Date: Mon, 29 Dec 1997 20:54:52 GMT Server: Apache/1.2.4 Last-Modified: Wed, 28 May 1997 21:32:13 GMT ETag: "2f8f6-30a9-338ca45d" Content-Length: 12457 Accept-Ranges: bytes Connection: close Content-Type: text/html Computer Research, Inc. Section 20


Outline of Section 20 Tier I and II System Features



Front Office/Offering and Trading System Department Header
Syndicate System Repurchase Agreement System
Financial (Currency) Futures System Clearing - Broker, Institutional and Retail Customer
Institutional Safekeeping/Clearing Tier II Compliance Reporting


Front Office/Offering and Trading System
Trader Offering - Establish on-line sales credits and offering.
Benefit:
  • Eliminate the black book.
  • Salesperson Trade Entry
Benefit:
  • Minimize duplication of effort. Allow sales personnel to enter their own trades.


Department Header
Position Accounting: A client may trade both long and short, both interest bearing and non-interest bearing securities in a single department. CRI maintains the daily accruals, accretion, market-to-market accounting and trading profit/loss .
Benefit:
  • This feature allows you to control and minimize the number of trading departments that the accounting and trading departments have to interact with on a daily basis.
On - Line System Edits of Eligible Versus Ineligible Securities for trading purposes.
Benefit:
  • Maximizes the amount of ineligible income that may be derived with Tier II powers. Also, prevents a client from trading an ineligible security in an eligible department(i.e., prevent violations).
Allows specific cost analysis by trader or group cost.
Benefit:
  • With one department, individual traders have unique accounts that allow them to track their cost and related profit/loss. However, a single department may be used by 30 to 40 traders.


Syndicate System
On-line profit/loss reporting by manager and syndicate member.
Benefit:
  • Syndicate inquirers may examine their positions and related profit and loss rather than foraging through voluminous reports.
Closing Letter automatically created by the system allocating profit and loss based upon participation.
Benefit:
  • System efficiency and timeliness of the system creation versus utilizing a secretary.
Monthly listing of competitive and non-competitive deals as of year-to-date file. This listing provides details such as profit/loss, issue information, settlement date information.
Benefit:
  • Provides a quick glance report for the Underwriting Department to view year-to-date progress.
New Issue Work Sheet supports the Syndicate Departmental Manager allowing a continual update and/or modification of offering description, maturity date, quantity, effective yield, dollar price, concession and take-down information. This information is shared with the Sales force based upon interaction of the Syndicate Manager during the "pre-sale" period.
Benefit:
  • Allows continuity between the branch offices and Syndicate Manager via an efficient and effective process. Generally this is a manual process for many front-offices which requires a continual re-faxing of information to the Sales force. The CRI New Issue Work Sheet is PC supported and allows on-line up-date for the purposes of automatically transmitting the information(via facsimile).


Repurchase Agreement System
Customer Profile that distinguishes collateral preference, various rate structures including net rate, scale rate, and special pricing. Also supports repo exposure, memo capability. These parameters allowed the system to automatically assign up to 15 pieces of collateral.
Benefit:
  • It is as good as any PC based application on the market today. However, mainframe support allows interaction with the other facilities that CRI has to offer.


Financial (Currency) Futures System
Commissions per opening and closing contract(s) are established on a broker by broker basis. Margin is also defined on a broker by broker basis using industry standard calculations such as Calendar Spreads, TEDs, FOBs, NOBs and MOBs. System features a contra broker clearing statement representing all activity affecting the account(margin, wire, commissions NFA fees, and so forth).
Benefit:
  • Minimizes interaction with the front and back office since the system is controlling all activity in one central location. The clearing statement should mimic the Future Broker thus maximizing control over clearing.


Clearing - Broker, Institutional and Retail Customer
System supports the Fail Code concept which is provided at point of trade or data entry. These codes can be modified subsequent to impacting the pending file. Multiple Customer BOT(firm Sell) delivery instructions can be established at the account level. Various clearing interfaces are provided including DTC, NSCC, Bankers Trust, etc.
Benefit:
  • Efficiency and flexibility are the key concepts here. The client interacts with fail codes to clear money only, or bonds and money. Unique Delivery Instructions established at the customer master level allow for ACH sweep (or any other money clearance routine) and physical delivery at a location desired by the customer. The money and position files automatically update the appropriate short side.


Institutional Safekeeping/Clearing
Institutional Delivery(ID) system.
Benefit:
  • No need to interact with the in-house DTC monitor.
On-line Cash Management Summary.
Benefit:
  • Your institutional clients can access today's trades, settlements, fail trades, and so forth with this application.
On-line Position Statements.
Benefit:
  • Your back office or your on-line clients can access position statements for the current day or up to the past six months.
Receipt file or no receipt file - The choice is yours.
Benefit:
  • Flexibility. Some clients hate to give up the receipt file.
Credit Advice - Long or Short(or none at all) determined at the account master level.
Benefit:
  • Flexibility. Long or Short if institutional client requests it. However, if the customer would rather receive our Broker/Dealer statement in lieu of the credit advice, then the client can be acknowledged within the account master.
Call Bond - Lottery System:
Benefit:
  • For those partial calls, we provide the same random call routine that DTC utilizes. In addition, we set up the payable after you approve the selected customers thus minimizing duplication of effort.
NSCC Bond Comparison.
Benefit:
  • CRI provides the contract sheets and allows the client the ability to stamp the advisories using CRI peripheral equipment.


Tier II Compliance Reporting
FRY - 20 Reporting, Risk monitoring for Contra Parties, Market Risk(down-load to a duration model),etc.
Benefit:
  • Right up the FED's alley.
Broker Dealer Compliance(NASD, MSRB and SEC)
Benefit:
  • Supports 15c-3-3 , 15c3-1, Fail Reporting, and so forth. We provided broker dealer accounting long before we were affiliated with financial institutions. Our system is a natural for these compliance requirements.




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