Product Description

Below is a description of Limina AB’s product "Limina IMS" and its modules, last updated 28th September 2023.

Modules forming part of Limina IMS might be partly or wholly delivered through subcontractors such as C3 Post Trade or Qontigo.

General Features

• All modules have cross-asset support, however, not every Client may have purchased access to all available asset classes or instrument types.
• Included in all modules is a visualization tool called Dashboard, which provides widgets that can be customized by the user to display summary data views and visualisations.
• Granular and customisable permission controls via roles and user permissions
• Several applications support export to one or more of the following formats: CSV, Excel, PDF.
• Available on any device that supports modern web browsers.

1. Order management solution (OMS)

Limina IMS’s Order Management System (OMS) provides advanced functionality for creating and managing orders. By connecting to brokers and execution platforms over FIX protocol, the OMS can provide a full STP flow of orders and fills that seamlessly links with the Compliance and PMS modules of Limina IMS.

Feature highlights:

• Integrations via FIX with 3rd party Execution Management Systems and brokers via FIX network (NYFIX). **
• Seamless pre-trade compliance checks
• Advanced order quantity calculation methods (e.g. target % AUM)
• Pro-rate allocation to automatically distribute a parent order across multiple fund allocations
• Multi-legged strategy orders for futures & options
• Custom order fields framework
• Order parameters rules framework
• Create orders from uploaded file
• Configurable support for four-eye approval workflows
• Flexible rebalancing solution to rebalance in/outflows or re-allocating (changing weightings in) the portfolio
• Support for routing order lists

2. Portfolio management solution (PMS)

Limina IMS’s Portfolio Management System (PMS) provides an Investment Book of Records (IBOR) including a full record of transactions, positions, cash and lifecycle events. It also includes a reconciliation tool that can be used to reconcile the data in Limina IMS with Prime Brokers, Custodians and Fund Administrators.

Feature highlights:

• Real-time P&L including breakdown of components (realised vs unrealised, fees, FX) as well as periods (year to date, month to date, daily)
• P&L contribution analysis (mark-to-market, FX, accruals, fees, financing, coupons, dividends) per any hierarchy (position, strategy, sector, region)
• Cash Manager for tracking all cash flows, including liquidity forecasts (Cash Ladder)
• Operations tools for lifecycle events processing with optional automation (fixings, expiries and exercises)
• Reconciliation framework for positions, cash and transactions***
• Fee rules framework for commission schemes and Swap/CFD financing
• Shadow NAV incl. support for share classes
• Revision history via audit log for sensitive data such as orders and transactions
• Security master (instruments and reference data) that can be created/modified by the client, and/or fed by supported third-party vendors (requires a separate contract between the Client and the market data provider). Currently, supported third-party vendors for instrument data are: Bloomberg
• Market data integrations via Bloomberg or Infront. (Requires separate contract between the Client and the market data provider; Limina only acts as a technical facilitator on behalf of the Client)
• Standardised trade reporting integrations for affirmation/matching or downstream reporting***
• Automatic import of cash records from external sources (e.g. custodians)***

3. Compliance management solution

Limina IMS’s Compliance Management Solution offers complex numerical limits support as well as qualitative limits such as trading restrictions (e.g. restriction lists), to be used both for pre-trade compliance checks, continuous intraday monitoring as well as scheduled limits monitoring.

Feature highlights:

• Blocking or warning rules
• Rules can be shared across multiple funds
• Highly customisable rules configurable framework for positions and cash (incl. forward-looking cash ladder checks)
• Template rules available for standard UCITS rules
• Approval workflow for breaches
• Notifications on breaches
• Audit log/archive of all historical limit checks
• Intraday and EOD checks run on schedule
• Pre-trade checks run seamlessly as part of the workflow in OMS and PMS
• Ability to run compliance checks per historical valuation dates

4. Real-time risk solution

Limina IMS’s Real-time risk solution supports risk numbers calculated implicitly from current market conditions, delivered in real-time if there is access to real-time data. Numbers are transparent and can be drilled down into via inspection functionality that allows the user to trace how and with what data a measure has been calculated.

Feature highlights:

• All figures can be pivoted in real-time on any custom aggregation (strategy, sector, currency etc.)
  Wide range of measures calculated* in real-time, including:
• Exposures (gross, net, FX, % of AUM, % contribution)
• Fixed income/credit risk (Duration, Yield measures)****
• Implied volatility and Option Greeks (Delta, Vega, Gamma, Rho)****
• Theoretical pricing****
• High-performance calculation framework
• Ability to plug in external valuation from third-party sources, e.g. premium for OTC FX Options from Bloomberg****

* Models may not be available for all asset classes supported by other modules

**Setup of integrations is not included by default and is handled as part of implementation projects

***Integrations are subject to a separate license fee

****Fed from market data provider (additional costs from third party provider may apply)