Instruments & Parameters

  • Calculates Interest Using Any Compounding Schedule
  • Handles Fixed Maturity Instruments
  • Handles Open Maturity Instruments
  • Pay According To Any Schedule
  • Manages Cash Accounts
  • Interest Rates Can Be:
    • Fixed, Variable, Pegged or Graduated
  • Calculate Interest On One Of Many Calendars
  • Calculate Short & Long First & Last Coupons
  • Automatic Rollover Capabilities For Certificates
  • Manages Debt For Multiple Corporations or Entities

Major Procedures

  • Interest Is Projected & Accrued Daily
  • Pay Interest Payments By Check
  • Pay Interest Payments By Direct Deposit
  • Manual or Automatic Roll Over
  • Roll Over From One Instrument to Another
  • Transfer Ownership From One Holder To Another
  • Instant Look Up Of Customer Holdings

Maintenance

  • Check Register Maintenance
    • Include Cleared & Voided Checks
  • Automatic End Of Day System Back Ups

Tax Reporting

  • 1099 Tickets Prepared & Printed
  • W-9, W-8 Tracking
  • Electronic Reporting Format
  • Tax Reporting For Other Countries
  • ASCII File Export
  • K-1s

Exports

  • Create IRS 1099 Forms
  • Create electronic IRS format
  • Export to ACH for Direct Deposit
  • Text Exports For Mail Merges
  • Print Reports to Excel or PDF Format

Reports

  • Certificate List
  • Security List
  • Customer Balances
  • Check Register
  • Activity Report
  • Interest Due
  • Maturities Due
  • Accrued Interest Report
  • Liability Report
  • Unpaid, Uncompounded Interest Report
  • Interest Paid (Customer Breakdown)
  • Interest Paid (Security Breakdown)
  • Principal Paid (Customer Breakdown)
  • Principal Paid (Security Breakdown)
  • Maturity Notices

MIMICS Debt Management System Overview

MIMICS Debt Management System is designed for companies that issue their own debt; such as commercial paper, promissory notes, GICs, and certificates of indebtedness. The system performs all of the functions of registrar, paying agent, and transfer agent. 

Physical Certificates can be printed on blank stock. Debt can be issued with a wide variety of payment schedules; interest can be compounded according to many types of schedules; interest can be fixed, variable, or pegged to another rate; and can be issued with any term. 

The system allows easy deposits and withdrawals, and recalculates interest accordingly. When a customer calls regarding information on their account, the holder information is quickly retrieved and the details on their account holdings are displayed. The user can drill down into the information regarding the customer's demographic data, and also details regarding the debt instrument. 

The MIMICS Debt Management System can handle fixed maturity debt instruments, as well as debt with open maturity dates. The system contains all the procedures of paying agent for the securities. Interest payments can be made by check or direct deposit. Checks can be printed on blank safety stock or in any other format. A check register is updated with new payments by check, and the register can be maintained by entering cleared or voided checks. 

Transfers can be accomplished easily between parties, or from one security to another. Rollovers with or without changes to the parameters of the debt instrument can be made automatically or manually. 

If you would like more information about our products and services, please fill out our online request form.