FC BackOffice DRV is a solution designed by FC Systems to enable a fully automatic accounting of futures and options transactions. It is built upon FC BackOffice FORTS, which has been highly praised by our clients, and now includes new features, including fine tuning options and enhanced integrability.
The very nature of derivatives means futures and options accounting is special in many ways. Simultaneous manual accounting of options and futures transactions is extremely complicated as it requires monitoring the variance margin, open positions, collaterals for guarantees, bonus options, etc.
For an effective internal accounting of futures and options transactions, you will need fully-functional customized software. Our product has been created by top experts in developing and integrating back-office automation solutions for futures and options traders.
Accounting automation solutions may come as plug-in modules for universal back-office software, but these are less functional than a separate program. It is also less cost-effective if you are buying the universal software just for the modules that will help you with futures and options trading.
This is why we have developed a separate program and not a module. Our top priority is your freedom to choose software you might need for other purposes and to integrate our systems with any other applications.
One may go for upgrading existing back-office software or developing customized solutions in-house, but that tends to prove more expensive than buying a ready-made solution. Complex integration and unavoidable programming errors that will be detected once the software is used mean you have to wait longer till you have the needed tool.
FC BackOffice DRV, which has been successfully employed by banks and financial brokers since 2001, allows you to start accounting much sooner, even including the time needed to integrate the program with the software already in use. We are good at tailoring our product to the individual needs of our every client and we promise your employees will have time to attend to other tasks.
The program features a tool for a fully automated import of all FORTS (RTS futures and options) accounting data, even including the characteristics of the traded contracts, from clearing reports in the .dbf format. Using stock-exchange reports, the only official source of information, will provide for an accurate and reliable accounting.
All FC BackOffice DRV users may also monitor transactions carried out using other platforms. Automatic import of data from other sources is possible.
FORTS data are loaded by pressing two buttons. Even on a busy day the import of data on all transactions will only take you a couple of minutes. We do not have a limit for the number of transactions to be processed in a single day as we view your expansion as a factor of our success.
We have also provided for a differentiated user access level, according to the platform’s specific functions, using both software and built-in MS SQL Server tools.
Our platforms’ way of dealing with internal accounting is in full compliance with regulatory requirements. The program saves client orders and registers them. According to the Russian Federal Securities Commission regulation No. 32, subsidiary internal accounting registers are also maintained. It is also possible to compile reconciliation acts, as required by the Federal Financial Markets Service.
All the necessary information is stored in specialized directories that have been substantially revised and upgraded. Any information stored in the directories and registers may be exported to the .xls format and printed.
FC BackOffice DRV FULL can also generate non-commercial entries, including deposit and withdrawal of the variance margin and collaterals for guarantees flow. We have also provided for a custom choice of non-commercial operations types that you would like entries to be created for.
Our platforms also enable you to design your own schemas of transaction fees calculation and to keep a history of each client’s pricing plans. The fees are calculated automatically for each client, according to their individual pricing plans, by pressing one button.
Reports to the clients are generated automatically with Internet Information Server (IIS). Thanks to the open source architecture of the ASP and HTML report form designer, the user can easily modify existing forms and add new ones, with any content or interface.
We have also included the option of saving daily client reports and to mail them to clients by pressing one button.
Our system will automatically create limit files that can later be imported to any of the most popular trading platforms (Quik, NetInvestor, Transaq).
The platform allows you to generate and design accounting entries and to export them to accounting applications. Working with accounting entries has become more comfortable and integration possibilities with accounting software have grown.
Now it has become possible to calculate the book value of the instruments in the portfolio and the tax charged.
A client component installation module has become an integral part of the system. We do not limit the number of copies available for installation because we think it is up to you to install as many copies as you think appropriate to cater for your clients’ needs.
We also provide comprehensive after-sale support, including installation and service throughout the usage period.
Please feel free to ask any questions. We are ready to solve any problems that might arise when operating the platform.
We are also at your disposal for any modification of the FC BackOffice DRV products, as requested by you in a specific task order.