US20090138387A1

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Publication number: US20090138387A1
Application number: US12/285,063
Authority: US
Inventors: Terence Boyle; Alan Schneider; Nolan Gesher; Jon Cassell
Original assignee: Citibank NA
Current assignee: Citibank NA
Priority date: 1999-03-29
Filing date: 2008-09-29
Publication date: 2009-05-28
Also published as: US7451103B1

Abstract

A method and system for centralized automated reconciliation of investment manager and related custody accounts makes use of computer hardware and software in a service bureau environment to receive information and records electronically from fund managers and custodian banks in different formats, to reformat the files for inputting to the system, and to perform the reconciliation process in a uniform manner. The system also allows one or both of fund managers and custodians to establish matching rules, to view the results of the matching process, to track the investigation process for unmatched records, and to manually match unmatched records.

Description

PRIORITY APPLICATION

This application is a continuation of co-pending U.S. patent application Ser. No. 09/535,877 filed Mar. 28, 2000, entitled “System and Method for Centralized Automated Reconciliation of Custody Accounts”, claiming priority to U.S. Provisional Application No. 60/126,764 filed Mar. 29, 1999, each of which is incorporated herein by this reference.

FIELD OF THE INVENTION

The present invention relates to automated reconciliation of investment manager and related custody accounts, and in particular to a system and method for centralized automated reconciliation of those accounts.

BACKGROUND OF THE INVENTION

In today's investment environment, investment managers or fund managers who represent, for example, institutional investors have to demonstrate to those institutional investors that their records agree with the records maintained by the custodians of the institutions' investment assets, such as the institutional investors' banks. For example, a fund manager acting on behalf of an investor or client buys and sells securities, and those same securities are safe-kept with custodians, such as banks. The fund manager and the custodian each maintains its own books and records, and the securities and cash balances and transactions among those different books and records must be regularly and periodically reconciled.

Typically, the process of reconciling the different books and records is an entirely manual procedure which is performed by the fund manager. The fund manager receives paper statements from the custodian, and the fund manager generally deals with many different custodians. The fund manager pulls a report from its own internal portfolio tracking system and typically performs an “eyeball” scan, such as one hundred shares of IBM on the fund manager's record and one hundred shares of IBM on the custodian's record. The process continues in the same way, for example, for position after position, transaction after transaction, cash item after cash item, and for client after client, until completed.

Such a manual process is extremely tedious and time consuming. Fund managers typically dedicate from two persons up to as many as forty-five persons to this manual process, depending upon how many clients a particular fund manager has. The manual process is error prone and provides no value whatsoever to the business of the fund managers. Most fund managers express a preference to outsource the reconciliation process, if a reliable outsource facility existed.

SUMMARY OF THE INVENTION

It is a feature and advantage of the present invention to provide a system and method for centralized automated reconciliation of client investment accounts which utilizes sophisticated matching software that facilitates the reconciliation of securities and cash positions, transactions and settlements.

It is a further feature and advantage of the present invention to provide a centralized automated reconciliation system and method that provides on-line windows to the results with sort and select capabilities and full investigative facilities to streamline operational work flow and speed up the process to more timely client reporting.

It is another feature and advantage of the present invention to provide a centralized automated reconciliation system and method which enables reconciliation and management of investigations with limited initial investment, low recurring costs and minimum operational involvement.

It is still another feature and advantage of the present invention to provide a centralized automated reconciliation system and method which is fully outsourced to a trusted and experienced service provider which assures integrity and accuracy.

It is a still further feature and advantage of the present invention to provide a centralized automated reconciliation system and method which is seamless and continuous.

It is an additional feature and advantage of the present invention to provide a centralized automated reconciliation system and method with a single point of access for all custody data and accounting and investment activity information.

It is another feature and advantage of the present invention to provide a centralized automated reconciliation system and method that collects, reformats, enhances, and makes fit for electronic reconciliation all of the data from all of its sources.

To achieve the stated and other features, advantages, and objects of the present invention, an embodiment of the present invention makes use of computer hardware and software to provide a method and system for centralized automated reconciliation of accounts, such as fund manager accounts and related custody accounts. An embodiment of the present invention includes a graphical user interface and other system components that enables, for example, a first account record to be received in a service bureau environment from a fund manager and a second account record to be received in the service bureau environment from a custodian. The account records that are received in the service bureau environment include, for example, positions or holdings, such as securities positions or holdings and cash positions or holdings, and transactions, such as securities transactions and cash transactions.

In an embodiment of the present invention, fund manager account records are received, for example, electronically from an internal portfolio tracking system of the fund manager. Custodian account records are received, for example, electronically via an interface to a custody network of the custodian over a network, such as a proprietary financial network. The account records are received electronically in the service bureau environment in varying message and file formats and the system software for an embodiment of the present invention parses, validates and reformats the records to a standard format for uploading to the service bureau database, for example, according to a predefined schedule.

In an embodiment of the present invention, the uploaded account records are automatically compared according to predefined matching rules to identify whether the first account record, for example, from the fund manager, matches the second account record, for example, from the custodian. The system allows either or both of the fund manager and the custodian to predefine the matching rules in any number of ways. For example, the available match groups for the fund manager and the custodian can be predefined. Likewise, the matching rules for one or both of the account records for positions or transactions can be predefined, and the matching rule can be predefined either substantially similar for each or different from one another.

In an embodiment of the present invention, predefining the matching rules also includes, for example, predefining matching criteria in terms of tolerance in one or both of percentage terms and nominal terms. Further, the matching rules can be predefined with respect to any number of items of account record data, such as account number, security identification, units, unit cost, total cost, unit price, and total market value. In addition, the matching rules can be predefined in terms of levels of match success.

The system for an embodiment of the present invention displays one or more reports of the results of the comparison process for viewing by a user and allows the user to download the report in a file. If the account records are identified in the comparison process as unmatched, the system displays a report of the results of the process for the user, for example, with the unmatched first and second account records displayed simultaneously on a consolidated screen. The system allows the user, for example, to manipulate the results, to view a historical report, and to enter data to manually match, date and user ID stamp for auditing the unmatched account records. The system stores a record of the manual match including, for example, a reason for the manual match, date and user Id stamp for auditing, which can be retrieved and viewed from time to time as needed.

The system for an embodiment of the present invention automatically creates mappings of security identifiers across the world's various schemes for identifying securities. The system also makes such capabilities and services available through the worldwide web.

These and other objects, advantages and novel features of the invention will be set forth in part in the description which follows, and in part will become more apparent to those skilled in the art upon examination of the following or may be learned by practice of the invention.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic diagram which illustrates an overview of an example of key entities and the flow of information between the key entities for the process of reconciliation of custody accounts;

FIG. 2 is a schematic diagram which shows an overview of an example of key components and the flow of information between the key components in the service bureau approach to the reconciliation process for an embodiment of the present invention;

FIG. 3 is a schematic diagram which illustrates an overview of an example of key components and the flow of information between the key components for an embodiment of the present invention;

FIG. 4 is a schematic flow chart which illustrates an example of the process of position reconciliation for an embodiment of the present invention;

FIGS. 5-7 are sample Login screens for the system for an embodiment of the present invention;

FIG. 8 is a sample Main Menu screen of the system for an embodiment of the present invention;

FIG. 9 is a sample Change Password screen for an embodiment of the present invention;

FIGS. 10-12 are sample User Group screens for an embodiment of the present invention;

FIGS. 13 and 14 are sample User screens for an embodiment of the present invention;

FIGS. 15 and 16 are sample System Parameters screens for an embodiment of the present invention;

FIGS. 17 and 18 are sample Currency screens for an embodiment of the present invention;

FIGS. 19 and 20 are sample Security screens for an embodiment of the present invention;

FIGS. 21 and 22 are sample Services screens for an embodiment of the present invention;

FIGS. 23-28 are sample Fund Manager screens for an embodiment of the present invention;

FIGS. 29-36 are sample Custodians screens for an embodiment of the present invention;

FIGS. 37 and 38 are sample Scheduler screens for an embodiment of the present invention;

FIGS. 39 and 40 are sample Client screens for an embodiment of the present invention;

FIGS. 41 and 42 are sample Account screens for an embodiment of the present invention;

FIG. 43 is a sample User Client screens for an embodiment of the present invention;

FIGS. 44 and 45 are sample Account Type screens for an embodiment of the present invention;

FIGS. 46-51 are sample Match Group screens for an embodiment of the present invention;

FIGS. 52 and 53 are sample Fund Manager Security Mapping screens for an embodiment of the present invention;

FIG. 54 is a sample Fund Manager Unmatched Result Display Setup screen for an embodiment of the present invention;

FIGS. 55-57 are sample Matched screens for an embodiment of the present invention;

FIGS. 58 and 59 are sample Unmatched screens for an embodiment of the present invention;

FIGS. 60 and 61 are sample Audit Log Query screens for an embodiment of the present invention;

FIGS. 62 and 63 are sample Account Report screens for an embodiment of the present invention;

FIGS. 64-67 are sample Activity Log screens for an embodiment of the present invention;

FIGS. 68 and 69 are sample Error Log screens for an embodiment of the present invention;

FIGS. 70 and 71 are sample Percentage Matched screens for an embodiment of the present invention;

FIGS. 72 and 73 are sample Matched Holdings screens for an embodiment of the present invention;

FIGS. 74 and 75 are sample Matched Transactions screens for an embodiment of the present invention;

FIGS. 76 and 77 are sample Unmatched Holdings screens for an embodiment of the present invention;

FIGS. 78 and 79 are sample Unmatched Transactions screens for an embodiment of the present invention;

FIG. 79ais a sample Form Level Actions-User Group Mapping screen which details the ability of the embodying system to further detail access to the functions of an embodiment of the present invention at the Action level;

FIG. 80 is a sample Profile Setup screen for an embodiment of the present invention;

FIGS. 80a,80band81 are sample Aging Report screens which represent the systems manifestation of the Aging Report for an embodiment of the present invention; and

FIGS. 82 and 83 are sample Custodian Cash Report screens for an embodiment of the present invention.

DETAILED DESCRIPTION

Referring now in detail to an embodiment of the present invention, an example of which is illustrated in the accompanying drawings,FIG. 1 illustrates an overview of an example of key entities and the flow of information between the key entities for the process of reconciliation of custody accounts. The trading, settlement, clearance, and safe-keeping of securities involves several individuals and organizations. These individuals and organizations include, for example, fund managers (or investment management firms)2,custodians4,brokers6, and depositories.Fund managers2 make investments in securities on behalf of theircustomers8. Thesetrades10 are normally made through the services ofbrokers6, who act as agents for thefund managers2.Brokers6, in turn, settle12 thetrade10 withcustodians4, who hold the physical/electronic securities.

The presence of several organizations in the investment process, with each maintaining its own books and records, gives rise to the need for regular orperiodic reconciliation14 of securities and cash balances and transactions among these different books and records. Consider, for example, thefund manager2 and thecustodians4. A fund manager may deal with one or more custodians, depending on the choices made by thecustomers8 whose funds they manage. Similarly, acustodian4 may undertake safe-keeping responsibilities for a variety ofcustomers8, whose funds may be managed bydifferent fund managers2. Each organization in this network maintains its own records for the same set of customer accounts. The process of reconciling customer accounts is a fiduciary responsibility that follows from the management of such accounts.

Differences in the records maintained by thefund manager2 and thecustodian4 may arise due to several reasons. A difference may arise due to the usage of different systems and procedures to recognize sales, purchases, and corporate actions. Differences can also arise due to differences in the timing of such recognition. The balances of thefund manager2 and thecustodian4 for the account of thesame customer8 may be accurate according to their own books, but these “accurate” balances may be different from one another. Whatever the causes of these differences, it is clear that there exists a need for identifying the differences between the two sets of records, and initiating steps to resolve them. This process is calledreconciliation14. The process of investment reconciliation applies to the records, such as securities positions, cash positions, securities transactions, and cash transactions.

The predominant method of reconciliation in the market today is manual verification of printouts of statements from the accounting system of thefund manager2 against printouts of statements from the system of thecustodian4. This is normally done one to two weeks after the close of the month.Reconciliation14 is generally viewed as a repetitive and cumbersome task. Completing a reconciliation properly provides no visible organizational benefit. However, improper reconciliation can cause financial loss to the organization, and negatively impact investment results. Investment accounting and reconciliation is a people intensive process. An investment management firm may deploy anywhere between two to thirty resources for this purpose, depending on the number of accounts and the size of the portfolio that it manages.

An initial task in the process of reconciliation of the records of thefund manager2 with those of thecustodian4 is to make available the data of the one to the other. For example, once the custodian's data has been acquired by thefund manager2, the fund manager's personnel compares it with information generated from its internal investment portfolio accounting systems, to identify the differences between the two. These differences are then taken up for rectification through a process of detailed investigation.

An embodiment of the present invention utilizes, for example, a service bureau approach.FIG. 2 is a schematic diagram which shows an overview of an example of key components and the flow of information between the key components in the service bureau approach to the reconciliation process for an embodiment of the present invention. Referring toFIG. 2, in the service bureau approach, aservice bureau16 affiliated with a financial institution, such as a bank, provides the service of getting the fund manager's data and the custodian's data into the system for an embodiment of the present invention and running a matching program which identifies the records that do not match. Thus, in an embodiment of the present invention, this component of the reconciliation function is automated. Given the distribution and usage of the application for an embodiment of the present invention by multiple legal entities, and the potential data volumes, the system for an embodiment of the present invention provides a robust, “industry-strength” application.

In the manual reconciliation process, the fund manager's personnel spend more than half of their time before they can get to a point at which they have identified all the records that do not match, and at which the actual reconciliation work begins. Usage of the system for an embodiment of the present invention results in significant savings on this count. Theservice bureau16 is in a unique position in which it can obtain most of the data required for providing the reconciliation service with relative ease. Thefund manager2 provides the data because of the perceived benefits from the system. ASWIFT custodian4 is able to send the data on the SWIFT network, and the financial institution's membership of SWIFT enables the affiliatedservice bureau16 to obtain this data.

Within the service bureau approach to the reconciliation process for an embodiment of the present invention, theservice bureau16, which can be a financial institution, such as a bank, interfaces18 with the custody network of aninvestment manager4. Theservice bureau16 develops feeds with the custody network to receive custody data electronically that was formerly provided in the form of paper statements. Theservice bureau16 works directly with thefund manager2 to bring in the data electronically20 as it is represented on the particular internal portfolio tracking system of thefund manager2.

