TrustQuay 5Series provides a standard set of transaction types which cover the regular activities associated with fund processing including subscriptions, redemptions, switches, transfers, exchanges, conversions, transfers from other schemes etc. 5Series also enables bespoke transaction types to be created to fit individual requirements.
Simple to use input screens capture all the required information plus additional items to assist with marketing and communication such as referrals and adverts.
Standing instructions can also be created for any type of transaction that is typically used for regular savings plans or planned withdrawals. These can be for individual funds or for more complex structures such as umbrella funds.
The trend towards electronic capture and transfer of transactions to increase automation and reduce risk is reflected in the open architecture of 5Series which allows the importing of deals and integrates with industry message standards e.g. EMX and Calastone.
Investors can also enter transactions online, if required, which are then authorised by administration staff, helping to increase STP, whilst maintaining full control.
Support for the following is provided:
- Initial dealing fees, exit fees, switch fees, transfer administration fees
- Dealing and trailer commissions for Introducers/IFAs/IFA Networks
- Dilution levies
- Advices for custodians of movements in fund units/shares – either on paper or electronically
- Managers box
- Distributions processing on an amount per share basis
- Commission rebates
- Payments processing for dividends, redemptions and commissions via cheque or electronic funds transfer e.g. BACS
- Client output for contract notes and detailed client statements