Within Figaro the following areas have been enhanced.

LCH Netting

Crest supports settlement netting with the London Clearing House (LCH). If a member account is opted into netting (within Crest), then all matching transactions are added to a net that is created on a daily basis. A new net is created for each combination of (among other matching criteria):

• Trade date
• Intended Settlement Date
• ISIN
• Member Account

Figaro detects these nets, reconciles them against known matched (gross) transactions, and then closes down those gross transactions. The net transactions settle as normal in Crest, at which point Figaro distributes the benefits to the underlying client. The LCH supports direct entry, whereby clients that use this service do not need to generate settlement instructions for transactions dealt over SETS – the LCH will directly enter these transactions into Crest at already-matched status. This represents a further cost saving based on the decreased messaging.

RSP Netting

A number of RSPs provide netting functionality. Each individual trade is not immediately sent to Crest for settlement. Instead, it is held back, and periodically, which can be daily, the RSP and Figaro determine the net position and create a single transaction in Crest to net the principal transactions. The net transactions settle as normal in Crest, at which point Figaro distribute the benefits.

This process is not limited to Crest – it also applies to foreign and residual stocks. Figaro determines the appropriate cash and stock recipients for the stock.

Netting reconciliation and maintenance

A new function has been added to Figaro, to allow users to monitor the reconciliation status of nets, determine the nature of inconsistencies between Figaro’s breakdown of a net transaction and the netting counterparty’s, and correct this discrepancy.

After reconciliation and net processing (when the gross transactions are closed down), this function allows users to monitor apportionment status of nets, to determine which of the underlying clients have received their benefits from the transactions.

Corporate actions

Corporate actions has been improved so that it caters for the consequences of a netted transaction that is transformed or subject to a claim.

Please get in touch with JHC today to find out how we can help your organisation through our market-leading, fully integrated asset and wealth management solutions.

We have exciting opportunities for experienced IT professionals and graduates to work as:

Trainee Analyst/Programmers in our London and Newcastle offices

Click here for further details.

Project Administrator in our Newcastle Office

Click here for further details.

Manual Test Analyst in our Birmingham Office

Click here for further details.

Our current courses are available for booking now and can be viewed by clicking on this course schedule link.

To view a full course description, please click on the course name.

Booking of any course can be made up to 3 working days before the scheduled date. Please refer to our training policy when booking.

If you would like to request a course to be made available in our monthly schedule, or if you have any questions please contact JHC Training;

email: jhctraining@jhc.co.uk

phone: 44 (0)20 7367 6532

To book any of the current courses, or to express an interest in any of the other courses email Jhctraining@jhc.co.uk or telephone: +44 (0) 20 7367 6500.

All course descriptions are available on the JHC website

Cheviot Asset Management won “Best Stockbroking Advisory Service” and Vestra Wealth LLP picked up the award for “Best New Company” having used FIGARO and JHC Consulting to assist in the setup of their organisation.

At the same event, which was attended by over 200 leading City figures, John Hemming MP, Chairman of JHC spoke on his unique career which combined business and politics.

Figaro Wealth Management Seminar

City of London Club, 19 Old Broad Street, EC2N 1DS

The world of wealth management has not gone untouched by the global banking upheaval. AUM’s have dropped; trading volume is down, and clients’ return on investment is negative. This is not the time to think about investing in a new system to support your business.

Or is it?

On the one hand the revenue line is being hit, but many systems have a fixed recurring cost which was struck when times were good.

This cost is affecting your profitability

The cost of supporting separate back office, trading, CRM, Web site, risk and Portfolio Management systems was acceptable in the boom times, but now the revenue is not coming in to justify the complexity and cost of a distributed solution.

FIGARO from JHC is the solution.

FIGARO is a fully integrated Front to Back Office solution for Wealth Management incorporating Back Office Custody and Settlement, Portfolio Management, CRM, Risk Management and Client Web. FIGARO has been used by clients both in house and outsourced for over 20 years. Figaro is based on a variable cost model so you are less exposed to the consequences of a reduction in revenue.

Please click FIGAROWealth 30 Sept to download the presentation from John Blackman.

AGENDA

10am Registration & Coffee

10.30am Introductions

10.45am “How satisfied are Wealth Managers?” The results of a Compeer survey into the attitudes of Wealth Managers to their current business infrastructure.

Mike Levy, Compeer

11.30 am FIGARO Wealth- Market leading functionality based on a fully integrated solution using a variable cost model.

John Blackman, Managing Partner, JHC

12 noon The Launch of a new Wealth Management Firm

Peter Brooker, Vestra Wealth

12.20 The answer is FIGARO, how would you like it delivered? – The outsourced solution.

Nigel Reynolds, OMX Securities Services.

12.50 Closing Comments

Steve D’Souza, Sales & Marketing FIGARO.

1.15 LUNCH

sales@jhc.co.uk

John Blackman receives Systems in the City Award from Ed Coates

At the prestigious Systems in the City 2009 event in front of Stockbrokers, Fund Managers and Investment Bankers on board HQS Wellington, Stephen Pinner, the Managing Director of Goodacre UK, announced this year’s winners of the Systems in the City Awards.

JHC’s Figaro was the winner of “Best Retail Settlement System”. Dr Ed Coats, the arctic explorer presented Managing Director, John Blackman with the award.

In addition, John Hemming MP was presented with a Lifetime Achievement Award. Mr Hemming founded John Hemming & Co, now JHC plc at the age of 23.

Stephen Pinner  ”All the winners are to be congratulated as is John Hemming who thoroughly deserves his Award for his long and successful career in supplying services to regulated investment businesses.

John Hemming receives his award at Systems in the City from Ed Coates

B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced the JHC system Figaro has successfully achieved MiFID benchmark tests organised by B.I.S.S. Research.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said “JHC are only the third software vendor to prove that their system has functionality that could be used to support business requirements emanating from MiFID.

The benchmarking process highlighted functionality areas where Figaro is strong in MiFID capability and also noted where further enhancements are currently being developed that will produce new exciting systems support for Figaro users in a post MiFID market.

The benchmarking report shows a potentially terrific future for Figaro in the growth areas of systems and business process outsourcing.

The benchmarking panel marked highly the integrated design of Figaro and its high watermark capability to produce real STP. The analyst noted that the Figaro design offers MiFID values by operating from a consolidated database enabling a top class reporting capability. The full report on Figaro and the benchmark tests is available from www.bissresearch.com. It is anticipated that further MiFID benchmarking announcements will follow in the near future”

JHC Plc, Managing Director, John Blackman said “We are pleased to be one of the first software vendors to achieve the B.I.S.S. MiFID Accreditation. From our primary investigations, together with client consultations a year ago, we were convinced that Figaro had most of the existing functionality and, where required, the capability to develop MiFID compliant software. The analysis by B.I.S.S. confirms our belief in the all round quality and flexibility of Figaro.”