The system and method for an embodiment of the present invention fully automates the entire reconciliation process. Based upon a sophisticated set of matching rules, which is decided by thefund manager2, all of the data inputs are matched in the background in the service bureau environment on the hardware of theservice bureau16. On demand, thefund manager2 accesses theservice bureau16 and is able to run reports, to determine whether and how all the securities positions matched, and to see specifically the details for securities positions which did not match.

FIG. 3 illustrates an overview of an example of key components and the flow of information between the key components for an embodiment of the present invention. The architecture for the centralized automated reconciliation system application for an embodiment of the present invention is a three-tier client/server model, with apresentation layer22, anapplication logic layer24, and adatabase layer26 forming the three tiers. This architecture offers significant advantages in terms of graphical user interface (GUI) isolation, database independence, and a potential for the application of object-oriented concepts for the development of the application layer logic.

The system for an embodiment of the present invention includes a GUI that works in conjunction with the system software, for example, to prompt a user to input data and to provide the user with various information and reports. Other components of the system bring all the necessary custody information into the system, for example, by reading a network that is typically run by financial institutions, such as a SWIFT network. These system components take electronic statements of the information from SWIFT networks, where available. Other system components bring custody information files into the system electronically and read the files into the system database of the present invention, for example, from financial institutions which do not have SWIFT networks. The system and method for an embodiment of the present invention is automated, and all of the feeds and all of the loading of data into the system is triggered automatically.

The system for an embodiment of the present invention utilizes a Sybase relational database and also includes various security tools. The system includes, for example, Sybase II on Windows NT AS or HP Unix 10.x28, Sybase open client connect30, data access servers on Windows NT 4.032, RPC communication mechanism using TCP/IP34, functionality servers on Windows NT 4.036,Swift network38, VisualBasic 4.0 GUI client on Windows NT 4.0workstation40, and RPC's using FFP or SLIP TCP/IP42. The system makes use of computer hardware and software components for the client, the data access server and the functionality server. The client hardware includes, for example, an Intel-486 compatible processor with 16 MB of RAM, a SVGA color monitor, and 1 GB disk. The data access server hardware includes, for example, an IBM Pentium server processor with 64 MB of RAM and 4 GB disk. The functionality server hardware includes, for example, an IBM Pentium server processor with 64 MB of RAM and 4 GB disk. The client software includes, for example, MS Visual Basic 4.0 user interface, MS DOS 6.0 and above operating system, and Windows 3.1, 3.11, 95 or NT 4.0 operating environment. The data access server software includes, for example, Native Driver driver manager, Sybase database, and Windows NT 4.0 operating system. Functionality server software includes, for example, Windows NT 4.0 operating system.

The system for an embodiment of the present invention provides the capabilities in a secure network environment utilizing user access controls and authentication through secure firewalls and in the application, plus encrypted transmissions of data.

The centralized automated reconciliation system application for an embodiment of the present invention runs in a distributed computing environment. The application for an embodiment of the present invention calls the database by making remote procedure calls (RPCs) to three successive servers. The object linking and embedding (OLE) server lies on the same machine as the application. The functionality server can be accessed by the OLE server by using a distributed application profile (DAP) file which specifies, among other things, the Internet Protocol (IP) address of the server machine. The functionality server calls the data access (DA) server using another DAP file. The DA server in turn calls the database (DB) to retrieve the data. There are two servers at each level. The OLE servers are OLECARS and OLEMCARS. Similarly ‘mcars’ and ‘cars’ and ‘mcarsDB’ and ‘carsDB’ are the servers at the functionality level and data access level respectively. Since both the OLE servers use the same DAP file, the functionality servers lie on the same machine. The OLE servers use the ‘Client’ DAP file. The ‘cars’ and ‘mcars’ DAP files are used by CARS and mCARS functionality servers respectively.

The system for an embodiment of the present invention is Windows based and includes the graphical user interface (GUI) and other system components for a user, such as the fund orinvestment manager2, to make connections to the service bureau environment of theservice bureau16. The system components include tool functionalities, such as reporting tools, investigation tools, and tracking tools for the reconciliation process. A significant aspect of the system and method of the present invention is the system software which enables theservice bureau16 to bring in varying messages or file formats, parse the data, validate the data and reformat the data in order to create a standard format. The system software enables theservice bureau16 to deal with many entities which maintain information and records in different formats in different types of databases. The system software allows theservice bureau16 to bring in the information and records in different formats, to reformat the files for inputting to the system of the present invention, and to perform the reconciliation process in a uniform and consistent manner.

In an embodiment of the present invention, thefund manager2 identifies the client account information to be held in the system, including the fund manager's client account names and corresponding custodian client account names, and establishes the link within the system that collects the client account data for thefund manager2. The system enables thefund manager2 to manipulate the matching criteria for the client account data. The system allows thefund manager2 to establish the same matching rules across-the-board or different matching rules for positions and for transactions, depending, for example, on the source of the data. The system provides thefund manager2 the flexibility to establish matching rules to meet the fund manager's particular needs.

The GUI of the system for an embodiment of the present invention allows a user, such as thefund manager2, to describe and proscribe the fund manager's workflow process. For example, thefund manager2 can allocate certain functions within the system to different individuals within the fund manager's operation and to segregate the work along the same lines, so that data access is distributed across those individuals to distribute the work. The system of the present invention gives thefund manager2 the ability to view the results of the matching process for the reconciliation procedure either in a report form displayed on the screen of a computer, such as a personal computer (PC), or the report can be printed on a printer, for example, connected to the PC. Likewise, the system gives thefund manager2 the option to download the results of the matching process in a file.

Further, the system for an embodiment of present invention allows thefund manager2 to display and manipulate the results, such as unmatched items, and to track the investigation process, for example, at the PC. In an embodiment of the present invention, the reconciliation process is more than simply performing the matching process and identifying matched and unmatched items. For example, at some point, it is necessary to investigate and correct unmatched or mismatched items. While the system allows the investigation and correction to be performed within the system of either thefund manager2 or thecustodial bank4, typically the investigation and correction process is the responsibility of thefund manager2. Thus, the system allows, for example, thefund manager2 or thecustodian4 to track any discussions or actions that are taken in order to make the corrections. The system also allows either or both parties to see the history of the process by accessing an archive of the reconciliation work that was done in the past.

The system and method for an embodiment of the present invention is a menu driven process, for example, in which a user using the GUI defines the criteria for the process and the way in which the process is performed. The system software presents various menus which include, for example, icons and fields for the GUI on a Windows based operating system. The system software is designed to be easy and intuitive to use and prompts the user through the use of the menus and icons of the application software.

The system and method for an embodiment of the present invention provides flexibility, for example, in allowing thefund manager2 to describe the matching criteria in any way that is suitable to thefund manager2. The system does not restrict the elements that are used in matching and allows a selection of any elements to be tracked. The system also allows selection of different kinds of tolerances to the elements. For example, if the particular data is in numerical form, and thefund manager2 seeks to match to the quantity of shares held, thefund manager2 can tolerate being off by a penny or a single share. Therefore, the system allows a certain amount of flexibility in enabling, for example, thefund manager2 to complete the fund manager's work in its particular operation.

In an embodiment of the present invention, the reconciliation process applies to records, such as securities positions, cash positions, securities transactions, and cash transactions. The system of the present invention automatically performs the reconciliation process in a number of steps.FIG. 4 is a schematic flow chart which illustrates an example of the process of position reconciliation for an embodiment of the present invention. Examples of those steps include receiving the records by the system from thecustodian4 and S1 and from thefund manager2 at S2; formatting the records from thecustodian4 at S3 and from thefund manager2 at S4; uploading the records to the system database for thecustodian4 at S5 and for thefund manager2 at S6; defining matching rules for the records for thefund manager2 andcustodian4 respectively and matching the records according to the matching rules at S7; generating a report of matched and unmatched records at S8 and S9, respectively; and reconciling and correcting unmatched records at S10.

In an embodiment of the present invention, position reconciliation refers to the verification by thefund manager2 of all the securities and cash balances in their books, against the corresponding balances in the books of thecustodian4. This exercise results in the identification of position records that do not match, at S9, where it becomes necessary to investigate the cause of the discrepancy. The system for an embodiment is able to receive the position records from fund managers and custodians in SWIFT, ISITC and non-SWIFT proprietary formats. The data can be in the form of fixed-length, or comma-delimited, or tab-delimited records. The system allows for a sub-set of the expected data elements to be received from a particular entity. Such data is not rejected on account of incompleteness. For this purpose, the basic minimal set of data elements is identified which must be present in any data that is received for the purpose of reconciliation. A facility is provided to convert the incoming messages and files into the format required by the system at S3 and S4, respectively, and to upload the data into the system database at S5 and S6, respectively.

The system for an embodiment of the present invention allows matching rules to be defined for each combination of fund managers and custodians at S7. Apart from defining equality and other relational rules, such as Mgr_Security_Id=Cust_Security_Id, there is a provision to define flexible rules. As an example of a flexible rule:


If (Mgr_Security_Id is not = Cust_Security_Id)
If (the first three characters (upper or lower case) of each word in the
Security Description field for the two records are the same)
Consider the case as a match.

At S7, the positions data received from the two sides is matched according to the rules defined for the matching, which may include tolerances in percentage or nominal terms for each rule. These rules may encompass, but are not limited to, one or more data item, such as account number, security Id, units, unit cost, total cost, unit price, and total market value. Different levels of match success may be defined, depending on how close the match is.

The system is able to present to thefund manager2, the matched data at S8 and the unmatched data at S9 separately. For the unmatched data, the system presents both sides of the picture on a consolidated screen, so as to enable the reconciliation personnel to view all the required information at a glance. At S10, a facility is provided for the personnel offund manager2 to enable them to force a manual match on records that have not matched as per the automated rules. Such manual matches have a reason assigned to them, as well as a date and user Id stamp, which the system captures, stores, and retrieves, as required. Such status changes require authorization. There is a set of useful queries and reports built into the system. This includes queries and/or reports to make available for viewing the reconciled data to thefund manager2 at a summary and detailed level. These queries and reports are defined as a part of the functional specifications for the application.

In an embodiment of the present invention, transaction reconciliation refers to the verification by thefund manager2 of all the securities and cash transactions, such as sales, purchases, and corporate actions, in their books, against the corresponding transactions in the books of thecustodians4. This exercise results in the identification of transaction records that do not match, where it becomes necessary to investigate the cause of the discrepancy. The process of transaction reconciliation for the system application for an embodiment of the present invention is similar to that of position reconciliation, with certain significant differences. First, the data received from thecustodian4 at S1 and thefund manager2 at S2 pertains to transactions, rather than positions. While there is typically data for each account coming in daily for positions, transaction data comes in only if there have been one or more transaction(s) for the particular account on the given date. Second, it is important to include balance-to-balance reconciliation as a part of transaction reconciliation. This entails reconciling a set of records which consists of an opening balance, a set of transactions, and a closing balance.

An important aspect of on embodiment of the present invention is the service bureau environment with the system software, which enables the handling of a multiplicity of different message and file formats, yet still creates a single file feed into the system application. The system for an embodiment of the present invention provides a service bureau environment as a flexible accounting tool for fund or investment managers, who provide the data to the system. The system links to any fund manager's system, collects the custodial information and brings it all together within a service bureau environment, and provides additional support to thefund manager2. Another important aspect of an embodiment of the present invention is a high level of system security, which creates a trusted and secure environment. The system provides centralized automated account reconciliation in a trusted and secure environment of a financial institution, such as a bank. For example, all system data that goes through the network is encrypted, and the highest level of security measures are provided for user access to the system data.

In an embodiment of the present invention, the system data related to a particular fund manager is never mingled with the data of any other fund manager and is never accessible by another fund manager. The system utilizes firewalls to protect access to the system data and requires a clearance to get through the firewalls. The network itself has a firewall which requires a special encrypted key or password in order to get into the network. The encryption utilizes the highest level of encryption standards that are used, for example, in the United States, namely 128-bit encryption.

The centralized automated reconciliation system application for an embodiment of the present invention is used in a highly distributed environment where multiple legal entities use it to reconcile their data. In order to maintain the confidentiality of the data of each entity, and to provide access to data on a need-to-know basis, the system is characterized by robust security features and tight controls. Security aspects for the centralized automated reconciliation system application for an embodiment of the present invention include, for example, user profile definition, user groups or use levels definition, mapping users to groups, mapping functions to groups, login and logout, and changing password. In general, the system application for an embodiment of the present invention is always run under the security umbrella provided by the SMS (Security Management System) component of the application. The security shell, therefore, supersedes all other application functions. Login to the application verifies the user Id and password and provides access to the functions to which the particular user is entitled. An audit log of the logins and logouts is maintained. Users of the application for an embodiment of the present invention are classified into groups with appropriate names and their functions.

The system for an embodiment of the present invention assists thefund manager2 and thecustodian4 in reconciling the portfolios of theircustomers8. The data for the reconciliation is received either in the form of files or SWIFT/ISITC messages at S1 and S2. At S5 and S6, data received from thefund manager2 andcustodian4 is loaded into the system database based on a pre-defined schedule. On completion of the loading, at S7, the matching process attempts to establish a match between a set of uniquely identifiable records from both thefund manager2 and thecustodian4, based on the available match groups defined for the fund manager-custodian combination. The match process attempts to match all such unique sets of records. At the end of the match process, all sets of records that have not been matched are marked as unmatched at S9. Thefund manager2 is then able to view the match results and take appropriate action on each of the sets of records.

Features provided in the application for an embodiment of the present invention include, for example, a Search facility, a Sort facility, and a Print facility. The Search facility is provided in the list screens of most of the maintenance options. This feature can be used to look at selective records by entering one or more characters in the Search On fields. The Search facility is case-sensitive and shows all records which satisfy the search criteria. The Sort facility, which is a facility to sort a list of records, is provided in all the screens which are in the form of a grid. To sort a list of records on a particular column, the user clicks on the column header or column name. The Print facility is provided in most of the screens to print the data as seen on the screen. To print a particular screen, the user clicks the Print button.

