MIMICS Commercial Paper Issuance System Overview
MIMICS Commercial Paper Issuance System is designed to eliminate many of the cumbersome and often repetitive bookkeeping chores associated with the issuance of primary market Commercial Paper. The system offers the issuing agent the flexibility needed to handle transactions on behalf of different issuers all using different certificate formats. This system can also handle book entry certificates, issuing only a receipt/confirmation for the transaction.
An issuer file is maintained by the system and inside you will find specific information necessary to process transactions for each issuer. Customer information is maintained in a customer account information file which may be shared with other MIMICS systems. This file may include: name, address, tax ID number, 1099 requirements, and other account information.
Calculations are performed by the system for both interest bearing and discounted paper. Interest is calculated to maturity and, if the certificate is interest bearing, it is displayed on the face of the certificate. A certificate inventory is an accounting of certificates originally issued, those outstanding, and those cancelled or otherwise destroyed. A daily reconciliation report will be printed showing certification disposition. At maturity, proceeds will be disbursed to holders of record and corresponding entries made to issuer accounts.
Reports generated by the system include outstanding certificated, matured certificates, daily transactions, inventory reconciliation, audit reporting detailing all daily activity, and others. For a complete list of reports see MIMICS Commercial Paper Issuance Features below.
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Product FeaturesOverview/GeneralHoliday Schedule TablePop-up Selection BoxesText-Sensitive HelpCurrency TableUser Defined CustomizationProcessing DetailsAny Number Of IssuersAny Number Of IssuesThird Party (Agent) IssuancePayees Different From HoldersDiscounted Or Interest BearingEarly RedemptionsCertificate Or Book Entry FormUser Defined Certificate FormatsUser Defined Receipts1099s PreparedInterest DetailsFixed, Variable, Variable Tiered RatesRate Tiers Defined For Each CategorySimple Or Compound InterestChoice Of Compounding SchedulesChoice Of CalendarsContra Party InformationDemographic/Mailing InformationAccount Numbers & Other Info DefaultsTrade Preference Info DefaultsIRS Info DefaultsSecurity & AuditMulti-Level PasswordingCustom Passwording By System FunctionComplete Chronological Audit TrailDisplay ScreensIndividual CertificatesNew IssuersNew CP IssuedOutstanding IssuersOutstanding CPInterest PaidInterest DueMaturities PaidMaturities DueOutstanding CP By Issuing PartyAccrued InterestTicketsCertificatesReceiptsChecksStandard ReportingNew Issuers AddedNew CP IssuedInterest Paid ReportMaturities Paid ReportCancellation ReportCustomer HoldingsOutstanding CPInterest Accrual1099 EntriesCheck RegisterAudit TrailOptional Report Writer FeaturesEasy To Use Columnar ReportingFree Form 'Statement' Type ReportsMathematical CalculationsMultiple Line Item ReportingFile Export To Other PackagesSophisticated And/Or/If StatementsInterfacesGL/DDA ExportDDA Import
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