SimCorp Sofia supports the Treasury and the Back Office by means of a series of functions that guarantee the immediate control of financial flows, the automation of settlement processes and the maintenance of the data reference and market data archives.
The correct maintenance of the Data Reference archives is the fundamental driver for the quality of the outputs successively produced. In order to facilitate the insertion of a considerable amount of data in SimCorp Sofia, various automated import procedures and standard import interfaces, dedicated to the main external providers of data references and prices, are available. These guarantee the maximum standard of efficiency and reduce operating risks in Back Office processes. The export of personalized information flows allows the feeding to the depositary bank systems for the settlement of the transactions on financial markets. The calculation of the fair price of unlisted financial instruments allows the evaluation of the entire portfolio at current values.
SimCorp Sofia modules
Data references and prices from external providers
SimCorp Sofia is equipped with specific modules for the creation and automatic update of the data references and prices, starting from the receipt of the information from the principle external providers. To lead to system integration, it is also possible to realize ad hoc interfaces with the Data References providing systems of the users, by taking advantage of the feeding logics of the standard import interfaces of SimCorp Sofia when the formats of data exchange have been previously adapted. An appropriate transitory archive allows the user to certify, for “sensitive” fields, the incoming specification data when it differs from that already entered in SimCorp Sofia.
Ratings from external providers
Once the agreement of data supply with one or more ratings companies of choice has been underwritten, it is possible to acquire in SimCorp Sofia the updated rating values at a desired frequency. In this way, the information relating to merit of credit attributed to issuers and to single bond issues, can be automatically updated in a timely manner.
The Treasury module allows to export from SimCorp Sofia the data relating to cash flows (effective or provisional) to the company’s treasury system. This is aimed to:
allow a comparison of the transactions contained in SimCorp Sofia from the treasury system
enrich the data contained in the treasury system with the future flows contained in SimCorp Sofia, thus upgrading the capacity of the treasury system to be able to make cash forecasts.
Custodian bank settlement
This module allows to export from SimCorp Sofia all the transactions data to be sent to the custodian bank, thus allowing the custodian bank to compare and validate them.
The Swift messaging system, that consents the transmission of standardized and secure financial messages, allows the user to automatically import and export to/from SimCorp Sofia information concerning, for example, settlement instructions, transaction verification and the reconciliation of securities and current accounts.
Assets and current accounts matching
The matching module allows the user to manage - directly in SimCorp Sofia - the reconciliation of current account movements and the balances of the custodians between SimCorp Sofia and the Bank. The production of a control report can be scheduled downstream the matching's process, or at any time to check the status of transactions.
Transactions import from external managers
SimCorp Sofia is able to communicate with third-party systems via input/output flows or via direct communication protocols. A link can be established through the protocols FTP, MSMQ or internet. SimCorp Sofia can elaborate several types of files, from the more common formats (xls, xlsx, csv, txt, dba) to more atypical ones, with the aim of importing the trading transactions automatically thus avoiding any manual input on behalf of the user.