lumina operations€¦ · 3 product coverage lumina operations covers a vast variety of products...
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¿Qué es?
¿Para qué sirve?
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utiliza?
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zarlo?
LUMINA OPERATIONS
Lumina Operations is a complete front to back solution for financial institutions. The main highlights are:
• Multi Entity.
• Multi Product.
• Covers the functionality for Trading, Settling and Accounting.
• Cash and custody account management with the ability of calculating the treasury.
• Margin and Guaranty calls management.
• Complete corporate events calculation and management for all products.
• Integrates a full and complete operational workflow.
• Validates trading limits and settlement limits online.
• Event explode for all operative processes in order to generate the accounting.
• Centralized management of transactions and settlement for all products.
• Configuration and control of trading limits.
• Complete transaction management with the ability to streamline all financial products into the same
operational workflow.
• Transaction confirmation.
• Settlement instructions processing.
• Execution and management of all corporate events for all financial products.
• Automatic settlement instructions send to external institutions.
• Cash and custody account management.
• Margin and Guaranty calls calculation and management.
• Event explode for the accounting generation.
• Traders and trading supporting areas.
• Transaction confirmation areas.
• Settlement areas.
• Client account executives.
• Accounting areas .
• Maximizes and enables the automation of business areas with high manual operation and limited by high
information volume.
• Builds a highly efficient STP environment by acting as a hub for the entire transactional and settlement
process.
• Designed to process multiple products in different markets for different entities.
• Consolidates the processing with the ability to segregate functions based on users’ responsibility.
• Lumina Operations’ highly configurable workflow can be adapted to the different processes run be different
entities.
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Product CoverageLumina Operations covers a vast variety of products including Capital Markets, Money Markets, Mutual Funds, Equities/Bonds Borrows
& Loans, FX, Derivatives and Latin-America local instruments.
All products are user configurable using the application’s functionality without having to develop new features. By doing so, the time
to market for including new products is drastically reduced.
Fixed Income
• Zero Coupon, fixed and floating rate bonds.
• Floating rate bonds with single reset, overnight reset and
curve based estimation.
• Partial and Total amortization.
• Inflation adjustment for nominals and coupons.
• Local valuation conventions (e.g. Bonos, BPAs, BREMs in
Mexico; Bonos CER in Argentina, etc.).
• All coupon interest conventions.
• Structured bond support with the ability to edit any coupon
attribute.
Equities
• Ordinary shares, ADRs and Indexes.
• Dividends, splits, subscriptions, exchanges, fusions and spin
offs management.
• ADRs conversions.
• Facilitation & ADR (including broker, sponsor and SEC com-
mission).
Mutual Fund Shares
• Single and range based.
• Multi currency.
Futures
• Index, FX, Bond and Equity Futures.
• Local conventions support like TIIE, DEUA in Mexico and Bad-
lar, NDF MAE in Argentina.
• Future-Packs.
• Cheapest to Deliver.
Options
• FX, Bond and Equity options.
FX
• FX Spot, FX Forward and NDFs for any currency combination.
OVERVIEW
Money Markets
• CD, Loans, call money.
Complex Derivatives
• Complex Derivatives and Structured Notes modelling and
pricing.
• Corporate/Operational event negotiation and settlement.
• Warrants, TRACS/ETF, REIT Real Estate Investment Trust, CKSs/
Trusts
Cash and P&L Adjustments
• Payments and receipts on any date in any currency.
• P&L adjustments for charges and commissions.
Multi-Product Collateral Deposits • Collateral deposits in securities or cash.
• For transactions or positions.
BUSINESS FUNCTIONALITY
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Bond Configuration screen
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Repurchase Agreements
• Standard repos with clients and counter parties.
• Collateralized Repos (Single and multiple).
• Equity and Bonds.
Securities Borrow and Lending
• Equity and Bond borrows and lending.
• Fixed rate and/or MTM.
Derivatives
• Index and Cross Currency Swaps, FRAs and OIS.
• Local convention support (e.g., Swaps de TIIE or UDI in Mexico) and
special structures with step-up amortizations
• Asset Forwards (Debt/Equity).
• Swap Trading Calculator (Pricing with interpolated or zero rate
curve with solver for Swap Market Rate, Spread Market Rate and
desired PnL).
• Several algorithmic available for coupons generation (including
BBG).
OTC Options
• Counter party private options.
• Per contract option exercise.
Repo Administration screen
Rental Administration screen
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Bond transaction capture
Swaps Administration screen
Instrument Templates Configuration Besides the ample product coverage, the user is able to con-
figure instrument templates for frequently used products
complying with market standards. These templates contain
all required parameters and default values in order to be
able to identify the instrument as well as to valuate it.
