MIMICS Bond Issuance System for Central Banks Overview
MIMICS Bond Issuance System has been designed to facilitate the auction process for both your Government Bonds (or Registered Stock) and the externally issued bond you may track, including Corporate and Municipal Bonds. Certificates and holdings are tracked. Transfers can be made and transfer history is saved. Payments are made for Interest, Calls and Maturities. End of year tax reporting can be processed if applicable.
Our system allows the user to easily track the auction process. The auction is declared for an issuer for all of the securities (or tranches), listing their respective rates, maturity dates, call schedules and the amount to be issued. At that point, you enter all auction contributions received from investors as they come in and can print a receipt for each. Each applicant is grouped within a customer type with its default priority level for the auction. The auction process is automatic in the system and can pro-rate by priority level within the securities. The auction can be verified before finalizing. Upon finalizing the allocation, accepted contributions are converted into certificates and refund checks or direct deposits can be produced for the rest.
Current and historical holdings are tracked. Percentage ownership is calculated. Dated As-Of Holdings Reports can be generated. Interest accruals are calculated on a daily basis. Customer statements can be produced. Holdings can be restricted, hypothecated or can have a vesting schedule.
Transfers can be made between holders or from an existing holder to a new holder. The transfers can be one-to-one, one-to-many, many-to-one, or many-to-many. The transfers can be full or partial. They can be made in a Physical form, which will cancel the original certificate of a holder in a partial transfer and reissue a new certificate for the remainder, or in Book Entry form, which will decrement the value of the transaction in a partial transfer. Certificates or receipts can be printed.
Interest payments are projected in advance. Interest due reports can be run. After verification, interest can be processed by security or by issuer. Payments can be made by check, direct deposit or by wire. Payments can be combined by customer so they only receive one check. Micr lines, signatures, and logos can be printed on the checks. Call schedules can be entered in advance or when declared. Calls can be full, partial, random, or a percentage. Maturities are projected and can be reported on. Maturities processing can be done by date range, by security or by issuer.
An extensive list of reports is included in the system, including detailed information about holdings, transfer history, payment history, projected payments and accounting. We work closely with you to create and customize reports that fit your specific needs.
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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