Confirmations
Confirmation management on governed templates.
Framesoft Confirmation Generator (FCG) produces and manages trade confirmations using the document generation, workflow and archive capabilities of the Framesoft platform. Framesoft Document Management (FDM) is covered below.
Benefits
- Short-form and long-form confirmations
- Workflow from generation through dispatch and matching
- Real-time trade and counterparty interfaces
- XML templates, archive and a full audit trail
Confirmations as controlled documents
FCG produces and administers legally binding short-form and long-form trade confirmations for OTC instruments — interest rate, credit and equity derivatives, repo and securities lending, and other instruments. A confirmation is a legal document. Treating it as a print-out from the trading system is how operational risk accumulates. Based on the trade and counterparty data received, FCG checks whether the data and a valid master agreement are available, and then decides short form or long form.
From the trade system to the counterparty
Workflow covers generation, adaptation, release and automatic dispatch. Working lists show status and allow intervention. To-do lists cover editing, signing, four-eye approval and resending before dispatch. Watch lists cover matching of incoming confirmations and the chaser process. A matrix states which documents and channels are mandatory or optional by product. External documents can be inserted and versioned inside the workflow. Real-time interfaces take trade and counterparty data from middle office, back office and trading systems, and can report outstanding trades by counterparty and days, or trades with no master-agreement reference. Dispatch uses the fax server, email, websites or message channels such as SWIFT, DTCC and SMS, configured with XML or SQL. Incoming countersigned confirmations are matched through the scanning solution, including barcodes. Data consistency and integrity checks run before a confirmation is produced. Multilingual XML templates are filled with key data and conditional text, and the generated files can be PDF, XML, DOCX, RTF or XLSX. A web client is available as an add-on. New trade types and events can be added by trained users without programming. Every confirmation and its associated documents are archived, including through FDM, with document history available.