Millennium NewClear TM

Transcription

1 Millennium NewClear TM Multi asset clearing and settlement for financial markets

2 Millennium NewClear TM The new clearing and settlement paradigm: consolidated, real-time, cost-effective post-trade management regardless of asset class or market structure.

3 Flexible. Scalable. Secure Capital markets aren t what they used to be. New trading dynamics, industry integration and regulatory and structural transformation have altered the landscape, creating new implications for and demands on post-trade management. You need a post-trade platform that adapts to changing trading and regulatory environments quickly, easily and transparently, cutting time to market and giving you an unwavering competitive edge. Based on Millennium IT s patented, globally proven BID (Business Innovation Dynamically) technology, Millennium NewClear offers a consolidated, flexible, lower-cost solution that runs on off-the-shelf hardware and scales to fit your business needs. Rule-based BID technology defines business context and logic simply with complete transparency. Millennium NewClear is domain-intuitive, simplifying implementation, business operations and maintenance.

4 Consolidate clearing, settlement and risk Millennium NewClear is designed to meet the needs of central counter-parties and clearing members in any market, anywhere in the world. It offers comprehensive, effective post-trade management, irrespective of market structure or the class of securities being traded. This total post-trade solution supports central and bilateral clearing and settlement facilities for both exchangetraded and over-the-counter products. You can clear, settle and manage risk for a portfolio of positions held across multiple asset classes, defining and modelling equity, fixed-income, derivatives, commodity and synthetic assets through an extensible rule-based framework of trade management, position creation, clearing, risk management and settlement logic. User-defined groups and hierarchies Define your stakeholder groups and build your own account hierarchies leveraging multiple market and participant structures. Specify computational and information links between various account types. Change these definitions at will to meet evolving business demands. Effective risk management Define, derive and model risks for all types of securities using a variety of models. Compute aspects of risk such as array, inter-month spread, concentration and delivery risk. Configure and normalize historical data for input to modelling and testing functions. You can also link external risk solutions through programmable gateways. Programmable interconnectivity Enjoy hassle-free connectivity to markets, participants, central depositories and payment systems through a constellation of configurable programmable gateways

5 management across multiple asset classes

6 Superior, dynamic functionality At the heart of Millennium NewClear, beats our patented rule-based complexevent processing engine, BID, giving you rapid, dynamic response to changing market demands without changes to the underlying software. Distributed, task-specific yet co-operative component architecture delivers flexibility coupled with exceptional performance: NewClear can handle large trade volumes, position and settlement netting, and margin computational requirements, while generating updates in real time or periodically all using low-cost, off-the-shelf hardware. NewClear is also ideally set up to exploit the capabilities of new multi-core-processor-based compute servers. Millennium NewClear also offers the following real-world benefits: Application-controlled messaging and data structure definitions for quick, effortless creation of messages and tabular structures. High availability and redundancy thanks to proprietary fault-tolerant technology and within-site or cross-site process replication that allows hot or standby site replication for seamless or measured failover. Partition-based horizontal and vertical scalability. A lightweight front end with efficient bandwidth utilization that ensures smooth, efficient data delivery even during peak update periods.

7 System Performance Key Technical Features Distributed, message-based Software based fault-tolerance User-defined business rules Spatial subscription Partitioning Database: Oracle Operating System: Linux Key Functional Features Trade and External Data Management Trade capture, management, affirmation, give-up, splitting, enrichment and routing OTC trade reporting, matching and confirmation (three models) Receive, compute, normalize and retain external market data price, yield or rate-based User, Account and Position Modelling User-defined participant structures and multi-layered account hierarchies Configurable position creation keys to model trading, clearing, settlement or margin positions Position fungibility including multicurrency conversion Settlement and Reporting Net or real time gross settlement Central counter-party and bilateral clearing, with failure management, buying-in and cash closure cycles Cash or physical settlement of futures including time-bound, staggered deliveries Automatic or manual exercise and assignment of options Generation of claims and contract adjustments due to corporate actions User-configurable reports and fee structures Risk Management Matrix based Portfolio-risk, value-at-risk or discounted-cash-flow-based margining Real time or periodic cash and/or accrued marking to market Back-testing and stress testing, including normalizing and maintenance of historical data Currency-based tiering and matching of collateral Key Operational Features Single GUI to operate and manage system including end-of-day housekeeping Configurable event-and time-based triggers to manage external dependencies Connectivity with: market participants, CSD, payment, trading, accounting and other gateways with ISO 15022, FIX or proprietary APIs. XML or CSV file-based transfers Browser-based, web-enabled front end for all participants

8 Millennium NewClear TM Copyright 2012 MillenniumIT Software (Pvt) Ltd