An Access aspect of the system for an embodiment of the present invention involves procedures for accessing the system including, for example, System Login and Changing Password.FIG. 5 is asample Login screen50 for an embodiment of the present invention. On invoking the system application for an embodiment of the present invention, theLogin screen50 is displayed for the user. The user enters aUserId52 andPassword54 and clicks LogOn56 to login to the application. If the user does not wish to login to the application, the user clicksExit58.FIG. 6 is a sample Incorrect UserId Error Message screen for an embodiment of the present invention. If the user enters an incorrect user Id, the Incorrect UserIdError Message screen60 is displayed for the user.FIG. 7 is a sample Incorrect Password Error Message screen for an embodiment of the present invention. If the user enters an incorrect password, the Incorrect PasswordError Message screen62 is displayed for the user.

FIG. 8 is a sample Main Menu screen of the system application for an embodiment of the present invention. If the user enters the user Id and password correctly, theMain Menu screen64 with menu options, such asFile66,View68, Administration70,Setup72,Query74,Reports76,Security78, and Help80, for which the user has access privileges assigned to him or her is displayed for the user.FIG. 9 is a sample Password Change screen for an embodiment of the present invention. In case the user wishes to change his or her password, the user clicks theSecurity menu78 from theMain Menu64 and selects the Change Password option, and theChange Password screen82 is displayed for the user. The user enters the user'sPresent Password84 and a New Password86, re-enters the new password againstConfirm Password88, and clicks OK90 to save the new password. The user's new password will be effective from the user's next login.

A System Setup aspect of an embodiment of the present involves a number of initial setup functions that are performed by the system administrator including, for example, User Groups, User Group Mapping, Users, and System Parameters. On installation of the application for an embodiment of the present invention, a user group and user are created by the installation process. The system administrator of the system can login using a user Id and password previously created. Thereafter, a sequence of operations is performed by the system administrator to complete the setup. For example, the system administrator can go to Administration→User Group and create one or more user groups for customer services. In the User Groups list screen, the system administrator selects a user group, and clicks a Functions button to provide access to menu options through the User Group-System Function Mapping screen. The system administrator can go to Administration→User and create one or more users for the user group(s) created. The customer service users can then access the customized automated reconciliation system application to setup the details to ready the system for use by a user. The system administrator can then perform the additional steps of creating one or more user groups for fund managers, providing access to menu options to the user group(s), and create users for these user group(s). The application can then be accessed by the fund managers given their user Id and password.

FIG. 10 is a sample UserGroup List screen92 andFIG. 11 is a sample UserGroup Details screen94 for an embodiment of the present invention. In order to invoke a User Groups option from the Administration menu70, the system administrator clicks User Groups. The purpose of this option is to allow the system administrator to maintain user groups. The entire operation is divided into two screens, namely the UserGroup List screen92 and the UserGroup Details screen94. The system administrator can view the entire list of user groups, in the UserGroup List screen92 in a tabular form. The details of a particular user group can be seen in the UserGroup Details screen94. The access to various system functions can be provided for a user group through the User Group Mapping screen. There are no pre-requisites to add/modify a user group, but to delete a user group, it is a pre-requisite that no user must belong to the user group which is to be deleted. The usergroup System Administrator96 is a default user group created to run the system application for an embodiment of the present invention, and this user group cannot be deleted.

Referring further toFIGS. 10 and 11, to view details of a user group, the system administrator double clicks the desired record or selects the desired user group from the list and clicksView108/presses Enter. In order to provide access to system functions for a user group, the system administrator clicks the desired record to select the user group, and clicksFunction110 to go to a User GroupMapping screen. When the system administrator clicks OK100, the screen closes after saving message details. In theDelete mode106, the system administrator clicks Yes to confirm the deletion; otherwise the system administrator clicks No. When the system administrator clicks Close112 after making modifications, he or she has three choices, namely, to click Yes to exit after saving, to click No to exit without saving, and to click Cancel to maintain the status quo.

FIG. 12 is a sample User Group Mapping screen for an embodiment of the present invention. To invoke this option the system administrator selects the Administration option70 from theMain Menu screen64 ofFIG. 8 and from the Administration menu clicks User Groups. The system administrator then selects a user group and clicks Functions. This option allows the system administrator to set the privileges for various system functions menu options that can be accessed by users belonging to a particular user group. The system administrator can set up these privileges in the UserGroup Mapping screen114. As a pre-requisite, the entries for system functions and user groups desired for mapping must be completed before the mapping can take place. The UserGroup Mapping screen114 lists the System Functions Available in thelist box116 on the left side of the screen and the System Functions Mapped in thelist box118 on the right side of the screen. The system administrator can add or remove the system functions from the user group privileges.

Referring toFIG. 12, to get the current privileges for a user group, the system administrator selects the UserGroupId from a pull downlist120. In order to add a system function in the selected user group privileges, the system administrator selects one or more records from the System FunctionsAvailable list box116 and clicks Add122. The records shift to the System Functions Mappedlist box118, and the systems administrator clicks OK. In order to remove a system function from the selected user group privileges, the system administrator selects one or more records from the System FunctionsAvailable list box116 and clicks Remove124. The records shift to the System Functions Mappedlist box118, and the system administrator clicks OK.

Referring further toFIG. 12, to copy user group privileges from another user group, the system administrator selects the user group Id for which he or she wants to set privileges, selects the user group Id from which he or she wants to copy the privileges, and the list boxes are populated with the privileges of the selected user group Id. The system administrator can add or remove privileges to them if required and clicks OK to save the changes. When the system administrator clicks OK, the changes are saved. The system administrator can change the selection of user group Id and set privileges for it. When the system administrator clicksClear126 after making modifications, he or she is offered a choice to click Yes to save the changes and the entry fields are cleared or a choice to click No to clear the entry fields without saving any changes or to click Cancel to maintain the status quo. When the system administrator clicks Close128 after making modifications, he or she is offered a choice to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 13 is a sample Users screen andFIG. 14 is a sample User Details screen for an embodiment of the present invention. In order to invoke this option, the system administrator selects Administration70 from theMain Menu screen64 and from an Administration menu clicks Users. This option allows the system administrator to maintain users. The entire operation is divided into theUsers list screen130 and a User Details screen132. The system administrator can view the entire list of users in theUsers list screen130 in a tabular form. The details of a particular user can be seen in the User Details screen132. Pre-requisites to add/modify a user are that it is necessary to first create the user group to which the new user is to be allocated, and if the user is a fund manager, then the entry for that fund manager must be made before a new user is created.

Referring toFIG. 13, theUsers screen130 lists all users. In order to delete a user, the user must not be present in any account details. The Users screen130 lists the available users. The system administrator can add new users, and can modify, view and delete existing users. To search for users, the system administrator enters the first few characters of the user Id and/or the user group Id of the users for which he or she is looking and clicksSearch134. The search facility is case sensitive. The list displays only those records whose first few characters match the characters entered. The system administrator clicksClear136 to revert to the entire list.

ReferringFIGS. 13 and 14, to add a new user, the system administrator selects a record from the list and clicksAdd138. This launches the User Details screen132 with the details of the selected record on which the key fields are blank. The system administrator enters the required details and clicks OK140 or selects a blank record from the list by clickingClear136 and clicks Add138. This launches the User Details screen132 with all entry fields blank. The system administrator enters the required details and clicks OK140. To modify a user, the system administrator selects a record from the list and clicks Modify142. This launches the User Details screen132 with the details of the selected record on which the key fields are not editable. The system administrator then modifies the required details and clicks OK140.

Referring further toFIGS. 13 and 14, to delete a user, the system administrator selects the desired user from the list and clicks Delete144, and the User Details screen132 is launched. The system administrator clicks on the OK140 button, and a message box Delete Details? is displayed. The system administrator clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. It is not possible to delete the user system administrator, which is the default user created during installation of the application for an embodiment of the present invention. To view details of a user, the system administrator double clicks the desired record or selects the desired user from the list and clicksView146/Presses Enter. When the system administrator clicks OK, the User Details screen132 closes after saving the user details. In the delete mode, the system administrator clicks Yes to confirm the deletion; otherwise, he or she clicks No. When the system administrator clicks Close148 after making modifications, he or she is offered a choice to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 15 is a sample System Parameters List screen andFIG. 16 is a sample System Parameters Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the system administrator clicks System Parameter. The purpose of this option is to allow the system administrator to maintain various system parameters. The operation is divided into the SystemParameters List screen150 and a System Parameters Detailsscreen152. The system administrator can view the entire list of system parameters in the SystemParameters List screen150 in a tabular form. The details of a particular system parameter can be seen in the System Parameters Detailsscreen152. There are no pre-requisites for adding or deleting a new system parameter.

Referring toFIGS. 15 and 16, the SystemParameters List screen150 lists the available system parameters. The system administrator can add a new system parameter, or modify, view or delete existing system parameters. To add a new system parameter, the system administrator selects a record from the list and clicks Add154, which launches the System Parameters Details screen152 with the details of the selected record on which the key fields are blank. The system administrator enters the required details and clicks OK156 or selects a blank record from the list by clickingClear158 and clicks Add154. This launches the System Parameters Details screen152 with all entry fields blank. The system administrator enters the required details and clicks OK156. To modify an existing system parameter, the system administrator selects a record from the list and clicks Modify160. This launches the System Parameters Details screen152 with the details of the selected record on which the key fields are not editable. The system administrator modifies the required details and clicks OK156.

Referring further toFIGS. 15 and 16, to delete a system parameter, the system administrator selects the desired system parameter from the list and clicks Delete162, and the System Parameters Details screen152 is launched. The system administrator clicks on theOK button156, and a message box Delete Details? is displayed. The system administrator clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. In order to view details of an existing system parameter, the system administrator double clicks the desired record or selects the desired system parameter from the list and clicks View164/presses Enter. When the system administrator clicks OK156, the screen closes after saving system parameter details. In the delete mode, the system administrator clicks Yes to confirm the deletion; otherwise he or she clicks No. When the system administrator clicks Close166 after making modifications, he or she is offered a choice to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

A Customer Service Setup aspect of an embodiment of the present invention involves setup functions performed by customer service, such as Currency Maintenance, Security Types Maintenance, Services Maintenance, Fund Managers, Fund Manager Services, Fund Manager Import File Mapping, Custodian Banks, Custodian Contacts, Custodian Services, Custodian Import File Mapping, and Scheduler Setup.FIG. 17 is a sample Currency List screen andFIG. 18 is a sample Currency Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Currency. This option allows the user to maintain currencies. The entire operation is divided theCurrency List screen168 and theCurrency Details screen170. The user can view the entire list of currencies in theCurrency List screen168 in a tabular form. The details of a particular currency can be seen in theCurrency Details screen170. There are no pre-requisites for adding a new currency, but if a particular currency is set as the base currency for a fund manager or a custodian, then that currency cannot be deleted. TheCurrency List screen168 lists the available currencies. A user can add new currencies or modify, view and delete existing currencies.

Referring toFIGS. 17 and 18, to search on currency, the user enters one or more characters in theCurrency Id field172 and/orCurrency Name field174 andclicks Search176. The search facility is case sensitive. This will display the currency records that satisfy the entry. The user clicksClear178 to revert to the entire list. To add a new currency, the user selects a record from the list and clicksAdd180. This launches the Currency Details screen170 with the details of the selected record, the key fields of which are blank. The user enters the required details and clicks OK182 or selects a blank record from the list by clickingClear178 and clicks Add180. This launches the Currency Details screen170 with all entry fields blank, and the user enters the required details and clicks OK182.

Referring further toFIGS. 17 and 18, to modify an existing currency, the user selects a record from the list and clicks Modify184. This launches the Currency Details screen170 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK182. To delete a currency, the user selects the desired currency from the list and clicks Delete186, and the Currency Details screen170 is launched. The user clicks on theOK button182, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing currency, the user clicks the desired record or selects the desired currency from the list and clicksView188/presses Enter. When the user clicks OK182, the screen closes after saving currency details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close190 after making modifications, the user is offer choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 19 is a sample Security Type List screen andFIG. 20 is a sample Security Type Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the security administrator clicks Security Type. This option allows the user to maintain various security types. The entire operation is divided into the SecurityType List screen192 and a Security Type Details screen194. The user can view the entire list of security types in the SecurityType List screen192 in a tabular form. The details of a particular security type can be seen in the Security Type Details screen194. There are no pre-requisites for adding a new security type, but a pre-requisite for deleting an existing security type is deletion of all the entries in the match group level maintenance for the security type to be deleted. The SecurityType List screen192 lists the available security types. The user can add a new security type or modify, view or delete an existing security type.

Referring toFIGS. 19 and 20, to search on security types, the user enters one or more leftmost characters in the SecurityType Id field196 and/or the SecurityType Description field198 andclicks Search200. This displays the security types that match the entry. The user clicksClear202 to revert to the entire list. To add a new security type, the user selects a record from the list and clicksAdd204. This launches the Security Type Details screen194 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK206 or selects a blank record from the list by clickingClear202 and clicks Add204. This launches the Security Type Details screen194 with all entry fields blank. The user enters the required details and clicks OK206.

Referring toFIGS. 19 and 20, to modify an existing security type the user selects a record from the list and clicks Modify208. This launches the Security Type Details screen194 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK206. To delete a security type, the user selects the desired security type from the list and clicks Delete210, and the Security Type Details screen194 is launched. The user clicks on theOK button206, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind.

Referring further toFIGS. 19 and 20, to view details of an existing security type, the user double clicks the desired record or selects the desired security type from the list and clicksView212/presses Enter. When the user clicks OK206, the screen closes after saving security type details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close214 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 21 is a sample Services Types List screen andFIG. 22 is a sample Service Type Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Service. This option allows the user to maintain various service types. The entire operation is divided into the Service TypesList screen216 and a Service Type Details screen218. The user can view the entire list of service types in the Service TypesList screen216 in a tabular form. The details of a particular service type can be seen in the Service Type Details screen218. There are no pre-requisites to add, modify or delete a service type. The Services TypesList screen216 lists the available service types. The user can add new service types or modify, view and delete existing types.

Referring toFIGS. 21 and 22, to search for service types, the user enters the first few characters of the service type Id and/or service type description of the service type for which he or she is looking and clicksSearch220. The search facility is case sensitive. The list displays only those types whose first few characters match the characters entered. The user clicksClear222 to revert to the entire list. To add a new service type, the user selects a row from the list and clicksAdd224. This launches the Service Details screen218 with the details of the selected type on which the key fields are blank. The user enters the required details and clicks OK226 or selects a blank row from the list by clickingClear222 and clicks Add224. This launches the Service Details screen218 with all entry fields blank. The user enters the required details and clicks OK226.

