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SmartCo IBOR

IBOR provides a single source of positions, which is complete, consistent, robust and monitored. Updated in real time, it provides different views for multiple purposes (front-office oriented views, risk / reporting, back-office reconciliation views, etc.).

As an answer for buy-side organizations’ increasing need to provide their portfolio managers with a comprehensive, consistent, real-time, independent view of their positions, SmartCo provides an Investment Book of Record (IBOR) offering.

The SmartCo IBOR is designed to store and process all position impacting events occurring across the organization’s systems, including portfolio and order management systems, as well as accounting systems and transfer agencies. The resulting positions can be viewed in SmartCo’s GUI and/or distributed in real-time across consuming systems, allowing front office and other teams (risk, compliance, performance measurement), to all work on the same source of always up-to-date positions.
SmartCo’s IBOR solution consists in the following modules :

Trade support

Among the range of systems from which trade information is received, not all will provide the same level of details (e.g. some may only provide amounts in security currency, while others might only provide the clean price). The Trade Computation module is here to fill the gaps, computing all necessary amounts for a broad spectrum of asset classes. Among others, it computes gross amount, accrued interest, taxes and fees (based on an advanced fee scale set up). All amounts are computed at security, portfolio and settlement currencies.

Positions Keeping

The heart of the IBOR is the position keeping engine, which processes trades and other events (e.g. TA cash, expenses) to compute a real-time position. Due to its unique way of modelling positions, the SmartCo position keeping module maintains a consistent repository of past, present and future (forecasted) positions, at trade date (investor view) and/or at settlement date. Advanced features, such as applying back-dated trades and computing the impact on all subsequent positions, are natively supported. Alongside with the positions, SmartCo’s position keeping module also maintains a consistent book of cost, supporting several inventory management methods, such as FIFO, LIFO, or Weighted Average Cost.

Positions Valuation

SmartCo’s valuation engine provides a flexible way of valuating and organizing position information. Not all consumers need the same information : some might need to see the latest closing prices, others the last price ; some may need to look at a fund share position as a single line, while others may want to drill down to the fund share’s positions. Our valuation engine is able to cater for all these needs and for more, using the concept of “valuation styles”. That way the IBOR can be the single go-to place for positions, while distributing them in a variety of different ways.

Corporate actions (applying CAs on holdings)

SmartCo Data Hub provides a dedicated module to apply the corporate actions on holdings. The application of corporate actions creates trades that will be processed by the holding service in order to impact the holdings in real-time.

It is worth mentioning that SmartCo’s IBOR solution relies on the proven SmartPlanet technology platform, and therefore benefits from its extensive feature set, including connectivity, data quality control, multi-sourcing, scheduler, business rules engine, data model flexibility and UI generation capabilities.

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