FIS Cross-Asset Trading and Risk Platform

FIS Cross-Asset Trading and Risk Platform Formerly known as Front Arena

Overview: PRIME PRIME 2021.3 Refer to the FIS Client Portal for a complete list of valid releases.

FCA4492-13

September 2021

Notices

Copyright Copyright © 2021. By Fidelity National Information Services (FIS).

FIS Cross-Asset Trading and Risk Platform Formerly known as Front Arena

FIS, the FIS logo, and Front Arena are trademarks or registered trademarks of FIS, or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

This document and the software described within are copyrighted with all rights reserved. No part of this document may be reproduced, transcribed, transmitted, stored in an electronic retrieval system, or translated into any language in any form by any means without prior written permission of FIS. FIS makes no warranties, express or implied, in this document. In no event shall FIS be liable for damages of any kind, direct or indirect, arising out of the use of this document or the information contained within.

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Disclaimer The screens and illustrations are representative of those created by the software, and are not always exact copies of what appears on the computer monitor. Companies, names, and data used in examples herein are fictitious unless otherwise noted. The material in this document is for information only, and is subject to change without notice. FIS reserves the right to make changes in the product design and installation software without reservation and without notice to users.

Supplementary legal notice for product documentation Any information expressed in this document regarding standard practice or conventions in financial markets or in the administration or functioning of banks is included to provide context to information provided about our products and services and thereby clarify how these products and services function. Such information is expressed in good faith but FIS accepts no liability for its accuracy or validity. Users are responsible for verifying the validity and accuracy of such information to their own satisfaction.

Products belonging to third party suppliers other than FIS or its subsidiaries are mentioned in this document only as information to the reader and are not to be regarded as specific recommendations. FIS or its subsidiaries does not guarantee the quality of these products, their performance, or their usage for any special purpose.

Contents 1 ....... Introduction...................................................................................................................................5

2 ....... PRIME client overview .................................................................................................................6

3 ....... Starting PRIME .............................................................................................................................7

3.1..... Logging on ...........................................................................................................................7

3.2..... Help ......................................................................................................................................8

4 ....... Session Manager ..........................................................................................................................9

4.1..... Session Manager window ....................................................................................................9

4.2..... Tabs .....................................................................................................................................9

4.2.1 .... File tab: Working with the Session Manager ..........................................................9 4.2.2 .... Home tab ..............................................................................................................12

5 ....... Trading and trading windows ...................................................................................................13

5.1..... Trading Manager ................................................................................................................13

5.1.1 .... Trading Manager sheets .......................................................................................13 5.1.2 .... Sheet columns ......................................................................................................13 5.1.3 .... Inserting items into sheets ....................................................................................14 5.1.4 .... Working with the Trading Manager .......................................................................15

5.2..... Trading windows ................................................................................................................17

5.2.1 .... Trade entry windows ............................................................................................17 5.2.2 .... Market making windows .......................................................................................17

6 ....... Instruments and instrument windows .....................................................................................19

6.1..... Instrument section ..............................................................................................................21

6.2..... Trade section .....................................................................................................................21

6.3..... Pricing section ....................................................................................................................21

6.4..... Solving and simulation .......................................................................................................21

6.4.1 .... Calculator ..............................................................................................................22 6.4.2 .... Pricing Sheet ........................................................................................................23

6.5..... Instrument pricing and valuation ........................................................................................23

6.5.1 .... Prices and FX rates ..............................................................................................23 6.5.2 .... Valuation and theoretical pricing of instruments ...................................................23

7 ....... Data management ......................................................................................................................25

7.1..... Explorer ..............................................................................................................................25

7.2..... Yield Curve Definition and Yield Curve Calculation ...........................................................25

7.3..... Volatility Manager ..............................................................................................................27

7.4..... Correlation ..........................................................................................................................28

7.5..... Dividend Estimation and Dividend .....................................................................................28

7.6..... Information Manager ..........................................................................................................29

7.7..... Distributed Information Manager........................................................................................29

8 ....... Administrative controls .............................................................................................................30

8.1..... Administration Console ......................................................................................................30

8.1.1 .... Users, groups, and organisations .........................................................................30 8.1.2 .... Mappings (context links) .......................................................................................31

8.2..... Four Eyes Control ..............................................................................................................31

8.3..... Valuation Parameters ........................................................................................................32

8.4..... Accounting Parameters ......................................................................................................33

8.5..... Operations Manager ..........................................................................................................33

8.6..... Party Definition ...................................................................................................................34

8.7..... Business Data Processing .................................................................................................35

9 ....... System flexibility ........................................................................................................................36

9.1..... AEF Browser ......................................................................................................................36

9.2..... Extension Editor .................................................................................................................37

10 ..... Documentation, training, and support .....................................................................................38

10.1... FIS Client Portal .................................................................................................................38

10.2... Documentation ...................................................................................................................38

10.3... Trading University ..............................................................................................................38

10.3.1 .. Developer certification ..........................................................................................38 10.4... Support ...............................................................................................................................38

11 ..... Appendix: PRIME FCA resources .............................................................................................39

Overview: PRIME (FCA4492-13)

1 Introduction 5 of 42

1 Introduction This document is intended as a starting point for anyone who wishes to learn about PRIME.

For more details about any of the areas mentioned in this document, look for the references within this document or see 11 Appendix: PRIME FCA resources.

You can also visit the FIS Client Portal (see 10.1 FIS Client Portal), where extensive documentation on all areas of PRIME and FIS Cross-Asset Trading and Risk Platform is available.


2 PRIME client overview 6 of 42

2 PRIME client overview PRIME is a cross-asset desktop application component seen by the end user. It is a client to the ARENA Data Server (ADS) and ARENA Market Server (AMS) and contains most of the business logic of the system. It is a rich client provided in a Microsoft Windows environment. For technical details about PRIME, refer to System Administration: PRIME (FCA1086).