Referring further toFIGS. 21 and 22, to modify a service type, the user selects a row from the list and clicks Modify228. This launches the Service Details screen218 with the details of the selected type on which the key fields are not editable. The user modifies the required details and clicks OK226. To delete a service type, the user selects the desired type from the list and clicks Delete230, and theService Details screen218 is launched. The user clicks on theOK button226, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of a service type, the user double clicks the desired row or selects the desired service type from the list and clicksView232/presses Enter.

FIG. 23 is a sample Fund Managers List screen andFIG. 24 is a sample Fund Manager Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Fund Manager Profile. This option allows the user to maintain details of fund managers. The entire operation is divided into the FundManagers List screen234 and a FundManager Details screen236. The user can view the entire list of fund managers, in the FundManagers List screen234 in a tabular form. For a search criteria specified by the user for fund manager Id and/or parent fund manager Id the FundManagers List screen234 shows records which satisfy the search criteria. The details of a particular fund manager can be seen in the FundManager Details screen236. The user can view a list of services available to a fund manager by selecting the fund manager record and clicking the Services button238. The user can map the import file information with the database information corresponding to the service by selecting the fund manager record and clicking theMap button240. There are no pre-requisites to view, add/modify, or delete a fund manager, or to select a service, but to map a service, the service must be defined in the services maintenance. The FundManagers List screen234 lists available fund managers matching the fund manager Id and parent fund manager Id in the search criteria. The user can add new fund managers, modify, view and delete existing fund managers.

Referring toFIGS. 23 and 24, to search for fund managers, the user enters the first few characters of the fund manager Id and/or parent fund manager Id of the fund manager for which the user is looking and clicksSearch242. The list will display only those fund managers whose first few characters match the characters entered. The user clicksClear244 to revert to the entire list of fund managers. To add a new fund manager, the user selects a row from the list and clicksAdd246. This launches the FundManager Details screen236, the key fields of which are blank. If the fund manager has a parent fund manager, a Parent Fund Manager Combo box is enabled; otherwise it is disabled. The user enters the required details and clicks OK248 or selects a blank row from the list by clickingClear244 and clicks Add246. This launches the FundManager Details screen236, and the user enters the required details and clicks OK248.

Referring further toFIGS. 23 and 24, to modify a fund manager, the user selects a row from the list and clicks Modify250. This launches the FundManager Details screen236 with the details of the selected fund manager, and the user modifies the required details and clicks OK248. To delete a fund manager, the user selects the desired fund manager from the list and clicks Delete252. The FundManager Details screen236 is launched, and the user clicks on theOK button248. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of a fund manager, the user double-clicks the desired row or selects the desired fund manager from the list and clicksView254/presses Enter. To specify services for a fund manager, the user clicks the fund manager from the list and clicks the Services button238, and a Fund Manager Service-List screen is shown. To map the fund manager's services, the user clicks the fund manager from the list, clicks the Map button, and a Fund Manager Map-List All screen is shown. When the user clicks OK248, the screen closes after saving fund manager details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close256 after making modifications, he or she is given choices to click Yes to exit after saving, to click No to exit without saving, or to click Cancel to maintain the status quo.

FIG. 258 is a sample Fund Manager Service—List screen andFIG. 260 is a sample Fund Manager Service Details screen for an embodiment of the present invention. To invoke this option from the Administration menu the user clicks Fund Manager Profile, selects a fund manager record from thelist screen234, and clicks Services238. This option allows the user to maintain various services for all fund managers. The entire operation is divided into the Fund Manager Service—List screen258 and the Fund ManagerService Details screen260. The user can view the entire list of services for a fund manager in the Fund Manager Service—List screen258 in a tabular form. The details of services can be seen in the Fund ManagerService Details screen260. As a pre-requisite, the services must be defined in the services maintenance before they can be mapped to fund managers. The Fund Manager Service—List screen258 lists available services for a selected fund manager. The system administrator can add new services, modify, view and delete existing services.

Referring toFIGS. 25 and 26, to add a new service, the user selects a row from the list and clicksAdd262. This launches the Fund ManagerService Details screen260 on which the key fields are blank except for the service type Id, file format and table name, which have to be chosen from a specified list. The user enters the required details and clicks OK264 or selects a blank row from the list by clickingClear266 and clicks Add262. This launches the Fund ManagerService Details screen260, and the user enters the required details and clicks OK264. To modify a service, the user selects a row from the list and clicks Modify268. This launches the Fund ManagerService Details screen260 with the details of the selected service, and the user modifies the required details and clicks OK264.

Referring further toFIGS. 25 and 26, to delete a service, the user selects the desired service from the list and clicks Delete270. The Fund ManagerService Details screen260 is launched, and the user clicks on theOK button264. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of a service, the user double clicks the desired row or selects the desired service from the list and clicksView272/presses Enter. When the user clicks OK264, the screen closes after saving service details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close274 after making modifications, he or she is offered choices to click Yes to exit after saving, to click No to exit without saving, and to click Cancel to maintain the status quo.

FIG. 27 is a sample Fund Manager Map—List screen andFIG. 28 is a sample Fund Manager Map Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Fund Manager Profile, Selects a fund manager record, and clicks Map. This option allows the user to maintain information about import files for service information. The entire operation is divided into the Fund Manager Map—List Allscreen276 and the Fund ManagerMap Details screen278. The user can view the entire list of fund manager map information for a fund manager Id in the Fund Manager Map—List All screen276 in a tabular form. The details of services for a particular service can be seen in the Fund ManagerMap Details screen278. As a pre-requisite, details of services for fund manager(s) must be entered through fund manager services maintenance. The Fund Manager Map—List All screen276 lists available map information records for the system administrator's fund manager Id. The user can add new map information or modify, view and delete existing information.

Referring further toFIGS. 27 and 28, to add a new map information, the user selects a row from the list and clicksAdd280. This launches the Fund ManagerMap Details screen278, the key fields of which are blank except for theTable Name282,Primary Field Name284,Secondary Field Name286 andCARS Field Name288, which have to be chosen from a specified list. The user enters the required details and clicks OK290 or selects a blank row from the list by clickingClear292 and clicks Add280, which launches the Fund ManagerMap Details screen278. The list boxes will contain values allocated to the user, and he or she enters the required details and clicks OK290. To modify a map information, the user selects a row from the list and clicks Modify294. This launches the Fund ManagerMap Details screen278 with the details of the selected map information. The user modifies the required details and clicks OK290.

Referring again toFIGS. 27 and 28, to delete a map information, the user selects the desired map information from the list and clicks Delete296 and the Fund ManagerMap Details screen278 is launched. The user clicks on theOK button290, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of a map information, the user double clicks the desired row or selects the desired map information from the list and clicksView298/presses Enter. When the user clicks OK290, the screen closes after saving map information details. In the delete mode, the system administrator clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close300 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 29 is a sample Custodian List screen andFIG. 30 is a sample Custodian Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Custodian Bank. This option allows the user to maintain various custodians bank details. The entire operation is divided into theCustodian List screen302 and theCustodian Details screen304. The user can view the entire list of custodians in theCustodian List screen302 in a tabular form. The details of a particular custodian can be seen in theCustodian Details screen304. There are no pre-requisites for adding a new custodian. However, for deleting an existing custodian, it is necessary to delete all the entries in maintenance tables for the custodian to be deleted, including accounts maintenance, custodian contacts maintenance, custodian positions maintenance, custodian services maintenance, custodian transactions maintenance, match group level maintenance, and fund manager custodian mapping maintenance. The Custodian—List All screen302 lists the available custodians. The user can add a new custodian or modify, view or delete an existing custodian.

Referring toFIGS. 29 and 30, to search on custodian, the system administrator enters one or more leftmost characters in the Custodian Id field306 and/or Custodian Name field308 andclicks Search310. This displays the custodians that match the entry, and the system administrator clicksClear312 to revert to the entire list. To add a new custodian, the user selects a record from the list and clicksAdd314. This launches theCustodian Details screen304 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK316 or selects a blank record from the list by clickingClear312 and clicks Add314. This launches theCustodian Details screen304 with all entry fields blank, and the user enters the required details and clicks OK316. To modify an existing custodian, the user selects a record from the list and clicks Modify318. This launches theCustodian Details screen304 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK316.

Referring further toFIGS. 29 and 30, to delete a custodian, the user selects the desired custodian from the list and clicks Delete320. TheCustodian Details screen304 is launched, and the user clicks on the OK button316. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing custodian, the user double clicks the desired record or selects the desired custodian from the list and clicksView322/presses Enter. To go to a Custodian Contacts screen, a Custodian-Map screen, or a Custodian-Services screen for a particular custodian, the user selects a custodian from the list and clicks on theContacts324,Map326, orServices328 button. This launches the desired screen for that particular custodian. When the user clicks OK316, the screen closes after saving custodian details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close330 after making modifications, he or she is offered choices to click Yes to exit after saving, to click No to exit without saving, or to click Cancel to maintain status quo.

FIG. 31 is a sample Contacts List screen andFIG. 32 is a sample Contacts Details screen for an embodiment of the present invention. To invoke this option from the Administration menu the user clicks Custodian Bank, selects a custodian bank record, and clicksContacts324. This option allows the user to maintain various contacts for a particular custodian. The entire operation is divided into theContacts List screen332 and theContacts Details screen334. The user can view the entire list of contacts in theContacts List screen332 in a tabular form. The details of a particular contact can be seen in theContacts Details screen334. It is a pre-requisite for adding a new contact that a custodian profile be created before creating the new contact, because the contact is created for a particular custodian. There are no pre-requisites for deleting an existing contact. The Contacts—List All screen332 lists the available contact. The user can add new contacts or modify, view or delete existing contacts.

Referring toFIGS. 332 and 334, to add a new contact, the user selects a record from the list and clicksAdd336. This launches theContacts Details screen334 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK338 or selects a blank record from the list by clickingClear340 and clicks Add336. This launches theContacts Details screen334 with all entry fields blank, and the user enters the required details and clicks OK338. To modify an existing contact, the user selects a record from the list and clicks Modify342. This launches theContacts Details screen334 with the details of the selected record, the key fields of which are not editable. The user modifies the required details and clicks OK338.

Referring further toFIGS. 31 and 32, to delete a contact, the user selects the desired contact from the list and clicks Delete344. The Contacts Detailsscreen334 is launched, and the user clicks on theOK button338. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing contact, the user double clicks the desired record or selects the desired contact from the list and clicksView346/presses Enter. When the user clicks OK338, the screen closes after saving contact details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close348 after making modifications, he or she is offered choices to click Yes to exit after saving, to click No to exit without saving, or to click Cancel to maintain the status quo.

FIG. 33 is a sample Custodian Services List screen andFIG. 34 is sample Custodian Services Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Custodian Bank, selects a custodian bank record, and clicksServices328. This option allows the user to maintain various services for a custodian. The entire operation is divided into the CustodianServices List screen350 and the CustodianServices Details screen352. The user can view the entire list of custodian services in the CustodianServices List screen350 in a tabular form. The details of a particular service can be seen in the CustodianServices Details screen352. As a pre-requisite for adding a new service, in order to specify the services for a particular custodian, the related custodian record must have been entered through custodian maintenance. As a pre-requisite for deleting an existing service, before deleting any service, any import map set for the custodian for that service Id must be deleted. The Custodian Services—List screen350 lists the available services for a particular custodian. The user can add new services and modify, view and delete existing services.

Referring toFIGS. 33 and 34, to add a new service, the user selects a record from the list and clicksAdd354. This launches the CustodianServices Details screen352 with the details of the selected record, the key fields of which are blank. The user enters the required details and clicks OK356 or selects a blank record from the list by clickingClear358 and clicks Add354. This launches the CustodianServices Details screen352 with all entry fields blank, and the user enters the required details and clicks OK356. To modify an existing service, the user selects a record from the list and clicks Modify360. This launches the CustodianServices Details screen352 with the details of the selected record, on which the key fields are not editable. The user modifies the required details and clicks OK356.

Referring further toFIGS. 33 and 34, to delete a service, the user selects the desired service from the list and clicks Delete362. The CustodianServices Details screen352 is launched, and the user clicks on theOK button356. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing service, the user double clicks the desired record or selects the desired service from the list and clicksView364/presses Enter. When the user clicks OK356, the screen closes after saving details of a custodian service. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close366 after making modifications, he or she is offered choices to click Yes to exit after saving, to click No to exit without saving, or to click Cancel to maintain the status quo.

FIG. 35 is a sample Custodian Mapping List screen andFIG. 36 is a sample Custodian Mapping Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Custodian Bank, selects a custodian bank record, and clicksMap326. This option allows the user to maintain custodian file import mapping details. The entire operation is divided into the CustodianMapping List screen368 and the CustodianMapping Details screen370. The user can view the entire list of custodian import mappings in the CustodianMapping List screen368 in a tabular form. The details of a particular custodian import mapping can be seen in the CustodianMapping Details screen370. As a pre-requisite to add or modify a custodian import map, the combination of custodian Id and the service type Id for which the mapping is required must be entered through the custodian services maintenance. In custodian services the service import table name and the import file format must be defined for the selected service type Id. There are no pre-requisites to delete a custodian import map.

Referring toFIGS. 35 and 36, to add a new custodian import mapping, the user selects a record from the list and clicksAdd372. This launches the CustodianMapping Details screen370 with the details of the selected record, on which the key fields are blank. The user enters the required details and clicks OK374 or selects a blank record from the list by clickingClear376 and clicks Add372. This launches the CustodianMapping Details screen370 with all entry fields blank, and the user enters the required details and clicks OK374. To modify a custodian import mapping, the user selects a record from the list and clicks Modify378. This launches the CustodianMappings Details screen370 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK374.

Referring further toFIGS. 35 and 36, to delete a custodian import mapping, the user selects the desired custodian import mapping from the list and clicks Delete380. The CustodianMapping Details screen370 is launched, and the user clicks on theOK button374. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing custodian import mapping, the user double clicks the desired record or selects the desired custodian import mapping from the list and clicksView382/presses Enter. When the user clicks OK374, the screen closes after saving custodian import mapping details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close384 after making modifications, he or she is offered choices to click Yes to exit after saving, to click No to exit without saving, or to click Cancel to maintain the status quo.

