SCD feed for IC_AA (Fee model commission calculation)
Purpose / Description
SCD as a data source does already provide data for group clients in fee model commission calculation. For IC and AA, there will be a dedicated monthly feed which imports the month end valuations. We always import all data regardless if the agreement is based on month or quarter end values.
The SCD file will be copied multiple times to feed in relevant data such as:
- Products
- Assigning products to product groups
- Counterparties (= Asset Owners)
- Portfolios
- Value of assets held for clean and dirty value
The below mapping allows to identify which data from the file is taken to derive the above information.
Use Case
| As a system I want to import holdings from the SCD monthly feed. Based on these holdings the system needs to calculate fees. | |
| Primary Actor(s) | FSC |
| Stakeholders and Interest | Invoice reviewer, Invoice manager |
| Trigger | Import of the file with dedicated naming convention |
| Pre-condition(s) |
The file has the agreed naming convention, the file is formatted in csv. |
| Post-condition(s) | The file is processed by FSC and results are visible in the session monitor |
| Main success scenario |
FSC picks the file up from the defined storage place. After some pre-processing (see separate use case) the data is imported. Any error are visible in the session monitor. The computation is kicked off after successful import |
| Extensions |
See separate use case for cloning file to - produce portfolio-counterparty links - Counterparty creation - Product creation - Product group creation - Clean vs dirty value asset valuation |
| Exception scenarios |
Note : The import is done monthly. Quarterly and monthly agreements which are calculated based on 'last day of period' can be handled in FSC directly
Calculations based on for example:
will not be automatic. Please contact FinSoft for these agreements as these need to be sourced via the standard template with pre-calculated values and the values from the SCD file excluded to avoid double invoicing
|
| Special requirements |
Both columns for clean value PC (column P) and dirty value PC (column Q) show values in EUR. If in the future, there are values from other currencies delivered, the file needs to be enhanced with a logic to identify the match between value and currency for all cases, Please note that the user will not be able to detect if there is a USD valuation in the file. |
| Open questions |
File sample
Functional Requirements
| Business rules and functional requirements |
| The portfolio source system will be mapped to SCD_IC. |
|
File needs to be copied, so that both clean and dirty value (held in columns P and Q) can be imported. So each product will have a value for clean and for dirty value. To differentiate the valuation between them, the product external ref (G-Depot) will be extended with _CV for clean value. For Dirty value the product external reference remains unchanged. Each of the products is then aligned with the relative columns containing the valuation. |
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Upon import of the file, (new) products will be created in FSC. Due to the two different valuations mentioned in the previous rule, each product needs to exist twice: Once with clean valuation and once with dirty valuation. To differentiate between the products, the dirty valuation is linked to the initial Product external reference (H-SCD Security ID) and the clean valuation will be linked to the Product external reference_CV (H-SCD Security ID). Example. The product external reference (H-SCD Security ID). in the file is LU0123456789. The import creates two products 1) LU0123456789 2) LU0123456789_CV
For these products, different valuations will then be imported 1) LU0123456789 - Asset value (Nr of shares) taken from column Q - Dirty value PC 2) LU0123456789_CV - Asset value (Nr of shares) taken from column P -Clean value PC
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Another import process is the creation and maintenance of product groups. With the inital import, all products (no differentiation by instrument type or group) are added to the newly created product groups depending on their valuation (clean vs dirty value). The two product group will be: All_SCD_IC_Products_CV (containing the products with initial product external reference (SCD Security ID) All_SCD_IC_Products_DV (containing the products with initial product external reference (SCD Security ID)
The link start date for products will be set to 01/01/2026. Ongoing maintenance of links: Any new products found in the file are added to the product group(s) with the start date of 01/01/2026. If a product is no longer delivered in the file, the link remains open. If, for any reason, the link needs to be ended, the user need to manually set an end date to the link. |
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Counterparties are created upon import. Links from portfolios to counterparties will start at 01/01/2026. For ongoing maintenance, any new portfolios will be added with same start end. If a portfolio is no longer part of the file, the link remains open. The termination of links needs to be initiated by the user. |
|
File naming convention should be LiquidAssets_IC_YYYYMMDD where the date should be when the extract is taken or uploaded. |
Field level specification
|
FSC Usage |
SCD column |
Rules |
Size |
Mandatory |
|
Entity |
Take from file name |
Default to AMG |
3 |
No |
|
ISIN |
SCD/SCD_DV |
|
50 |
No |
|
Portfolio external ref |
G - Depot |
|
50 |
Yes |
|
Portfolio code |
G - Depot |
|
50 |
Yes |
|
Portfolio name |
G - Depot |
|
255 |
Yes |
|
Product name |
J- Security Name |
|
100 |
Yes |
|
Product short name |
H- SCD Security ID |
|
50 |
Yes |
|
Product external ref |
H- SCD Security ID |
|
50 |
Yes |
|
Counterparty name |
A- Invoice Group |
|
100 |
Yes |
|
Counterparty Code |
A- Invoice Group |
|
50 |
Yes |
|
Counterparty external reference |
A- Invoice Group |
|
50 |
Yes |
|
Shares ( = AUM) Dirty Value/ Clean Value |
P- Clean Value PC Q- Dirty Value PC |
|
No limit |
Yes |
|
Date |
X - Selection Date |
Yes |
||
|
Product group creation |
H- Security ID
|
|
255 |
Yes |
Link product(s) to product group
|
Product ext ref |
Asset Manager |
Exclusions |
Column / Logic |
Link to Product group |
|
H-SCD Security ID |
All |
Nicht relevant
|
Combine H- Security ID with CV/DV and K-Currency |
Link to start on 01/01/2026 |
Link portfolio(s) to counterparty
Data validation failure response
| Problem | Visibility | Behaviour | Data dependencies | Additional information |
| Mandatory fields missing | Alert in session monitor | Line is not imported | ||
| Fields relate to data not existing (e.g. counter party, subservice etc) | Alert in session monitor | Line is not imported | Set up of sub service and counterparty in FSC prior import | |
| Wrong naming convention | Alert in session monitor | File is not imported | ||
| Negative AUM or AUA values | None | Lines are imported. | If these are not netted off the user can cap the invoice amount at Zero via constraints functionality | |
| File with same name is imported twice | None | Existing lines are overwritten if new data is different from old data. New lines will be added | Matching is done on product/portfolio/subservice and transaction external reference is identical |