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PRODUCT - Functions



Custody

The OLYMPIC Banking System includes a wide range of functionality to Securities Custodians such as:

  • Safe-keeping assets/securities such as stocks and bonds, and commodities such as precious metals and currency (cash), domestic and foreign.
  • All positions in OLYMPIC are denominated by custodian allowing the system to maintain:
    • Nominee positions
    • Positions with sub-custodians.
  • Settlement of purchases and sales and deliveries in/out of securities and currency:
    • OLYMPIC optimises the workflow by proposing default/standard settlement instructions for clients and counterparties based on information defined in the parameter tables, in order to accelerate transactions and reduce the risk of errors without leaving aside the user access for exceptional cases requiring specific intervention.
    • Possibility of generating security confirmation messages for the delivery or receipt for various interfaces. The application covers all aspects linked to a stock exchange transaction from the instruction by a physical client, by an institution or by a bank (trade orders) through to its final settlement, i.e. confirmation of the delivery and/or receipt of the securities by the bank's custodian. It can generate the relative SWIFT messages automatically.
    • The system can read incoming SWIFT messages, and generates and books transactions depending on the contents of the message.
    • Position mutation statements can be generated and sent at any time (scheduled creation of position mutation statement) as securities positions are automatically updated in real-time and the status of deliveries or receives is also updated.
    • "Unsettled trades/deliveries" are also supported and marked as "pending" in delivery management. The client's portfolio position is marked with available securities and pending securities. The system can automatically change the status of these positions via receipt of SWIFT messages.
    • It is also possible to send and monitor settlement instructions of on-exchange shares and bond orders/on-exchange equity orders (as a clearing member)/off-exchange shares and bond orders (via external broker) as SWIFT settlement instructions are generated for on- and off-exchange transactions. A report detailing settlement differences is available through a specific OLYMPIC program.
  • Collateral management: securities placed as collateral can be clearly identified as such.
  • Collect information on income from such assets (dividends in the case of stocks/equities and coupons/interest payments in the case of bonds) and administer related tax withholding documents and foreign tax reclamation.
  • OLYMPIC can:
    • Manage voluntary and involuntary corporate actions on securities held such as stock dividends, splits, business combinations (mergers), tender offers, bond calls, etc.
    • Automate the creation of an event by receiving notifications from various providers: Telekurs VDF – SWIFT (MT564/568) - via structured messages.
    • Create periodic events automatically through the securities characteristics (coupons/dividends).
    • Simplify the management of a corporate action by automating the various processing steps (extract holders, generate linked transactions, automatic booking, etc.).
    • Store and apply holders' standing instructions for voluntary corporate actions.
    • Store and apply bank default instructions.
    • Receive sub-custodian's confirmations via SWIFT (MT566).
    • Automate the booking of transactions generated (matching with the sub-custodian's confirmation).
    • Limit operational risks through:
      • restrictions defined prior to the posting of breakdowns
      • through the generation of warnings throughout an event's life-cycle.
  • Manage custody fees:
    • Definition of fees based on market, security, deposit location.
    • Flexible fee calculation (monthly, weekly, etc.).
    • Possibility of managing preferential conditions by portfolio.
    • The reference currency of the custody fees can be defined and paid in any other currency.
  • Provide information on the securities and their issuers such as annual general meetings and related proxies.
  • Maintain currency/cash bank accounts, effect deposits and withdrawals and manage other cash transactions.
  • Perform foreign exchange transactions.

Custody - OLYMPIC Banking System includes a wide range of functionality to Securities Custodians