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:

• Section 4.1, "Message Generation between FCIS and Vestima+"
• Section 4.2, "Maintenance for Vestima+ Processing"
• Section 4.3, "Entity Media Maintenance Summary"
• Section 4.4, "Messages Processed in Vestima+"

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:

• RedemptionMultipleOrderV03 - setr.004.001.03 (RedOrdr)
• RedemptionMultipleOrderCancellationInstructionV03 - setr.005.001.03 (RedOrdrCxlReq)
• RedemptionMultipleOrderConfirmationV03 - setr.006.001.03 (RedOrdrConf)
• SubscriptionMultipleOrderV03 - setr.010.001.03 (SbcptOrdr)
• SubscriptionMultipleOrderCancellationInstructionV02 - setr.011.001.03 (SbcptOrdrCxlReq)
• SubscriptionMultipleOrderConfirmationV03 - setr.012.001.03 (SbcptOrdrConf)
• OrderInstructionStatusReportV03 - setr.016.001.03 (OrdrInstrStsRpt)
• OrderCancellationStatusReportV03 - setr.017.001.03 (OrdrCxlStsRpt)
• SecuritiesMessageRejection - semt.001.001.03 (SctiesMsgRjctn)

4.2 Maintenance for Vestima+ Processing

This section contains the following topics:

• Section 4.2.1, "Invoking the Entity Media Maintenance Screen"

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:

• Create a new record
• Modify an existing record
• Delete an unauthorized record
• Authorize an unauthorized record

You can enter the following details in this screen:

From Entity ID

Alphanumeric; 12 Characters; Mandatory

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

From Entity Description

Display

The system displays the description for the selected From entity ID.

From Entity Type

Alphanumeric; 1 Character; Mandatory

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

Display

The system displays the description for the selected To entity ID.

To Entity ID

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.

Vest IMA Enabled

Optional

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

4.3 Entity Media Maintenance Summary

This section contains the following topics:

• Section 4.3.1, "Retrieving a Record in Entity Media Maintenance Summary Screen"
• Section 4.3.2, "Editing Entity Media Maintenance Record"
• Section 4.3.3, "Viewing Entity Media Maintenance Record"
• Section 4.3.4, "Deleting Entity Media Maintenance Record"
• Section 4.3.5, "Authorizing Entity Media Maintenance Record"
• Section 4.3.6, "Amending Entity Media Maintenance Record"
• Section 4.3.7, "Authorizing Amended Entity Media Maintenance Record"

4.3.1 Retrieving a Record in Entity Media Maintenance Summary Screen

You can retrieve a previously entered record in the Summary Screen, as follows:

Invoke the ‘Entity Media Maintenance Summary’ screen by typing ‘UTSVEST’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button and specify any or all of the following details in the corresponding details.

 

• The status of the record in the Authorization Status field. If you choose the ‘Blank Space’ option, then all the records are retrieved.
• The status of the record in the Record Status field. If you choose the ‘Blank Space’ option, then all records are retrieved
• To Entity ID
• From Entity Type
• From Entity ID
• To Entity Type
• Vest IMA Enabled

Click ‘Search’ button to view the records. All the records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual record detail from the detail screen by querying in the following manner:

• Press F7
• Input the To Entity ID
• Press F8

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operations by selecting the operation from the Action list. You can also search a record by using a combination of % and alphanumeric value

4.3.2 Editing Entity Media Maintenance Record

You can modify the details of Entity Media Maintenance record that you have already entered into the system, provided it has not subsequently authorized. You can perform this operation as follows:

• Invoke the Entity Media Maintenance Summary screen from the Browser.
• Select the status of the record that you want to retrieve for modification in the Authorization Status field. You can only modify records that are unauthorized. Accordingly, choose the Unauthorized option.
• Specify any or all of the details in the corresponding fields to retrieve the record that is to be modified.
• Click ‘Search’ button. All unauthorized records with the specified details are retrieved and displayed in the lower portion of the screen.
• Double click the record that you want to modify in the list of displayed records. The Entity Media Maintenance Detail screen is displayed.
• Select Unlock Operation from the Action list to modify the record. Modify the necessary information.

