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Chess-T
Chess-T has been developed to meet the requirements of front and back offices regarding money market, FX spot, forward and swap transactions. By the Straight Through Processing (STP) , the entire trade process for deals can be conducted without the need for manual intervention. Chess-T has a capability for capturing deals from various trading platforms by generating automatic payment messages , expectation and accounting records. Detailed counterparty limit risk monitoring and various kinds of legal and other reports are also provided by the treasury module.
DEAL MANAGEMENT
Deal Capture
  • Integration possibility with Global Dealing Systems (ex: Reuters)
    • Deals
    • Conversations
  • Format Validation
  • Data Validation
Manuel Entry
  • Easy-to-use screens
  • Minimum Data Entry
  • One-click hedging deal creation for forward deals
Instruments
  • Money Market
  • FX
    • Spot
    • Forward
    • Currency Swap
  • Fixed Income
    • Buy/Sell
    • Repos
Transaction Types
  • Between Departments (MM,FX)
  • Book To Book (FX)
  • Position Transactions (all)
  • Between Departments (MM,FX)

    Counterparty = Bank ( Both SSI are external )

  • For FI transactions both ISE and OTC markets are supported
  • Customer Transactions (all)

    Counterparty = Customer ( Both SSI are external )

Deal Amendment & Cancellation
  • Dealer can amend or cancel a deal at any time
  • System generates the amendment confirmation messages or cancellation confirmation messages automatically
  • If the payment leg and/or receipt leg has not been completed their process yet, system cancels the related payment message and/or expectation record
  • Reversal of accountings are generated after the back office approval
Dealer Reports
  • Blotter
  • Trade History
Back Office Reports
  • Reconciliation Reports
  • Counterparty Limits
  • Tracking Screen
  • Deal Reporting
CONFIRMATION
MT300* for FX transactions, MT320** for MM transactions are generated automatically

The rules of matching an incoming confirmation message with a created message can be defined by the users

Matching Types
  • Auto Match
  • Partial Match
  • Manuel Match
  • One – Sided Match
SETTLEMENT
Netting
  • System determines which transactions should be netted based on SS
  • Users have the possibility to remove transactions from netting queue
  • Users have the possibility to add transactions to the netting queue
PAYMENT
  • Payments are created after;
    • Back Office Approval
    • Limit Availability
    • Confirmation Matching
  • Payment messages are created automatically
    • EFT Messages for TL transactions
    • SWIFT Messages for FX transactions
    • Cover SWIFT Messages for ALL transactions
  • SSI Management
  • The message type that should be generated can be customized for each SSI
Product Advantages
  • STP. From Deal capture, to settlement and accounting
  • Parametrical design
  • Powerful interfacing. Broad range of ready adapters.
  • Accounting rules, parametrical definition
  • Automatic creation of expectation messages
  • Automatic creation and routing of Swift/EFT messages, payments and confirmation
  • New technology
  • User, role based security. Four eyes principles.
  • Netting functionality
Chess-T Details
Overview
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