Emmi >Integration Options

The practice of providing issuance and payment services is directly and indirectly tied to information that originates outside the IPA’s realm and relies on processes outside of its’ control.
  
This inherent disconnection increases both transactional and operational risk as well as the amount of human intervention that has to be expended to provide the manual equivalent of automated processes.
  
Some examples of areas where this disconnection can occur would include:

•	Transactional data entry: IPA, issuer and broker/dealer systems.
•	Related internal systems (the bank systems): money transfer, DDA, treasury, general ledger, billing.
•	Settlement systems (depository systems): depository affirmation, settlement.

Although there is no solution that addresses all of these requirements in an “insta-magic” manner, Emmi was designed to address these challenges and all-systems integration can be accomplished.

More Information Below:

Integration with External Systems

An external system would include any system that is not part of the IPA's (bank's) infrastructure. A partial list of these system's and Emmi's integration options would include:

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Integration with broker/dealer systems Transactions are usually initiated by the broker/dealer and are replicated in the IPA's system by manual input by the issuer or the IPA. Direct integration with the broker/dealer's system removes the need for the IPA or the issuer to enter this information. This can be accomplished in one of the following manners: • Attachment to a depository Pre Issuance Messaging System (DTCC PIMS or Euroclear/Clearstream EPIMS) allows transactional information pass through from a broker/dealer in the form of a transactional request. Emmi makes use of MQ messaging (IBM Websphere MQ) to facilitate these requests. Once received, Emmi handles these requests based upon IPA established rules for validation and affirmation. • Pre Issuance Messaging is not available in every market. In these cases, Emmi can be connected to an investment dealer - broker/dealer network such as Thompson's CanDeal. To accomplish this connectivity, Emmi makes use of the network appropriate protocol - ISO-15022, XML, FIXML or SWIFT. This type of connectivity is superior to PIMS/EPIMS in that it adds value to the process by allowing the creation of a true STP environment bridging both the demand and supply ends of the process. • Although normally addressed by broker/dealer attachment to PIMS or EPIMS, Emmi can attach to direct issuer (self issuer) market place systems such as Sungard's STN Money Markets using the Market Data Definition Language (MDDL) protocol, an industry standard variant of XML. • Emmi can be used to add value to business relationships by providing integration opportunities designed to streamline processes and minimize risk. AMIC can help with any of these integration projects.

Integration with Internal Systems

The easier it is to do business with an IPA, the more likely it is the IPA will be able to attract additional business. Emmi makes it easy for an issuer to say “yes” to an IPA’s offerings by providing the following issuer-related features:

•	Zero capital cost access to all system functions (the IPA can charge additional fees for services).
•	Integration with Pre Issuance Messaging systems, such as DTCC PIMS and ClearStream/Euroclear EPIMS.
•	Integration with money market instrument trading systems such as Thompson TradeWeb/CanDeal.
•	Integration with self-issuer system such as Sungard’s STN Money Markets.
•	The ability to easily enter trades using the system's interface.
•	The ability to specify trade affirmation requirements.
•	The ability to review issuance and payment processes in real time.
•	The ability to export specified information in XLS format for import into other systems.
•	The ability to create custom reports.
•	The ability, if desired, to define an issuer in terms of having a parent/child organizational structure. This parent/child relationship can reflect an actual organizational structure (General Motors / Pontiac, Cadillac, Chevrolet, for example) or a synthetic organizational structure (ABC Company/ABC Company US, ABC Company Canada, for example). This capability can be used to provide the issuer with the following benefits:
	· Greater reporting granularity. · Better control over user rights assignment. · Better IPA experience through more intelligent customer relationship management.
•	The issuer ability to self-manage the creation of users, user passwords and to set user rights.
•	The ability to add value by integrating market data such as exchange rates and interest rate indices.
•	The ability to make use of multiple currencies in the issuance/payment process.
•	The ability to make use of a single IPA across multiple geographic areas.

Ability to Grow Geographically and Integrate Globally

Emmi provide the ability to grow geographically by allowing the IPA to define multiple operational centers. Each operational center can have any of the following attributes:

•	Issuance of notes in its own native currency, or make use of multiple currencies.
•	The ability to interface with its own local depository (or depositories).
•	The ability to define users, issuers and rights.
•	The ability to have its own vault and note printing services.
•	Its own operational calendar.
•	The ability to run its own reports.
•	The ability to define instruments based on local conventions.
•	The ability to make use of another operational center for issuance and settlement.

As the system is expanded to meet your goals for growth, Emmi can be integrated with system on the local level.

All of the above can be accomplished while, at the same time, have all business conducted by the individual operational centers rolled up into a unified (native currency) view for reporting and general ledger.