20 years of track record
Solutions for the financial industry
FinIQ offers electronic liquidity for FX cash, FX derivatives, EQ derivatives and structured products via its own network and funds, bonds, shares execution via partner networks.
Investments & Securities Trading platform includes order and execution management, corporate action as well as investment accounting covering bonds, shares, IPOs, mutual funds, hedge funds, insurances, repo, structured deposits and MM.
Derivatives & Structured Products Trading platform helps in pricing, valuation, reverse enquiry, electronic dealing, order management, trade capture, documentation, life cycle analytics and payout of FX and equity linked products.
Electronic Foreign Exchange Trading platform is used to automate mass distribution and dealing of spot, forward, swap, limit orders, NDF, precious metal products with a choice of using either single dealer or multi dealer liquidity.
Retail and Consumer Wealth Management platform includes client onboarding, product catalogue, order management, regulatory compliance, target portfolio, valuation and P/L statement.
Private Wealth Management platform includes multi asset class, multi issuer, multi dealer connectivity as well as wealth planning, click and trade dealing, documentation, post trade accounting, P/L statement and collateral management.
FLOW & TRANCHE
PRODUCTS, BEST EXECUTION, SOLVERS, TERM SHEETS,
NOTIFICATIONS, POST-TRADE DATA
Structured Product Multi-Issuer
The structured products industry largely follows open architecture pricing, where products are priced from a panel of multiple liquidity providers, which may also include distributing bank's own capital markets desk. FinIQ automates a wide variety of structured product payoffs along with a choice of wrappers including notes, OTC, SI, ELI or SD. Powered by a panel of 25 leading banks, it reduces the time taken for price discovery, order placement, execution, document exchange, and post-trade MTM update. Besides achieving the best execution, the operational risks are also greatly reduced, as over 95% of the communication between RMs and dealers, distributing parties, and liquidity providers is all done electronically. The system capability further includes API which can power direct-to-client trading apps.
EXECUTION, NOTIFICATIONS, SALES-TRADER WORKFLOW,
FX Derivatives Multi-Dealer
FX Derivatives quotes are linked to real-time spot prices. In this case, the best execution on behalf of the client becomes very challenging, unless it is done via an electronic platform. FinIQ is a leader in multi-dealer FX derivatives automation, enabling banks to achieve an effective best execution by simultaneously sourcing quotes from a large panel of liquidity-providing banks. The payoffs include vanilla, barrier, digital, strategies, and structures including target redemption, pivot, and accumulator forwards. The system further allows email notifications, booking of trades with accurate barrier and exercise fixing schedules, generation of term sheets, and What-if analysis of the payoff, among many other features. The sales desk margin charged to the client is priced by the FinIQ spread calculation engine. Various pre-trade checks and suitability rules can also be configured to ensure safe user inputs.
INDICATIVE & FIRM
PRICE, SUITABILITY, EXECUTION VIA VENUES, IPO &
SECONDARY, CUSTODIAN LINKS
Bonds Order & Execution
Fixed income securities distribution involves multiple variations, and the actual workflow differs from case to case. Client-provided price quotes are largely indicative, and the order execution is at the dealing desk's discretion. The FinIQ catalog lists thousands of bonds. The user journey starts with the use of FinIQ workbench which comes with a smart search based on a variety of filters, followed by pre-trade compliance and suitability checks. The spread calculation engine suggests the most appropriate spread which can be changed by the user. Orders placed are either executed one by one or in aggregation. Execution can be electronically performed from various venues for FIX connections and APIs, or it can be manually marked. Contract notes, order status monitoring, aggregate positions, IPO allocation, coupon calculations and entitlements, issuer, and other limits, and many such functions are also automated besides pricing and dealing.
