In Rosselkhozbank the IT system of maintenance of transactions in financial markets is started

2019: Start of a system of maintenance of transactions in financial markets

On September 5, 2019 the R-Style Softlab company reported that in JSC Rosselkhozbank the project on creation of a system of maintenance of transactions in financial markets (SOFR) is complete. The solution developed by R-Style Softlab company provides operational support of the bargains concluded by bank in the share, urgent and currency markets in interbank lending market, conducting accounting and tax accounting and also preparation of the reporting, including according to requirements of IFRS.

Before operation, performed by Rosselkhozbank in financial markets, were followed and considered in four different accounting systems with different extent of automation. The implemented system provides automation of maintenance and accounting of all transaction types performed by Bank in financial markets.

Together with bank we managed to create a product, special for the market, which will allow bank to receive competitive IT solution, noted Rinat Karimov, the deputy CEO of R-Style Softlab

We wanted to receive the solution providing interaction with the system of the front office, the exchange (in online modes and offline), the SWIFT system, settlement center of Bank, the ledger, the system of remote banking of natural persons, depositaries, a repository of NSD and many other information systems. We needed the solution providing the maximum automation of work of a back office for the purpose of increase in processing speed of transactions at all stages of its lifecycle and minimization at the same time of different operational risks, told the associate director of Operations department JSC Rosselkhozbank Tatiana Novak

The SOFR system received in a project deliverable conforms to the specified requirements and also provides preparation of all types of the reporting and calculation of taxes both for own transactions of Bank, and for broker transactions. Feature of a system, significant for JSC Rosselkhozbank, is its centrality, i.e. a possibility of performing transactions of branches in the single database with simultaneous reflection in balance of head office.

Basis SOFRA is formed by two software packages — the automation system of transactions with securities of RS-Securities V.6 and the system of interbank lending RS-Dealing V.6. Especially for JSC Rosselkhozbank three modules were created: Repozitary, "Own bonds" and CSA. Also for the purpose of a possibility of preparation and sending a large number of messages via the SWIFT system and also through the transmission system of financial messages (TSFM) of the Bank of Russia the RS-Payments payment system is implemented. Preparation of all types of the reporting laid down on the software package RS-Reporting.