Softech Systems introduces Commodity BackConnect –
a premier back office system for commodity traders. Commodity
BackConnect benefits from the experience and rich feature
set of Softech’s Equity BackConnect, and brings very
extensive and powerful back office functionality to the
commodity broker. Besides, Commodity BackConnect is completely
compatible with Equity BackConnect, and both products will
be integrated to use a common brokerage-wide General Ledger.
Commodity BackConnect is integrated with a top of the
line front office and trading terminal in which the market
can be viewed on-line, and orders can be entered, which
are conveyed to the NCEL trading system in real time.
The system is designed so that individual as well as institutional
clients are able to watch the stock market live, place
trading orders on-line, and view the position and analysis
of their portfolio. This will improve the accessibility
of the stock market to clients and as a likely consequence,
bring tremendous volume of extra trading business for
brokerage offering an Internet Trading System.
The system is interfaced with the NCEL trading system,
automatically imports all relevant data from NCEL, such
as trades, margins, settlement positions etc, and exports
all necessary set up data to NCEL, such as client information,
client margins etc. Thus, the back office system remains
completely in sync with the NCEL system, and gives a completely
factual picture of the broker’s business.
The system offers a number of business advantages, such
as, increased efficiency, better risk management capabilities
and lower cost with processing ability to manage the trade
cycle from order to settlement. This system will offer
increased capacity, and cater cost-effectively for increased
workloads without the need to hire more staff. The additional
risk management measures in the system will enable senior
staff to promptly respond to business opportunities and
also reduce company’s financial risk in a volatile
market.
The internet based trading and back-office system can
be installed and run on a central server available over
the secure internet/intranet or LAN, which will be accessible
to client customers, top management and operations staff
from anywhere in the world. The system is built around
a strong client/server architecture using Oracle database
to speed access to data and client information. It provides
very user-friendly windows based interface to clients
and back-office operations team.
Commodity BackConnect provides very powerful end to end
support for the complete commodity trading, settlement
risk management, billing and general ledger functions.
It consists of a number of tightly integrated modules
that cover all the aspects of back office operations.
The various modules and their key features are listed
below:
MarginConnect Features
Trading and Settlement Module
- Integrated with general ledger
- Multiple Borkerage Branch Offices
- Order to confirmation complete process handling
- Client wise Settlement positions Cash/Commodity
- Trades Modification and Split Trades
- Loan Entries
- Bank AutoCredit/Debit payments
- Reports
- Trades (Date wise/ Trader/ Client/ Commodity/ Settlement
Period wise/Gross & Net Rates)
- Buy/Sell Detail & Summary Reports
- Confirmations to clients.
- Holding
- Client Ledger
- Commission Reports
- Client margin report
- Exposure report
- Portfolio reports
- Several other statistical reports
- Bill Generation Process
- Bill Cancellation process
- Imports from NCEL
- Exports to NCEL
Custody Module
- Integrated with Trading Module
- Integrated with general ledger
- Commodity movement Transaction config.
- Custody In/Out Type
- Chargeable yes/no
- Deliver/Receive
- Commodity in Custody
- Client wise Custody Billing Period Configuration
- Custody Expenses entry
- Bill Generation
- Bill Cancellation
- Reports
Internet Based Order Management
and Routing System
- A web based client order and portfolio management system
- Trade entry
- Market Watch
- Waterfall Ticker
- Time of Sale View shows all trades in a particular symbol
along with the time stamp
- Exchange Watch
- Price Alerts
- Price Graph
- Index Graph
- Portfolio view for current clearing and overall position
- Client Margin
- STP Order Management and Routing System to convey orders
directly from back office to NCEL trading system in real
time.
- All views are highly customizable showing stock feed
for trade, best market, and stock exchange index
- All views have column, symbol/market, color, and font
selection
- Reports
Risk Management and Margin Module
- Complete on-line pre-order margin checking
- Order blocked if insufficient margin for order
- Safe system for on-line trading without risk of client
default
- Initial Margin
- Maintenance Margin
- Variation Margin
- Delivery Margin
- Order margin
- Trade Margin
- Increase of Margin as settlement period elapses
- Value at Risk Model
- Accounting of client margin with broker and of broker
margin with NCEL
- Margin Calls
- Auto-Liquidation
Trading member Functionality
Support
- Define Initial Margin for each security
- Define Maintenance Margin, Delivery Margin, Margin increase
with time
- Register Clients
- Define commission for clients
- Define margin increment for clients
- Define client parameters, e.g. auto-liquidate on close
of trading
- Enter client (house) orders
- Deposit / withdraw Margin – cash + securities
- Enter closing rates and perform valuation of margin
securities
- Issue / Process Margin Call
- Accept custody of commodity for delivery
- Deliver commodity to CM
- Receive commodity from CM
- Deliver commodity to client (buyer)
- Charge warehouse charges and transportation charges,
if any, to client
- Process financial transactions debit/credit
Reports:
1. View Client trades
2. View Client open positions
3. View Client Margin deposit and consumption
4. View Daily Settlement Prices and Mark to Market of
all clients
5. View Money transactions of clients
6. View client custody positions
Clearing member Functionality Support
- Define Initial Margin for each security
- Define Maintenance Margin, Delivery Margin, Margin increase
with time
- Register TMs
- Define commission for TMs
- Define margin increment for TMs
- Define TM parameters, e.g. auto-liquidate on close of
trading
- Deposit / withdraw Margin – cash + securities
- Enter closing rates and perform valuation of margin
securities
- Issue / Process Margin Call
- Accept custody of commodity for delivery
- Deliver commodity to NCEL
- Receive commodity from NCEL
- Deliver commodity to TM (buyer)
- Charge warehouse charges and transportation charges,
if any, to TM
- Process financial transactions debit/credit
- Perform admin money adjustment
- Generate TM Bill
- View TM open positions
- View TM Margin deposit and consumption
- View Daily Settlement Prices and Mark to Market of all
TMs
- View Money transactions of TMs
- View TM custody positions
Reports:
1. View Trading Member open positions
2. View TM Margin deposit and consumption
3. View Daily Settlement Prices and Mark to Market of
all TMs
4. View Money transactions of TMs
5. View TM custody positions
General Ledger
- Multilevel Chart of Account
- Open coding structure
- Double entry system
- Cash/Bank Configuration
- Journal/Cash/bank voucher types
- Monthly/Yearly voucher serial
- Multi Cash/Bank books
- Journal Voucher Type
- Provisional vouchers
- Subsidiary ledger account
- User Defined Final Account Notes
- Receivable/Payable
- Trial Balance
- User Balance Sheet (with and without provisional effect)
- ser Profit & Loss
Tariff & Billing (Commission)
- Flexible Transaction wise tariff charges
- Integrated with General Ledger
- Client/Commodity wise
- Tariff Quantity/Amount/Rate wise
- Tariff Slab Structure
- Variable tariff with minimum and maximum limits
- Cover all modules
- Reports
Authority Management System
- User wise access rights of each entry
- User wise access rights of operation with in each in
entry
- User wise access rights of each report
- Group rights
- Exception rights for a user
- Save/Post operation access rights
- User wise Audit Log
Clients of CommodityConnect
- KASB Securities
- IGI Securities
- Abbasi and Company
- Asim Zafar Securities
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