& LIMIT, SUITABILITY, EXCHANGES ROUTING,
EXECUTION, BROKERAGE, CUSTODIAN LINKS, CHARTING
Equities Order & Execution
FinIQ's Equities Order Management functionality is suitable for both brokerage and wealth management businesses. The system allows direct execution of cash equities as well as other listed products such as ETF, futures and options, via leading venues. This is implemented using the industry standard protocols including the FIX protocol. Market data, news, corporate reports, announcements, historical charts, and various such valuable contents are available via the same portal. A consolidated view of a client portfolio, holdings, P/L, corporate action entitlements, cashflows, margin, trade history, and order status helps both clients and their advisors in faster decision-making. Orders can be placed one by one or in bulk. Besides the standard FinIQ WebApp, the entire functionality is exposed via FinIQ's mobile apps as well as APIs which then can power the in-house developed apps.
UNIVERSE, NAV, FACT SHEETS, SUITABILITY, ORDER &
ALLOCATION WORKFLOW, CHARGES, CUSTODIAN
Mutual Funds Order & Execution
Mutual Funds or Unit Trust investments automation is based on subscription-based workflow. FinIQ digitalizes the process of client subscriptions via its native UI or UI built using FinIQ API. Various funds are listed in a user-friendly catalog with various searching and filtering options. The fund fact sheet, historical NAV table, and fees & charges are clearly laid out. The order-taking process goes first through suitability and other pre-trade validations. The orders are then routed to the fund house via electronic API-based links. Upon successful allocations, client holdings are updated, and contract notes are generated. Various post-trade functions such as custodian reconciliation, redemptions, corporate actions, transfers, pledging as collateral, and fund switch are also fully automated. Financing of funds can be using all cash or Lombard-based financing. Monthly or periodic plans can be set as standing instructions, and the system automatically generates the orders thereafter.
RFS, SINGLE-DEALER, MULTI-DEALER, CLICK & TRADE,
POST TRADE, SETTLEMENTS
Foreign Exchange Electronic
FinIQ's eFX or Electronic Dealing module is suitable for both internally hedged trades as well as third-party hedged trades. In the internal pricing model, FinIQ uses bank treasury desk-sourced quotes blended with various margins. In the external pricing model, FinIQ FIX-protocol-based multi-dealer liquidity links facilitate pricing and dealing helping the bank with true best execution. The spreading engine allows a combination of over ten different parameters to ascertain the most appropriate sales spread. The range of pre- and post-trade checks including credit limits and cash availability can be configured based on the business segment, user persona, and much more. Post-trade actions such as rollover, rollback, closeout, cancel, amend, and take up as well as internal GL accounting entries and external SWIFT payments are also automated. Instruments supported include spot, forward, swap, forward-forward, NDF, NDS, precious metals, MM, and limit orders. Mobile apps and APIs are provided. FinIQ also provides trade finance and remittance workflow functionality from an FX booking point of view.
QUOTES, TREASURY OR MULTI-DEALER PRICING, CLICK
& TRADE, FIXING EXERCISE, MTM, ROLLOVER
Dual Currency Investments
Dual Currency Investments are extremely popular in the retail and private wealth segments. FinIQ automates sales pricing of these trades with various back-solve targets. Volatility surface can be fed by the options desk or ready-made premium pricing can be sourced from FinIQ's FIX protocol-based multi-dealer liquidity links. MM deposit component is separated by booking independently with the bank's treasury team, where the FX option component can either be retained in-house or hedged externally. The system does indicative and final term sheets, email notifications, mark-to-market, final fixing, exercise delivery, and all the post-trade actions in an equally automated way. Traders can publish indicative pricing grids for reference. Rollovers can be done by simply clicking an expired or exercised trade. Ready-to-mobile apps are provided. APIs are also provided allowing the banks to build their own GUI.