FIG. 37 is a sample Scheduler Setup screen andFIG. 38 is a sample Times screen for an embodiment of the present invention. To invoke this option from the Setup menu, the user clicks Scheduler. This setup enables the user to view or set scheduler options for import, match, import and match, and archive. As pre-requisites, services should be set up for fund managers before scheduler setup can be done. Also, import-setup, match-group-levels and match-group-elements creation should be completed before any activity of importing, archiving, or matching starts. TheScheduler Setup screen386 has three dropdown lists for selection. For a user belonging to a fund manager, the fund manager Id is displayed in a Fund Manager Iddropdown list388. For a customer services user, all fund manager Ids are displayed, of which one can be selected. A Service Type IDdropdown list390 is for selecting a service type Id, and an Actiondropdown list392 is for selecting an action from theavailable Action list392, such as import, match, import and match, or archive. The current scheduler setup for a particular combination of fund manager Id, service type Id and action are displayed on the screen. If no options have been set for a particular combination, default options are displayed and a Created Byfield394 displays New Record. The screen is refreshed each time the combination changes.

Referring toFIGS. 37 and 38, the user selects the Mode396 as one of Automatic398, Scheduled400 or Manual402. ForAction392 as match or import and match, and services like transactions and/or holdings, which are relevant for the matching process, the user selects the Match Option404 as one of New data only406, Unmatched data only408, or All data410. Service Level selections412 includeDaily414,Weekly416,Monthly418, orSpecific420. A scheduler setup is effective if theStatus422 is Enabled424. If it is Disabled426, the scheduler setup is ineffective. When the user clicks Save428, currently displayed options are saved for that particular combination of fund manager Id, service type Id and action. When the user clicks Close430, if no changes have been made, theScheduler Setup form386 closes. If any selections have been changed, such as fund manager Id, service type Id, or action, the user is offered choices to click Yes to save changes, to click No to proceed without saving changes, or to click Cancel to maintain the status quo. When the user clicks Now432, the selected action is invoked when the Now button432 is clicked. The Now button432 is enabled only when the Mode396 is Manual402 for a particular action. When the user clicks the Times button434, theTimes form436 is launched. The Times button434 is enabled only when the Mode396 is Scheduled400. When theform436 is loaded, the currently set times (or 12:00 am as default, if no times are set) are displayed in thelistbox438 on the right side of the screen.

Referring further toFIGS. 37 and 38, theTimes form436 allows various times to be set for an action for the Scheduled mode400. When theTimes form436 is loaded, the currently set times (or 12:00 am as default, if not times are set) are displayed in thelistbox438 on the right side of the screen. To set up schedule times, the user fills the number of minutes he or she wants as the time interval in theTime Interval textbox444 and clicks on Fill Times446. Thecombo box448 on the left side of the screen is filled with the times starting from 12:00 am and with the interval as indicated in thetextbox444. The default time interval is 30 minutes. The user selects the time he or she wants and clicks onAdd450 to add times to thelist box438 on the right. To delete any times, the user selects the time from thelist box438 on the right and clicks on Delete452 and clicks on OK454 to save the schedules. When the user clicks on OK454, the displayed times are marked for saving, theTimes form436 is closed, and theScheduler Setup form386 is displayed. When the user clicks Close430, if no modifications have been made, theScheduler Setup screen386 is closed. If modifications have been made, the user is given choices to click Yes to exit after marking changes for saving or to click No to exit without saving or to click Cancel to maintain the status quo.

A Fund Manager Setup aspect of an embodiment of the present invention involves menu options that are accessed by each fund manager to setup data before import and reconciliation of data can be done including, for example, Clients, Accounts, User-Client Mapping, Account Type, Match Groups, Match Group Elements, Match Group Levels, Fund Manager-Security Mapping, Manager Unmatched Display Setup, Bank Unmatched Display Setup, and Matched Display Setup.FIG. 39 is a sample Clients List screen andFIG. 40 is a sample Client Details screen for an embodiment of the present invention. To invoke this option from the Administration menu the user clicks Client and Account. This option allows the user to maintain various clients specific to his or her fund manager Id and accounts corresponding to the client Id. The entire operation is divided into theClients List screen456 and the Client Details screen458. The user can view the entire list of clients in theClients List screen456 in a tabular form that matches his or her fund manager Id and the search criteria corresponding to the client name and client Id given by the user. The details of a particular client can be seen in the Client Details screen458. As a pre-requisites to view a client, the user can create clients that correspond to his or her fund manager Id only. As a pre-requisite to add/modify a client, the user can create clients that correspond to his or her fund manager Id only. As a pre-requisite to delete a client, the user can create clients that correspond to his or her fund manager Id only. TheClients List screen456 lists available clients corresponding to the user's fund manager Id and matching the client Id and client name in the search criteria. The user can add new clients or modify, view and delete existing clients only if they correspond to his or her fund manager Id. The user can view the profiles of those accounts that belong to his or her client Ids.

Referring toFIGS. 39 and 40, to search for clients, the user enters the first few characters of theClient Id460 and/orClient Name462 of the client he or she is looking for andclicks Search464. The list will display only those clients whose first few characters match the characters entered and corresponding to the user's fund manager Id, depending on whether he or she is a manager or not. The user clicksClear466 to revert to the entire list of clients that correspond to his or her fund manager Id. To add a new client, the user can add a client that corresponds to his or her fund manager Id. The user selects a row from the list and clicksAdd468. This launches the Client Details screen458 the key fields of which are blank. The user enters the required details and clicks OK470 or selects a blank row from the list by clickingClear466 and clicks Add468. This launches the Client Details screen458 with all entry fields blank except theCustodian Id field472. The list boxes will contain values allocated to the user, and he or she enters the required details and clicks OK470. The user can modify all clients that correspond to his or her fund manager Id. To modify a client, the user selects a row from the list and clicks Modify474. This launches the Client Details screen458 with the details of the selected client on which only the client name is editable. The user modifies the required details and clicks OK470.

Referring further toFIGS. 39 and 40, to delete a client, the user can delete only those clients that correspond to his or her fund manager Id. The user selects the desired client from the list and clicks Delete476, and the Client Details screen458 is launched. The user clicks on theOK button470 and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of a client, the user double clicks the desired row or selects the desired client from the list and clicksView478/presses Enter. To maintain accounts of a client, the user selects a client and clicks A/c Profile480. When the user clicks OK470, the screen closes after saving client details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close482 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 41 is a sample Accounts List screen andFIG. 42 is a sample Account Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Client and Account, selects a client, and clicks A/c Profile. This option allows the user to maintain various accounts. The entire operation is divided into theAccounts List screen484 and theAccount Details screen486. The user can view the entire list of accounts inAccounts List screen484 in a tabular form only if the user is also a user manager. If not, the user is allowed to view only those accounts allocated to him or her. The details of a particular account can be seen in theAccount Details screen486. To create an account, custodian Ids, client Ids, account type Ids and user Ids corresponding to a particular fund manager must have been defined. To add or delete an account, the user must be a manager. If the user is not a manager, he or she can delete only those accounts allocated to him or her. TheAccounts List screen484 lists available accounts depending on whether the user is a manager or not. If the user is a manager, he or she can add new accounts or modify, view and delete existing accounts. If the user is not a manager, he or she can only view and modify those accounts that have been allocated to him or her.

Referring further toFIGS. 41 and 42, to search for accounts, the user enters the first few characters of the secondary account Id and/or primary account Id of the account he or she is looking for andclicks Search488. The user can enter the secondary account Id only after entering the primary account Ids. Secondary Account ID can accept positive numbers not exceeding four. The list displays only those accounts whose first few characters match the characters entered depending on whether the user is a manager or not. The user clicksClear490 to revert to the entire list for which he or she has permissions. The user must be a manager to add an account. The user selects a row from the list and clicksAdd492. This launches the Account Details screen486 with the details of the selected account and with the key fields blank. The user enters the required details and clicks OK494 or selects a blank row from the list by clickingClear490 and clicks Add492. This launches the Account Details screen486 with all entry fields blank and with the list boxes containing values allocated to the user. The user enters the required details and clicks OK494.

Referring further toFIGS. 41 and 42, if the user is a manager he or she can modify all accounts. If not, however, the user is permitted to modify only those accounts for which he or she has the permissions. The user selects a row from the list and clicks Modify496. This launches the Account Details screen486 with the details of the selected account on which the key fields are not editable. The user modifies the required details and clicks OK494. To delete an account, the user must be a manager. To delete the account, the user selects the desired account from the list and clicks Delete498. The Account Details screen486 is launched, and the user clicks on theOK button494. A message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an account, the user double clicks the desired row or selects the desired account from the list and clicksView500/presses Enter. When the user clicks OK494, the screen closes after saving account details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close502 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 43 is a sample Client Mapping screen for an embodiment of the present invention. To invoke this option from Administration menu the user clicks User Client Mapping.User Client Mapping504 allows a user to assign clients to users. The user can map a client to a particular user. One or more clients can be assigned to a user. One client can be assigned to more than one user. As pre-requisites, the fund manager must be defined through the fund manager maintenance, the custodian bank Id must be defined through the custodian maintenance, the client Id must be defined through the client maintenance, and the user Id must be defined through the user maintenance. To map client to user, the user selects the user Id to which the clients are to be mapped from Settings forUser ID506. If the user wants to copy clients mapped to another user, he or she selects the user Id whose client mappings are to be copied. The clients available and not mapped will be shown in the ClientAvailable list508, and the clients mapped will be shown in the Client Mappedlist510. The user adds or removes required client mapping and clicks Save512 to save the details.

Referring toFIG. 43, theAdd button514 is enabled only when one or more records from the Client Available508 are selected. On the click of theAdd button514, the selected records are moved from the ClientAvailable list508 to the corresponding Client Mappedlist510. A record can be selected by clicking on the record in the Client Mappedlist510. More than one record can be selected at a time by pressing Shift key and clicking simultaneously. TheRemove button516 is enabled only when one or more records from the Client Mappedlist510 are selected. On the click of this button the selected records are moved from a Client Selected list to the corresponding ClientAvailable list508. A record can be selected by clicking on the record in the ClientAvailable list508. More than one record can be selected at a time by pressing Shift key and clicking simultaneously. Clicking the Save button saves client user map details. Clicking theClose button518 closes the screen, and if any changes have been made to the data, the user is prompted to save the data before closing the screen. TheClear button520 clears all the data from the screen and allows the user to select another user Id.

FIG. 44 is a sample Account Type List screen andFIG. 45 is a sample Account Type Details screen for an embodiment of the present invention. To invoke this option from Administration menu, the user clicks Account Type. This option allows the user to maintain various account types. The entire operation is divided into the AccountType List screen522 and the Account Type Details screen524. The user can view the entire list of account types in the AccountType List screen522 in a tabular form. The details of a particular account type can be seen in the Account Type Details screen524. There are no pre-requisites for adding a new account type, but for deleting an existing account type, it is necessary to delete all the entries in the account maintenance and match results view for the account type to be deleted. The AccountType List screen522 lists the available account types. The user can add a new account type or modify, view or delete an existing account type.

Referring toFIGS. 44 and 45, to search on account types, the user enters one or more leftmost characters in the AccountType Id field525 andclicks Search526. This displays the account types that match the entry, and the user clicksClear528 to revert to the entire list. To add a new account type, the user selects a record from the list and clicks Add530. This launches the Account Type Details screen524 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK532 or selects a blank record from the list by clickingClear528 and clicks Add530. This launches the Account Type Details screen524 with all entry fields blank, and the user enters the required details and clicks OK532. To modify an existing account type, the user selects a record from the list and clicks Modify534. This launches the Account Type Details screen524 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK532.

Referring further toFIGS. 44 and 45, to delete a account type, the user selects the desired account type from the list and clicks Delete536, and the Account Type Details screen524 is launched. The user clicks on theOK button532, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing account type, the user double clicks the desired record or selects the desired account type from the list and clicksView538/presses Enter. When the user clicks OK532, the screen closes after saving account type details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close540 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 46 is a sample Match Group List screen andFIG. 47 is a sample Match Group Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Match Groups. This option will allows the user to maintain various match groups. The entire operation is divided into the MatchGroup List screen542 and the MatchGroup Details screen544. The user can view the entire list of match groups in MatchGroup List screen542 in a tabular form. The details of a particular match group can be seen in the MatchGroup Details screen544. As pre-requisites, the fund manager must be defined through the fund manager maintenance, and the service type Id must be defined through the service maintenance. The MatchGroup List screen542 lists the available match groups. The user can add new match groups or modify, view and delete existing match groups. The user can define the match group elements and match group levels for a match group.

Referring toFIGS. 46 and 47, to search on match groups, the user enters one or more characters in the MatchGroup ID field546 or MatchGroup Name field548 andclicks Search550. This displays the match group that satisfies the entry, and the user clicksClear552 to revert to the entire list. To add a new match group, the user selects a record from the list and clicksAdd554. This launches the Match Group Details screen544 with the details of the selected record and the key fields blank. The user enters the required details and clicks OK556 or selects a blank record from the list by clickingClear552 and clicks Add554. This launches the Match Group Details screen544 with all entry fields blank. The user enters the required details and clicks OK556. To modify an existing match group, the user selects a record from the list and clicks Modify558. This will launches the Match Group Details screen544 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK556.

Referring further toFIGS. 46 and 47, to delete a match group, the user selects the desired match group from the list and clicks Delete560, and the Match Group Details screen544 is launched. The user clicks on theOK button556, and a message box Delete Details? is displayed. The user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing match group, the user double clicks the desired record or selects the desired match group from the list and clicksView562/presses Enter.

Referring again toFIGS. 46 and 47, the user can specify match group elements details, such as match field for fund manager, match field for custodian bank and the like, for a particular match group. To maintain match group elements, the user selects the desired match group from the list and clicksElements564. The user can also specify match group level details, such as match group level number, security type Id and the like, for a particular match group. To maintain match group levels, the user selects the desired match group from the list andclicks Levels566. When the user clicks OK556 on the MatchGroup Details screen544, the screen closes after saving match group details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close568 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 48 is a sample Match Group Element List screen andFIG. 49 is a sample Match Group Element Details screen for an embodiment of the present invention. To invoke this option from the Administration menu, the user clicks Match Groups. The user selects a match group and clicksElements564. This option allows the user to maintain various match group elements. The entire operation is divided into the Match GroupElement List screen570 and the Match GroupElement Details screen572. The user can view the entire list of match group elements in the Match GroupElement List screen570 in a tabular form. The details of a particular match group element can be seen in the Match GroupElement Details screen572. As pre-requisites, The fund manager has to be defined through the fund manager maintenance, the custodian bank Id has to be defined through the custodian maintenance, the service type Id has to be defined through the service maintenance, and the match group Id has to be defined through the match group maintenance. The Match GroupElement List screen570 lists the available match group elements. The user can add new match group elements or modify, view and delete existing match group elements.