These templates are directly used in the trade capture
screen, avoiding reentering all parameters manually.
This process speeds up the trade capture as well as
eliminating errors.
If required by the user, the default parameters can
be changed as part of the trade capture in order to
accommodate the instrument to special needs.
Trade Capture Lumina Operations provides specific screens with specific functionality in order to capture trades for each supported product. Every screen
shares the same operational criteria and usability scheme, but adding the support for special parameters depending on the product.
Lumina Operations uses specific screens for capturing trades for the different products. Each screen counts with specific functionality based on
the used product, but they all share the standard information to simplify the usage:• Instrument
• Party / Book
• Counterparty / Book / Client
Given the fact that each product has it’s own
trade capture screen, each screen was specifically
designed to capture the product’s specific informa-
tion.
In every case, the application has the ability to de-
fined default values and/or use instrument tem-
plates to pre-configure the trade capture process in
order to speed up process and avoid errors.
LO incorporates a number of controls and valida-
tions take place at Trade Capture level in line with
restrictions configured at contract portfolio level
(compliance).
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BUSINESS FUNCTIONALITY
Corporate and Operational EventsLumina Operations has a series of specific screen to deal with operational
corporate events, such as:
• Term transactions renewal for cash products like CDs and loans, as well
as for collateralized products such as repos and rentals.
• Early maturity for term transactions.
• ADR conversions.
• Manual refix for floating rate products. The application automatically
refixes transactions on maturity, having the chance to change the
calculated values.
• Portfolio automatic funding.
• Options exercises (listed and OTC).
• Swap Unwinds.
• Forward Cancellations Delivery.
• Corporate Events Forecast.
Transaction Management
Lumina Operations provides a centralized blotter for transactions’ control to assist the different areas. This blotter allows the user to review and
complete any required transactional information such as commissions, taxes and/or margin calls.
Transaction Blotter
ADR conversion
Pre-Trading Workflow
Transactions captured in Lumina are eventually exposed to a Pre-Trading Workflow demanding validation, confirmation and approval before
transferring to Middle Office. However, deals under this workflow are available for Risk & PnL calculation conveniently.
Client’s Report
• Account Statement.
• Tax Records.
• Confirmation.
• Corporate Events.
• Vouchers.
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BUSINESS FUNCTIONALITY
Taxes CalculationLumina Operations is able to determine value added taxes, withholding taxes as
well calculated taxes without retention, based on every country’s law and
complying with those regulations. Lumina incorporates a framework for Tax Profile
per Contract (accordingly with localization), distinguishing products and percent-
ages.
• TAX Statements Report for clients (annual report), in PDF, XLS or External
Interface.
• TAX Substantiation report with the information regarding withholding
taxes withheld in foreign countries (derivatives, money market, capitals)
• Taxes are all integrated to Account Statements and Accounting
Nevertheless, the application provides ways to review any calculated taxes and
change them as needed.
Transaction ConfirmationThe application allows for transactions
phone confirmations. To do so, the user will
access a specific screen which will let her/
him review the transaction’s
information before confirming it.
Multiple transactions confirmation is avail-
able through the add similar
transactions functionality, which searches
for same product and same counter party
transactions.
Broker and Client fees calculationFor transactions dealt with brokers, Lumina Operations
has the ability to calculate the broker fees for the product/
broker combination.
Besides this fee, Lumina Operations is able to calculate
client fees for each transaction.
All fees can be reviewed and changed if needed.
The application provides several reports to review all
commissions and fees as a whole.
Lumina Tax FrameworkAdditionally, Lumina allows users importing Non-Local
taxes calculated in others systems for those corporate
events recorded in LTO.
For products or clients requiring a
formal confirmation and/or legal
registration of the confirmation process,
Lumina
Operations will generate a proper confirma-
tion letter and/or ticket that can be printed
or sent via e-mail.
A generic format is available for emailing and
SWIFT messages. Additionally, the user can
build his own Confirmation Letters for Clients
based on available Datasets.
Confi
rmat
ion
edito
r
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BUSINESS FUNCTIONALITY
Trading Limits Editor
Trading Limits
Lumina Operations is able to perform an online exposure validation when capturing trades. This validation can be configured just as an alarm raiser
or if needed, to prevent the trade from being captured. Any trades generating limit excesses can be monitored and approved in order to let them
continue with the operational workflow.
When using this functionality to control trading limits, several different exposure lines can be configured:
• Local FX limits
• Daily and monthly limits based on the amount of money operated.• Mark to Market limits
• For various products updated online when
capturing trades.
• NDF limits
• FX limits for non deliverable forwards based
on the potential exchange rate refix.
