Financial Services - Entities

Entity functionality is related to all the objects that work with Transactions, these mainly include Entities, Entity Sets and Instruments, along with associated relational data.

Entities Features

The main objects that work with Transactions are as follows:

  • Entity Set
    This is the main corporate structure that contains all the legal Entities within it. Within Asset Management this would be the overall Fund itself, within other areas it may just be the overall legal corporate structure of a global corporation.
  • Entity
    These are the legal entities within an Entity Set that are companies within their own right but owned by parent entities within the structure in the Entity Set. They are also the Entities that can be the ultimate beneficiary owners (either individuals or companies) of the top level company (or companies) within the Entity Set. This could be the Shareholders, Partners, etc.
  • Instrument
    This is the legal financial instrument that Transactions can be recorded against.

All 3 of these entities at their basic level have a Currency associated with them. As such all Transactions are recorded in 3 currencies: Local (The currency of the Instrument), Functional (The currency of the legal Entity) and Reporting (The Currency of the Entity Set overall).

Tip

The platform has these entities with basic information out of the box. However the system is designed that all of these can be inherited from and expanded for your particular vertical within financial services.

For instance with Asset Management you can create new custom objects (through Custom Entities or our API) that provide create these entities (which we've done with our Asset Management Accelerator):

  • Funds
    A fund can inherit an Entity Set to hold the entire entity structure
  • SPV's, AIV's, Blocker's. etc.
    Legal Entities that are part of the entity set structure and can have Transactions booked against them
  • Partners
    The ultimate owners of any Transactions in the Fund and receive all allocations through Rules, Paths and Mappings.
  • Security Rounds/Lots
    The underlying instruments issued by companies purchased by the legal entities within the Fund

Equally in Insurance the Instruments can be Policies, etc.

Functionality

Entities consist of the following areas of functionality:

  • Industries
    Standing Data for the type of Industry any company is in
  • Domiciles
    Standing data for the country a company is located within
  • Companies
    Legal Companies that contain basic information for any company type. These are Entities within the system and can be entities in an Entity Set structure, or Entities within Allocation Rules, or both.
  • People
    Legal individuals that contain basic information for any person. These are also Entities within the system and can be Entities for Allocation Rules.
  • Company Structures
    The overall entity that is made up of an Entity Structure consisting of many different legal company Entities. This is an Entity Set and capable of containing legal Entities within it to create an Entity Structure
  • Instruments
    The financial Instrument that a Transaction can optionally operate against. This contains basic information about any financial instrument.
  • Instrument Sets
    A method of grouping sets of instruments together using matching attributes dynamically.
Tip

This means you can create entities, entity sets and instruments straight out of the box using the platform. You can also configure your Transaction engine to work against all of this data.
The platform also allows these to be easily extended through our Designers, API, or Accelerators, to provide functionality relevant for your particular vertical within Financial Services.