Referring toFIGS. 48 and 49, to add a new match group element, the user selects a record from the list and clicksAdd574. This launches the Match GroupElement Details screen572 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK576 or selects a blank record from the list by clickingClear578 and clicks Add574. This launches the Match GroupElement Details screen572 with all entry fields blank. The user enters the required details and clicks OK576. To modify an existing match group element, the user selects a record from the list and clicks Modify580. This launches the Match GroupElement Details screen572 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK576.

Referring further toFIGS. 48 and 49, to delete a match group element, the user selects the desired match group element from the list and clicks Delete582. The Match GroupElement Details screen572 will be launched, and the user clicks on the OK button576. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing match group element, the user double clicks the desired record or selects the desired match group element from the list and clicksView584/presses Enter. When the user clicks OK576 on the Match GroupElement Details screen572, the screen closes after saving match group element details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close586 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

Referring toFIGS. 50 and 51, to add a new match group level, the user selects a record from the list and clicksAdd592. This launches the Match GroupLevel Details screen590 with the details of the selected record on which the key fields are blank. The user enters the required details and clicks OK594 or selects a blank record from the list by clickingClear596 and clicks Add592. This launches the Match GroupLevel Details screen590 with all entry fields blank, and the user enters the required details and clicks OK594. To modify an existing match group level, the user selects a record from the list and clicks Modify598. This launches the Match GroupLevel Details screen590 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK594.

Referring further toFIGS. 50 and 51, to delete a match group level, the user selects the desired match group level from the list and clicks Delete600. The Match GroupLevel Details screen590 is launched, and the user clicks on theOK button594. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing match group level, the user double clicks the desired record or selects the desired match group level from the list and clicksView602/presses Enter. When the user clicks OK594, the Match GroupLevel Details screen590 closes after saving match group level details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close604 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

Referring toFIGS. 52 and 53, to add a new fund manager security mapping, the user selects a record from the list and clicksAdd608. This launches the Fund Manager SecurityMapping Details screen606 with the details of the selected record and the key fields blank. The user enters the required details and clicks OK610 or selects a blank record from the list by clickingClear612 and clicks Add608. This launches the Fund Manager SecurityMap Details screen606 with all entry fields blank. The user enters the required details and clicks OK610. To modify an existing fund manager security map, the user selects a record from the list and clicks Modify614. This launches Fund Manager SecurityMapping Details screen606 with the details of the selected record on which the key fields are not editable. The user modifies the required details and clicks OK610.

Referring further toFIGS. 52 and 53, to delete a fund manager security map, the user selects the desired fund manager security map from the list and clicks Delete616. The Fund Manager SecurityMap Details screen606 is launched, and the user clicks on theOK button610. A message box Delete Details? is displayed, and the user clicks Yes to confirm the deletion or clicks No if he or she has changed his or her mind. To view details of an existing fund manager security map, the user double clicks the desired record or selects the desired fund manager security map from the list and clicksView618/presses Enter. When the user clicks OK610 on the Fund Manager SecurityMapping Details screen606, the screen closes after saving fund manager security map details. In the delete mode, the user clicks Yes to confirm the deletion; otherwise he or she clicks No. When the user clicks Close620 after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

FIG. 54 is a sample Manager Unmatched Display Setup screen for an embodiment of the present invention. To invoke this option from the Setup menu, the user clicks Manager Unmatched Display. This option allows the user to select the fields to be displayed in the UnMatched Result View for Fund Manager. The order of display of these fields can also be specified through the Fund Manager UnMatchedDisplay Setup screen622 in a tabular form. As pre-requisites, the fund manager must be defined through the fund manager maintenance, the service type Id must be defined through the service maintenance, the output field names must be defined through the fund manager import map maintenance. The Manager UnMatchedDisplay Setup screen622 lists the available fields. The user can select or deselect and also order the selected fields.

Referring toFIG. 54, to select a service type Id, the user selects a service type Id from the Service TypeID combo box624. This displays the available/selected fields for the selected service type Id. To select a field, the user selects a record from theAvailable Fields list626 and clicks Add628. This shifts the selected field to the SelectedFields List630, and the user clicksSave632. To deselect a field, the user selects a record from the SelectedFields list630 and clicks Remove634. This shifts the selected field to theAvailable Fields list626, and the user clicksSave632.

An embodiment of the present invention also includes a Custodian Unmatched Display Setup screen. To invoke this option from the Setup menu, the user clicks Bank Unmatched Display. This option allows the user to set up the fields he or she wants to view in the Custodian Unmatched Display screen. The user can set up the display characteristics in the Custodian Unmatched Display Setup screen. As pre-requisites, the custodian import mapping for the custodian Id and service type Id combination must be completed before the fields for display can be set up. Only those fields that have been mapped can be set up for display. The Custodian Unmatched Display Setup screen lists the available fields in a left listbox. A right listbox lists the selected fields for display. The user can add or remove the fields for display. The user can also define the order in which the fields are displayed. To get the current display setup for a custodian Id and service type Id, the user selects the desired custodian Id and then selects the service type Id for which the display setup is required. To add a new field for display, the user selects one or more records from a Fields Available listbox and clicks Add. The records shift to a Fields Selected listbox, and the user clicks OK.

To remove a field from display, the user selects one or more records from the Selected Fields listbox and clicks Remove. The records shift to the Fields Available listbox, and the user clicks OK. To set the field display order for the selected fields, the user selects the record from the Fields Selected listbox whose order needs to be changed, clicks an Up or Down arrow of a Spin Control to bring it to the required position, and clicks OK. When the user clicks OK, the changes are saved. The user can change the selection of custodian Id and service type Id and set up the display for a new combination of custodian Id and service type Id. When the user clicks Clear after making modifications, he or she is offered choices to click Yes to save the changes, and the entry fields are cleared or to click No to clear the entry fields without saving any changes or to click Cancel to maintain the status quo. When the user clicks Close after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

An embodiment of the present invention also includes a Matched Display Setup screen. To invoke this option from the Setup menu, the user clicks Matched Display. This option allows the user to set up the fields he or she wants to view in a Matched Results screen. The user can set up the display characteristics in the Matched Display Setup screen. As pre-requisites, the fund manager-service type Id combination must be set up before the fields for display for a service, such as holdings or transactions can be set up. The user selects a service type Id for which he or she wants to set up the display of matched records. For every field that the user selects from the fund manager side, a corresponding field must also be selected from the custodian bank side. The available fields for fund manager and the custodian bank are displayed in a left list box. A right list box lists the selected fields for display. The user can add or remove the fields for display. The user can also define the order in which he or she wants the fields to be displayed. To get the current display setup for a service type Id, the user selects the service type Id for which the display setup is to be required.

Referring to the Match Display Setup screen for an embodiment of the present invention, to add a new field for display, the user selects one record each for the fund manager and the custodian bank side from the Fields Available list box and clicks Add. The selected records shift to the Fields Selected listbox. The fields selected from the fund manager and custodian bank side must be of the same datatype, such as a string for a string, a number for a number, or a date for a date. If the fields selected are not of the same datatype, an error message is displayed saying that unrelated fields cannot be selected. The user must select account type Id before he or she can save the record, and the user clicks Save to save the setting. To remove a field from display, the user selects one record from the Selected Fields listbox and clicks Remove. The records shift to the Fields Available list box, and the user clicks Save to save the setting.

Referring again to the Match Display Setup screen, to set the field display order for the selected fields, the user selects the record from the Fields Selected listbox whose order needs to be changed, clicks the Up or Down arrow of the Spin Control to bring it to the required position, and clicks Save to save the setting. When the user clicks Save, the changes are saved. The user can change the selection of service type Id and set up the display for a new service type. When the user clicks Clear after making modifications, he or she is offered choices to click Yes to save the changes and the entry fields are cleared or to click No to clear the entry fields without saving any changes or to click Cancel to maintain the status quo. When the user clicks Close after making modifications, he or she is offered choices to click Yes to exit after saving or to click No to exit without saving or to click Cancel to maintain the status quo.

A Processing aspect of an embodiment of the present invention involves, for example, Scheduling, Importing Data, Matching and Archiving functionality. The application for an embodiment of the present invention has a scheduler which runs continuously in the background and checks for batch processes that need to be performed according to the scheduler setup previously discussed herein with reference toFIGS. 37 and 38. The actions, such as import, match, import and match, and archival that are set up with scheduled or automatic mode through the scheduler setup are scheduled for processing at the appropriate times by the scheduler. For actions to be performed in automatic mode, the scheduler ensures that the setup actions are performed every n minutes where n is the schedule time system parameter. This system parameter can be changed through the System Parameter option in the Administration menu by the user. For actions to be performed in the scheduled mode, the scheduler ensures that the setup actions are performed according to the scheduled times setup through the scheduler setup.

The Import Data process for an embodiment of the present invention looks for appropriate data files for fund manager and custodian bank in the import directory defined in the fund manager import mapping and custodian bank import mapping respectively. If a file is available, it is imported. After the file is successfully imported, the file is transferred to the archive directory as defined in the import mapping information. The application for an embodiment of the present invention provides for import of data, for example, by automatic mode, scheduled mode, and/or manual mode. If the mode in scheduler setup is automatic for import, the scheduler invokes the import process automatically for the fund manager and service type combinations, such as transactions or holdings. If the mode in scheduler setup is scheduled for import, the scheduler invokes the import process at the scheduled times for the fund manager and service type combination, such as transactions or holdings. If the mode in scheduler setup is manual for import, the import process has to be manually invoked for the fund manager and service type combination, such as transactions or holdings, by clicking Now.

The Matching process for an embodiment of the present invention runs a match on imported data based on the match option set in the scheduler setup for the action match or import and match. The match option can have values, such as unmatched data, new data, and all data. If the unmatched data match option is set, the match process considers only those records which have been processed but are unmatched, i.e., their match status is unmatched. In addition, if an unmatched record is approved or locked, it will not be considered by the match process. If the new data match option is set, the match process considers only those records which have been newly imported. In this case, processed and unmatched records are not considered for matching. If the all data match option is set, the match process will consider all records, such as newly imported, matched or unmatched, for matching provided they are not approved or locked.

The Matching process of the application for an embodiment of the present invention provides for matching of data, for example, by an automatic mode, a scheduled mode and a manual mode. If the mode in scheduler setup is automatic for match, the scheduler invokes the match process automatically for the fund manager and transactions or holdings service type combination. If the mode in scheduler setup is scheduled for match, the scheduler invokes the match process at the scheduled times for the fund manager and transactions or holdings service type combination. If the mode in scheduler setup is manual for match, the match process has to be manually invoked for the fund manager and transactions or holdings service type combination by clicking Now.

The Archival process of the application for an embodiment of the present invention, provides archival, for example, through the automatic mode. The scheduler setup for each fund manager and one service must be set up for this. The archival process is then invoked by the scheduler for each fund manager for all services that involve reconciliation, such as transactions and holdings. Once imported, the number of days after which the records for a fund manager are archived depends on the value set for retain period in database for the fund manager in fund manager maintenance. If this value is set, for example, to 25, a record imported on 1 Jan. 2000 will be archived on 26 Jan. 2000. For manual archival, through the Match Results Summary screen (Main Menu->View->Match Results->Current Data), the user can select one or more records and click Archive. This will archive the records that form the summary record(s) selected. Through the Match Results Summary screen (Main Menu->View->Match Results->Archive Data), the user can select one or more records and click Unarchive. This unarchives the records that form the summary record(s) selected.

A Match Results aspect of an embodiment of the present invention provides procedure to view match results and perform various actions on the sets of data. The Match Results aspect involves, for example, functionality for Matched Summary Display, Matched Details Display, and Unmatched Details Display.FIG. 55 is a sample Matched Results Summary screen for an embodiment of the present invention. To invoke the Matched Summary Display option from the View menu, the user clicks Match Results→Current Data or Archive Data. The MatchedResults Summary screen636 displays the matched summary of holdings or transactions for a particular fund manager, client, and value date combination. As a pre-requisite, matching activity should process the records (holdings or transactions) at least once, i.e., records should have the value of their RecordStatus field set to “P” (Processed).

Referring toFIG. 55, on selecting the Matched Summary Display option from the menu, the MatchedResults Summary Screen636 is displayed. The user selects a date range for viewing the matched results summary. Below it a Fund Managerdropdown listbox638 is displayed. A seconddropdown listbox640 showing a list of available Services is displayed next to the FundManager list box638. If the user is parent fund manager, theFund Manager listbox638 is populated with a list of all fund managers under the parent fund manager. However, if the user belongs to a child fund manager, then theFund Manager listbox638 is disabled and the fund manager Id of the user is displayed. Valid actions on this screen include, for example, Delete642,Lock644, Unlock646,Match648,Unmatch650, Approve652,Unapprove654,Archive656,Unarchive658,Print660, Sort, and Exit. When the menu option chosen is Current Data, all the above actions exceptUnarchive658 are available. When the menu option chosen isArchive656, the actions available areUnarchive658,Print660, Sort, and Exit.

Referring further toFIG. 55, theDelete action642 permits the user to delete selected record(s) from the matched results summary grid. The user selects a record by clicking on the first fixed column to the left of the grid. This highlights the entire summary record. On clicking the Delete button642 a dialog box with check boxes is displayed. The user checks on either a Fund Manager and/or a Custodian check box. On clicking an OK button, the corresponding records are deleted. If the Fund Manager check box is selected then the fund manager's records are deleted. If the Custodian check box is selected, then the custodian records are selected. If both Fund Manager and Custodian check boxes are selected then the corresponding records for both the fund manager and the custodian are deleted.