• Loans, Calls, etc. limits
• For any product combination
• Using or not trades’ collateral
• Net or absolute exposure
• Other Limites: DTM/Maximum Tenor, MTM ex ante
& ex post, Credit Potential Exposure, Minimum
Spread, Off Market Rate
Repo & Money Market Tools A number of tools are available for both sides of the business, as shown in the graph: Bank and Brokerage House. It gathers the business related to
repo trading considering both the commercial force as the treasury desk, monitoring and controlling all processed related to this activity.
Regulated Treasury RatesA number of matrix of repo rates are published
by the Treasury Desk accordingly with the different
segments (private banking, premium, etc) and regions in
the system . These matrices are all used by Promotion
Channels (sales) and Repo Automatic Investment. Regulated Rates are defined by instrument, investment ranges, durations, etc.
Limits can be defined for:
• Economic Groups.
• Clients/Counterparties.
• Books/Traders.
• Booking Groups/Portfolios.
They can be declared for the whole universe or just for particular cases.
It is possible to indicate the applicability in terms of products, percentages, issuers, currencies and specific deal details (Sign, collaterals, etc).
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BUSINESS FUNCTIONALITY
OperationsRepo Trading under regulated treasury rates takes place under a given “market” time, in line with published rates, and customized for regions
and branches in case of being necessary. This LTO functionality holds a strong relationship with the Order Management module (LOMS)
where sales and promoters capture the daily repo operations on behalf of clients. This trading is later taken by the Treasury desk for approval
and execution. Additionally, the margin call and collateral module is also related with the repo trading due collateral assignment (See sepa-
rate M&C section).
BudgetLTO supports the definition of a daily budget for repo business
which summaries the clients’ repos maturing at system date. The
Treasury desk assumes those repos will be renewed with same
conditions (offset, instrument, etc). Total amount, maturities and
instruments are reported, including the associated WAP. Budgets
can be edited and modified. All clients’ trading is validated in
comparison with defined budget, forcing authorizations when
required. Net information helps the Treasury Desk to visualize the
instrument volume and the average rates (WAP) to be operated
against the Market in line with its own needs and the client’s de-
mands.
Repo Automatic InvestmentThe process of automatic repo investment is used to generate repo orders/trades automatically for a given number of clients with invest-
ment capabilities. Usually, those clients agree to invest the excess daily cash available in their accounts in short-term repos.
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BUSINESS FUNCTIONALITY
Corporate EventsLumina Operations is capable of automatically process corporate events
for Equities, Bonds, Options and Futures. By doing so the application will
calculate the corporate events’ executions on behalf each definition and
present the user with the results in order to decide when and how to ap-
ply them. Lumina Operations is able to calculate the following corporate
events:
Equities• Cash dividends
• Equity dividends
• Splits• Exchanges
• Subscriptions
• Spin off
Bonds• Interest coupon
• Partial amortization coupon
• Bond maturity
• Bond repurchase
Options• Listed and OTC option exercises
• With and without delivery
Futures• Daily settlement
• Maturity with or without delivery
In the cases on Bonds and Futures, all corporate events are calculated on behave
of the instruments’ definition and structure. In the case of Equities, the user will
have to configure the corporate events once the company announces them.
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BUSINESS FUNCTIONALITY
Besides the standard and simple corporate events, Lumina
Operations is able to deal with combined and multiple corporate
events.
Combined Corporate EventsEnables the configuration of several corporate events inside one
definition. The client will have to decide how much of his/her
position will he/she use for each participating corporate event. In
the case of not specifying anything at all, a default corporate event
will be executed.
Multiple Corporate EventsEnables the configuration of a series of corporate events executed
in order. Each corporate event will be executed using the previous
corporate event’s result as input.
Execution of Positional Corporate EventsLumina Operations will calculate and generate the corporate events
executions automatically as part of the end of day batch.
These executions are calculated on behalf the instrument balances
for client and own position accounts using the current application’s
calendars, instruments’ definition and corporate events’ definition.
The user will have the chance to review the calculated information in
the corporate events execution monitor and decide when and how to
apply those executions to the clients and own position accounts.
Execution of Operational EventsWhen dealing with events applicable to transactions instead of
positions and/or account balances, Lumina Operations provides a spe-
cific monitor. In this monitor the user will have the chance to decide how to execute, on a transaction basis, each event (E.g.: Option exercise
for OTC Options).
In case of Forwards or Swaps, the exexcution of theirs operational events
take place directly in their own monitor at transaction level.
