Main news of the Sofia S63 release

Financial Instruments

Alternative Investments Funds

The module to manage Alternative Investments Funds has been improved and it’s now possible to describe with further detail the typical events of such instruments.

For further information: sofia.FIA@apl.it

Compliance

IFRS 9

The developments of standard functionality to support the application of Principio IFRS 9 are completed, which includes:

• the combined management of stage allocation and lot accounting for assets (fifo, average/fifo,average/pro-rata/proquota)

• a detailed representation of stratas in which the holdings and the related book values are structured;

• the infrastructure to manage the SPPI tests , which can be done within Sofia, including the benchmark test if required, or out of Sofia inserting the final result once calculated;

• the infrastructure to manage the risk model, which can be personalized according to each setting customer requirements; ;

• the infrastructure to calculate the ECL lifetime in view of forward looking (data structure for the PD and LGD curves);

• the impairment operations (whether consolidated or not, with the possibility to simulate the closings a/o to use the Book Date) for the ECL registration;

• the automatic management of the accrued OCI reserve depreciation for asset considered as share classified in the general ledger destination as fair value through profit and loss;

• the automatic calculation of profit and loss in case of debt restructuring (write off);

• the management of the accounting entries.

For further information: sofia.ifrs9@apl.it

Solvency II

Pillar I – SCR – The SCR module, in addition to the already available functions to calculate the capital required at a given valutation date ((Market Risk, standard formula, “What-if” a forward date)has been improved with new functionalities: it’s now possible to calculate the Market Risk including the loss-absorbing capacity of technical provisions. It has also been added the possibility to calculate it for the Life Risk.

For further information: sofia.scr@apl.it

User's Functions

New module “Fund Composition Import (TPT)”

The new module “Fund Composition Import” (TPT) is now available. With this module, it possible to import the composition of a fund using the Tripartite Template.

For further information: sofia.info@apl.it