| Major
Features:
- Capable
to handle any kind of trade such as: Purchasing, Selling,
Deposits, Withdrawal, Bonuses.
- Handles
Fixed Deposits and other investments.
- Prior
to executing a purchase, the cash position of the portfolio
is checked.
- Upon
exercising a purchase trade, the following takes place immediately:
- The
average cost is affected
-
The portfolio's security holding is updated
-
The selected bank account is affected
- Prior
to executing a sale, the portfolio's security holding is
checked. Upon exercising a sale trade, the following takes
place immediately:
- The
profit/loss account is affected
-
The portfolio's security holding is updated
-
The selected bank account is affected
- For
local trades, the coupon details are entered and the system
automatically generates the commissions and charges.
- Trades
are given unique numbers which are generated by the system.
These numbers are used to identify each trade individually.
- The
local Securities module performs all the related back office
operations, as stipulated by the Kuwait Stock Exchange and
the Kuwait Clearing Company.
- The
holdings of all portfolios are affected at trade date, while
the value date is used for settlement reconciliation and
reporting. From the accounting aspect, a trade will automatically
affect the ledger and the available balances accordingly.
- Calculation
of interest for interest-bearing accounts, be it the company's
or clients' taking into consideration the value date, the
applicable interest rates, and whether the interest is credit
or debit.
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