By default, calculations are performed in PRIME rather than in the ADS, permitting users to tailor and simulate all calculations and parameters to suit their needs without affecting other users (see also 5.1 Trading Manager). Subscribed data and calculated values are stored and reused where possible so that calculations are not repeated unnecessarily. For comprehensive information about PRIME functionality and features, refer to PRIME Help (FCA1260).

There is also a server version of PRIME, the ARENA Task Server (ATS), which allows business logic to be provided as a service. The ATS can be thought of as a PRIME client without the user interface. For more information, refer to System Administration: ATS (FCA2799).

The following graphic displays the functional architecture of Cross-Asset Trading and Risk Platform. For more information, refer to Overview: Front Arena System Architecture Diagram (FCA1463) and Front Arena Glossary (FCA1249).

Note: For information about Cross-Asset Trading and Risk Platform in general and how PRIME relates to other components, refer to Overview: Front Arena (FCA3598).


3 Starting PRIME 7 of 42

3 Starting PRIME PRIME has a similar look and feel to standard Windows applications. Many Windows concepts are also applicable to PRIME windows.

3.1 Logging on By default, PRIME is located in the directory C:\Program Files\Front\Front Arena\PRIME\<version>. You can start PRIME as a standard application from the Windows Start menu or from the command line.

After running PRIME, you are prompted to specify your credentials in the User Name and Password fields. In addition, depending on your configuration, you are also prompted to complete the fields AMAS Password, ADS Server, and so on.

Click the arrow button in the lower-right corner of the window to display or hide additional fields. The following graphic shows the possible layouts of the log on window:

The log on window includes the following fields:

Field Description

User Name Enter your user name in this field.

Password Enter your password in this field. Note: Passwords are case-sensitive.

AMAS Password If you have an ARENA Market Access Server (AMAS) password, enter it in this field. If you do not enter a password here, you can still log on. When you have logged on to PRIME, you can enter the AMAS password in the Trading Manager by right-clicking the marketplaces symbol ( ) and selecting Connect All.

ADS Server Use this list to select the ADS. You can also enter the ADS address directly in the field in the format <machine name>:<port number>.

Load Default Workspace Select this check box to use a previously saved default workspace. If you want to start PRIME with the empty Session Manager, clear this check box.


3 Starting PRIME 8 of 42

Field Description

Archived Select this check box to load previously archived data in your PRIME session.

Workspace Type the name of a workspace if you want to open it automatically when starting PRIME.

Extension Context Enter the name of the extension context to use in the PRIME session.

Date Today If you enter a date in this field, PRIME will run as if it was the specified date. However, PRIME will use live (real-time) data for prices and valuation parameters, such as volatilities, yield curves, and so on.

Historical Date If you enter a historical date in this field, all data, including prices, volatilities, yield curves, and so on, will be retrieved from the specified historical date. This requires that historical data has previously been saved. Certain financial events are also rolled back to this date. For details, refer to User Guide: Historical Valuation (FCA1993).

3.2 Help From many applications in PRIME, you can press F1 or click the button in the upper-right corner of the window to display the relevant help topic. Within PRIME Help, you can also search, browse the index, or navigate through the contents. Each application in PRIME is represented by a help topic, which often refers to additional documentation.


4 Session Manager 9 of 42

4 Session Manager

4.1 Session Manager window After you log on to PRIME, the Session Manager window is displayed. From the Session Manager, you can open all other applications and maximise or minimise them.

The Session Manager together with any open applications are referred to as your workspace. It is common to save various setups as workspaces so you can quickly start working.

You can also run multiple workspaces by running multiple instances of PRIME.

4.2 Tabs

4.2.1 File tab: Working with the Session Manager The File tab contains commands related to workspaces, preferences, and ribbon customisation.

Saving and opening a workspace

You can save a workspace (that is, the contents of the opened applications and their positions) by selecting File>Save As and providing a name for the workspace. The link to the data which



is loaded into an application, settings made to individual applications, and connections to electronic markets are also saved.

Note: Simulations can be made in one workspace without affecting the calculations made in another. Simulated data is unique to the current workspace, and other workspaces and users are only affected when you save your data.

It is possible to save multiple workspaces so you can quickly switch between setups during the same PRIME session. To open a workspace, select File>Open. It is also possible to access and open workspaces defined by other users in the organisation by using the Explorer (see 7.1 Explorer).

Default workspace Each user can have an individual default workspace. To make the active workspace the default, select File>Save As Default.

Your default workspace opens automatically when you start PRIME if Load Default Workspace is selected in the log on window (see 3.1 Logging on).

Note: Any changes to settings in File>Preferences>User override the File>Save As Default setting (see User Preferences).

Preferences

User preferences Your user preferences can be set through the Session Manager by selecting either File>Preferences or Home>Settings>Preferences. There are three settings in your user preferences which, when changed, require you to restart PRIME. These settings are Default Context, Default Calculation Environment, and Local Calculations in Applications:

The Default Context list can be used, for example, to change between column setups in the Trading Manager. This list is a way to customise the system for different user types, such as equity, FX, or credit. Extension contexts are added in the Extension Editor (see 9.2 Extension Editor).

If you want all applications opened in the session to share calculations, clear the Local Calculations in Applications check box.



Note: Changing this setting only affects Trading Manager sessions and applications opened after the change. If you open a previously saved workspace, the current Local Calculations in Applications setting applies – the state when the workspace was saved is not stored.

By default, every application in PRIME (for example, each instance of the Trading Manager) has its own set of calculations, meaning all calculations and simulations are shared among all opened sheets in a Trading Manager (except the Quote Sheet).

All Quote Sheets in a Trading Manager instance always have a unique set of calculations shared among them. That is, they are never affected by any simulations made in any other Trading Manager or in any other sheet types in the same Trading Manager.

