Frankfurt am Main, 15. April 2013: A new release of FSP has been rolled out to one of the world’s largest investment banks.
A new release of FSP is now covering the new regulatory requirements regarding the Offering Circulars for new issues of structured products. The main benefits of FSP’s generic configuration tools came into play nicely, accelerating the implementation to a few weeks for a whole range of products. In a nutshell, the initial goal was minimizing the necessary review and approval tasks while at the same time making the OCs more manageable and easier to read for the final investor.
It became clear, that new functionalities to be introduced during the implementation now had to cover the splitting of blocks of newly issued securities into groups of products and documenting each of these groups in a separate OC, while maintaining the block nature of the issue process as such.
So, besides the requirement to implement a completely new set of textual and structural requirements for the document templates of OCs using the new base prospectus, it also became necessary to rethink a number of aspects surrounding document and other output generation. As a result of this new set up, it became necessary as well to rethink some of the supporting distribution channels, in order to cover at the same time the existing high demands on efficiency, usability and workflow control.
Having FSP’s powerful configuration and scripting tools at hand proved invaluable in a timely and efficient delivery of the requirements, ensuring a seamless transition from the existing to the new base prospectus version.
Further business cases, functional enhancements and additional products are in preparation for release into production in the near future, also targeting additional markets and extending the reach of FSP’s support for new product issuance into other departments of the bank.