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BUSINESS FUNCTIONALITY
Margin CallsThe application can calculate and manage margin calls and guarantees for any tran-
saction that requires it. Through the configuration of this functionality, the application
can automatically calculate the margin calls and generate the requests to constitute or
disband collateral. This whole process is directly connected to the settlement process.
The strategy definition will be used for the administration, generation and processing of
margin calls and collaterals.
Strategies - General Information
• Configurable per entity and customized by Client.
• Eligible collateral asssets.
• In any of the application’s currencies and product.
• Variable calculation periodicity.
• Online criteria changes for enabling and disabling features.
• Three calculation mechanisms:• Transactional: calculated per transaction (For Swaps, Net MTM for Legs +
Collaterals).
• Products/Position: calculated for a specific position for a specific product
(E.g.: Repos) for every Client (Net Agreement). Market is not considered
here.
• Client/Position: oriented to Exchanges, where double margin call can be
applied (Against Clients and Market).
Applicability
• Calculation parameters
• Closing prices’ and exchange rates’ sources
Maintenance
• Minimums for margin calls generations.
• Amount multiples for generated margin calls.
• Ability to capture margin calls manually (From Exchanges).
• Administration of received and delivered collaterals.
Rebates
• Calculation and generation of Rebate Payments and Receipts with both fixing and
floating rates
• Ability to define Single or Periodic payments
• Accounting registry
Position & Product and Position & Client
• Markets taken into account.
• Instrument types to consider.
• Transactions’ direction to include.
The configuration is made on an entity level in order to establish the standard behavior
of this functionality for all entity’s clients. Nevertheless, Lumina Operations enables the
override of this configuration on a client basis if necessary. The margin call calculation will
be executed on a daily basis in the end of day batch of the Lumina Suite. In this process all
margin calls will be generated in order to be fulfilled on the next business day. LTO
incorporates the ability to control the current client balance when using collaterals, as
well as the applicability of the collateral (Eligible).
Supported Products
It is possible collateralized and manage margin calls for most of the products into the system
including Repos, Rentals, Money Markets, Swaps, FX/Fx Fwd, Options and Futures . It is also
possible to set up a rebate rate to receive/pay for exposed collaterals.
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BUSINESS FUNCTIONALITY
Settlement Monitor
Settlement InstructionsThe application is able to retrieve default settlement instructions from the
legal entities as well as from the clients in order to pre-match the instruc-
tions to be used in all payments and receipts. Authorized users will then
have the chance to modify this information as needed during the settle-
ment process.
This automatic pre-match process relies heavily on the configuration of
standard settlement instructions for legal entities and clients. These stan-
dard settlement instruction can be configured for cash and custody ac-
counts as well for any combination of asset type and product.
Settlement Instruction Editor
Settlement SupportSettlement Movements monitoring
Lumina Operations calculates all settlement events for cash and instruments for all supported products.
The cash flows for derivative products such as Swaps, FRAs and NDFs, which depend on external rates and indexes to be fixed, will be calculated
once this information is available in the application’s reference data.
There’s one centralized monitor that enables the user to check and review the whole settlement process for any product.
Note that Fees associated to transactions generate also settlement instructions that follow the same flow described in this section., includ-
ing fees for generic settlement movements.
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BUSINESS FUNCTIONALITY
Settlement WorkflowLumina Operations uses a standard settlement workflow for all supported products. This workflow ensures that the whole settlement process gets
executed, performing each required step/activity needed in any back office area of any financial institution.
Each workflow’s activity represents a tasks to be executed by a user. Each activity will have a processing state as well as user registry in order to
be able to audit the settlement process. Besides this real time log, a history of all state changes and performing user will be registered in the
application’s log in order to be able to review the entire history.
The different activities are:
• Pending: process beginning.
• Account Completion: the settlement instructions are empty or partially set.
• Confirmation: counter party confirmation of the settlement instructions and settlement information.
• Approval Level 1 & 2: control stage before being able to release the settlement movements.
• Release: once the settlement movements were approved, they can be released to external clearing agents. In the case of having interfaces to
send this information to the external clearing agents, this activity will trigger this interface.
• Settlement: reconciliation of the settlement movements with the information provided by external sources such as settlement acknowledges
and/or debit/credit movements in the accounts.
Beside all these workflow activities, there’s an extra one to deal with fails in the settlement process. This activity is used to mark partial or total fails
in the settlement process, fails that will be then used in the accounting process as well.
Settlement Workflow Configuration
Lumina Operations allows the configuration of different settlement workflow profiles for the own portfolio as well as for clients. These profiles
define which activities have to be executed in the back office process. Doing so, the settlement process can be customized to meet the back office
requirements. The parameters are:
• Product Type: any of the supported products by
Lumina Operations.
• Payments/Receipts: on behalf the movement’s direc-
tion.
