Fixed Income Resiliency: impact
As part of our existing fixed income resiliency effort, analysis is underway to enable users to systematically upload a spreadsheet to bulk create bilateral and triparty financing trades in impact. The immediate benefit here is client operations can continue to process the firm’s transaction activity, even in case of an emergency outage between the front-end system and impact. This will allow clients to mitigate potential daylight overdraft costs and avoid unnecessary fails. To see how you can immediately improve your firm’s resiliency, please reach out to your Broadridge Account Manager.
Negative Coupon Rates
Although interest rates are rising, and there has been no indication from the Federal Reserve that bonds will be issued with negative coupon rates, the Broadridge fixed income team is prepared to act in case rates do go negative: Broadridge is continuing to perform high-level analysis and document the necessary requirements for our infrastructure to support a negative-coupon security. The development effort is sizable and, if necessary, we will convene a working group to help drive this across Broadridge and across our client base.
impact Dashboard Modernization
Modern problems require modern solutions, and Broadridge’s Fixed Income team is committed to enriching existing screens and commands our users utilize every day. Our plans to overhaul the impact GUI are underway, and this overhaul will deliver quality of life improvements that will facilitate transaction retrieval and upload repair processes in impact. Here is what we plan to deliver in the near future:
- Expansion of viewable outright trades on the new Transaction Dashboard (TGDB)
- Ability to select and edit existing trades or book new transactions from the TGDB grid
- Historical transaction group retrieval to view archived trades
Analysis is underway to improve upon transaction upload repair capabilities: these improvements will permit users to select trade exceptions and open a display widget that highlights necessary revisions by operations before a record is successfully reprocessed. If Broadridge production support is required for analysis, a unique error locator ID will be linked to the exception; this will greatly improve our support team’s ability to troubleshoot and identify the issue. The Fixed Income Product team will keep clients informed with regard to this functionality as we continue to improve our solutions.
