RS-FinMarkets

Main article: Automated Banking Systems (ABS)

2023: Digital Financial Asset Opportunity

R-Style Softlab on February 14, 2023 announced that additional types of financial instruments have appeared in the RS-FinMarkets system - digital financial assets (CFA). In addition, banks will be able to work with utilitarian digital rights, which, using a digital certificate, confirm the subject's right to supply goods, provide services or intangible products.

It is possible to carry out inventory operations, that is, recording changes in the balance of securities in the depository. Subsequent updates will add a section of the securities report (Form 0409711) in terms of digital financial assets, tax accounting and CFA transactions.

Launching interaction with digital assets is a function in demand by the market. The emergence of additional financial instruments requires participants in the banking and brokerage markets to prepare infrastructure for interaction with new assets, - Rinat Karimov, Managing Director for Banking Products at R-Style Softlab, commented on the launch of the presented functionality. - The possibility of working with the CFA will provide banks with additional opportunities both in terms of placing their own CFAs and in terms of conducting trading operations in the interests of the credit institution.

2021

Nationality for working with the service of the Moscow Exchange

R-Style Softlab on September 2, 2021 announced the development of the RS-FinMarkets system. The updated version of the system has functionality, thanks to which banks can use the Moscow Exchange service - "Unified Collateral Pool" and save money on attracting liquidity.

R-Style Softlab changed in RS-FinMarkets the exchange import and accounting scheme for settlements of banks with the Moscow Exchange on its own and client operations, finalized the procedure for calculating limits. Updating the system will allow financial institutions to avoid additional costs when working on the stock exchange, as well as when serving customers engaged in margin trading.

{{quote 'R-Style Softlab promptly responds to changing requests and challenges of financial market participants in terms of process automation, - saidRinat Karimov, Deputy General Director, Director of Banking Department, ON RS-Bank R-Style Softlab. - The RS-FinMarkets system allows you to automate work with the "Unified Collateral Pool" both by customer and by the bank's own position. }}

Improvements in terms of calculating personal income tax on securities transactions

On March 2, 2021, R-Style Softlab announced that it had completed improvements in the RS-FinMarkets system in terms of calculating personal income tax on securities transactions. Now banks - users of the RS-FinMarkets: Personal Income Tax solution have access to functionality that takes into account the requirements of the Federal Law of 31.03.2020 No. 102-FZ "On Amendments to Parts One and Two of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation."

Thanks to the improvements, banks will fully comply with the requirements of the law.

When determining the tax base for calculating personal income tax from 01.01.2021, income received on circulating bonds of Russian organizations denominated in rubles and issued after January 1, 2017 is taken into account. (including income in the form of a discount received when such bonds are redeemed), as well as the amount of interest on state treasury obligations, bonds and other state securities of the former USSR, member states of the Union State and constituent entities of the Russian Federation, as well as on bonds and securities issued by decision of representative local government bodies.

"R-Style Softlab regularly monitors changes in legislation related to the RS-FinMarkets system in order to timely update its software products," said Rinat Karimov, Deputy General Director of R-Style Softlab, Director of the RS-Bank Banking Software Department. - Current improvements to the RS-FinMarkets: Personal Income Tax solution, which allows calculating, retaining and forming tax registers and certificates in the Federal Tax Service for personal income tax on brokerage operations of citizens, will allow banks to calculate personal income tax on operations with securities as efficiently as possible, in compliance with all requirements of the law. "

2020: RS-FinMarkets Presentation

On September 16, 2020, the company R-Style Softlab announced the appearance in its line of software complex products - RS-FinMarkets. The product is designed to automate operations bank in the stock, derivatives and foreign exchange markets, as well as in the interbank market crediting and is the result of the development of software systems and. RS-Securities RS-Dealing

RS-FinMarkets is built as a single system, but at the same time provides for the possibility of autonomous and flexible work in the context of each of the financial markets.

The complex for September 2020 includes 10 subsystems:

• "RS-FinMarkets: Securities Operations Back Office";
• "RS-FinMarkets: Own Bonds";
• "RS-FinMarkets: Depositary";
• "RS-FinMarkets: Term Transaction Financial Instruments and Conversion Transactions";
• "RS-FinMarkets: Posted Notes";
• "RS-FinMarkets: Bank Notes";
• RS-FinMarkets: Repository;
• "RS-FinMarkets: personal income tax";
• "RS-FinMarkets: ARNU for Bank Profit";
• "RS-FinMarkets: Interbank Loans and Deposits."

This product is based on controlled end-to-end processing of business processes.

The system covers the entire transaction processing cycle - from receiving it from external or front office systems to making postings, sending payments and issuing reports. Control steps such as double entry, confirmation generation and acknowledgement, payment acknowledgement, etc., may be included in the processing process if desired by the user.

The integration capabilities of RS-FinMarkets allow you to process over 200 integration flows when interacting with the front office, exchange, SWIFT system, banking ABS and other information systems.

The distribution of the system contains over 300 reporting forms for all types of accounting, including accounting, internal and tax, as well as a large number of summary reports and decryptions for the formation of reports of the Central Bank. Support has been implemented for all ways to conclude transactions and exchange confirmations, including SWIFT, TELEX, SPFS.

The RS-FinMarkets system is positioned by the company as a "smart" solution, since it almost completely automates the work of a back office specialist for supporting exchange and over-the-counter operations in financial markets, leaving it only the functions of monitoring and incident management.

For the company's clients who are users of RS-Securities V.6 and RS-Dealing V.6 systems, the transition to the RS-FinMarkets software package will be carried out as part of a standard update to the next patch. The rules for licensing software for automating transactions in financial markets will not change either. Further development of RS-Securities V.6 and RS-Dealing V.6 is not expected.

As of September 16, 2020, the RS-FinMarkets product is undergoing registration in the Register of Russian Software.