Release Enhancements

SWIFT 2023 Enhancements for Derivatives, Foreign Exchange, Options and Messaging Modules

As part of the SWIFT 2023 Guidelines, the below changes are introduced:

In an Options contract, the expiration style is made applicable only for plain vanilla option style and not applicable for other option styles
Four additional barrier types such as Up and in Knock in (UIKI), Up and out Knock out (UOKO), Down and in Knock in (DIKI) and Down and out Knock out (DOKO) and its processing are introduced to replace the existing barrier types: Single knock in (SKIN) and Single knock out (SKOT)
Option styles, Digital and No touch behaves in the same way as BINARY option style
Introduced new field/Tag- Barrier Time Type having value as CONT by default
In MT 306 (Foreign Currency Option Confirmation) message the required tag name changes are introduced as per the guidelines
An additional new code Financial Market Infrastructure Act. FMIA is introduced as part of reporting jurisdiction field impacting category 3 messages

ISO20022 Changes – MT103, MT202, MT900 and MT910 for Derivatives, Foreign Exchange, Money Market, Options, Securities, and Securities Repo Modules

The system can now receive the notifications sent by OBPM on MX messages, pacs.008 and pacs.009 (replacement for MT103 and MT202) as per ISO20022 standards. Messages can be processed and viewed in OBTR.
The system now supports Bank to Customer Debit/Credit Notification message generation (camt.054) as per ISO20022 standards for Debit and Credit transactions during online and EOD processing. This ISO20022 message replaces both MT900-confirmation of debit and MT910-confirmation of credit messages

JDK 11 Changes

The system is enhanced to qualify JDK11 features.

External Accounting Performance Changes for all the OBTR Modules

Below changes are done to enhance the performance during External Accounting (EA) processing:

EA processing call to an external system (FCUBS) can be synchronous (Existing) or asynchronous (New)
The asynchronous communication mode of EA processing is achieved by maintaining MDB Queue
Based on the MDB queue maintenance, the system post the request to the respective queue and receives response Asynchronously
Account handoff preference is introduced to maintain Multiple DDAs based on the source system maintenance at account level. Posting of external accounting entries can be done with or without Offset entries
Posted Requests and Responses of External accounting can be viewed from the newly introduced External Accounting Entries Browser screen. Manual retry of failures can be done from this screen

Redwood Adoption

Redwood theme adoption is achieved for the OBTR application.