APPLICATION FORM CAPTURE, UNDERWRITER LINK,
POLICY ISSUANCE, RIDERS, SURRENDER VALUE,
Insurance Order & Booking
Insurance policies tend to be very diverse. The FinIQ UCP toolkit allows the modeling of different investment products based on insurance coverage and across multiple underwriters. The entire application process of verification, sending it to an insurance company, receiving feedback, and issuing the policy is all done via an entirely user-configurable workflow. Various add-on riders, policy surrender value, statement generation, and much more are automated besides the main order workflow. All functionality is exposed via API and banks can build their own apps powered by these APIs.
SETUP, FRONT & BACK SOLVE, API/EMAIL/FIX BASED
QUOTE REQUESTS, DOCUMENT EXCHANGE, ORDER
Sellside to Buyside
Structured product issuance is a multi-phase, multi-party workflow. The wrappers can be note, swap, OTC, and deposit format-based. Banks often retain the funding component in-house and only hedge the derivative component with outside parties. Banks and distributors can also source the entire structured product package from outside. FinIQ helps sellside banks to help their distributors with such offerings. FinIQ accepts emails, FIX, and API-based requests for quotes and prices them via the internal pricing infrastructure at the sellside bank. Validations, order execution, document generation, ISIN update, and final trade capture are also fully automated. All of this is done using a completely configurable framework of FinIQ called FinIQ UCP.
FX, FXD, BONDS, EQD & STRUCTURED PRODUCTS, LIVE
QUOTES, BACK-SOLVE, ORDER REQUEST, EXECUTION
Single Issuer Cross-asset ePricer
FinIQ's single issuer ePricer is a hosted WebApp that allows buyside distributors across multiple regions and multiple time zones with the trading of structured products. This involves all major asset classes including equity, forex, rates, and credit-based payoffs. Pricing is instant further enhanced with various back-solve options. Orders can be executed at the same time. Limit orders can also be left for later time execution. The system comes with advisory support which includes popular underlyings, trends of the day, and news and commentary broadcasts. Users can create their personalized portfolios and price them in bulk.
ENRICHMENT & APPROVAL WORKFLOW, DOCUMENTATION,
VALUATION, EVENTS, REDEMPTION & MATURITY
Structured Products Booking
This module allows the capture of trades done in various electronic platforms and also those that are manually dealt with. The system captures economic parameters, event schedules, pricing & regulatory input, client orders, and other details. The input process can be manual UI entry or trade upload or via API trade capture. The system maintains the trade from inception to redemption. It alerts various users on events respective to their functions. It records daily valuation in terms of mark-to-market and sensitivities. Documentation from the product manufacturer and documentation with the end client are all consolidated in one place. Various timestamps and user actions are audited. Accounting entries and payments can also be posted from this module.
PRODUCT SETUP &
CAPTURE, INSTRUMENTS INCLUDING DEPOSITS, FUNDS,
BONDS, SHARES, INSURANCE, CASA & ALTERNATIVE
INVESTMENTS, VALUATION, HOLDINGS &
Retail Investments & Deposits
The retail investments such as bonds, funds, insurance, deposits, notes, shares, and also the loans availed, if any. These investments are booked using the FinIQ Retail Investment Booking module. This module acts as the central repository for various products. Even non-financial assets can also be booked. Such a central trade repository helps with client statements, holdings reports, volume reports, reconciliation, issuer position, custodian position, concentration risk, post-trade events, and various other processes. Trade booking can happen from FinIQ's own order and execution platforms or from other systems. Inputs can be manual or via uploads or APIs.
FOR VARIOUS DERIVATIVES BASED ON FX, IR, CREDIT
UNDERLYING, ENRICHMENT & APPROVAL WORKFLOW,
FX & IR Derivatives Booking
This module captures all FX & IR derivatives trades in a central place. The trades may or may not be booked using the FinIQ order and execution modules. The centralization of all trade helps in various ways. It allows internal compliance and regulatory reporting to be easy. Management reports, counterparty concentration, middle office events, back-office settlements, and accounting become very convenient. Valuation including mark-to-market and sensitivities is captured on a daily or even intra-day basis. Reconciliation with various upstream and downstream systems is done in a controlled way. All timestamps and audit trails are captured and reported. Even general ledger postings and payments can be generated from here. Margin calculations for various client positions can be computed including subsequent margin call workflows.