Workspace preferences Your workspace preferences allow you to distinguish between multiple PRIME sessions, as well as to adjust price updates.

In your workspace preferences, you can specify whether you want to use continuously updated prices. If you want to stop price updates (for example, when running queries) so that the same prices are used instead of new ones, clear the Use realtime updated prices check box.

Passwords In the Passwords folder, you can change your ADS and market passwords. Market passwords are set for each individual marketplace. You must be connected to the marketplace to change your password.

Note: When connecting to a marketplace (see Connecting to markets), you might be prompted for your AMAS password. This password is set by your System Administrator.



4.2.2 Home tab The Home tab is the main starting point for most tasks in PRIME. This tab contains the user's key applications, access to other applications, the Session Manager theme, and preferences.

Ribbon

Use the All command to search and access all applications in PRIME. For example, all trading windows and instrument definition windows can be found through this command.

The Running menu contains a list of applications which are currently open. Select an application from the list to bring it to front.

The Trading Manager, Volatility Manager, and Yield Curve Calculation windows are the main windows for the current user type. The Trading Manager is PRIME's main window for basic trading, order management, market making, position keeping, risk management, and so on.

The settings in the Theme group are used to change the PRIME colouring.

The Preferences command gives you access to various user and session settings (see Preferences).


5 Trading and trading windows 13 of 42

5 Trading and trading windows

5.1 Trading Manager The Trading Manager is the main PRIME window, where all financial data and calculated values are accessible and brought together in one view. The Trading Manager is an Excel-like window where dedicated sheets, populated with financial data, can be set up to view, for example, market, trade, and portfolio information.

Most rows, columns, and cells in the Trading Manager can be double-clicked and right-clicked to access more data or get a list of choices applicable to the specific cell. The Trading Manager uses of both mnemonic keys and shortcut keys to support efficient workflow using only keyboard strokes.

Most keyboard shortcuts are implemented in the same way as standard Microsoft Windows and Excel features. For example, the Tab key moves between window elements in a predefined order, while Shift+Tab moves in the reverse order. In addition, the arrow keys can be used to move between cells in the Trading Manager worksheets. For a complete list of keyboard shortcuts in the Trading Manager, refer to PRIME Help (FCA1260).

To access the Trading Manager, select All>Trading>Trading Manager in the Session Manager.

To display financial data in the Trading Manager, there are three steps to follow:

1. Select the required sheet (see 5.1.1 Trading Manager sheets). 2. Add columns into the selected sheet (see 5.1.2 Sheet columns). 3. Insert the required financial data objects as rows into the sheet (see 5.1.3 Inserting items

into sheets).

5.1.1 Trading Manager sheets The defining characteristic of each Trading Manager sheet is the type of business object displayed in each row, together with any related logic. For example, the Portfolio Sheet displays portfolios by default, and the Trade Sheet displays trades. To insert sheets, by select Sheets><sheet name>.

There are several sheets available in the Trading Manager – for example, the Portfolio Sheet for managing and monitoring positions, the Order Book Sheet for viewing trading activity, and the Risk Matrix Sheet for analysing various scenarios based on shifts in related parameters. For more information, refer to PRIME Help (FCA1260).

Each sheet displays columns horizontally, and business objects vertically. The exception to this is the Vertical Portfolio Sheet, where columns and their corresponding values can be displayed vertically, as well as horizontally (referred to as rows in this sheet).

5.1.2 Sheet columns Each sheet displays a different default set of columns. Hundreds of additional predefined columns containing financial data and calculated values can be displayed. Similarly, you can remove the columns you do not want displayed. The default set of columns can also be changed (see the Default Context list in section Preferences, as well as sections 6.3 Pricing section and 9.2 Extension Editor).



In addition, you can define and display scenarios or vector columns. For details, refer to PRIME Help (FCA1260).

To add or remove columns, right-click any column header and choose Select Columns or select Home>Insert>Columns. The columns displayed in the Available columns area can differ depending on your context. You can select different contexts from the Context list, and the applicable columns will be displayed.

5.1.3 Inserting items into sheets To insert the business objects you need (for example, portfolios, instruments, or trades) into a sheet, select Home>Insert>Items to open the Insert Items window. Alternatively, in Home>Select, select Find Exact Name, enter the name of the business object in the quick insert field, and click Go. This field is case-sensitive, so you must know the exact spelling and characters in the name.

If you use the Insert Items window to search for business objects, it is possible to search for data by typing a part of the name, ending and/or beginning with an asterisk (*) depending on whether you know the first or the last part of the name. It is also possible to save frequently used selections as query folders by selecting Query>Save Query.

Portfolios Portfolios are used to group instruments and trades in various ways. For example, different users or traders might have their own portfolios, where their trades are saved. Based on this, trades can be grouped (summed up) into positions, and the Portfolio Sheet provides the sum of all positions in the top row(s).



Virtual portfolios or trade filters In PRIME, virtual portfolios consist of trades which have common values in specified trade fields, as selected by a trade filter. Therefore, virtual portfolios are also referred to as trade filters. Virtual portfolios can be created in PRIME by using the Trade Filter window (in the Session Manager, select All>Admin>Trade Filter). The Trade Manager (accessed by selecting All>Admin>Trade Manager from the Session Manager) can be used for viewing trades included in trade filters and for managing groups of trades. For more information, refer to PRIME Help (FCA1260).

5.1.4 Working with the Trading Manager

Right-click menus There are various right-click menus available in the sheets, depending on where you click. Sheets have three different areas where right-click menus are available: the grid row header, the grid column header, and the grid cell. For example, you can right-click a row header to group a position by currency or counterparty.

