The following diagrams present road maps for the web site. There are two major subdivisions of the site, the Corporate Pages and the Architecture.
| Architecture for
Transaction Management
| | The Architecture addresses best practices for
the design and development of application systems
for managing the entire universe of financial transactions:
buys and sells of securities,
collateralized and uncollateralized loans (e.g., repurchase
agreements), transaction maintenance, clearance and settlement,
accruals, and related functions.
The introductory page
presents the background, audience, and topics covered.
The Architecture is composed of the two components below, one
focused on the business applications and the other on the technical
infrastructure.
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| Functional Framework
| | The Functional Framework is the component of
the Architecture addressing the business processing directly. It
is logically divided into the three areas listed below. They can
be thought of as data, metadata, and processing.
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| Data Structures
| | The models and relationships which record financial transactions, events (e.g., corrections, settlement), and positions and balances.
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| Knowledge Base
| The Knowledge Base is the reference
data component of the Framework. There are two primary classes
of entities in the Knowledge Base.
- Standard static data such as securities,
accounts, and currencies.
- Metadata structures that direct and control the
processing within
the system: transactions, events, accruals, and the like.
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| Processing Rules
| | This component of the Framework discusses how the entries in the Knowledge Base metadata tables direct the processing of the transaction elements stored in the Data Structures. There are pages for the following functions:
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| Technical Foundation
| | The Architecture incorporates a technical
infrastructure and design approach that supports many of the
business goals of the Functional Framework. This component also
provides guidance to adapting and extending the Framework.
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The pages relating to the Architecture can be read in any order, but they also embody the hierarchical structure given in the road map. One approach to the material is to read the material top to bottom as given in the following list.
| Architecture for Transaction Management | The gateway to the discussion of the architecture for managing financial transactions. It presents the background, audience, and topics covered. |
| Functional Framework | The Functional Framework is the component of the Architecture addressing the business processing. It is composed of the three components listed below. |
| Data Structures | The models and relationships which record financial transactions, events, and positions and balances. |
| Knowledge Base | The Knowledge Base comprises the reference data component of the Framework, both static data and metadata.
|
| Processing Rules | Addresses how the entries in the Knowledge Base metadata tables direct the processing of the transaction elements stored in the Data Structures. |
| Transaction Operations | This component addresses how transactions, cancellations, and corrections, settlement, and other operations are implemented. |
| Positions and Balances | Covers the structure of the positions and balances, updates, data bases, trader positions, and the stock record. |
| Inventory and Trading P&L | This components discusses the model for inventory and trading P&L and how they're implemented. |
| Dividends and Interest | Introduces the handling of dividends and coupon interest within the Functional Framework. |
| Dividends | The various components of dividend accounting and cash distribution management.
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| Coupon Interest | Coupon interest accrual and payment are treated analogously to Dividends.
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| Day Count Conventions | Standard day count conventions.
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| Bond Pricing in the Market | How bonds are valued in the market, and how coupon interest and the day count convention interact with price.
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| Technical Foundation | This page is the gateway to technical design and infrastructure topics. |
| Temporal Independence | The property of a system's transaction-based data that all days are treated on an equal basis at all times. |
| Adapting the Framework | Guide to adapting elements of the Framework to existing systems. |
| Extending the Framework | Guide to extending elements of the Framework within the Architecture in order to handle new situations. |