Possibilities and limitations of internal software

Inhaltsverzeichnis (Table of Contents)

• 1 INTRODUCTION
• 2 STRUCTURE AND DESCRIPTION OF ASSET MANAGEMENT
• 2.1 DEFINITION OF ASSET MANAGEMENT
• 2.2 BASIC LEGAL PRINCIPLES OF ASSET MANAGEMENT
• 2.3 KINDS OF ASSET MANAGEMENT
• 2.3.1 ASSET MANAGEMENT AS BUSINESS ACTIVITY CONDUCTED ON INSTRUCTION
• 2.3.2 TRUST MANAGEMENT
• 2.3.3 MANAGEMENT OF POWER
• 2.4 THE CONTRACT OF CONSULTING SERVICE
• 2.5 PRINCIPLES OF ADVICE DOING JUSTICE TO THE INVESTOR AND THE INVESTMENT
• 2.6 THE ASSET MANAGEMENT CONTRACT
• 2.6.1 FORM
• 2.6.2 CONTENTS OF THE CONTRACT
• 3 TASKS AND OBLIGATIONS OF THE ASSET MANAGER
• 3.1 PREPARATORY DUTIES OF INFORMATION
• 3.1.1 PRINCIPLES
• 3.1.2 CUSTOMER INFORMATION
• 3.1.2.1 Contents
• 3.1.2.2 Time of enquiry
• 3.1.2.3 Representation of the investor
• 3.1.3 DUTIES OF INFORMATION
• 3.1.3.1 General principles
• 3.1.3.2 Special types of investment
• 3.1.3.3 Moment of information
• 3.1.3.4 Special agreements between manager and customer
• 3.1.3.5 Classification of the customer profile
• 3.1.3.6 Basic legal principles of guidelines
• 3.2 MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE
• 3.2.1 BASIC PURPOSE
• 3.2.2 IMPACT ON FIRMS
• 3.2.3 IMPLEMENTATION TIMETABLE
• 3.2.4 ORGANISATIONAL REQUIREMENTS
• 3.2.5 CONDUCT OF BUSINESS
• 3.2.6 BEST EXECUTION
• 3.2.7 PASSPORTING RIGHTS
• 3.2.8 CLIENT CATEGORISATION
• 3.2.9 REGULATED MARKET AND MTF STANDARDS
• 3.2.10 PRE-TRADE EQUITY TRANSPARENCY
• 3.2.11 POST-TRADE EQUITY TRANSPARENCY
• 3.2.12 TRANSACTION REPORTING
• 4 GENERAL DESCRIPTION OF FINANZPORTFOLIOVERWALTUNG AND ITS REQUIREMENTS
• 4.1 CLASSIFICATION OF FINANZPORTFOLIOVERWALTUNG
• 4.2 THE IMPORTANCE OF THE MARKET MAKER SOFTWARE IN FINANZPORTFOLIOVERWALTUNG
• 4.3 GENERAL REQUIREMENTS
• 4.4 TYPICAL TASKS AND REQUIREMENTS
• 4.4.1 CUSTOMER CONTROLLING
• 4.4.2 EXECUTION OF SECURITY ORDERS
• 4.4.3 CONTROL OF EARNINGS
• 5 SPECIFICATION OF REQUIREMENTS AND DEFINITION OF THE CATALOGUE OF REQUIREMENTS
• 5.1 GENERAL INFORMATION ABOUT THE CATALOGUE OF REQUIREMENTS
• 5.2 REQUIREMENT CATALOGUE “CUSTOMER CONTROLLING”
• 5.2.1 SURVEY OF MANAGED INVESTMENT AND OF MANDATE
• 5.2.2 CHANGES OF THE VOLUME MANAGED AND THE MANDATES
• 5.2.3 SURVEY OF THE MANDATES MANAGED
• 5.3 REQUIREMENT CATALOGUE “TRANSACTION ORDER”
• 5.3.1 PURCHASE OF SECURITIES
• 5.3.1.1 Differentiation of kinds of purchase orders
• 5.3.1.2 Registration of purchase orders
• 5.3.1.3 Bank specific block orders for security purchase
• 5.3.2 SALE OF SECURITIES
• 5.3.2.1 Differentiation of types with sales orders
• 5.3.2.2 Registration of sales orders
• 5.3.2.3 Bank specific block orders for security sales
• 5.4 REQUIREMENT CATALOGUE “RETURN CONTROLLING”
• 5.4.1 CONTROL OF THE COMMISSIONS RECEIVED FROM BANKS IN TERMS OF CORRECTNESS AND COMPLETENESS
• 5.4.2 ALLOTMENT OF COMMISSION FOR CUSTOMERS AND ADVISOR
• 6 DESCRIPTION, LIMITATION AND EVALUATION OF INSTRUMENTS FOR THE DEVELOPMENT OF SOLUTIONS
• 6.1 INDIVIDUAL SOLUTION BY A SOFTWARE COMPANY
• 6.2 INDIVIDUAL SOLUTIONS BASED ON MARKET MAKER
• 6.3 SAP, ORACLE DATA BANKS AND SOLUTIONS OF BANKS
• 6.4 FLEXIBILITY VS. COST EFFECTIVENESS
• 6.5 CRYSTAL REPORTS WITH MM TALK AS EXTENSION OF MARKET MAKER
• 6.6 EXTERNAL SOLUTIONS AS EXTENSION FOR MM TALK AND ADDITIONAL SOURCES FOR CRYSTAL REPORTS
• 7 SOLUTIONS
• 7.1 COMBINATION OF POSSIBILITIES OF SOLUTIONS
• 7.2 CUSTOMER CONTROLLING
• 7.2.1 DATA GATHERING
• 7.2.2 REPORT MANDATE
• 7.2.3 REPORT CLASS SIZE
• 7.2.4 REPORT ASSET CLASSES
• 7.3 EXECUTION OF SECURITY ORDERS
• 7.3.1 INSTRUMENT AND BASIS OF DEVELOPMENT OF APPLICATIONS
• 7.3.2 ORIGIN OF CUSTOMER DATES
• 7.3.3 STRUCTURE OF THE APPLICATION
• 7.3.3.1 Log-In
• 7.3.3.2 Purchase of securities
• 7.3.3.3 Sale of securities
• 7.3.3.4 Survey of registered orders of an advisor
• 7.3.3.5 Administrative and trade functions
• 7.4 RETURN CONTROLLING
• 7.4.1 PROVISION OF COMPARABLE TURNOVERS FROM MARKET MAKER
• 7.4.2 COMPARISON OF BANK LISTS WITH THE TURNOVERS FROM MARKET MAKER
• 7.4.3 REPORTING FOR RETURNS BY ADVISORS AND CUSTOMERS
• 8 EVALUATION OF POSSIBILITIES AND LIMITATIONS OF THE SOLUTIONS
• 8.1 FUNDAMENTAL EVALUATIONS OF THE SOLUTIONS
• 8.2 COST-BENEFIT RELATIONSHIP
• 8.3 ADVANTAGES AND DISADVANTAGES OF THE SOLUTIONS
• 8.4 SUMMARY AND FINAL EVALUATION