Referring again toFIG. 55, theLock action644 permits the user to lock selected record(s) from the matched results summary grid. The user selects a record by clicking on the first fixed column to the left of the grid. This highlights the entire summary record. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theLock button644, all the underlying records, both for the fund manager and the custodian, are locked. Once locked, no further changes are permitted, unless the record(s) are unlocked. However, theDelete action642 is permitted on locked records. TheUnlock action646 permits the user to unlock selected record(s) from the matched results summary grid. The user selects a record by clicking on the first fixed column to the left of the grid. This highlights the entire summary record. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theUnlock button646, all the underlying records, both for the fund manager and the custodian, are unlocked.

Referring again toFIG. 55, theManual Match action648 permits the user to execute a forced match on selected summary record(s). The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theMatch button648, all the underlying records, both for the fund manager and the custodian, are marked as matched. TheManual Unmatch action646 permits the user to execute a forced unmatch on selected summary record(s). The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theUnmatch button650, all the underlying records, both for the fund manager and the custodian, are marked as unmatched.

Referring once again toFIG. 55, the Manual Approve652 action permits the user to approve selected summary record(s). The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records will be highlighted. On clicking the Approvebutton652, all the underlying records, both for the fund manager and the custodian, are marked as approved. Once approved, no further changes are permitted unless the record(s) are unapproved. TheManual Unapprove action654 permits the user to unapprove selected summary record(s). The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theUnapprove button654, all the underlying records, both for the fund manager and the custodian, are marked as unapproved.

Referring once more toFIG. 55, theManual Archive action656 permits the user to archive selected summary record(s). Archived records are removed from the live or current tables and copied on to the corresponding archive tables. The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theArchive button656, all the underlying records, both for the fund manager and the custodian, are removed from the live or current tables and copied to the corresponding archive tables. TheManual Unarchive action658 permits the user to unarchive previously archived record(s). This option is enabled only when the data is retrieved from the archived database. The user selects a record by clicking on the first fixed column to the left of the grid. To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records are highlighted. On clicking theUnarchive button658, all the underlying records, both for the fund manager and the custodian, are removed from the archive tables and copied to the corresponding live or current tables. The View Details action permits the user to display the values of all the fields in the original record.

Referring again toFIG. 55, thePrint action660 permits the user to print selected records from the grid. The user selects a record by clicking on the first fixed column to the left of the grid (on the gray area). To select multiple records, the user holds the mouse key down on the first fixed column to the left of the grid and drags it vertically. As the user scrolls down, the corresponding summary records will be highlighted. On clicking thePrint button660, the selected records are printed to the default printer. The Exit action permits the user to exit from the MatchedDisplay Summary screen636.

FIGS. 56 and 57 are sample Matched Details Display screens662,664 for an embodiment of the present invention. To invoke the Matched Details Display option from the View menu, the user clicks Match Results Current Data, selects a summary record, and double clicks or presses Enter. The Matched

Details Display screen

662,664 displays the matched details (holdings or transactions) for a particular fund manager, client, and value date combination. The screen is invoked from the MatchedResults Summary screen636. The user highlights and selects a summary record, and on double clicking or pressing the Enter key, all the underlying records for thesummary screen636 are displayed. As pre-requisites, matched results view for the fund manager should be set up and matching activity should process the records (holdings or transactions) at least once, i.e., the records should have the value of their RecordStatus field set to “P” (Processed).

Referring toFIGS. 56 and 57, on selecting a summary record, the detailed matched results for the fund manager-service combination for the date range selected in the summary screen is displayed. Valid actions on this screen include, for example,Comments666,Unmatch668,View Details670,Print672, andExit676. All automatically matched records have a pre-defined matched comment attached to them. TheComments action666 permits users to manually add or edit the contents of this matched comment. In case of manually matched records, the matched comments field is blank. The user can also enter a matched comment for all such manually matched records. As soon as the matched comment is saved, all records with the same matched reference number are tagged with the same matched comment.

Referring toFIGS. 56 and 57, on performing theUnmatch action668, records previously matched, automatically, or manually are marked as unmatched. All such unmatched records are taken up for matching when the matching process is subsequently executed. In order to unmatch a set of matched records it is mandatory to select all records with the same match reference number. Locked and/or approved records are not available for manual unmatch. The View Detailsaction670 permits the user to display a dump of the values of the fields in the original record. Changes to the original record are not permitted on this screen. ThePrint action672 permits the user to print selected records from the grid. TheExit action676 permits the user to exit from the Matched Results

Details display screen

662,664.

FIGS. 58 and 59 are sample Unmatched Details Display screens for an embodiment of the present invention. To invoke the Unmatched Details Display option from the View menu, the user clicks Match Results Current Data, selects a summary record, and double clicks or presses Enter. The Unmatched Details Display

screen

678,680 displays the unmatched details (holdings or transactions) for a particular fund manager, client, and value date combination. The screen is invoked from the MatchedResults Summary screen636. The user highlights and selects a summary record. On double clicking or pressing the Enter key, all the underlying records for theSummary screen636 are displayed, and all unmatched records are displayed in a separate window. As pre-requisites, matched results view for the fund manager should be setup, unmatched results view for the fund manager and the custodian bank should be setup, and matching activity should process the records (holdings or transactions) at least once, i.e., records should have the value of their RecordStatus field set to “P” (Processed).

Referring toFIGS. 58 and 59, on selecting a summary record, two screens are displayed; namely the Detailed Matched

results

662,664 for the fund manager-service combination for the date range, and the Detailed Unmatched fund manager and

custodian screen

678,680. Valid actions on this screen include, for example,Match682,CB Comments684, FM Comments686,View Details688,Print690,Help692, andExit694. TheMatch option682 is used to manually match all unmatched records that have failed to match during the automatic matching process. On performing this action the selected record(s) is marked as “matched”. In order to match a set of unmatched records, it is mandatory to select records from both the fund manager's side and the custodian's side. Locked and/or approved records are not available for manual match.

Referring further toFIGS. 58 and 59, theCB Comments option684 is used to attach manual comments to unmatched custodian bank record(s). In order to attach a comment to the custodian bank record(s), the user selects a custodian record and clicks on theCB Comments button684. The user enters the comments in the Comments dialog box and clicks on the OK button to save the comments to the custodian record. The FM Comments option686 is used to attach manual comments to unmatched fund manager record(s). In order to attach a comment to the fund manager record(s), the user selects a fund manager record and clicks on the FM Comments button686. The user enters the comments in the Comments dialog box and clicks on the OK button to save the comments to the fund manager record.

Referring again toFIGS. 58 and 59, theView Details action688 permits the user to display a dump of the values of the fields in the original record. Changes to the original record are not permitted on this screen. ThePrint action690 permits the user to print selected records from the grid. On pressing theHelp button692, a help screen is displayed with a brief note on the unmatched fund manager details grid, unmatched custodian bank details, and the actions performed by the various action buttons. TheExit action694 permits the user to exit from the Matched Results

Details display screen

678,680.

A Query aspect of an embodiment of the present invention involves, for example, Audit Log Query and Activity Log Query functionality.FIG. 60 is a sample AuditLog Query screen696 for an embodiment of the present invention. To invoke the audit log query option from the Query menu, the user clicks Audit Log. An audit log is maintained by the system application for each change made to the master data. That is, details of any data added, deleted or modified is logged. The Audit Log Query allows the user to query the log based on options, such as user name, table name and all. The AuditLog Query screen696 is invoked from the Audit Log sub-menu of the Query menu on the application. When the screen opens, an All option is shown selected and all the records are displayed. The user can now decide to select any one of the other Filter Byoptions698.

Referring toFIG. 60, selecting the Filter ByUser Name700 enables the user name filter clause. The other filter clauses remain disabled. The user can then select the user name from the User Name dropdown listbox702 for whom he or she wants to query the audit log. Clicking theView button704 displays the output. Selecting the Filter ByTable Name option706 enables the table name and the key code filter clauses. The user name clause is rendered disabled. The user can then select the table name from the drop-down for which he or she wants to query the audit log. The user can also type in part or the whole of the key code for the table selected to constrict the search criteria for the query. Clicking theView button704 displays the output. Clicking on a Filter By All option disables all the filter options and populates the Audit Details display708 with all the records. TheClear button710 enables the user to select a new Filter Byoption698. Clicking theClear button710 clears the Audit Details display708, deselects any prior Filter Byoptions698, disables theFilter option clauses712 and waits for the user to select a Filter Byoption698. The user can now select any of the Filter Byoptions698 and view the details. To exit from the screen, clicking theClose button714 closes the screen.

FIG. 61 is a sample Activity Log Query screen for an embodiment of the present invention. To invoke the Activity Log Query option from the Query menu, the user clicks Activity Log. An activity log is maintained by the system application for each change made to the master data. That is, details of any activities done on the records in the database. The Activity Log Query allows the user to query the log depending on the date range, the fund manager Id and the type of activity. The ActivityLog Query screen716 is invoked from the Activity Log sub-menu of the Query menu on the application. To select a date (either Period From718 or Period To720), the user clicks on the arrow in the

dropdown listbox

722,724 and a calendar is shown. The user chooses the desired month and/or year, as well as a date, because unless a date is selected, the calendar does not close. The date in the Period Frombox722 must not be later than the date in the Period Tobox724.

Referring toFIG. 61. if the user belongs to a fund manager, the Id for the particular fund manager is displayed in the FundManager Id box726. If the user is a system administrator or user, he or she can select one from the list of available fund managers displayed in the drop-downlist box726. Clicking on the Activity Typesdropdown listbox728 displays all the activity types that are entered for the various operations carried out on the database. Among all the options is an All clause which refers to all the activities. After selecting the criteria for display, clicking theView button730 displays the details based on the criteria selected. Other functionalities include, for example, print and sort functionalities. Clicking thePrint button732 prints the entire contents of the grid in a landscape mode. Clicking on any column heading for the grid sorts the contents of the grid on that column. To exit from the screen, clicking theClose button734 closes the screen.

A Reports aspect of an embodiment of the present invention includes functionality for reports, such as Account List by Client, Activity Log, Audit Log, Error Log, Percentage Matched by Custodian and Client, Matched Holdings by Client, Matched Transactions by Client, Unmatched Holdings by Client, and Unmatched Transactions by Client.FIGS. 62 and 63 are sample Accounts List by Client screens for an embodiment of the present invention. To invoke the Accounts List by Client option from the Reports menu, the user clicks Account List By Client. This option allows the user to report a list of accounts in order of client Ids. The Accounts List By

Client screen

736,738 displays a list of accounts for each client specific to the user's fund manager Id. The user may choose one or more of these client Ids.

Referring toFIGS. 62 and 63, the Accounts List by

Client screen

736,738 lists available client Ids specific to the user's fund manager Id. To select one or more client Ids, the user clicks on the client Ids in thelistbox740. To select all the client Ids, the user presses a Select All button. To unselect the client Ids, the user clicks theUnselect All button742 that appears in the place of the Select All button. For each client Id and name, the report displays thePrimary Account Id744,Account Type Id746,Account Name748,Custodian Id750, Custodian Name, BIC and Base Currency Sorted by Account. The user may save to a file, view or print the report.

Referring toFIGS. 62 and 63, to view the report, the user selects at least one client Id, selects theView option752, and clicks theReport button754. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one client Id, selects thePrint option756, and clicks theReport button754. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one client Id, selects theSave option758, and clicks theReport button754. The report saves records in they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Activity Log Report option from the Reports menu, the user clicks Activity Log.FIGS. 64 and 65 are sample Activity Log Report screens for an embodiment of the present invention. This option allows the user to report various activity logs for one or more activity type Ids and fund manager Ids for a specified date range. An activity log is maintained by the system application to track the initiation and completion and in-process status for a number of activities, such as import-automatic, import-manual, match-automatic, match-manual, unmatch-manual, delete-manual, approve-manual, unapprove-manual, lock-manual, unlock-manual, archive-automatic, archive-manual, and unarchive-manual. To select a date (either Period From760 or Period To762) the user clicks on an arrow in the dropdown box and a calendar is shown. The user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the dropdown box. The date in the Period Frombox760 must not be later than the date in the Period Tobox762.

Referring toFIGS. 64 and 65, the Activity

Log Report screen

756,758 lists available fund manager Ids and their names. To select one or more fund manager Ids, the user clicks on the fund manager Ids in thelist box764. To select all of the fund manager Ids, the user presses a Select All button. To unselect the fund manager Ids, the user clicks theUnselect All button766 that appears in the place of the Select All button. The Activity

Log Report screen

756,758 also lists all available activity types. To select one or more activity types, the user clicks on the Activity Types in thelist box768. To select all the activity types, the user presses a Select All button. To unselect the activity types, the user clicks theUnselect All button770 that appears in the place of the Select All button. The user can save to a file, view or print the report. The report displays the list of activity logs grouped by fund manager Ids and sorted by activity type Id and activity date and time.

Referring further toFIGS. 64 and 65, to view the report, the user selects at least one activity type and fund manager Id, selects theView option772, and clicks theReport button774. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one activity type and fund manager Id, selects the print option, and clicks theReport button774. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one activity type and fund manager Id, selects theSave option776, and clicks theReport button774. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

FIGS. 66 and 67 are sample Audit Log Report screens for an embodiment of the present invention. To invoke the Audit Log Report option from Reports menu, the user clicks Audit Log. This option allows the user report audit logs for a specified date range and one or more specified audit types. An audit log is maintained by the system application for each change made to the master data. That is, any data added, deleted or modified is logged. To specify a date range, the user selects a date (either Period From782 or Period To784) and clicks on the arrow in the drop down

box

782,784. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the drop down box. The date in the Period Frombox782 must not be later than the date in the Period Tobox784. The Audit

Log Report screen

778,780 lists all available audit types. To select one or more audit types, the user clicks on the Audit Types in thelistbox786. To select all the audit types, the user presses a Select All button. To unselect the audit types, the user clicks theUnselect All button788 that appears in the place of the Select All button. The user may save to a file, view, or print the report. The report displays the list of audit logs sorted by audit date and time.

