Microgen Cortex is a software system designed for companies trading commodity products, with particular focus on the London Metal Exchange (LME). It is a back-office system that is used to record and process commodity derivative trades.
Microgen Cortex enables rapid and detailed trade entry, amendment and cancellation. It interfaces to the LME’s own systems (through Microgen's Fix Engine) to enable seamless trade matching and trade clearing, and to the London Clearing House (LCH) for intra-day and end-of-day price and data feeds.
The system reduces operational risk by allowing users to monitor real-time trade positions as well as reporting unmatched trades and providing exception management reports.
To ensure that both in-house and client funds are controlled effectively, Microgen Cortex contains full accounting functionality, including a double entry, multi company and multi-currency general ledger.
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Microgen Cortex manages trades throughout their full life-cycle, and its additional features include:
- Interfaces with front office trading systems to allow straight through processing
- Ability to create SELECT trades (including associated registrations) within the Microgen Cortex data base directly from LMEselect system trades matched in the LMEsmart system.
- Downstream feeds of trading, pricing and static data to clients’ own systems
- Comprehensive commission and fees facilities, including LCH Fee reconciliation
- Production of client documentation including confirmations, contracts, invoices and statements
- Full warrant handling, including upload and download interfaces to LMEsword
- Comprehensive averaging facilities to handle Average Price Contracts and TAPOS
- Comprehensive Foreign Exchange and FX cover facilities for metal-in-currency trading
- Comprehensive Management statistics and Reporting
- Regulatory reporting, including LME DPRS and Open Interest
- Reconciliations to upstream and downstream systems e.g. LMEsmart, LCH margins and positions