management system. Some of the most significant enhancements in the release
are the support of multiple portfolio masters, the introduction of a new
Benchmark and Portfolio Analysis environment and the possibility to use
external benchmarks. Other highlights of the new release include: Generic
limits; enhancements of Fund Administration; Overnight Index Swaps and a
Beta Calculator for equities.
Multiple portfolio masters enables the sharing of static data and reference
data for a company operating in several countries. It could also be a
segregation of departments in a company or a split of the mother company and
its subsidiaries. This also makes it easier to include or exclude users of
the various portfolio groups and portfolios.
In Position Analyses a new window - Benchmark and Portfolio Analysis - has
been prepared. Here key ratios can be viewed for large quantities of data,
and comparisons can be made between the portfolio positions and a chosen
benchmark. Furthermore data can be seen as a table, a pivot table or as a 3D
chart view. Specifically for the Danish market an integration has been
established to RIO enabling direct access to key ratios for Danish mortgage
External benchmarks can now be employed in TMS2000. Benchmarks such as MSCI,
DAX, FTSE, S&P, etc. can be maintained so performance for these external
benchmarks can be made and this also serves as input for the new Beta Calculator.
The most pronounced new feature within the Limit module is the introduction
of Generic limits. The major benefit of Generic limits, is that it allows
for easy maintenance of a line/limit system with many uniform limits.
Changes in a Generic limit will subsequently affect all future limit
calculations for portfolios that are attached hereto.
Several aspects of Fund administration have been improved. Firstly a fund
service cost has been introduced enabling separated costs being implied when
holding funds in a fund. Secondly for the German market certain tax rules in
relation to the treatment of Zwishengewinn, Aktiengewinn and Ertragsausgleich can now be handled by TMS2000. Additionally, formulas can now be used in Fund Schemes and Sub-Schemes. The latter can be referred to, and from a number of Fund Schemes, to allow for a structured approach where a part of a Fund Scheme which is identical for a number of funds may be referred to and maintained in one place as a fund Sub-Scheme.
The OTC money market instrument - Overnight Index Swaps (EONIA, SONIA, CITA,
etc.) has now been developed. The instrument operates with an overnight or
tomorrow next interest rate as a reference rate and a money market interest
rate, e.g. EUR 6-month deposit as fixed rate. The floating leg is compounded
daily and payment is effectuated at maturity. The principal serves as a
reference for calculating the correct payment amount to be exchanged at the
time of maturity.
The new Beta Calculator can be used to calculate statistical key ratios such
as alpha and beta for any equity or fund against any benchmark, index
security, fund or equity. The data calculated here can then be used in the
Equity Risk Factor Analysis.
The WEB solution is improved in a number of ways. As a new WEB based
interface module, SimCorp has in a joint venture with Skandinaviska Enskilda
Banken, developed a new WEB solution for SEB trading station for fx trades.
For a customer with both a TMS2000 installation and the SEB trading station this solution will then enable STP by automatic transfer of all details for
fx trades to the TMS2000 installation. Further processing information being
handled in TMS2000 will likewise be transferred back to the SEB trading station.
Also worth mentioning is the improvements to the Filter toolbox. When importing a file from an external supplier, it is now possible for the customer to do their own reformatting of the data in order to import it to TMS2000. This could for example be a price input.With one of the largest financial system development teams in Europe, SimCorp continuously designs and develops TMS2000 resulting in two major product upgrades each year. Recognition of the high standards and quality that is behind the development of TMS2000 has resulted in SimCorp being awarded CMM level 2 certification. This high level of commitment to product development ensures that SimCorp maintains its market leading position for its TMS2000 system, which combines straight through processing with broad instrument coverage and risk management.