SSENG TCA (Trade Confirmation & Agreement)
SSENG (Securities Settlement Engine New Generation) is a global settlement system for security trades used by UBS Equities operations across APAC, EMEA and US markets. Primary objective of SSENG is to generate and send settlement and confirmation. It is a post-execution, securities processing system capable of handling a high volume of transactions across multiple currencies and legal entities.
NG was developed using Java with Oracle backend on Linux environment. NG uses RTTP framework (real time transaction processing) proprietary software of UBS. RTTP is the processing engine for NG which processes trades in memory cloud.
SSENG is a settlement and accounting system interfacing with the front office trading and sales systems such as Colt, PTB, Opera and MOAP and downstream systems such as TLM and GGL etc. The system currently handles the settlement and accounting for market-making, proprietary and agency business in the UK and European equities, South African equities, US and South American equities, ADRs, some GDRs, some Far East equities,convertibles, warrants and synthetic equity swaps and foreign exchange positions resulting from these trades.
It also supports the Equity Finance (Borrowed Stock) processing and Cash Management funding activities. The system is used to record, in double entry accounting terms, the results of trading, sales, stock borrowing and lending, and settlement of securities.
It carries out daily mark to market of positions using price fed from trading systems,updating trading P&L accounts, maintains commission P&L, interest payable and receivable and business related costs accounts.
It comprises of various components such as SSENG ROUTER, SSENG TCA (Trade Confirmation & Agreement), SSENG SL(Sub Ledger), SSENGTR/FITR (EQ/FI Transaction Reporting) and SSENG MRC.