Grouping By right-clicking a row header, you can group business objects by various categories and see a group of trades aggregated into one row or position. Example groupings include Counterparty, Currency, Trade Acquirer, and Underlying. You can also use your own custom criteria to create a flexible tree structure of groupings.



Valuation details In the Trading Manager, the logic which delivers data to the cells in the form of valuation trees can be viewed in real time by right-clicking a cell and selecting Valuation>View Valuation Details. In the Valuation Viewer, you can drill down to reveal underlying data and logic. The Valuation Viewer is not unique to the Trading Manager; you can access it from most cells in PRIME.

The Valuation Viewer is used to inspect how calculated values are constructed. In the Valuation Viewer, you can follow the entire flow of the calculation. By traversing the tree, you can find and view all calculation components. You can also use the Valuation Viewer for simulation. It is possible to perform simulations on any level in the tree to analyse different scenarios.

The extension attributes displayed in the Valuation Viewer are defined in the Extension Editor. You can also bring up an extension attribute in the Extension Editor directly from the valuation tree in the Valuation Viewer by right-clicking the row header of the extension and selecting Evaluator>Open With Extension Editor. For more information about the Extension Editor, see 9.2 Extension Editor.

Connecting to markets To trade against an exchange, such as Eurex or Nasdaq, you must connect to the required market(s). After you connect to a market, the connection is automatically reinitiated when a saved workspace is reopened. You can connect to and disconnect from markets directly in the Trading Manager by clicking Trading>Market>Market Places from the Order Book Sheet.



Tip: You can also connect to marketplaces through your marketplace password preferences or through the Explorer (see 7.1 Explorer).

5.2 Trading windows There are various trading windows built into PRIME. They are designed to help you manage your trading in an efficient way. These windows can quickly be opened through right-click commands from the Trading Manager sheets, and they are also available from in the All>Trading menu in the Session Manager.

Some trading windows are also available from the Trading and View tabs in the Trading Manager (the Trading tab is available for the Order Book Sheet).

5.2.1 Trade entry windows Trade entry windows include the Order Entry, Compact Trade Entry, and Post Trade Report Entry. The Order Entry allows you to place orders on the market, and it automatically adapts to each order book's features. The Order Entry works both as a standalone window and as a docked-in window in the Trading Manager.

The Compact Trade Entry is the PRIME's manual order entry window. It works in the same way as the Order Entry, except it cannot be docked in to the Trading Manager.

The Post Trade Report Entry window is used as a part of the OTC deal reporting and has a similar look and feel to the other trading windows.

5.2.2 Market making windows The Quote Monitor is used to monitor the number of quotes which are active on each connected marketplace. It is used for both equity market making and fixed-income market making.

In the Spread Table Definition window, you can define your own spread tables which can be used for maximum spreads and minimum spreads. Spread tables consist of a set of spread rules, defined by interval, spread, quantity, and strategy mode. The tables are assigned to order books, market segments, or exchanges which you want to quote.



The Trading Manager Quote Sheet provides many quote configuration commands, which you can set using the corresponding columns inserted in the sheet. Alternatively, you can set commands by using Home>Quote>Settings.

For more information, refer to the following documents:

• User Guide: Market Making (FCA1617) • User Guide: Basket Trading (FCA2054) • User Guide: OTC Deal Reporting (FCA4078) • User Guide: Automated Execution (Algorithmic Trading) (FCA4333) • User Guide: Automated Trading (FCA4469)


6 Instruments and instrument windows 19 of 42

6 Instruments and instrument windows Financial instruments which can be traded in Cross-Asset Trading and Risk Platform can be classified into five main types of asset classes:

• Interest rate: Fixed-income (FI) securities and interest rate derivative (IRD) instruments carrying interest rate risk.

• Credit: Fixed-income and interest rate products with a credit component and credit risk. • Equity: Equity cash and derivative instruments with equity risk. • Foreign exchange (FX), money markets (MM) and FX options (FXO): Securities, foreign

exchange cash products, and foreign exchange derivative instruments carrying foreign exchange risk.

• Commodity and commodity derivatives: Commodity instruments which have a reference to a commodities market.

• Convertibles: The FIS Convertible Bond Services Interface enables Convertible Bond Services valuation of convertible instruments from within PRIME.


• User Guide: Structured Equity Products (FCA4528) • User Guide: Total Return Swaps (FCA4311) • User Guide: Portfolio Swaps (FCA4397) • User Guide: Credit Trading (FCA4170) • User Guide: Index-Linked Instruments (FCA2776) • User Guide: Interest Rate Derivatives (FCA3913) • User Guide: Collateral Management (FCA5000) • User Guide: Foreign Exchange Trading (FCA2052) • User Guide: Foreign Exchange Options Trading (FCA3959) • User Guide: Call Accounts (FCA4138) • User Guide: Commodity Derivative Trading (FCA4418)



All instrument windows have what is referred to as a consolidated trade entry. This means that you can define, trade, and price an instrument in the same window. This window is called the instrument definition window.

There are multiple instrument definition windows in PRIME, and many flavours of instruments can be created in the same window. For example, from the Option instrument definition window, you can create plain vanilla equity options, Asian options, quanto options, and so on.

There are three sections in most instrument definition windows. In a typical deal entry window, instrument, trade, and pricing details can be seen together. The Layout menu gives you plenty of options to select exactly what you want to see.

Separate from the three views is the Quick entry field, which can be accessed by selecting Layout>Trade>Quick Entry. It is designed to give you an efficient input method which can be used to create a new trade by typing only a few letters. This reduces the time spent on entering new trades.

Further functionality and customisations are available by using custom instrument definitions. For more information, refer to User Guide: Custom Instrument Definitions (FCA4516).



6.1 Instrument section The instrument section is used to set up and define instruments in PRIME. Each instrument definition window contains its own unique set of fields. In most instrument definition windows, you can display additional instrument fields by selecting Layout>Details>Instr.

