Chess-T has been developed to meet the requirements of front and back offices regarding money market, FX spot, forward and swap transactions. By the Straight Through Processing (STP) , the entire trade process for deals can be conducted without the need for manual intervention. Chess-T has a capability for capturing deals from various trading platforms by generating automatic payment messages , expectation and accounting records. Detailed counterparty limit risk monitoring and various kinds of legal and other reports are also provided by the treasury module.

DEAL MANAGEMENT

 

Deal Capture

  • Integration possibility with Global Dealing Systems (ex: Reuters)

    • Deals

    • Conversations

  • Format Validation

  • Data Validation

 

Manuel Entry

  • Easy-to-use screens

  • Minimum Data Entry

  • One-click hedging deal creation for forward deals

 

Instruments

  • Money Market

  • FX

    • Spot

    • Forward

    • Currency Swap

  • Fixed Income

    • Buy/Sell

    • Repos

 

Transaction Types

  • Between Departments (MM,FX)

  • Book To Book (FX)

  • Position Transactions (all)

  • Between Departments (MM,FX)
    Counterparty = Bank ( Both SSI are external )

  • For FI transactions both ISE and OTC markets are supported

  • Customer Transactions (all)
    Counterparty = Customer ( Both SSI are external )

 

Deal Amendment & Cancellation

  • Dealer can amend or cancel a deal at any time

  • System generates the amendment confirmation messages or cancellation confirmation messages automatically

  • If the payment leg and/or receipt leg has not been completed their process yet, system cancels the related payment message and/or expectation record

  • Reversal of accountings are generated after the back office approval

 

Dealer Reports

  • Blotter

  • Trade History

 

Back Office Reports

  • Reconciliation Reports

  • Counterparty Limits

  • Tracking Screen

  • Deal Reporting

 

CONFIRMATION

 

MT300* for FX transactions, MT320** for MM transactions are generated automatically

 

The rules of matching an incoming confirmation message with a created message can be defined by the users

 

Matching Types

  • Auto Match

  • Partial Match

  • Manuel Match

  • One – Sided Match

 

SETTLEMENT

 

Netting

  • System determines which transactions should be netted based on SS

  • Users have the possibility to remove transactions from netting queue

  • Users have the possibility to add transactions to the netting queue

 

PAYMENT

 

  • Payments are created after;

    • Back Office Approval

    • Limit Availability

    • Confirmation Matching

  • Payment messages are created automatically

    • EFT Messages for TL transactions

    • SWIFT Messages for FX transactions

    • Cover SWIFT Messages for ALL transactions

  • SSI Management

  • The message type that should be generated can be customized for each SSI

 

Product Advantages

  • STP. From Deal capture, to settlement and accounting

  • Parametrical design

  • Powerful interfacing. Broad range of ready adapters.

  • Accounting rules, parametrical definition

  • Automatic creation of expectation messages

  • Automatic creation and routing of Swift/EFT messages, payments and confirmation

  • New technology

  • User, role based security. Four eyes principles.

  • Netting functionality