Each profile has the ability to be configured to use an
automatic or manual workflow:
• Automatic: all activities are executed automatically
in the application’s batch once the settlement date
was reached.
• Manual: the selected activities will be executed
manually by a user.
Settlement Profile Configuration
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Excess Authorization Monitor
Confirmation of settlement
Settlement Confirmation and ApprovalAs part of the workflow process, settlement move-
ments need to be confirmed with the counter parties
as well as approved (up to two levels) before being
released.
The settlement workflow can be configured in Lumina
Operations in order to customize it’s behavior depend-
ing on the type of client. Some client may demand no
workflow at all, while other may require all activities or
some.
Settlement Limits MonitoringCredit or settlement exposure areas need to monitor the settlement exposure with counter parties throughout the settlement process.
Therefore Lumina Operation counts with a settlement exposure limit control. Each payment or receipt will update the settlement limit
online. In the case of incurring in excesses, the application will raise an alarm that has to be validated in order to be able to advance with
the process.
The authorization monitor displays all the information regarding excesses in a centralized way in order to decide wether or not to authorize
the excesses. The entire approval activity will be logged in the audit trails of the application in order to be able to review any changes made.
All settlement limit status can be reviewed not only from this monitor, but from other monitors in Lumina Operations.
Settlement Policies and Mechanisms ManagementLumina Operations automatically completes all information related to the settlement policy (DVP or FOP) and the settlement mechanism
(e.g.: SWIFT, SPEI, INDEVAL, etc.). All this information is initially defaulted to the configuration associated with the transaction’s product and
settlement information. Nevertheless, the user is able to modify this information afterwards by editing the settlement instructions of the
settlement movements.
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BUSINESS FUNCTIONALITY
Generic
Settlement
Movement’s
Editor
Net & Split Editor
Manual Settlement CaptureThe application has the ability to process manual settlement movements not
originated from transactions in order to be able to process the entire back office’s
process within the same infrastructure (e.g.: commissions, expenses, market fees,
adjustments, etc.). The users can define a series of templates for these
movements, specifying default values, the applicable workflow activities as well
as the need for authorization in levels 1 and 2.
Settlement Movements Nets & SplitsLumina Operations offers the functionality for splitting and netting settlement
movements when needed.
Netting is the process by which several payments/receipts are gather together
in only one. This process simplifies the settlement process and exposure.
Splitting is the process by which one settlement movement gets opened in
several ones. Splits are used usually to settle to many different settlement
instructions as well as for partial fails.
All resulting settlement movements from splits and nets are treated in the same
way as simple or normal settlement movements. All workflow activities will apply
as configured as well as all controls. These settlement movements will also have
settlement instructions, confirmations and approvals before being released.
Net Strategies can be defined by Asset, Direction, Custody Contract, Own or Third Party Contract.
Additionally, a number of methods for consolidation of DVP Settlement are provided in Lumina.
Fails ManagementLumina Operations is able to manage fails throughout the settlement process. The user is able to mark settlement movements as failed as a whole or partially depending on the situation. Partial fails are managed through the use
of splits. Once a settlement movement was marked as failed, the user is able to follow up it’s situation. The fail information will flow to the accounting
process.
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Own and Client Account’s Editor
Accounts AdministrationThe accounts administration module was designed as a neuralgic point in the entire Lumina Operations process. This module enables the con-
figuration of accounts to be used as settlement instructions as well as to monitor balances and movements. Besides this, the entire reconcilia-
tion process can be run in this module. All this
functionality is available for nostro accounts
as well as client accounts.
Accounts configurationBy using the configuration screen for ac-
counts, the user can create, modify or delete
cash and custody accounts. This accounts can
be own account as well as client accounts.
Account balances monitorsLumina Operations provides a series of monitors to review the account
balances for custody and cash accounts. By drilling down through the
balances, one can access the detail monitor to review all movements.
These movements are classified as pending, settled or failed.
All movements monitors are able to display the real balance of the account as per settled movements
as well as using the theoretical view, which allows the user to select a series of unsettled movements
and calculate the impact to the ending balance.
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Sub account Portfolio ManagementLumina Operations has the ability to manage sub account portfolios as a virtual segregation of balances originating from different
processes and/or reasons. In this way, every account has the chance to manager several portfolio balances as well as a consolidated
balance. These sub account portfolios are being used normally for different nature balances such as Normal availability, Received collateral,
Paid collateral, Received rentals, Paid rentals, etc..
Movements MotivesMovement motives are the concepts to be used for each debit and credit movement
issued in an account. Every concept should define its applicability towards debit and
credits.