Depending on the specific instrument you are setting up, additional fields might become available when you select certain settings for the instrument.

When you change values in the instrument section, the values in the pricing section (see 6.3 Pricing section) are immediately recalculated. You can turn off this recalculation functionality by selecting Layout>Pricing>Auto Refresh. If you do this, you can manually recalculate the pricing section columns by pressing F5 or by hiding and then displaying the pricing section. Clicking Home>Pricing>Recalc updates all cash flows, and hence the pricing section, in previously saved cash flow instruments.

6.2 Trade section The trade section is used to enter trades in the instrument, set up administrative information, and view additional information about the trade, such as cash flows and account information. You can display additional trade fields by selecting Layout>Details>Trade. By selecting Layout>Trade>Layout, you can add or remove fields as required. Through the same Select Columns window, the selected fields and detail mode logic can be saved for each user and instrument type.

6.3 Pricing section The pricing section of the instrument definition window displays valuation information for the instrument. You can use the pricing section for performing simulations and solving (see also 6.4 Solving and simulation).

Simulations of risk factors (such as volatility, carry cost, or discount rate) made in the pricing section or in the Calculator window remain even if changes to instrument properties (for example, exercise type, expiry date, or currency) are made.

You can change which columns appear in the pricing section by right-clicking a column header and choosing Select Columns. Additionally, in the right-click menu, you can change the order and labels of columns, set the number of decimals, save columns as templates, and open stored column templates. You can change the default columns by inserting or deleting columns from the pricing section and selecting Layout>Default Settings>Save. Note that the width of the columns is saved as well.

The default columns displayed in the pricing section are specific to the instrument and the underlying, and they are set in the Extension Editor with the FExtensionValue _InsDef_Pricing_DefaultColumns (see 9.2 Extension Editor).

6.4 Solving and simulation You can solve for implied values, simulate calculated values, and price instruments in the Trading Manager Pricing Sheet, the instrument pricing section, or the Calculator. The lock/solve functionality of the pricing section can be customised from the Extension Editor in terms of default columns to solve for, and so on. For multi-leg cash flow instruments, many calculated values can be displayed and solved for per leg. For more information, refer to PRIME Help (FCA1260).



6.4.1 Calculator For simulation purposes, it is possible to open a clone (copy) of an instrument in the Calculator window, which is an instrument definition window with the pricing section displayed vertically with fields, instead of horizontally with columns. The Calculator lets you simulate, solve for all risk factors, and price one single instrument in a slim window. It is possible to save the instrument and trade directly from the Calculator.

The following graphic shows an example of using the Calculator to solve for the volatility while keeping the theoretical price (goal value) constant:



6.4.2 Pricing Sheet Simulation and pricing of several instruments in parallel can be done by using the Pricing Sheet.

For example, it is possible to simulate any risk factor in the Pricing Sheet to see the effect on the theoretical price. The lock/solve functionality can also be used for single or multiple instrument rows.

6.5 Instrument pricing and valuation

6.5.1 Prices and FX rates Instrument prices can be entered manually from price distributors, such as Refinitiv, or from markets connected to Cross-Asset Trading and Risk Platform, such as LIFFE, Eurex, and so on. The SPOT market is a general market for prices with anonymous source.

Therefore, each instrument can have several price sources and quotations in several currencies. In fact, you might want different prices for different purposes. The rules for selecting prices are defined with the Price Finding and the Price Base functionality.

FX rates and base currency Avoid storing prices in several currencies. Instead, select one currency as the base currency (usually USD or EUR). In this way, you do not have to save all of EUR/USD, GBP/USD, and GBP/EUR, because the system calculates these rates for you based on the base currency.

Mark-to-market Generally, the internal market is defined as MtM Market. For P/L and reporting purposes, official mark-to-market prices (usually one price for each instrument) are stored for this market every evening by the mark-to-market BDP process (see 8.7 Business Data Processing). The MTM From Feed check box, located in the Properties tab in the instrument section, determines whether a market or theoretical price is stored for each instrument.

6.5.2 Valuation and theoretical pricing of instruments

Valuation frameworks Cross-Asset Trading and Risk Platform supports many built-in or core valuation frameworks and specialised pricing libraries, but it also lets you plug in customised valuation models.

For information about general valuation of instruments in PRIME, refer to the following documents:

• Reference: Discounting Framework (FCA4525) • Reference: Valuation of American and European Options (FCA4155)

The latter document describes the valuation parameters which are used when calculating the value of American and European options in Cross-Asset Trading and Risk Platform.



Additionally, the Black & Scholes formula implemented in the platform is explained, as well as the different methods used to price American options.

User-Defined Monte Carlo (UDMC) engine The UDMC enables rapid time to market for completely new instruments. You can define your own payoff patterns using the Payoff Expression Language (PEL).

The UDMC is suited for valuation and risk management of highly structured products, typically multi-asset, multi-currency, and path-dependent products, for which no analytical solutions are known.


• Reference: Discounting Framework (FCA4525) • Reference: Valuation of American and European Options (FCA4155) • Used Guide: Structured Equity Products (FCA4528) • Reference: User Defined Monte Carlo Templates (FCA4674) • Reference: Credit Valuation (FCA1859) • Reference: Interest Rate Derivative Valuation (FCA4497) • Reference: Index-Linked Instruments (FCA4801) • Reference: Volatility Fundamentals (FCA2340)

Valuation parameters, yield curves, volatility surfaces, correlations, and dividends All data and parameters which are needed to theoretically value instruments are set and viewed through various windows, such as Administration Console>Valuation Parameters, the Yield Curve Definition and Yield Curve Calculation windows, the Volatility Manager window, the Correlation window, and the Dividend Estimation and Dividend windows. These windows are briefly described in sections 7 Data management and 8.3 Valuation Parameters.

Yield curves, volatility surfaces, correlations, dividends, and so on, can be mapped to instruments or groups of instruments.

Valuation information Valuation information is available by right-clicking a calculated value (for example, a cell in the pricing section) and selecting Valuation>View Valuation Information, or by selecting Home>Instrument>Valuation Info from any instrument definition window.

The information displayed in the Valuation Information window is retrieved from the valuation trees used for pricing and is therefore always up to date (see Valuation details).


7 Data management 25 of 42

7 Data management From the All>Data menu accessed from the Session Manager, you can open all windows for creating and storing data and parameters such as yield curves and volatilities.

7.1 Explorer The Explorer is primarily used to browse and locate shared PRIME business objects, such as instruments, marketplaces, valuation parameters, and so on. Business objects are classified and can be organised in hierarchical groups, which are displayed as folders in the tree view. When a group is selected from the pane on the left, the contents of the folder are displayed in the list view in the pane on the right.

Depending on what type of object you select, it might be possible, for example, to inspect the object's properties, open the object, edit its settings, or delete the object.

Note: After deleting an object from the Explorer, it is deleted from the ARENA Data Model (ADM) database as well.

7.2 Yield Curve Definition and Yield Curve Calculation The Yield Curve Definition window is used to define various types of curves, such as zero-coupon yield curves, instrument spread curves, credit curves, price (commodity) curves, inflation/seasonality curves, and composite curves. PRIME offers extensive functionality for curves and their calibration and interpolation. This includes support for most types of basis curves and OIS/CSA curve setups.



The Yield Curve Calculation window is used to analyse calculated values and to maintain the curves. In this window, you can draw curves, read values for specific dates, and change values for the points or spreads defining each curve.


• PRIME Help (FCA1260) • Reference: Discounting Framework (FCA4525) • User Guide: Single Currency Basis Curve Setup (FCA4831) • User Guide: FX Basis Curve Setup (FCA4736) • User Guide: USD OIS Curve Setup (FCA4709) • User Guide: Synthetic Benchmarks in Yield Curves (FCA4844) • User Guide: Inflation Curve Setup (FCA4786) • User Guide: Credit Trading (FCA4170) • User Guide: Commodity Derivative Trading (FCA4418)



7.3 Volatility Manager The Volatility Manager window provides an efficient tool to create and manipulate volatility surfaces. A volatility surface is built up by points and/or skews. The general idea behind surfaces built up by volatility points is to let the points span one or more multi-dimensional grids, which are used as interpolation grids when a volatility value is retrieved from the surface. The volatility data can either be represented directly by a point (a benchmark-free point) or indirectly by a reference to a benchmark instrument or order book (a benchmark point). It is possible to have both benchmark-free points and benchmark points in the same surface.

PRIME has extensive support for swaption and cap/floor surfaces under Black & Scholes frameworks assuming log-normal, displaced (shifted), or normal volatilities. Furthermore, you can define SABR, Hull & White, Heston, SVI, Issuer, Instrument Factor, Instrument Specific, and Malz surfaces.


• Reference: Volatility Fundamentals (FCA2340) • User Guide: IRD Volatility Setup (FCA4887)



7.4 Correlation The Correlation window enables you to store and maintain correlation values. A correlation matrix structure defines pair-wise correlations between parameters of the following types: Category, Instrument, CurrencyPair, Issuer, Volatility, YieldCurve, Counterparty, Rating1, Rating2, Rating3, Risk Factor Group, and Risk Factor Spec. In the Correlation window, you can create correlation matrixes, beta correlations, base correlations (for credit tranches), and instrument correlations.


• PRIME Help (FCA1260) • User Guide: Structured Equity Products (FCA4528) • User Guide: Interest Rate Derivatives (FCA3913) • User Guide: Credit Trading (FCA4170)

7.5 Dividend Estimation and Dividend The Dividend window is used for viewing, editing, and manually entering dividends which will be stored in the database. These dividends can be referred to as "historical dividends" even though they might not necessarily fall on a historical date. This is to distinguish them from the data which is viewed in the Dividend Estimation window. This window enables data about estimated



stock dividends to be entered and saved to the database. This information can be used in valuation calculations.

For more information, refer to PRIME Help (FCA1260).

7.6 Information Manager The Information Manager is used for writing and editing queries, running queries, creating reports, and making queries available as filters. It is also possible to add queries as windows in PRIME.

The Information Manager is opened from the Session Manager by selecting All>Admin>Information Manager.

7.7 Distributed Information Manager The Distributed Information Manager is used for writing, editing, and running queries, similarly to the Information Manager. The difference is that, in the Distributed Information Manager, the processing is done outside of PRIME, using an ARENA PACE Server (APS). This is useful when running heavy queries, which can otherwise cause the whole PRIME session to become unresponsive.

The Distributed Information Manager is opened from the Session Manager by selecting All>Admin>Distributed Information Manager.


• PRIME Help (FCA1260) • System Administration: Distributed Processing Using PACE (FCA4619)


8 Administrative controls 30 of 42

8 Administrative controls The All>Admin menu in the Session Manager stores the administrative controls for PRIME, in addition to back-office-related windows and Business Data Processing components.

8.1 Administration Console The user experience can be improved and security enhanced by configuring the system so that the users only see the menus, commands, windows, and so on, relevant to them. This is done using the Administration Console. This window, together with the Explorer, provides access to many of the settings and business objects in the system.

8.1.1 Users, groups, and organisations Users, groups, and organisations are defined in the Users, Groups & Organisations folder.

Different types of users need to access various parts of PRIME and various PRIME objects. This is achieved by defining different user profiles for different categories of users:

• Owner: An owner is assigned to the object. The owner can have certain rights, such as read/write/delete.

• Group: The next level at which protection can be set is the group level, that is, the group to which the owner belongs.