Referring toFIGS. 66 and 67, to view the report, the user selects a date range, selects at least one audit type, selects theView option790, and clicks theReport button792. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects a date range, selects at least one audit type, selects thePrint option794, and clicks theReport button792. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects a date range, selects at least one audit type, selects the Save option796, and clicks theReport button792. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

FIGS. 68 and 69 are sample Error Log Report screens for an embodiment of the present invention. The Error Log Report option allows the user to report errors that are logged by the system application for a specified fund manager and date range. The errors are logged by the application whenever errors are encountered during any of the processes, such as reconciliation, import of data, archival and the like. To specify a date range, the user selects a date (either Period From802 or Period To804) and clicks on the arrow in the

dropdown box

802,804. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the drop down box. The date in the Period Frombox802 must not be later than the date in the Period To box894. The ErrorLog Report screen798,800, retrieves a list of fund manager Ids. The user may choose only one of these fund manager Ids by clicking the arrow in the drop down box enclosed in the frame namedFund Manager Ids806. The user may save to a file, view, or print the report. For the specified fund manager and date range, the report displays the error date, error severity, user Id and error description, sorted by error date and time.

Referring toFIGS. 68 and 69, to view the report, the user specifies a date range, selects at least one fund manager Id, selects the View option, and clicks theReport button808. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user specifies a date range, selects at least one fund manager Id, selects thePrint option810, and clicks theReport button808. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user specifies a date range, selects at least one fund manager Id, selects theSave option812, and clicks theReport button808. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Percentage Matched by Custodian and Client option from the Reports menu, the user clicks Percentage Matched By Custodian and Client.FIGS. 70 and 71 are sample Percentage Matched by Custodian and Client Report screens for an embodiment of the present invention. This option allows the user to report the percentage of matched records vis-à-vis the total number of records for fund manager as well as custodian bank for a specified service type, such as transactions or holdings and for a specified date range. To specify date range, the user selects a date (either Period From818 or Period To820) and clicks on the arrow in thedropdown box818,829. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the drop down box. The date in the Period Frombox818 must not be later than the date in the Period Tobox820. To select a service type, the Percentage Matched By Custodian and Client screen70,71 retrieves a list of service type Ids. The user may choose only one of these service type Ids by clicking the arrow in the drop down box enclosed in the frame namedService Type Ids822. The user may save to a file, view, or print the report. The report displays a list that is sorted by client within custodian bank. For each custodian and client, the report shows the total number of records for fund manager, the percentage matched records for fund manager, the total number of records for custodian bank, and the percentage matched records for custodian bank. The fund manager average and custodian bank average of percentage matched records is shown for each custodian bank.

Referring toFIGS. 70 and 71, to view the report, the user specifies a date range, selects a service type Id, selects theView option824, and clicks theReport button826. The report shows records if they exist on the screen; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user specifies date range, selects a service type Id, selects thePrint option828, and clicks theReport button826. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user specifies a date range, selects a service type Id, selects theSave option830, and clicks theReport button826. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Matched Holdings by Client Report option from the Reports menu, the user clicks Matched Holdings By Client.FIGS. 72 and 73 are sample Matched Holdings by Client Report screens for an embodiment of the present invention. This option allows you to report matched holdings for one or more client IDs for a specified date range. To specify a date range, the user selects a date (either Period From836 or Period To838) and clicks on the arrow in the

dropdown box

836,838. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the drop down box. The date in the Period Frombox836 must not be later than the date in the Period Tobox838. The Matched Holdings by

Client Report screen

832,834 lists available client Ids and their names. To select one or more client Ids, the user clicks on the Client Ids in thelistbox840. To select all of the client Ids, the user presses a Select All button. To unselect the client Ids, the user clicks theUnselect All button842 that appears in the place of the Select All button. The user may save to a file, view, or print the report. The report displays the list of matched holdings grouped by client Ids and sorted by value date, account Id and security Id. The records belonging to custodian banks are shown in gray background.

Referring toFIGS. 72 and 73, to view the report, the user selects at least one client Id, selects theView option844, and clicks theReport button846. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one client Id, selects the Print option848, and clicks theReport button846. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one client Id, selects theSave option850, and clicks theReport button846. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Matched Transactions by Client Report option from the Reports menu, the user clicks Matched Transactions By Client.FIGS. 74 and 75 are sample Matched Transactions by Client Report screens for an embodiment of the present invention. This option allows the user to report matched transactions for one or more client Ids for a specified date range. To specify a date range, the user selects a date (either Period From856 or Period To858) and clicks on the arrow in thedropdown box856,858. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the drop down box. The date in the Period Frombox856 must not be later than the date in the Period To box858. The screen lists available client Ids and their names. To select one or more client Ids, the user clicks on the client Ids in the list box. To select all of the client Ids, the user presses a Select All button. To unselect the client Ids, the user clicks theUnselect All button860 that appears in the place of the Select All button. The user may save to a file, view, or print the report. The report displays the list of matched transactions grouped by client Ids and sorted by statement date, transaction reference, primary account Id and primary security Id. The records belonging to custodian banks are shown in gray background.

Referring toFIGS. 74 and 75, to view the report, the user selects at least one client Id, selects the view option, and clicks theReport button862. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one client Id, selects the Print option864, and clicks theReport button862. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one client Id, selects theSave option866, and clicks theReport button862. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Unmatched Holdings by Client Report option from the Reports menu, the user clicks Unmatched Holdings by Client.FIGS. 76 and 77 are sample Unmatched Holdings by Client Report screens for an embodiment of the present invention. This option allows the user to report unmatched holdings for one or more client Ids for a specified date range. To specify a date range, the user selects a date (either Period From872 or Period To874) and clicks on the arrow in the

dropdown box

872,874. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the dropdown box. The date in the Period Frombox872 must not be later than the date in the Period Tobox874. The screen lists available client Ids and their names. To select one or more client Ids, the user clicks on the client Ids in the list box. To select all of the client Ids, the user presses a Select All button. To unselect the client Ids, the user clicks theUnselect All button876 that appears in the place of the Select All button. The user may save to a file, view, or print the report. The report displays the list of unmatched holdings grouped by client Ids and sorted by value date, account Id, and security Id. The user can specify for whom the report is to be generated, such as a fund manager, a custodian bank, or both. The records belonging to custodian banks are shown in gray background if the report is generated for both.

Referring toFIGS. 76 and 77, to view the report, the user selects at least one client Id, selects theView option878, and clicks theReport button880. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one client Id, selects thePrint option882, and clicks theReport button880. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one client Id, selects theSave option884, and clicks theReport button880. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

To invoke the Unmatched Transactions by Client Report option from the Reports menu, the user clicks Unmatched Transactions by Client.FIGS. 78 and 79 are sample Unmatched Transactions by Client Report screens for an embodiment of the present invention. This option allows the user to report unmatched transactions for one or more client Ids for a specified date range. To specify a date range, the user selects a date (either Period From900 or Period To902) and clicks on the arrow in the

dropdown box

900,902. A calendar is shown, and the user chooses the desired month and/or year, as well as a date, because unless a date is selected, the desired date is not shown in the dropdown box. The date in the Period Frombox900 must not be later than the date in the Period Tobox902. The screen lists available client Ids and their names. To select one or more client Ids, the user clicks on the client Ids in the list box. To select all the client Ids, the user presses a Select All button. To unselect the client Ids, the user clicks theUnselect All button904 that appears in the place of the Select All button. The user may save to a file, view, or print the report. The report displays the list of unmatched transactions grouped by client Ids and sorted by settlement date, transaction reference, account Id, and security Id. The user can specify for whom the report is to be generated, such as a fund manager, a custodian bank, or both. The records belonging to custodian banks are shown in gray background if the report is generated for both.

Referring toFIGS. 78 and 79, to view the report, the user selects at least one client Id and clicks theView button906. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To print the report, the user selects at least one client Id, selects thePrint option908, and clicks theReport button910. The report shows records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. To save the report, the user selects at least one client Id, selects theSave option912, and clicks theReport button910. The report saves records if they exist; otherwise a message stating that records for the specified parameters were not found is displayed. The user is prompted while trying to write over existing files.

System maintenance facilities for an embodiment of the present invention includes aspects, such as Data Archival, Scheduler Setup, and Backup and Purging, so as to sustain good performance. For example, the archival of transactions and holdings records of each fund manager depends on the number of days specified against Retain Period In Database in Fund Manager Profile. The number of records held in the database for transactions and holdings from fund manager and custodian depends on the value of this field. If it is, for example, 25 days, then once records for transactions and holdings are imported, they remain in the database for 25 days. In effect, data pertaining to 25 days will remain in database at any given time. This field is typically set up for only what is actually required, and after the requisite number of days, the records are automatically moved to the Archive tables. Having only the required number of records in the database help in better performance of the application, specifically the import and match processes.

With regard to Scheduler Setup for an embodiment of the present invention, the system parameter Schedule Time determines the time interval after which the scheduler initiates batch processes for import, match, import and match, and archival. This parameter is likewise typically set up as per actual requirements. If this parameter is set up to be too small, such as 5 minutes, then the system becomes overburdened with batch processes initiated every 5 minutes. Ideally, import and match processes should be set up with the scheduled mode, and these processes for different fund managers can be spaced out so as to reduce the burden on the system.

FIG. 79ais a sample Form Level Actions-User Group Mapping screen which details the ability of the embodying system to further detail access to the functions of an embodiment of the present invention at the Action914 level. This allows the most specific control of the invention within the user's organization. It lets users securely and specifically define roles and responsibilities within the user base at the firm. The user grants rights to Actions with a click on a specific action check box such asMatch916.

FIG. 80 is a sample Profile Setup screen for an embodiment, of the present invention. The system embodies the Profile Setup capabilities of the present invention inFIG. 80. The Profile Setup permits the user to specifically describe automated actions, Profile Type918 (Match, Import, Export) that the user wishes executed against whichServices920 information, and for which Custodian Bank's922

Clients

924 across an absolute orrelative Date Range926. The Profile can be stored byProfile Name928 and reused on an ad-hoc basis or through the Systems Scheduler illustrated inFIG. 37.

FIGS. 80a,80band81 are sample Aging Report screens which represent the systems manifestation of the Aging Report for an embodiment of the present invention.FIG. 81 lets the user specify the Custodian Bank's930

Clients

932 for whom to execute the report. Further, they can specify views of Fund Manager or Custodian Bank or Both934 sources records to the Screen, Printer orFile936. The user can select the relative dates and ranges in which the user wishes to show the data onFIG. 80b. The resulting report is represented byFIG. 81.

FIGS. 82 and 83 are sample Custodian Cash Report screens for an embodiment of the present invention. This feature of the invention provides a report to users of the Custodian Cash records as they are reported directly from the bank.FIG. 82 is the report request specification form. Users select theClients938 upon which to report, whether to report to the Screen, Printer orFile940, and then to show the summary balance records orDetail942.FIG. 83 is an example of the Detail Report.

Various preferred embodiments of the invention have been described in fulfillment of the various objects of the invention. It should be recognized that these embodiments are merely illustrative of the principles of the present invention. Numerous modifications and adaptations thereof will be readily apparent to those skilled in the art without departing from the spirit and scope of the present invention. Accordingly, the invention is only limited by the following claims.

Claims

1. A computer-implemented method for reconciliation of fund manager and custodian account records, comprising:

validating, formatting and uploading to a database first and second account records received from a fund manager and a custodian respectively;

allowing the fund manager and the custodian to predefine matching rules for the respective first and second account records independently of one another;

comparing the first and second account records by a computer application according to the predefined matching rules; and

identifying by the computer application at least one of matched and unmatched first and second account records.

2. The method ofclaim 1, wherein validating, formatting and uploading the first and second account records further comprises validating, formatting and uploading the first and second account records for one of a position and a transaction.

3. The method ofclaim 2, wherein validating, formatting and uploading the first and second account records for the position further comprises validating, formatting and uploading the first and second account records for one of a securities position and a cash position.

4. The method ofclaim 2, wherein validating, formatting and uploading the first and second account records for the transaction further comprises validating, formatting and uploading the first and second account records for one of a securities transaction and cash transaction.

5. The method ofclaim 1, wherein validating, formatting and uploading the first and second account records further comprises receiving the first and second account records electronically from the fund manager and custodian respectively.

6. The method ofclaim 5, wherein receiving the first and second account records electronically further comprises receiving the first account record electronically from an internal portfolio tracking system of the fund manager and receiving the second account record electronically from the custody network of the custodian

7. The method ofclaim 1, validating, formatting and uploading the first and second account records further comprises validating, formatting and uploading the first and second account records received from the fund manager and the custodian respectively according to a predefined schedule.

8. The method ofclaim 1, wherein allowing the fund manager and the custodian to predefine matching rules further comprises allowing the fund manager and the custodian to predefine available match groups for the respective first and second account records.

9. The method ofclaim 1, wherein allowing the fund manager and the custodian to predefine matching rules further comprises further comprises allowing the fund manager and the custodian to predefine matching criteria in terms of a tolerance in at least one of percentage terms and nominal terms.

10. The method ofclaim 1, wherein allowing the fund manager and the custodian to predefine matching rules further comprises allowing the fund manager and the custodian to predefine the matching rules in terms of levels of match success.

11. The method ofclaim 1, wherein identifying at least one of matched and unmatched first and second account records further comprises allowing a manual match of the unmatched account records on the database by either one of the fund manager and the custodian if unmatched account records are identified in the comparison.

12. The method ofclaim 11, wherein allowing a manual match of the unmatched account records further comprises generating a report of the comparison by the computer application identifying the unmatched account records accessible for display by the fund manager and the custodian if unmatched account records are identified in the comparison.

13. The method ofclaim 12, wherein generating a report of the comparison by the computer application further comprises displaying the unmatched first and second account records simultaneously for either one of the fund manager and the custodian on a consolidated screen if unmatched account records are identified in the comparison.

14. The method ofclaim 13, wherein displaying the unmatched first and second account records simultaneously further comprises prompting either one of the fund manager and the custodian for entry of the manual match.

15. The method ofclaim 11, wherein allowing a manual match of the unmatched account records further comprises identifying a reason for the manual match.

16. The method ofclaim 15, wherein identifying the reason for the manual match further comprises storing a record of the reason for the manual match.

17. The method ofclaim 16, wherein storing the record of the reason for the manual match further comprises allowing a retrieval of the record of the reason for the manual match.

18. A computer system for reconciliation of fund manager and custodian account records, comprising:

a database adapted for uploading validated and formatted first and second account records received from a fund manager and a custodian respectively; and

a computer application preprogrammed for comparing the first and second account records according to matching rules, which matching rules the fund manager and the custodian are allowed to predefine for the respective first and second account records independently of one another, and to identify at least one of matched and unmatched first and second account records.

19. A machine-readable medium on which is encoded program code for reconciliation of fund manager and custodian account records, the program code comprising instructions for: