Highlights of Martini Release 5.4

Martini Version 5.4 will be released in October 2006. Highlights of Martini 5.4 include:

Trade Entry

• The prices fields have been changed to allow entry of prices as fractions using the hyphen key. Fractions can also be entered.
• The ability to select a global counterparty depot has been added. There is a site configuration option to set the name of the depot and a task (AllowGlobalCorpActCpyDepot) that when enabled will show the global depot in the list of counterparty depots. This global counterparty depot can be used to ensure instructions are not sent. For example, when corporate actions occur.

Trade Maintenance

• A site configuration option has been added to enable reprices on start date to be interlife actions rather than corrections. This is for Gentan trade types where a reprice confirmation is mandatory in the Japanese market.
• Use Initial Price has been added as an option on the Return dialogue box.
• Use Market Price has been added to the Mass Reprice action to allow trades to be booked to the current market price and committed in one go. Mass Reprices are available across multiple securities to reprice to the current market price.
• The ability to change the end date when repricing a trade has been added.
• Suppress Instructions and Irregular Settlement tick boxes have been added to Rate, Fee, Spread, Dividend and Price Change dialogue boxes.
• A task has been added to enable the End Date field when performing a reprice.
• The task ‘CheckShortPosition’ has been enhanced to check and warn the user when closing an open trade that the position will go short.
• A trade utility has been added to allow stock splits to be entered for equity securities.

Contracts
The Recall Notice field has been added to the Contract Editor and is shown in the Contract Browser.

• The ability to view and allocate collateral across different legal entities has been added.
• Haircuts/margins can be entered at the individual allocation level.
  

Browsers
Funding Sheet

• A view option has been added to the Funding Sheet to enable different summary views to be selected. Views available are Rating, Country, Profile and Security Type.
• A tri-party agent filter has been added that lists all the tri-party agents that have been set up in the system to allow filtering by agent
• An agent allocation editor can be selected which provides an efficient way of moving collateral from the primary custodian to the various tri-party agents.

Trades

• Current Settled Cash has been added as a column to show the settled cash today for the trade.

Trade Analytics

• When the Contra option is selected on the Trade Analytics browser, contra-account trades will be shown twice to indicate the different directions of the trade.
• An Interest To Date column has been added to show the current interest on the trade.
• A Market Value of Trades column has been added.

Cash Management

• Additional views ‘Cash Account with Totals’ and Settlement.

Tools
Net Payment

• A new browser has been added to show all the net payment trades that have been booked and the associated trade movements that they represent. It will also show any outstanding cash that needs to be paid for that day.

Marks

• The ability to do a back dated mark has been enabled on the Marks tool.
• The ability to mark all counterparties/currencies at once.

Inter-Entity Flattener

• To support the Japanese market where inter-entity transfers are not allowed to be performed within three days of a security maturing or a coupon being paid, profiles can be set up to exclude these securities.

External Availability

• The task ‘UseAllEntityClientPosition' has been added to allow the user to view external availability across all legal entities.
• Additional columns have been added to show the price data of the security. The columns are shown when the Trades option is ticked.
• View option for a summary view of external availability by either Security or Counterparty.
• New Tick boxes: Market Value tick box and Open Borrow tick box.

Interface Error

• A new browser has been added to allow the user to view any failed activity that was received from an external system or interface. It also shows replies to Martini instructions that have failed to be added to the External System.  As the static data or trades are added, the Interface Error processor will be able to reprocess the instructions.

Legal
Hong Kong Registration
A change has been made to the Hong Kong Addendum due to a change in legislation. A ‘HK Registration’ field has been added to the Matter Editor to hold the registration id.

Static Data
Security Editor

• The security editor shows the existing rating values in the drop down lists to make it easier to pick the correct values.
• A change to the calculation methodology of Swedish Bonds that are within one year of maturity. If the bond has 1 year or less to maturity, use the simple methodology:
  Cash Flow / (1 + Interest Rate * days to Cash Flow / 360)
• A task has been added to allow the editing of Corporate Action data only.
• A new adjustment type has been added to the Coupon tab called ‘No Adjust Payment’. This will not adjust the coupon payment date for weekends or holidays as required in the Russian market.
• A Multiple Prices tab has been added in order to store prices from different sources.
• Two additional fields have been added to the General tab to hold index details. The Primary Index field holds the index the security is quoted on while the Secondary Index can contain multiple indices where the security is also quoted.
• Additional fields have been added to the Detail tab to help Risk departments limit exposure to a particular security.
• Additional rating information has been added for security on the Detail tab. The Outlook for a security provided by the ratings agencies can be selected. Fitch rating fields have also been added along with the Moody and S&P ratings.

Tri-party Agents

• An External ID field has been added to the Tri-party Agent Editor to store the external system reference of the agent, and a new tab has been added to the Editor to hold the agent fees.

Counterparty Editor

• Additional counterparty depot and nostro fields that are required for confirmations have been added to the counterparty Default Depot and Nostro tabs.
• A new delivery type of Moneyfill Allocation has been added to the Confirm Details tab to enable moneyfill confirmation processes to use these details.
• An additional field has been added to the Counterparty tab to specify whether the counterparty is a tri-party agent.

Default Firm Instructions

• An additional criteria of 'Settle System' has been added to the Default Firm Instructions Editor to enable defaulting of depots by settlement system.

Technical
New Platforms Supported

• Martini now requires SourcePro Edition 9 update 1. The supported platforms for Martini 5.4 have changed. The following operating systems and Oracle database versions are supported in 5.4:

Martini Client
Windows 2000/XP/2003

Martini Server
Windows 2000/XP/2003
Solaris 10
RedHat Linux AS/ES 3

Database Client
Oracle 9.2.0.7 32-bit (Windows only)
Oracle 10.2.0.1 32-bit (Windows, Linux only) Oracle 10.2.0.1 64-bit (Solaris only)

Database Server
Oracle 9.2.0.7 (32-bit or 64-bit)
Oracle 10.2.0.1 (32-bit or 64-bit)

Compiler
Visual Studio 2003
Sun Studio 11
Linux gcc 3.2.3

• The key change for clients moving from Martini 5.3 to 5.4 is on the Solaris platform where Martini is now 64-bit and will only run on Solaris 10 with the Oracle 10.2.0.1 client. Toolkit programs on Solaris will now need to be compiled using the Sun Studio 11 64-bit compiler.