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis aims to extend existing software solutions or even create a new application to ensure flawless compliance with the criteria for processing and controlling investment decisions in independent asset management. The application should simplify the creation of surveys and status reports. The requirements and results of the thesis are geared towards the needs of an asset manager and aim to be implemented in practice.

• Efficient and effective processing and control of investment decisions
• Development of software solutions to manage customer orders, returns, and general management
• Transparency and clear communication in asset management
• Comparison of different software solutions for asset management
• Evaluation of the cost-benefit relationship of different software solutions

Zusammenfassung der Kapitel (Chapter Summaries)

Chapter 2, "Structure and Description of Asset Management," provides a detailed overview of private and independent asset management, outlining its core principles, legal framework, and various types. It delves into the consulting service contract, its structure, and the importance of principles that ensure fairness to both investors and investments. Chapter 3 focuses on the tasks and obligations of an asset manager, emphasizing the crucial role of information provision, including the collection of customer information and the dissemination of relevant investment data. This chapter also explores the impact of the Markets in Financial Instruments Directive on asset management firms and their operational requirements. Chapter 4 provides a comprehensive overview of "Finanzportfolioverwaltung," including its classification, the vital importance of market maker software, and the general requirements and typical tasks involved. This chapter sets the stage for the subsequent analysis of software solutions. Chapter 5 delves into the specific requirements for software development, outlining the "Catalogue of Requirements" for different aspects of asset management, such as customer controlling, transaction orders, and return controlling.

Schlüsselwörter (Keywords)

This thesis focuses on the possibilities and limitations of internal software engineering and the implementation of applications in independent asset management. Key areas of focus include efficient investment decision processing, customer order management, return control, and software solutions for managing customer information and reporting requirements. The thesis also explores the use of market maker software, data banks, and Crystal Reports in the development of these solutions. Furthermore, it examines the impact of regulatory frameworks like the Markets in Financial Instruments Directive (MiFID) and the cost-benefit relationship of different software solutions.