MIMICS Bond Paying Agent & Transfer Agent System Overview
MIMICS Bond Paying Agent & Transfer Agent System handles the everyday processing for the registrar, paying agent, and transfer agent. The paying and transfer agent functions for bonds are becoming more and more complex as the features of the instrument are expanding. We developed this system to organize and simplify the processing requirements. We know issues like foreign ownership, puts, calls, floating rates, and varied payment schedules can further complicate matters. The system will handle the complex processes as well as some of the more basic needs, such as printing and inventorying certificates, printing checks, and reporting to appropriate taxing authorities. The system comes equipped with a foreign currency converter which accommodates foreign ownership.
New subscriptions and issues are handled with ease. For instance, a new issue is added to the system and is identified by CUSIP, ISIN or a generic identification number. The amount of authorized par and number of authorized certificates are entered for inventory purposes. Each issue can be set up with a user-defined "template" that defines the format of your certificates and receipts. Each bond has its own call and put schedules. You simply enter all relevant call and put dates, and the system will monitor the list for the appropriate dates. A call for a specific bond can either be partial or for the full issue.
The system can handle any permutation of bond transfers. Full or partial blocks from multiple holders can be sold (transferred) to multiple holders. The form of the new issuance can be certificate, book entry, or even a combination. The information regarding the transfer can be printed on the transfer journal, or can be viewed on the screen.
The system processes interest payments for both fixed rate and floating rate bonds. It monitors the record date to assure that only bondholders of record receive the interest. A variety of payment schedules are accommodated, as well as a choice of interest calendars. Interest can be compounded on any schedule.
A full history of all transactions is maintained automatically, and the resident report writer allows the review of activity within any parameter defined. Included in the report writing is the use of multiple user-defined fields that are captured by the system. In addition, the system has the ability to maintain information by groups of investors, to write and print reports to file, to utilize multiple printers, and to provide password access for multiple levels. The system has on-line Help and pop-up boxes for assistance in making entry selections.
MIMICS Bond Paying Agent & Transfer Agent System integrates with the MIMICS Stockholder Accounting System to allow you to handle both stock and bonds with the same ease and convenience. Convertible bonds on this system can be automatically converted to stock on the Stockholder Accounting System. The list goes on. The MIMICS Bond Paying & Transfer Agent System can grow with your needs. There is no software limit to the number of holders or issues you can maintain, and the system can run multi-user on a network.
If you would like more information about our products and services, please fill out an online form or send us an email.
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