• Organisation: The third level for setting protection is the organisation level, that is, all groups belonging to the same organisation as the owner and their group.

• World: The highest level at which protection can be set is the world level. This level applies to all organisations defined in the system.

It is possible to set different protections at different levels, as shown in the following example.

Example The owner of an object might have read/write/delete rights.

The group to which this owner belongs might have only read/write rights.

The organisation to which this group belongs might just have read rights.

The world level might have no rights.

For a user belonging to a group to have the same rights at the group level as another group, the user must first become a friend of that group. Protection on objects at the group level will then also include the user.

Both the owner of the object and the group to which the user belongs have certain access to the data. Therefore, the group structure in PRIME should reflect the data protection structure in PRIME rather than the operational organisation in the trading room.

Note: Every user must be registered in the relational database management system (Microsoft SQL Server for Windows or Sybase ASE for Linux) with login details to be able to connect to the server. It is not sufficient to enter users only in the ADM database using Administration Console>Users, Groups & Organisations.



8.1.2 Mappings (context links) The Administration Console is also used to set up mapping contexts. A mapping context is a set of connections between parameters used in valuation calculations and various instruments. The connections (also referred to as mappings or context links) can be set up and stored for different combinations of context components. Mappings are set up in the Context>Definitions folder, where you can, for example, link yield curves, volatility surfaces, or valuation functions to a specific instrument.

The parameter override settings determine the hierarchy of mappings. In the Parameter Override folder, you can set up a hierarchy of mappings which takes effect in the current workspace for the individual, group, or organisation. This is where you can apply the mapping context you have created in the Context Definition folder to your user.

For example, to apply a context to your user, select User in the Place pane, and select the context definition you have created in the Parameter pane. Then, click Set and save your changes in the Administration Console.


8.2 Four Eyes Control Changes to most database objects can be controlled by using the Four Eyes Control. This requires an authoriser to approve any changes to the database before they take effect. This functionality is activated in the Four Eyes Control window. When the Four Eyes Control is activated, the authoriser's to-do list is populated with changes which they can either accept or reject, as appropriate.



8.3 Valuation Parameters In Administration Console>Valuation Parameters, parameters related to valuation can be set. For example, settings for valuation models, risk calculations, profit and loss (P/L), and default price finding can be specified.

For example, the Accounting Currency list in the General tab is used as the accounting currency for the end-of-day Business Data Processing (BDP) tasks and as the currency for trade filters. It is also used as the default currency for ARENA functions when the entity is a trade or an instrument and when no currency parameter is passed. For P/L purposes, the accounting currency is chosen if Historical Payment FX Currency (in the Profit & Loss tab), Aggregate Display Currency (in the General tab), or Position Display Currency (in the General tab) are set to Accounting Curr.

Another example is the Report Date list (in the General tab), which decides, together with the end date, which date the P/L calculations will use as the valuation date.




8.4 Accounting Parameters In Administration Console>Accounting Parameters, it is possible to set parameters for calculating accounting and economic P/L.

8.5 Operations Manager Cross-Asset Trading and Risk Platform’s back-office window is transparent, configurable, and encompasses a wide range of back-office processes for trades. For example, confirmations can be generated automatically when a trade is entered or when it has reached a specific status level. The system automatically determines whether amendments to the transaction require reconfirmation and distributes the appropriate message using email, fax, or SWIFT for delivery.

The Operations Manager is very similar to the Trading Manager in terms of design and layout (see 5.1 Trading Manager). In the Operations Manager, you can set up one or more sheets for different areas – settlement processing, confirmation processing, journal processing, and fixing – as well as colour-code the corresponding tabs. You can populate each sheet with data using a filtering mechanism in the Insert Items window (Home>Insert>Items). Each sheet is user-



definable. You can decide which columns of data to view, and you can also save your workbook and reopen it later.


• User Guide: Confirmation and Settlement (FCA2104) • Installation: Accounting, Confirmation, and Settlement (FCA2105) • User Guide: Accounting (FCA4410)

8.6 Party Definition The Party Definition window is used to define parties, such as brokers, markets, counterparties, issuers, and so on. It is a part of the back-office functionality included in PRIME.



8.7 Business Data Processing BDP is the name of all the functionality necessary to maintain the database from a business perspective (as opposed to maintaining the database because of technical requirements, such as disk space, processor loads, database checks, database dumps, and so on). Apart from technical requirements, there are functional requirements for how to maintain a database – for example, data needs to be maintained for year-end closings of the book, and positions need to be closed because instruments expire.

The BDP functionality is a compiled part of PRIME and is therefore governed by the PRIME's compatibilities and dependencies. BDP scripts can be run from within PRIME, they can be scheduled as tasks, or they can be run from the Command Prompt using ats.exe.


• Overview: BDP Business Data Processing (FCA2324) • Data Management: BDP Mark to Market (FCA1813) • Data Management: BDP Trade Aggregation (FCA1816) • Data Management: BDP Exercise and Assignment (FCA1815) • Data Management: BDP Instrument Expiry (FCA2299) • Data Management: BDP Deleting Historical Prices (FCA2862) • Data Management: BDP Fixing (FCA3765) • Data Management: BDP Trade Rollout (FCA3890)


9 System flexibility 36 of 42

9 System flexibility Cross-Asset Trading and Risk Platform is highly extendable, and the ARENA Extension Framework (AEF) allows your organisation to customise and enhance the platform functionality.

When extending Cross-Asset Trading and Risk Platform, you must be aware of the specific support policies and licensing requirements which apply, so as not to jeopardise stability, performance, or upgradeability.

For details about licensing, usage policy, and entitlement to support, refer to Overview: Extending Front Arena (FCA2736). There are also training courses and professional services to help developers (see 10.3 Trading University).

