
Institutional Broking is also a "single day" operation. There is very little carry over work to the next day (except for RCs).
Brokers using SharePro for Institutional Business as a standalone or as an addition to their Retail business require minimum manual intervention in Custodial Confirmation, OTR generation or Financial Accounts.
Preset Client Specific Excel/CSV files are also system generated.
- Classification of clients as per Category
- Classification as per strategy (for brokerage)
- Setting up the Execution channel (for brokerage)
- Choice of formats and structure of reporting
- Sub-Accounts & MF Schemes are fully supported
- Supports FT,NSDL & NSEIT STP formats
- NSE CLD,CP & RC files
- BSE 6a7a files
- Customized reporting formats can be setup for each client
- Global Security Identifiers can be incorporated in these files
- Client Code
- CP Code
- Change of mode CP->OTR or OTR->CP
- Quantity
- Rate
- Brokerage
[These changes are required if there is a partial or full error eiher in quantity or rate, Client is unable to confirm on time, Client is unable to allocate on time, Client has negotiated brokerage for this deal.]
If Trade is rejected it can be repaired in SharePro by rectifying both at the block level or at the allocation level.
How is Institutional broking different from Retail broking ?
- Client empanelment process is different and dependancy is on the institution
- There is an Institutional/Custodial risk instead of Credit/Market risk
- Execution reporting and confirmation happens before market closure and contract notes are issued throughout the day
- Institutions require specialized and customized servicing whereas retail is a mass processing job
- Integration with global systems may be required by some Foreign Institutional clients
- Failed deals/transactions need to be rectified as per exchange guidelines
- The Institution is the king so specific instructions need to be followed
[Though a broker may have all Retail, PRO & Institutional business in SharePro it all happens on a single instance of the software and naturally without any work-arounds.]