Sub Account Portfolio ProfilesBy configuring these profiles, the user defines
different criteria for segregating the balances of
accounts. These profiles will then be applied to the
accounts.
For each configured portfolio a series of motives
should be made available. These motives will be
the only ones allowed for movements inside the
portfolio. By doing so, the application will reinforce
the correct usage of motives to impact each
portfolio’s balance.
Motive ApplicabilityFor each supported product as well as for each way these products can be traded, a motive will have to be configured in order to deduce
the way the resulting movements will be injected into the sub account portfolios.
By doing so, each time a debit or credit movement gets generated, the application will have the correct information in order to deduce
the sub account portfolio to use.
Using this sub account information, the credit or debit movement will impact the sub account portfolio’s balance as well as the
consolidated balance of the entire account.
When dealing with manual settlement
movements not created by transactions, the
sub account portfolio information will be
configured in the movement’s template.
Once a movement gets generated, the
template will determine the correct sub
account portfolio to use.
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Treasury ManagementThe treasury management maps the custody of clients’ cash and/or instruments
to the own accounts acting. These own accounts will contain the entire custody
of client and will serve as the main repository to use when settling with external
counter parties.
Besides this information and by means of the funnels, Lumina Operations will be
able to calculate and process the treasury process.Functionality:
• Consolidates the clients’ custody.
• Allows the custody of instruments from any
country for clients.
• Defines the standard sub account profile to use
for client accounts.
• Limits the various settlement mechanisms avail-
able to client accounts.
The configuration of the account funnels is central to client account ad-
ministration and to the treasury process. By using the account funnels,
the application is able to group and consolidate the custody of cash and
instrument of client to the external accounts held by the legal entities.
Treasury ProcessThe treasury process is the one by which the back office guaranties that the consolidated balances of client accounts are totally and correctly
mirrored.
Executing the treasury process, the user will be able to mirror the settlement process done with clients with the supporting external accounts and
reconcile the settlement process in both worlds (Internal and external).
The main functionality covered is:
• Net settlement for cash and instruments
• Supports FOP and DVP.
• Many to many relation between internal and
external settlement movements.
• Automatic generation of special cases like client
instructed transfers.
The treasury process radically reduces the amount of work
the back office has to perform, speeding up the entire
settlement process and reducing errors.
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Accounts’ reconciliation with external sourcesWhen available, external electronic information can be fed into the Lumina Operations reconciliation process for account. This process reads
movements provided by external sources and, using pre-defined rules, matches those movements with the account movements. All
movements that were matched are directly set as settled, while the rest can be reviewed manually and matched manually.
The reconciliation of account movements gets propagated across the application to the settlement process, ensuring the consistency of the
entire information and workflow.
There are several ways to reconcile the
movements based on the rules already developed. Nevertheless, new rules
can be integrated in the functionality
without much effort.
By doing so, the application can be
customized to meet any client’s re-
quirements very quickly.
BUSINESS FUNCTIONALITY
Other Accounts Module Functionality Account StatementLumina produces an Account Statement (custody) for every contract using different formats (PDF, DB, proprietary interface for customization,
etc.). It is possible to indicate frequency, period, format and means (email for instance). Statements can be visualized before generation. It
includes different sections:
• Summary
• Money Markets
• Capital Markets
• Derivatives
• Movements
• Pending Settlment
• Porfolio Return (Net YTM, Weighted YTM)
• Taxes
• Corporate Events
• Spot Position and Collaterals
Statement information is also available in
different formats to be integrated into
proprietary systems or middleware.
Other Functionalities• Account’s funds blocking
Portfolio Performance
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BUSINESS FUNCTIONALITY
Cash Management - Clients’ Clusters LTO allows the definition of clusters of clients in order to control the cash existence in a consolidated way to monitor and resolve liquidity issues. Addi-
tionally, cash can be moved automatically between legal entities in the system for any clustered client with the purpose of
covering short positions.
Custody FeesFor Custody business, LTO calculates custody fees based on the average asset position in the month.
AccountingLumina’s accounting engine is a multi-entity and multi-currency state of the art module that generates the accounting for the entire Lumina’s operation
based on operational events. The module is rule based and user configurable. This rules are directly attached to the different business events (e.g.: trade
capture, settlement, coupon payment, fees, taxes, etc..)
that get captured in real time in the application.
All rules can be managed by using Lumina Operation’s or
through the use of specially formatted MS Excel™ spread-
sheets that can be imported into Lumina Operations.
The highlights of this module are:
• Multiple accounting schema support (Local, US GAAP,
etc.)
• Linkable to multiple accounting systems
• Multi-Entity and Multi-Currency
• Dynamic and flexible rules definition
The entire accounting information generated inside
Lumina Operations gets exported to the Accounting
Systems currently in use by our clients.