NON-VOLUNTARY, FOR SHARES, BONDS & FUNDS, SWIFT,
NOTIFICATION, RESPONSES, CALCULATIONS,
ADJUSTMENTS, & ACCOUNTING ENTRIES
Custodian & Corporate Actions
The custodian & corporate actions module handles various post-trade settlements including share delivery, cash delivery, and corporate actions associated with shares, funds, and bonds. It further automates all important reconciliation activities with the custodians. Incoming corporate action announcements, notifications to clients, client response collection, and subsequent entitlement processing are done via a controlled workflow. Securities once bought or sold on the settlement date, the system orchestrates various events ensuring an error-free delivery along with the internal and external entries associated with it. The system also lists all past events and the client holdings and trades associated with each event. Also, there is a summary vs details analysis tool to match the sum of individual entitlements with the overall entitlement.
NON-FINANCIAL COLLATERALS, LOANS & DERIVATIVES
EXPOSURES, LTV & MARGIN RATIOS, VALUATION,
MARGIN CALL WORKFLOW
Collateral & Margin
FinIQ's credit functionality is suitable for multiple business segments including private wealth, treasury, interbank, and corporate businesses of various types of financial institutions. It contains both limit-based and collateral-based credit control. Under limits, it is transaction volume limits or daily settlement limits. Under collateral, it can be financial assets such as deposits, bonds, funds, stocks, or even non-financial assets. On the exposure side, it caters to various types of loan or loan-like facilities or even OTC derivatives-based exposures including those for FX options, IR swaps, and much more. The assets are pledged and unpledged via configured workflows. Margin calls and reminders are also workflow-based. The system allows the provision of pledging an entire portfolio with portfolio-level loan-to-value ratio or individual-level assets are given their specific LTV ratios. LTVs can be changed to suit specific situations. Initial margin, maintenance margin, and close-out margin levels are tracked for every combination of collateral and exposure.
MODELLING, MARKET DATA, FIXING PROCESS, PAYOUT &
REDEMPTION DETERMINATION, INTERIM COMPUTATION,
NOTIFICATIONS & SETTLEMENTS
Structured Products Lifecycle & Payouts
FinIQ's structured products module takes care of lifecycle events for all commonly traded wrappers including notes, OTC, and deposit or investment wrappers. The system models the lifecycle path of each trade using a configurable scripting language known as FinSPL, which can be altered by the end-users if necessary. New payoffs can also be defined using this language. Making use of the market data for closing and intra-day prices, the rule engine computes the state of coupons, redemptions, and other cashflows. There can also be events that do not have any cashflow impact and they are needed to capture the interim change in the state of the product. Examples of this are knock-in, accruals, corporate action impact, distances to barriers, mark-to-market valuation, memory checks, and sensitivities. Interim results as well as final results are shown on an interactive dashboard with a range of user-friendly filters. The users can be relationship managers, sales deals, structures, operations teams, or even traders. FinIQ also connects electronically with the issuers and counterparties to source the actual life cycle results as evaluated by these parties in a formal calculation agent capacity.
TEMPLATE DESIGN &
MAPPING, PRE/AT/POST TRADE EVENTS, SIMPLE & RICH
DATA, IN & OUT EXCHANGE, WORKFLOW FOR
FinIQ's documentation functionality is suitable for both manufacturers as well as distributors. FinIQ Docgen is a toolkit that allows the definition of document templates with data and condition tags and produces Word, HTML, PDF, and even email-based outputs. The system also processes incoming documents, enriches them with extra data, and then forwards them. The entire orchestration is done using a workflow tool, which is built in. The setup of tags, user roles, and templates is all controlled by maker-checker and audit trail functionality. Events for document generation can be pre-trade or post-trade. It can be linked to quotes, orders, trades, settlements, corporate actions, margin calls, statements, and much more. All documents generated are version-marked and saved in the database or any safe folder. Simulation tables, charts and graphs, special headers and footers, multi-lingual wordings, logos, and many such non-text content can also be delivered via the FinIQ Docgen module.
