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CUSTODY
Key OEM Experience
Key Clientele Experience
Key Interface
Modules
Static Data Maintenance
Account Maintenance
Settlement
Corporate Actions
Client Reporting
Position Reconciliation
Static Data Maintenance
Static Data Maintenance
• Execution of 45 no of scenarios with 450 no of Test Cases.
• Functionalities covered :
• Manual Creation and Update of Instruments with asset type as Equities , Fixed Income , Rights, Warrants.
• Manual Creation and Update of Security Instruments via Market Data provider with asset type as Equities , Fixed Income , Rights, Warrants.
• Manual Creation and Update of Calendar, Calendar Holidays, Currency , Currency Pairs, Place of Settlement(PSET),Exchange, Ratings.
• Communication Matrix Setup for Counterparties via IFT.
• Manual Creation and Update of Communication Matrix Setup for Counterparties.
• Alerts Verification.
Account Maintenance
Account Maintenance
• Execution of 50 no of scenarios with 500 no of Test Cases.
• Functionalities covered :
• Client Onboarding from T24 for Entities - Individual and Legal.
• Internal Client Entity Creation and Update.
• Portfolio Creation and Mapping with CIF/Counterparties.
• Cash Portfolio Creation and Mapping with CIF.
• Cash Account Creation and Mapping of T24.
• Cash Account Creation and Mapping of Non-CBS Account.
• Creation and Update of Counter Parties such as Broker, Custodian , Bank , Agents, Fund Managers & Issuers .
• Closure of Portfolio and Bank Account.
• Closure of Counterparties such as Broker , Agents and Fund Manager.
• T24 Cash Account Sync.
• CIF Updates from T24.
• Alerts Verification
Settlement
Settlement
• Execution of 110 no of scenarios with 1650 no of Test Cases.
• Functionalities covered :
• Client Instruction Creation via SWIFT(ISO 20022), Portal and IFT.
• Lifecycle of Client Instruction for Multi-listed securities , Multi-Custodian Securities, ISIN and Non –ISIN Based Securities such as CUSIP, Remote Code , SEDOL , Bloomberg code, WKN , National Identifier.
• Notifications to SWIFT based /Non-SWIFT based Client and Custodian.
• Settlement Process for Local & International Market.
• Settlement Processing –SWIFT Based Settlement , Auto Settlement and Manual Settlement.
• Internal Movement between Custodians and Portfolios.
• MT540, MT541 , MT542, MT543, MT544, MT545 , MT546 , MT547 , MT548 Message Creation and Processing based on trade status.
• MT578 - Allegement Creation and Processing.
• Cost Price Adjustment Transactions.
• DSL(11a-FX) , MT380 and FX SI Creation and Processing Using TRAPI/Blotter Rate.
• Alerts Verification.
• Reprocessing of Failed Payment Transactions.
• Custodian Payment – Fund Repatriation.
• Tolerance functionality involving –
Market v/s Broker. SWIFT Based Client.
Broker v/s Client. Non-SWIFT Based Client.
Corporate Actions
Corporate Actions
• Execution of 85 no of scenarios with 1275 no of Test Cases.
• Functionalities covered :
• 72 Events with event type Mandatory , Mandatory with Choice and Voluntary in local and International Market.
• Manual event Creation and update.
• Event creation and Update via SWIFT (ISO 20022).
• Auto event generation for Fixed Income based on security definition.
• MT564, MT568 , MT565, MT566 , MT567 Incoming & Outgoing Processing with Validation.
• Notifications to SWIFT based /Non-SWIFT based Client and Custodian.
• Calculation of Eligible Portfolio based on Record/Ex-Date , Entitlement calculation and update with/without FX.
• Client Instruction Creation and Processing based on ISIN, CUSIP, Remote Code , SEDOL , Bloomberg code, WKN , National Identifier.
• Entitlement and Payment Cancellation before Payment Processing.
• Taxation.
• MT566 Claims.
• Payment Processing with/without FX using TRAPI/Blotter Rate Reference.
• Reprocessing of Failed Payment Transactions.
• Custodian Payment – Fund Repatriation.
• Adjustment Transaction after Payment Processing.
Client Reporting
Client Reporting
• Execution of 14 scenarios with 280 Test Cases.
• Functionalities covered :
• Price Update for Securities via IFT, Manual and Market Data Provider.
• Creation and Processing of Schedulers for Report Generation based on Traded Position/Settled Position.
• FX Prices Update for Restricted/Non-Restricted Currency via IFT, Market Data Provider.
• Following Reports were Covered :
Statement Of Account MT535
Statement of Transaction MT536
Portfolio Analysis MT537
Position Center Realized P&L
Cash Ledger Unrealized P&L
Cash Flow Asset Allocation
Accrued Income Interest Allegement Report
Client Reporting
Position Reconciliation
• Execution of 15 no of scenarios with 150 no of Test Cases.
• Functionalities covered :
• Recon based on Traded OR Settled Position.
• Recon via IFT and SWIFT-MT535(ISO 20022).
• Recon for SWIFT & Non-SWIFT Based custodian.
• Recon for Omnibus & Non-Omnibus Safekeeping Accounts.
• Recon for Multi-Listed & Non-Multi-Listed Security.
Custody End-To-End Scenarios
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Custody End-To-End Scenarios
PRODUCT
•Data fields for securities were not correct.
•Process flow for Matching and Tolerance were not correct.
•Product configuration Issue
•Requirement Gap
•Delayed product delivery
•Delay in execution timelines
•Re-executed product configuration related scenarios
•Reconfiguration done by developer and QK SME helped developer to understand the features and functionality
FUNCTIONAL
•Issue in Reporting
•Issue in Settlement process.
•Issue in Corporate Action.
•Issue in Reconciliation
•Configuration Issue
•Requirement GAP
•Non availability of interface applications
•Delayed in delivery of functionalities.
•Manually created Incoming SWIFT messages for Settlement , CA and Recon.
•QK SME helped developers to understand the product features and functionalities
INTERFACE
•Account Auto Sync issue between T24 and Profile s/w.
•Price fetch from Refinitive and Bloomberg was not taking place on time.
•Auto creation of new security and update of securities were not happening correctly.
•Interface Issue
•Interface and code issues
•Reports were not showing correct and latest balance.
•Manually updated cash in T24 Cash Accounts.
•User had to manually create and update securities.
ENVIRONMENTAL
•Master data and Accounting setup was not configured during the UAT
•Environmental Issue
Configuration issue
•Unable to test few scenarios and not able to test accounting entry which let to retesting of all scenarios
•Efforts is increased for data creation
•Developer was informed and asked to configure the setup.