In our APM Hedge Fund System, you can load a large amount of trades in one go, rather than individually loading each of them through Trade Entry. This is especially useful for your setup with APM, or for large-volume activity.
One way to do this is by using our ‘Drag and Drop’ method of importing trades using a file. Here’s how you do it:
1. The File
Firstly, you need a .CSV file type.
Other formats, e.g. XLS/XLSX, will not work.
2. The Data – in the File
Next, you need specific data in this file. There are 2 types of values to include: Required Values and Optional Value.
The Required Values need to include both the following column headers, as well as all the relevant values for these columns:
- Trade Date – DD/MM/YYYY
- Buy Sell – BUY, SELL, BCOV or SSELL
- Product ID – should already be set in Product Master
- Executing Broker Code – as set in Broker page
- Settlement Currency
- Trade Price
- Fund Name
- Gross Amount
- Custodian – as set in the Prime Broker page
- Account Number – must exist in the Accounts page
- Transaction Type
- Cash Movement Type
By contrast, the following Optional Values must be included as column headers, but can contain blank values in the cells. APM will calculate the blank values from other available information in the system, or if these should be 0, then simply enter 0. These Optional Values are:
- Transaction Reference – if excluded, APM will calculate this.
- Net Amount – if excluded, APM will calculate this.
- Tax – if excluded, APM will calculate this. Enter 0 if not to be calculated.
- Commission – if excluded, APM will calculate this (assuming commission schedule has been set up before Trade Import). Enter 0 if not to be calculated.
- Strategy Name – optional.
- Sec Fee – if excluded, APM will calculate this. Enter 0 if not to be calculated.
- Product Description – optional. If excluded, APM will use the value in Product Master.
- Pricing Currency – if blank, the settlement currency will be used. This value is mandatory for FX trades.
- Maturity Date – optional depending on Product Type traded.
- Settle Date – if excluded, APM will use the settings to calculate this. However, these must be set up prior to Trade Import.
3. The Data – in the System
You also need to make sure that certain values are already set up in your APM system. These are:
- Products – all products must already exist in Product Master.
- Brokers – all brokers must already exist, in ‘Brokers’ (under Administration).
- Accounts – all Account Numbers and associated Product Types must be set-up in ‘Accounts’ (under Administration).
- FX Rates – for products not traded in the base currency, the relevant FX Rates for the previous trade date up to previous closing date must be included.
- Historic Prices – the prices for all dates from trade date to previous close date must exist in Product Pricing.
- Trade Prices – e.g. for GBP, enter trade price in pounds (£) not pence.
- Spot Trades – these are allowed, but require various specifics.
- The price is the FX rate, and is always a multiply rate.
- The Product ID must be the same as the pricing currency value.
- The quantity is the pricing currency amount.
- The net amount is the settlement currency amount.
- The pricing currency value must be different to the settlement currency amount.
4. Import the trades
Then, import the trades. Drag and drop the .CSV file onto the ‘Trade Import’ icon.
Once this import has processed:
- You will receive a status update email.
- A pop-up will also appear, notifying you of the import.
- The file will be archived in the configured folder.
6. Failed trades
To see any failed trades:
- Go to Trade Query
- Select today’s date for the Process Date
All successful and failed trades can then be viewed.
Failed trades will appear in red. If you hover over them, the reasons for the Trade Import fail will appear.
7. Trades in the Past
If you enter trades with a Trade Date in the past, a Position Revaluation may be triggered.
This Revaluation may take some time – you can defer this until after the trades have loaded (it will automatically run overnight) by selecting ‘No’ when the trade pop-up occurs.
This pop-up appears for every historic trade, so you may want to disable this for large-volume importing. To do this:
- Go to Administration
- Select ‘Configuration’
- Select ‘P&L’
- Uncheck ‘Revaluation Required’
Then reset this after the trades have loaded.
8. Getting started
The Trade Import application needs to be installed and configured. Contact us to get this arranged, as it is not installed by default for all users.
We also have a ‘Cash Import’ function for Cash Trades in our APM Hedge Fund System.
This operates in much the same way, but with slightly different formatting. The Required Values are:
Account Number, Trade Date, Buy Sell, Product ID, Product Type, Settlement Ccy, Trade Price, Quantity and Cash Movement Type.
And the Optional Value is Transaction Reference.