CORPORATE ACTION IMPACT, TRANSFER IN & OUT,
STATEMENT, P&L, RISK ANALYTICS, CONSTRAINTS,
FinIQ's Portfolio management empowers investment advisors, portfolio managers, and relationship managers with investment decision support. The end-to-end process first starts with the client onboarding, mandate details capture, risk profile assessment, and product appropriateness check and then transitions into the portfolio proposal-making process. A proposal can be constructed from a set of pre-configured target portfolios, or it can also be a custom-made portfolio, which is tailored to a specific situation. One client may have multiple actual portfolios. Various trades booked either using the FinIQ order management modules or booked via any other system flow into the FinIQ portfolio module. Holdings captured from such upstream order management source systems and also those via transfers and corporate actions settlements make the composition of the actual portfolio. The client portfolio is periodically compared with the target portfolio resulting in rebalancing recommendations. These recommendations are then routed to various trading venues using either FinIQ order management modules or any other platform. P/L, risk ratios, cash flow, positions, concentration, and various such measures are regularly computed using the latest market data. Results are accessible using an interactive dashboard, client statements as well as using standard and customized reports.
DATA INCLUDING SPOT, SWAP, YIELD CURVE,
CORRELATION & VOLATILITY SURFACE, CLOSED FORM &
SIMULATION MODELS, GREEKS, BACK-SOLVE
Derivatives Pricing Models
FinIQ's pricing library is a collection of mathematical formulae and algorithms, which are exposed in the form of standard APIs. FinIQ pricing engine computes reference pricing for relationship managers, which then can be used for actual trade booking or solely used for indicative pricing purposes. The raw market data includes FX spot and swap rates, MM rates, IRS rates, volatility surface, bond prices, correlation, equity prices, etc. This data can be refreshed in real-time or periodically. The model choices include closed-formed equations such as Black-Scholes and Vanna-Volga models, or even stochastic volatility models. The yield curve and volatility surface constructions are done using a mix of instruments and with a choice of interpolation method. Back-solve functionality comes built in which allows the client to target premium or upfront commission as the input to solve various strike or barrier levels.
The system also computes Greeks including Delta, Vega, Gamma, and others. The schedule generation is based on market norms and based on published holiday calendars. The system also offers pre-trade what-ifs, mid-life what-ifs, stress tests, back-tests, and multiple such risk assessment tools. FinIQ's proprietary scripting language FinSPL makes it extremely easy to define any new structure with minimal effort.
RISK PROFILE, PORTFOLIO & FINANCIAL PLANNING,
CONSTRAINTS & TARGETS, CALL LOGS, P&L, RISK
ADVISOR, PROPOSAL WORKFLOW, EVENTS CALENDARS,
FinIQ's Client Advisory module has client-centric functionality, unlike most other FinIQ modules which are mainly product-centric. Here the client's status, profile, identity, declaration, contact, KYC, correspondence as well as the investment holdings, RFQs, orders, trades, income, returns, fees, documentation, and corporate action announcements are all accessible in one place. It further comes with drill-downs, which can take the user to various product functions. The client relationship here is measured in terms of volume, sales commission, number of trades, hit ratio, AUM pledged, actual AUM, etc. which improves the decision-making ability of the sales team. The client's cash balances, collateral availability, and purchasing power are also available in the same module. The system access can be given directly to the client but with limited visibility. Recommendations, proposals, market analyses, tips, alerts, news, charts, reports, and various other non-trading content can be delivered from here. Clients accessing this module can be diverse. It can be retail clients, private wealth clients, or even external asset managers or financial institutions. Each segment can have its own look and feel and user access profile.