Click Save to save your changes. The Entity Media Maintenance Detail screen is closed and the changes made are reflected in the Entity Media Maintenance Summary screen.

4.3.3 Viewing Entity Media Maintenance Record

To view a record that you have previously input, you must retrieve the same in the Entity Media Maintenance Summary screen as follows:

• Invoke the Entity Media Maintenance Summary screen from the Browser.
• Select the status of the record that you want to retrieve for viewing in the Authorization Status field. You can also view all records that are either unauthorized or authorized only, by choosing the unauthorized / Authorized option.
• Specify any or all of the details of the record in the corresponding fields on the screen.
• Click ‘Search’ button. All records with the specified fields are retrieved and displayed in the lower portion of the screen.
• Double click the record that you want to view in the list of displayed records. The Entity Media Maintenance Detail screen is displayed in View mode.

4.3.4 Deleting Entity Media Maintenance Record

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

• Invoke the Entity Media Maintenance Summary screen from the Browser.
• Select the status of the record that you want to retrieve for deletion.
• Specify any or all of the details in the corresponding fields on the screen.
• Click ‘Search’ button. All records with the specified fields are retrieved and displayed in the lower portion of the screen.
• Double click the record that you want to delete in the list of displayed records. The Entity Media Maintenance Detail screen is displayed.
• Select Delete Operation from the Action list. The system prompts you to confirm the deletion and the record is physically deleted from the system database.

4.3.5 Authorizing Entity Media Maintenance Record

• An unauthorized Entity Media Maintenance record must be authorized in the system for it to be processed. To authorize a record:
• Invoke the Entity Media Maintenance Summary screen from the Browser.
• Select the status of the record that you want to retrieve for authorization. Typically, choose the unauthorized option.
• Specify any or all of the details in the corresponding fields on the screen.
• Click ‘Search’ button. All records with the specified details that are pending authorization are retrieved and displayed in the lower portion of the screen.
• Double click the record that you wish to authorize. The Entity Media Maintenance Detail screen is displayed. Select Authorize operation from the Action List.

When a checker authorizes a record, details of validation, if any, that were overridden by the maker of the record during the Save operation are displayed. If any of these overrides results in an error, the checker must reject the record.

4.3.6 Amending Entity Media Maintenance Record

After a Entity Media Maintenance record is authorized, it can be modified using the Unlock operation from the Action List. To make changes to a record after authorization:

• Invoke the Entity Media Maintenance Summary screen from the Browser.
• Select the status of the record that you want to retrieve for authorization. You can only amend authorized records.
• Specify any or all of the details in the corresponding fields on the screen.
• Click ‘Search’ button. All records with the specified details that are pending authorization are retrieved and displayed in the lower portion of the screen.
• Double click the record that you wish to authorize. The Entity Media Maintenance Detail screen is displayed in amendment mode. Select Unlock operation from the Action List to amend the record.
• Amend the necessary information and click on Save to save the changes

4.3.7 Authorizing Amended Entity Media Maintenance Record

An amended Entity Media Maintenance record must be authorized for the amendment to be made effective in the system. The authorization of amended records can be done only from Fund Manager Module and Agency Branch module.

The subsequent process of authorization is the same as that for normal transactions.

4.4 Messages Processed in Vestima+

This section contains the following topics:

• Section 4.4.1, "Events for Message Generation"
• Section 4.4.2, "Creation of New Orders"
• Section 4.4.3, "Cancellation of Existing Orders"
• Section 4.4.4, "Confirmation of Executed Orders"
• Section 4.4.5, "Status Updates "
• Section 4.4.6, "Securities Rejection"

4.4.1 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:

• Creation of new orders
• Cancellation of existing orders
• Confirmation of orders executed
• Status updates
• Securities rejection

The messages are detailed below:

4.4.2 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

4.4.3 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

4.4.4 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

4.4.5 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.

4.4.6 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.