of the next generation of settlement systems. Its ability to manage transactions for almost any asset class coupled with its focus on exception driven processing allow banks to achieve significant operational and technology cost savings. Its unique approach to solution delivery ensures that business benefits are delivered with incredible flexibility, both during initial implementation and subsequent enhancement.

Completely customised solutions
The Syn~Settlements application delivers the rich-business functionality that would be expected from a mature settlements package. It also provides unprecedented levels of flexibility normally only associated with custom systems development activities. Thus systems that precisely fit the business needs can be deployed within budgets typically associated with the implementation of a packaged solution.

A Syn~Settlements solution is based on modelling an organisation’s business. It therefore contains industry standard models of all aspects of the Capital Markets business and the operational rules needed to support it. These models and rules are rapidly and easily changed and extended to meet the precise needs of the customer.

Syn~Settlements business functionality
Syn~Settlements is product and business neutral supporting the widest range of operational activities within a financial institution. Its functionality covers Trade/Order capture and routing, post-trade processing, settlement, position management and static data management.

Instruments
~ Bonds (Eurobonds, international sovereign/non-sovereign debt, FRNs)
~ Equities (international, ADRs, Warrants)
~ Money Markets (FX, bills, CDs, Com. paper, Loans& Deposits)
~ Others (futures, options etc)

Post-trade processing
~ Enrichment (Depot/Nostro Accs, settlement instructions, accrued, fees & charges + any number of user defined e.g. brokerage)
~ Validation (ranges, check static data, etc)
~ Full partial data/correction /cancellation handling
~ Confirmation generation & management
~ Exception-driven throughout

Position Management
~ Book positions – real time, trade/value dated, positions to any date, stock & cash,
any aggregation structure
~ Stock record – cash/securities, real time, forward ladders, open items, user defined segregation
~ P & L – (avco, fifo, etc), real-time, realised/ unrealised
~ Corporate actions – entitlements, proprietary & client positions, repos & fails
processing, claims processing

Full business coverage
~ Principal, agent/broker, fund manager etc
~ Cash trades, repos, custody, treasury, Borrowing & Lending
~ Multi-everything (company, entity, currency)

Settlement
~ Instruction generation - DVP, FOP, safe custody, cross currency
~ Completion – automatic, manual, partial etc

Static Data Management
~ (Counter)parties, instruments, other reference data
~ Fully-flexible data models
~ Multiple sources/sinks for data
~ Automated workflow for authorisation/data errors
~ Easy (code-free) interfacing to other systems

Syn~FundsSupermarket
The Coexis order routing and management application, Syn~FundsSupermarket, is a software product to support financial institutions wishing to manage and automate the "buy side" processing of orders in the securities markets, with a particular focus on the Unit Trust sector. It allows for the capture, routing, processing automation and management of orders which are either directly input from telephone or fax communications, entered by a client over the Internet, or received from third-party networks or applications.

Syn~FundsSupermarket provides complete management of all orders from receipt through to initiating back office processing. Orders can be received from a variety of sources (local PC, intranet or internet web browser, Reuters ITD connection, FIX interface) and can either be automatically consolidated and routed for execution to internal or external execution services or can be managed and worked through the day. For Unit Trusts, orders can be automatically batched up and submitted ready for NAV deadlines to provide cost-efficient best execution for clients. As client orders are filled in the market, Syn~FundsSupermarket manages the matching of client and market side orders, reporting fill statuses back to the clients. Where possible external communication to the clients is fully automated. Orders within the systems are automatically enriched with appropriate prices (average execution prices, NAV values etc), charges, commissions, settlement dates etc to allow rapid communication of all key economic information to the client. Calculation of fees and commission is controlled by a flexible rules-engine allowing decisions on the basis of multiple, chosen attributes and including banding facilities. Trade records for both the client and market side trades are generated and managed within the Syn~FundsSupermarket environment.

Syn~Customer
The management of reference data is becoming increasingly critical to business success. Despite its centrality in core business activities, reference data is frequently duplicated, manually maintained and often inconsistent even within a single organisation. Syn~Customer provides a standardised and managed environment to address these problems.

Syn~Customer contains standard data models for all types of reference data built up by Coexis from many years of working with the world’s leading financial institutions. These models can therefore provide a significant start in delivering a solution. However, the models are in no way fixed and can be extended at will to support any data required by the organisation. A particularly powerful feature of the data models is to be able to manage hierarchical inter-relationships between, for example, organisations. Multiple different sets of relationships can be captured to address the conflicting and differing needs that occur when attempting to structure such data.

While a single reference data record may be concerned with a single business concept such as information on a counterpart, rarely is all the required data available from a single source at a single point in time. In reality data must be maintained and authorised by numerous individuals and groups who must be provided with appropriate secure access to that information. Syn~Customer supports the definition of data ownership to ensure that information is only modified by appropriate members of staff in accordance with the bank’s regulatory and internal rules. It provides different virtual views of the data and processing associated with any part of the data model to individuals. This facility provides and enforces clear data ownership allowing full security and access control to be achieved with minimal effort. These same facilities can also be used to meet business-driven processing differences such as those relating to geographic (e.g. legal names in multiple languages) or business-line specialisation.

Note for editors
Please see separate releases: “Coexis announces next generation software . . . ” and “Syn~ Technology Overview” for more details.

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