05 Jun Release 5 June 2024 – Include the accrued distribution for a money market fund in a 100% withdrawal
Include the accrued distribution for a money market fund in a 100% withdrawal
Interest on Money markets accrue on a daily basis and are usually distributed at the end of the month. Where a client do a 100% withdrawal from his/her money market during a month, he/she still receives a distribution for the days during the month where there were holdings in the money market. This result in a distribution amount on the money market where a 100% withdrawal has already been done. This functionality prevent a distribution amount appearing on the money market at the end of the month as the accrued distribution amount will be paid out to the client on a 100% withdrawal from the money market and he/she will not receive a distribution amount at the end of the month. For more information see link.
More changes include:
- Made changes to Net off to allow more than one dealer instruction to be included in the net off process. See link
- Added an option to the ‘Create dealer instructions’ page to select Buys only, Sells only or All
- Added option to System -> Configuration to set the default communication preference under contact details on an entity Contact Details Card, if set the option will default to new entities added. See link
- Added ‘Last review date’ and ‘Next review date’ for risk assessments to the Risk rating report (Entities->Risk rating report)
- Added risk assessment fields to Import – and Export Contract
- Added FATCA fields to Personal/Company details Card->More Actions->Tax Details
- Added a Standard Chartered Bank payment file format
- Added a Standard Chartered Bank statement format
- Added Company registration date, Withholding tax exempt and Reason for tax exemption fields to Import – and Export Contract
- Added bank details to Once Off Withdrawals Import file (Bulk processes->Upload Instructions)
- Moved recurring withdrawals directly selling a model to the default client account view
- Added the changing of contract owners on a contract to historical changes
- Moved Finswitch code from instrument provider to Dealer
- Created functionality to import employers. See link
- Changed units reinvested distribution to payout the distribution, where Distribution option on the contract or instrument account has been set to ‘Payout Distribution’
- Developed a coupon certificate (Gain and Loss certificate) for offshore structured products to report coupons received during a tax year, instead of an interest and dividend certificate. See link
- Created a second level authorisation on withdrawal instruction if amount above XXX. See link
- Added Persons and Companies end point for the Entities API. See link
- No changes to the Export Transaction Data Job (S3). See link
Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.
Last Updated on 3 months ago by otto