The whole information can be reviewed within Lumina
Operations before or after being sent to the external
system.
By doing so, Lumina Operations enables a complete
control and review process of the accounting informa-
tion from within the solution.
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ENVIRONMENT CONFIGURATION
Lumina Treasury provides flexibility in the configuration of the environment necessary to support the business. To setup all the system ele-
ments capture screens are grouped by area:
• Business environment: defines the booking and business structures for consolidation.
• User environment: defines user roles, access and permissions to the different system elements.
Business environment configurationThe business environment configuration includes the entire basic information needed to execute all daily tasks. This information is critical
for all day to day processes and provides a controlled environment. The basic and most relevant areas of configuration are:
• Client and roles configuration.
• Products & Instruments (fixed income, equities, futures and options, etc.).
• Own and client accounts.
• Standard Settlement Instructions.
• Taxes.
• Accounts related information (depositaries, account types, etc.).
• Settlement reference data (clearing agents, settlement mechanisms, etc.).
• Limit’s structure.
• Currencies and Calendars.
User EnvironmentThe security schema of the Lumina Suite is based upon users and roles. Users are assigned to roles they fulfill and roles are the ones with
the permissions to access and execute tasks.
The security structure works in two different levels, allowing administrators to give access to users based on roles and gaining access
to functions, as well as based on data (e.g.: entities, portfolios, curves, etc.). This segregation in security types enables a more thorough
control over the functionality and the data available to users.
In conjunction to the configuration and in order to provide accurate and complete information, a series of audit reports are available to
users. These reports expose not only the security configuration, but also the access to the application, changes performed by users to
business objects, etc.. All audit entries are recorded online.
Batch Reporting ModuleThis module enables the user to configure a set of reports with its own parameters for execution at a certain time of the day.
The system then will automatically generate the reports and store them in a predefined shared place or e-mail them to a given account.
Bonds and Person Editor
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Integration EasinessThere is a standard API to interface in information into Lumina:
• Transactions
• Instruments
• Clients
• Portfolios
• Market Prices and Coupons (Structured & Non Structured)
The interface can be scheduled in time, works on top of an internal/
external code matching process and is able to generate e-mails upon
completion to notify any errors. This interface can be easily modified
to comply to any sort of transport technology needed.
Processes• Report Batch Execution.
• Customized Scheduled Tasks.
• Monitoreo de Procesos.
• Maker & Checker for complex strutures
(contracts, settlement instructions, account, etc),
including Dual Control and e-mailing.
• End of Day Batch Processes for Areas (Front,
middle, back, and accounting) with padlocks and controls.
• Tasks’ Preconditions for controlling dependencies.
• Report Asynchrony Execution with alarm notification.
Closing and Scheduled Task Flexibility:• Standard Task Inventory.
• Dynamic Task per Legal Entity.
• Ability for Task Cancellations.
• Import/Export Task among environment.
UsabilityLumina Operations includes a series of tools thought to easy the usage of the application.
• All internal spreadsheet like screens can be exported to MS Excel™ in native format, printed in MS Excel™ format, all screen have the
ability to perform general searches.
• The whole information can be sorted by columns and searched by columns,
• Columns order can be modified and even hide columns. This modified views can be saved on a user level or even make them public
for other users use.
• All reports are equipped with a side bar on the left for the filtering criteria. Reports can be generated as normal spreadsheets or pivot
tables.
• All reports are MS Excel™ exportable without loosing the native format.
• All monitors and grids incorporates abilit for automatic configurable refreshing.
Scheduled task editor
TECHNICAL ASPECTS
24
All reports can be exported to MS Excel™ including format and the design
TECHNICAL ASPECTS
Reports present specific filters on a collapsible left panel and are
provided both in listed format or in drill-down layouts that let
the user navigate them
Portfolio Inventory Business Level Report
Report Portfolio Inventory Business Level exported to Excel™
25
• Users can customize pivot table reports and save them for future use. All these designs can be shared across users by publishing them.
• Since these reports are pivot tables, the user can change the fields being displayed, change the grouping criteria on a row level or
column level. All columns and rows can be filtered or sorted as necessary.
TECHNICAL ASPECTS
DataSets• Lumina provides a feature denominated DataSets as a parameterized mechanism for extracting date from the DB in order to construct
interfaces, reports or plain data. By using DataSets it is possible to build sophisticated processes for extracting or converting information
from Lumina with the following advantages:
• No extra cost to build interfaces inside Lumina,
• Lack of vendor dependency to new interfaces o data conversions,
• No need for upgrading system version,
• Users can design their own reports and incorporate them to the system,
Data ConversionData Conversion feature in Lumina
provides the ability to import and
export to MS Excel all the information
related to different business entities
in the system (accounts, contracts,
instruments, books, market data, etc.).
