4. VESTIMA+ Processing

Vestima+ is an automated external system that facilitates the routing and execution of fund orders between Oracle FLEXCUBE Investor Services and outside parties. These orders can be placed either through the Vestima+ web browser or SWIFT. The party placing the fund order is the Order Issuer (OI) and the party executing the orders is the Order Handling Agent (OHA).

This chapter contains the following sections:

4.1 Message Generation between FCIS and Vestima+

The fund order, which can be a subscription, redemption or switch transaction, is initiated by the OI and sent to Vestima+. Based on the data available within the Vestima+ system, the order is enriched and passed to the appropriate OHA. If the OHA sends an optional status message to indicate the receipt of the order to Vestima+, it will be forwarded by Vestima+ to the OI. After the OHA executes the order, it sends a confirmation message (depending on the type of order) to Vestima+ which is enriched and passed on to the OI.

The following diagram illustrates the flow of messages between FCIS and Vestima+

The ISO 20022 messages that are supported by the Vestima+ system are:

4.2 Maintenance for Vestima+ Processing

This section contains the following topics:

4.2.1 Invoking the Entity Media Maintenance Screen

You are required to link entities eligible to send and receive messages to each other through Vestima+. You can do this in the ‘Entity Media Maintenance’ screen. To invoke this screen, type ‘UTDVEST’ in the field at the top right corner of the Application tool bar and click the adjoining arrow button.

You can perform the following operations in this screen:

You can enter the following details in this screen:

From Entity Type

Alphanumeric; Mandatory

Specify the entity type for the entity that will send fund orders for execution. You can also select the entity type from the adjoining option list. The list contains all the valid entity types maintained in the system.

From Entity

Alphanumeric; Mandatory

Specify the entity ID. You can also select the required ID from the adjoining option list. The list contains all the valid entity IDs maintained in the system.

To Entity Type

Alphanumeric; Mandatory

Specify the entity type which will receive and execute orders.You can also select the entity type from the adjoining option list. The list contains all the valid entity types maintained in the system.

To Entity

Alphanumeric; Mandatory

Specify the entity ID. You can also select the required ID from the adjoining option list. The list contains all the valid entity IDs maintained in the system.

Vestima Enabled

Optional

Check this option to indicate that Vestima processing is supported for transactions between the ‘From Entity’ and ‘To Entity’ mapped above.

4.3 Messages Processed in Vestima+

This section contains the following topics:

4.3.1 Events for Message Generation

Various messages are sent through Vestima+ while processing an order. Typically the messages sent by OIs to Vestima+ are forwarded by Vestima+ to the appropriate OHAs. Similarly, messages received by Vestima+ from the OHAs are forwarded by Vestima+ to the OIs.

The different events for which messages are generated are:

The messages are detailed below:

4.3.2 Creation of New Orders

The following messages are used by the OIs for creation of new orders. These are sent to Vestima+ and in turn, Vestima+ forwards these to the appropriate OHAs through SWIFT.

Message

Message Name

Purpose

FCIS Code

RedOrdr

setr.004.001.03 RedemptionMul­tipleOrderV03

New Redemp­tion Order

RMO

SbcptOrdr

setr.010.001.03 SubscriptionMul­tipleOrderV03

New Sub­scription Order

SMO

SwtchOrdr

setr.013.001.03 SwitchOrderV03

New Switch Order

SWC

4.3.3 Cancellation of Existing Orders

The following messages are used by the OIs for to request cancellation of orders previously issued. These are sent to Vestima+ and in turn, Vestima+ forwards these to the appropriate OHAs through SWIFT.

Message

Message Name

Purpose

FCIS Code

RedOrdrCxlReq

Setr.005.001.03 RedemptionMultipleOrderCan­cellationInstructionV03

Cancella­tion of a Redemp­tion Order

RMC

SbcptOrdrCxl­Req

Setr.011.001.03 SubscriptionMultipleOrderCan­cellationInstructionV03

Cancella­tion of Subscrip­tion Order

SMC

SwtchOrdrCxl­Req

setr.014.001.03 SwitchOrderCancellationRe­questV03

Cancella­tion of Switch Order

SCA

4.3.4 Confirmation of Executed Orders

The following messages are sent by OHAs to Vestima+ to confirm the orders received. These are forwarded by Vestima+ to the OIs.

Message

Message Name

Purpose

FCIS Code

RedOrdrConf

setr.006.001.03 RedemptionMultipleOr­derConfirmationV03

Confirmation of Redemp­tion Order

RCO

Sbcp­tOrdrConf

setr.012.001.03 SubscriptionMultipleOr­derConfirmationV03

Confirmation of Subscrip­tion Order

SCO

Swt­chOrdrConf

setr.015.001.03 SwitchOrderConfirma­tionV03

Confirmation of Switch Order

SCM

4.3.5 Status Updates

Status messages are used by Vestima+ as a means of validating the inbound message process and to provide the status of an order or cancellation order.

Message

Message Name

Purpose

FCIS Code

OrdrInstrSts­Rpt

setr.016.001.03 OrderInstruction­StatusReportV03

Order Instruc­tion Status Report

OIS

OrdrCxlSts­Rpt

setr.017.001.03 OrderCancella­tionStatusReportV03

Order Cancel­lation Status Report

OCS

Note

The status message is optional in case of positive validations for the inbound message.

4.3.6 Securities Rejection

If no action is possible on a message received by Vestima+, for instance if the originator of the message is unknown or a reference not recognized by Vestima+ has been received in the message, then Vestima+ issues the semt.001.001.03 SecuritiesMessageRejectionV03 which is the Securities Rejection message.