ACR is a software system module to help BROKER FIRM in manage their order processing job from/to STOCK EXCHANGE OF HK LTD.
Conventionally, floor trader take order by telephone either from broker firm or from client directly, he/she will enter the order to the SEHK terminal and return call to client/or office by phone regarding the matched order. This is a time consuming job and easily cause mistake.
From July 3,1997, refer to SEHK circular number TTD 064/97. SEHK provide a service for broker firm with a printer sharer, which can be used for connection to two printers with one as a standby printer in case of the failure of the first one.
This printer sharer can also be used as a real time confirmation output
device and this is used by POP‘S ACR system which can capture confirmations and display on a screen so that dealer can input with ‘Client’s A/C #.
These confirmation information, after enhanced with Client‘s A/C #, can be routed to the back-office system (in fact, captured by the settlement system).
Since order matching can be done during the trading day and not after
the close of market, any problem can be solve when both the settlement staff, AE, and the dealers are all available to work together to solve out questionable transactions.
The result is that no more data entry will be required by the settlement
staffs and confirmation can be completed about the same time when the market closed.
Almost the same time when market close, POP‘S system will be able to print contract note, report, or statement and complete all jobs much earlier then without the system.
AUTOMATIC CONFIRMATION ROUTER (ACR) SYSTEM
SEHK AMS3 Terminal/MWS Dealer/Floor Trader input order to SEHK
input order to SEHK
printer sharer ref: SEHK CIRCULAR# TTD064/97 3/7/97
confirmed file will be captured by the BackOffice system
Network connections Settlement Department
WHO WILL USE ‘ACR’ SYSTEM
Broker firm who USE AMS3 terminal or MWS stations in their office, order printer sharer from SEHK, and currently using POP‘S SETTLEMENT SYSTEM.
WHAT WILL BE CHANGED IF ‘ACR’ IS EMPLOYED
The POP‘S Settlement system will be enhanced with confirmation input function. The input function will save the user to make data entry into the settlement system.
The operations of the system are in two-step.
1. Capture data from ‘ACR’ into the broker side transaction file
2. Generate the client‘s side transaction file based on the information
in the ‘ACR’ file.
Options will be provided as, when client‘s code is used in the ’ACR‘ system generate client side transaction using the client code.
When PIN# is input in the REFERENCE FIELD at the 2nd terminal, POP‘S system will look for the client‘s number in client master and create client side transaction based on the client‘s number.
This will allow broker firm make use of the PIN# (personal identification number) as a password for placing order. It is also useful when alphanumeric code is used for client code which is not easy for data entry during entry into the 2nd terminal.
Install the ‘ACR’ system beside the 2nd terminal, and connect the ‘ACR’ system to the printer sharer provided by SEHK.
ADDITIONAL JOB FOR DEALER ?
No!, dealer need not to make confirmation to AE, or other party in anyway.
He/She only input the Client‘s code instead of crying out or call back
WHAT IS THE FUTURE OF ACR ?
Work with CAMS (The 1st automatic order processing system.)