DC are particularly useful for initial
uploading and setup of the application
as well as for migrating info between
different environments and
pre-built test cases.
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TECHNICAL ASPECTS
Validation Chains – Pre-Trade Checks
Lumina incorporates validation chains to events related to orders and transactions, which determine the behavior of catch
reporting error, exception or warning.
Pre-Trade Checks – Orders
Pre-Trade Checks – Transactions
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TECHNICAL ASPECTS
View administration in spreadsheet like viewsViews can be customized inside Lumina Operations for any spreadsheet like view. The customizing includes reordering columns and
hiding them, customizing the view to the user’s need.
Once the customizing is done, the user can save this new lay-out.
In this way, the user can customize the same monitor with different information based on his/her needs and depending on the tasks
he/she wants to perform.
Many views can exist on the same spreadsheet like view within Lumina and for the same user. All these views are private to the user who
created them, but having the possibility to publish them and make them available to other users.
The customizing of views also include options like defining a view a the default view and auto re sizing columns.
Data WarehouseLumina Operations incorporates a warehouse which acts as a general repository for storing and flattening information from the system
to be consumed by external interfaces. Entities can consume that information based on a simplified view of the Lumina data model,
where main system components are stored. The module also allows the use of a historic paralell database as well as clean-up processes
and permanent consolidation.
Webservices Lumina incorporates Webservices for business components integration. The API allows both the exchange of business information as
well as the Lumina platform use cases execution. In addition, the framework allows an easy mechanism to extend new webservices.
Among other uses, it simplifies the integration with financial institution web portal as a mechanism to publish/receive order and report
balances and pre-trade checks, for both OTC and Quoted instruments.
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TECHNICAL ASPECTS
RTAThis module enables the automatic execution of use cases (Or test cases) for the main functionalities of the system, by using specific MS
Excel spreadsheets with the use case configuration. It simulates the use of the system by running daily activities. Outputs (Report, text files,
and queries) are validated and compared against a number of expected baseline results (Including performance). RTA is used intensively
in Regression Test processes.
Process Monitor• Centralized and real time monitoring of processes in execution.
• Dynamic administration of execution threads.
• Task distribution in different nodes.
• Distribuir tareas entre diferentes nodos.
• Multiples schemas for associating task to processes.
Model Bank Lumina Model Bank is a pilot installation of Lumina suite configured to cover all the common functionality provided by all possible product
installations Lumina. This configuration can be taken as a basis for the following activities:
• Preliminary Projects / Requirements Analysis.
• Early Installation (initial) in Client.
• Development and Unit Testing.
• Regression Testing.
• Pre-Sales / Demonstrations.
A company composed of highly experienced professionals in the areas of information systems, finance and accounting with a vast knowledge of the financial markets.120 professional with extensive technical and financial experience
Strong team-work and collaboration culture with more than 10 years working together
Owned and existing solutions for serving the financial market
Software Components and Frameworks
CMMI Level 3 certified Company
Focused in the integral development of projects
Research and Developement in new technologies
Combination of resources for the whole life-cycle of software projects
“Proven experience developing, implementing and supporting
mission critical financial systems”
Services
OUR COMPANY
Sales, Implementation and Integration
of existing solutions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OFFICESBuenos Aires:
Av. Pueyrredón 2446, 7th floor
C1119ACU - Buenos Aires, Argentina
Tel:. +54 (11) 4131-8500
Fax: +54 (11) 4131-8539
México:
Sierra Candela 111, of 412 (11000)
Col Lomas de Chapultepec, Mexico DF.
Tel: +52 (55) 5980 7450/7453
e-mail: [email protected]
and a sales representation in Spain:
Tel.: +34 618191694
e-mail: [email protected]
visit our website: http://www.luminaamericas.com
Application Development – Customized Projects
Technology Consulting
Applications Development
CLIENTS
• JPMorgan Chase
• Credit Suisse
• HSBC
• UBS
• Deutsche Bank
• Banco Voii
• Intercam Casa de Bolsa
• Barclays
• Actinver
• Scotia Inverlat
• Vector Casa de Bolsa
• Grupo Financiero
Intercam
• Grupo Financiero Ixe-
Banorte
• BTG Pactual
• Akaan Casa de Bolsa
• Grupo Financiero Multiva
• Grupo Financiero
BanRegio
• Bank of Tokyo-Mitsubishi
UFJ
• Kuspit Casa de Bolsa
• British American Tobacco
• Banco Base