4 Entities - Manage Brokers

This topic explains all aspects of the maintenance of brokers in the system.

Brokers are intermediaries between investors and their investment avenues.

An investor may approach the AMC, seeking to invest in its funds, on the basis of guidance received from a broker. Also, an AMC may contract a broker to market its funds and thereby attract investors.

Being an intermediary, a broker usually receives payments either from investors or the AMC, as the case may be. This payment is known as a commission.

Sometimes, brokers do not act as single entities, but as groups of brokers, in hierarchical structures that entail sharing of profits. The commission earned by a broker may not be credited just to the actual broker for the investment transaction, but could also share with other brokers who are part of the same hierarchical structure.

Oracle FLEXCUBE Investor Servicing enables the AMC to maintain records of brokers and their respective hierarchies in the system database, as well as process and maintain details of commission payments to brokers. This chapter deals with all aspects of maintaining brokers, their hierarchies and processing commission payments in the system.

This topic contains the following subtopics:

• Process Broker Type Detail
  This topic provides the systematic instructions to maintain as many addresses as required for a given CIF.
• Broker Type Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process FCIS Broker Maintenance Detail
  This topic provides the systematic instructions to maintain a record for a broker.
• FCIS Broker Maintenance Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process Transaction Broker Amendment Detail
  This topic provides the systematic instructions to display the Transaction Broker Amendment details.
• Process FCIS Broker Payment Currency Preference Detail
  This topic provides the systematic instructions to specify preferred broker payments in multiple currencies based on the source currency of the commission.
• FCIS Broker Payment Currency Preference Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process FCIS Broker Migration Detail
  This topic provides the systematic instructions to change the default broker, from one broker to the other, for all the unit holders, in bulk.
• FCIS Broker Migration Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process Broker Journal Detail
  This topic provides the systematic instructions to maintain a journal of accounting entries for payments to a broker.
• Broker Journal Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process Raise Broker Commission
  This topic provides the systematic instructions to raise broker commission.
• Process FCIS Broker Authorization
  This topic provides the systematic instructions to authorize the broker details.
• Process Commission Payment Status Change
  This topic provides the systematic instructions to change the commission payment status.
• Commission Payment Status Change Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process Broker Commission Payment
  This topic provides the systematic instructions to determine the date of commission payment for all commission transactions raised from a specific agency branch or across all agency branches.
• Process FCIS Minimum Commission Payment Amount Maintenance Detail
  This topic provides the systematic instructions to maintain a minimum payment amount for each commission payment currency.
• FCIS Minimum Commission Payment Amount Maintenance Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Process Entity Commission Payment Inquiry Detail
  This topic provides the systematic instructions to inquire entity commission payment.
• Process FSA Registration Maintenance Detail
  This topic provides the systematic instructions to capture FSA registration number.
• FSA Registration Maintenance Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.