riskart Conformance Test: section 1 / section 2 / section 3 / section 4
FX Management System Requirements
Ref				FUNCTION	Description
SECTION 3 - CONTROL REQUIREMENTS						DEGREE OF SUPPORT	COMMENTS
1 General Controls
1	1			Field-by-field input validation	Validation of code input against tables/discrete value lists and enforcement of mandatory input conditions – on exit from field.	PS	All the tables of value list are updatable via DB Tools
					Are updates to tables/discrete value lists segregated from standard data input and controlled through special security permissions?
1	2			Currency amount input	Validate number of decimal places and rounding conventions appropriate to currency.	RM
1	3			Currency amount display	Display currency amount with correct number of decimal places.	RM
1	4			Currency amount maximum sizes	Please state:
1	4	1			- Maximum size of currency amount storable in database.		35 Integer + 20 Decimals
1	5	2			System should allow the user to define and update these tolerances periodically.	NS
1	6			Transaction execution and settlement date validation	System should generate warnings if transaction execution date or settlement date is on a weekend or a holiday as per system calendar (multiple calendars by currency/country), but allow posting.	FS	Dates can be calculated and/or forced
1	7			Transaction value validation	System should generate warning if notional value limits are reached or exceeded.  These limits should be configurable by trade type and users’ authorization.	RM
1	8			Exchange rates	Maintenance of spot and forward rates.  Please state if system maintains a full cross-currency rate table.  Please indicate how spot, forward rates are stored on the database to facilitate report writing.	FS	riskart maintain the history of the price/rate tables and is possible to calculate cross for spot needs.
1	9			Multiple rate sets	Ability to manually maintain multiple exchange rates sets (e.g., market, accounting, budget, simulation, etc.).	FS
1	10			Error logging	All error messages should be logged.	FS
1	11			Error message lookup	It should be possible to lookup (by error message number or by alphabetical list) all error messages reported by the system, to determine their meaning and the appropriate corrective course of action.	FS	Each error is explained in deep on the screen.
1	12			Error notification	Error messages or events of a certain severity level should be immediately notified to the system administrators group and user by e-mail, system messaging or reports.	RM
1	13			Audit trail	Full audit trail of transactions and details entered into the system.	FS
1	14				Does the system include failed login attempts?	FS
1	15				Is User ID associated with all transactions?	FS
1	16				Is there an audit trail of all changes made to a transaction?	FS
2 Deal Controls
2	1			Exposure diary	System maintains end-of-day diary of transactions by instrument executed on that day.	FS	System maintains all the executed transactions.
2	2			Log file of all system actions and violations	To include failed login attempts, and out of hours dealing, and attempts to perform or access unauthorized transactions.	PS
2	3			Cancelled/amended deals	List of all cancelled or amended (after confirmation) transactions showing:
2	3	1			-  Date.	FS
2	3	2			-  Date deal originally entered.	PS
2	3	3			-  Deal number.	FS
2	3	4			-  Entity.	FS
2	3	5			-  Counterparty.	FS
2	3	6			-  User who originally entered and user that cancelled deal.	PS
2	3	7			-  Maturity date of deal.	FS
2	3	8			-  Narrative on why cancelled/amended.	FS
2	3	9			-  New deal number if replaced.	FS
2	4			Confirmation control register	Displaying:
2	4	1			-  Prior day confirmed deals.	FS
2	4	2			-  All unconfirmed deals.	FS
2	4	3			-  Items in suspense account.	FS
3 Database Security
3	1			User rights: data access control	Access to data (legal and reporting entities) determined by membership of user locations.	NS	Through db tools
3	2			Database connectivity	If an open architecture, are there controls that prevent an authorized or unauthorized user from making an Open DataBase Connection (ODBC) directly to the database and making changes or viewing confidential data?	PS
3	3			Database versions	List the databases and their minimum and maximum versions that the application can run on?  What database was originally used during the design and development stage of the application?		Requirement : MS SQL > 7.0 and Oracle 8. Development on MS SQL and Oracle.
3	4			Database views, synonyms, and privileges	What database privileges does the application schema owner require?		DBOwner
3					If there are individual user accounts in the database, what database privileges do they require?		--
3					Are privileges on the database tables given to public, to roles, or to individual user accounts?		Public, we use one Login to DB for one riskart.
4 Confirmations/Settlements
4	1			Confirmation output devices	The system should be able to automatically generate and deliver confirmations, and error messages, by the following mechanisms:
4	1	1			-  Confirmation matching systems.	PS	riskart create files formatted for the output system
4	1	2			-  Fax.	PS	riskart create files formatted for the output system
4	1	3			-  Print.	FS
4	1	4			-  E-mail.	RM
4	2			Confirmation notifications	How does the system handle outgoing payment confirmations? Specifically, is the user informed automatically of any execution problems?  How quickly are confirmations attained?	NS
4	3			Confirmation/settlement letters - external and internal	Delivery mechanism and standard format should be determined by:
4	3	1			-  Transaction type.	FS
4	3	2			-  Purpose.	FS
4	3	3			-  Counterparty (internal and external).	FS
4	3	4			-  Buy/Sell.	FS
4	3	5			-  Trading entity.	PS
4	3	6			Are formats user-defined?	PS
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