Release Enhancements

Regulatory Enhancements

As part of SWIFT 2023 Guidelines, the below changes are introduced:
- In an Option contract, Expiration style is made applicable only for the Plain Vanilla Option style and does not applicable for other option styles.
- Four additional barrier types, 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 replacing the existing barrier types Single knock in(SKIN) and Single knock out (SKOT).
- Option styles, Digital and No touch behave similarly to the Binary option style.
- A new field/Tag- Barrier Time Type is introduced with a default value as CONT.
- Settlement of currency option contracts occur at Hit or Maturity considering the Payment Lag Days.
- Rebate settlement to consider the rebate payment days for deriving the final settlement date.
- Holiday preference is supported for the Exercise Pay date and Rebate pay date.
- An additional new code “Financial Market Infrastructure Act (FMIA)” is introduced as part of reporting jurisdiction field, impacting category 3 messages.
- MT306 message is enhanced as below.
  - tag name changes are introduced as per the guidelines.
  - new tag 17C for Barrier Event Equal Modifier,
  - new tag 33Z for populating Rebate Amount
  - tag 30a(30F/30J) is populated with Rebate Amount Payment Date

Product Enhancements

Accounting Enhancements
1. External Accounting (EA)
  - EA processing call to an external system (FCUBS) can be synchronous (Existing) or asynchronous (New).
  - Asynchronous Communication mode of EA processing is achieved by maintaining MDB Queue. Based on the MDB queue maintenance, system post the request to the respective queue and receives a 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 based on the source system maintenance.
  - Requests and Responses of External Accounting posted can be viewed from the newly introduced External Accounting Entries Browser screen. Also, Manual Retry of Failures can be done from this screen.
2. External Credit Approval ( ECA)
  - System is enhanced to send External Credit Approval request to DDA synchronously on save of the contract based on the configured OBTR_ECA_ONLINE parameter. If the available is insufficient for a transaction on the overdraft account, system considers the overdraft limit maintained for that customer and allows the transaction if the transaction amount is within the maintained limit.
  - Support for External Credit Approval check is provided during the save of reversal operation. In case of insufficient balance in the settlement account, system displays the ECA error message.
Entity Length changes
- The length of the below mentioned entities are increased and standardized.
- Branch Code
- User ID
- Customer Number
- Customer Name
- Account Number
- Account Description
- GL Code
- Entity Code
Service Enhancements
- Web service is supported for FX linkage screen for querying the linked data
- Support for REST service is made available for Instrument creation screen
Rollover changes for RFR contracts
- Interest details call form in Rollover preference of a RFR contract is enhanced to capture additional details like Computation calendar, Weighted average, Payment Movement and Financial Center.
User Defined Field screen - design change
- User Defined Field (UDF) callform for online screens is redesigned to have separate multiple entry blocks for Character, Date and Number data types.
Fund ID Support in Islamic Money Market
- System is enhanced to support Fund ID association in Islamic Money Market Contract screen.
- The fund id maintained in FCUBS can be fetched and mapped for Profit distribution.

Non-Functional Requirements

System is enhanced to qualify JDK11 features.
Redwood theme adoption is achieved for all OBTR screens.

1.2 Release Enhancements