The All>System menu in PRIME includes windows for technical specifications and extension management, such as the AEF Browser and the Extension Editor. In this menu, you can also find windows related to logging, importing, and reporting.

9.1 AEF Browser The AEF Browser is a key source of information about AEF entities. The AEF Browser currently contains information about:

• ACM (the ARENA Class Model, with classes, methods, and functions) • ADM (the ARENA Data Model, with database tables and columns) • AEF extension types • AEF hook modules (with detailed information and examples) • Data types (with enumerations contained in the Enums folder) • Sheet columns • Standard calculations • ASQL functions


9 System flexibility 37 of 42

The AEF entities are classified as public or private. Private entities are not recommended or not ready for general use, while public entities are fully supported, stable, and with little risk of changing. The current classification is signalled on the entity icon in the following way:

• Green dot indicates that the entity is public. • Red dot indicates that the entity is private.


• Overview: Extending Front Arena (FCA2736) • Reference: AEF Browser standalone version (FCA4033) • Developer Guide: AEF Basic Extensions (FCA3724)

9.2 Extension Editor The Extension Editor is an AEF tool which you can use to extend the ACM and hence extend and customise PRIME. For example, you can create custom calculations or customise system behaviour and defaults.

The ACM extensions is a collective name given to various types of business logic and settings implemented in the Extension Editor. It is a "soft" environment, designed to enable flexible customisation and extension of the default logic in PRIME.

In addition, PRIME contains many extension modules which are not included by default. To use the functionality of a certain extension module, you must insert that module into your user context. For more information, refer to PRIME Help (FCA1260).

Users involved in implementation and customisation (and especially in programming PRIME using the soft environment provided by the Extension Editor) need to view objects at a deeper level regarding their relationship to the conceptual framework provided by the ACM. At this level, an object can be described more accurately as an instance of a class in the ACM.

The ACM Extension Editor provides the customer access to the published part of the ACM and allows them to customise and extend the business logic with PRIME. In fact, much of the standard logic delivered with the software is defined as extensions to the ACM. This gives the customer a transparent view of the system typically hidden in the hard code and provides a good starting point for implementing user customisations.

It is possible to use the Extension Editor with various levels of knowledge. Depending on the type of implementation, you can use the Extension Editor for very simple customisations, such as changing the number of decimals displayed for a certain field. It is enough to have a good understanding of the PRIME windows to accomplish tasks such as changing the default value of an order entry field or changing the system colour applied to inactive orders.


• Developer Guide: AEF Python (FCA2831) • Developer Guide: ARENA Data Flow Language (FCA1559) • Developer Guide: AEF Basic Extensions (FCA3724)


10 Documentation, training, and support 38 of 42

10 Documentation, training, and support

10.1 FIS Client Portal The FIS Client Portal, available at my.fisglobal.com/Login, is a website of online resources for Cross-Asset Trading and Risk Platform featuring bulletins, documentation, videos, release plans, release notes, and software downloads. The FIS Client Portal is an essential source of information for developers, managers, users, application managers, system managers, and IT staff.

The FIS Client Portal is available to customers, authorised partners, FIS employees, and subcontractors.

10.2 Documentation There are more than 10,000 pages of documentation on the FIS Client Portal. Full text search across all documents is supported. Alternatively, you can browse by title, document type, component, or document ID (FCA reference).

10.3 Trading University A programme of courses, held in a variety of locations across the world, is available at www.fisglobal.com/trading-university or by contacting [email protected]. The courses can be taken individually or as a part of a programme leading to certification. Custom courses can also be tailored to suit individual learning requirements.

10.3.1 Developer certification Certification programmes for the AEF are designed to support developer customisations in Cross-Asset Trading and Risk Platform.

The certification programme structure contains several areas. The basic parts are referred to as AEF Base. Other areas for which additional training is required are referred to as AEF Advanced.

Note: Certification in AEF Base is required to get support from the FIS Client Services about the AEF Base tools and technologies.

For details about licensing, usage policy, and entitlement to support, refer to Overview: Extending Front Arena (FCA2736).

10.4 Support FIS provides global Cross-Asset Trading and Risk Platform support through regional helpdesks. For more information, contact the FIS Client Services at [email protected].

https://my.fisglobal.com/Login

https://kbase.frontarena.com/Documents

https://www.fisglobal.com/trading-university

mailto:[email protected]

http://financialsystems.sungard.com/solutions/trading-network-services/training/university/certification/aef/aef-base

http://financialsystems.sungard.com/solutions/trading-network-services/training/university/certification/aef/aef-advanced

http://financialsystems.sungard.com/solutions/trading-network-services/training/university/certification/aef/aef-advanced



11 Appendix: PRIME FCA resources 39 of 42

11 Appendix: PRIME FCA resources The following is a list of the most important currently available PRIME FCAs. For a full list of all Cross-Asset Trading and Risk Platform FCA resources, refer to Overview: Front Arena (FCA3598).

General

• PRIME Help (FCA1260) • Release Highlights: PRIME (FCA4364)

Instruments and valuation

• User Guide: Interest Rate Derivatives (FCA3913) • User Guide: Structured Equity Products (FCA4528) • User Guide: Credit Trading (FCA4170) • User Guide: Total Return Swaps (FCA4311) • User Guide: Commodity Derivative Trading (FCA4418) • User Guide: Portfolio Swaps (FCA4397) • User Guide: Dividend Derivatives (FCA4755) • User Guide: MBS/ABS (FCA3624) • User Guide: Repo Trading (FCA1475) • User Guide: Index-Linked Instruments (FCA2776) • User Guide: Fixed Income Localisation (FCA4562) • User Guide: Foreign Exchange Trading (FCA2052) • User Guide: Foreign Exchange Options Trading (FCA3959) • User Guide: Call Accounts (FCA4138) • User Guide: Single Currency Basis Curve Setup (FCA4831) • User Guide: FX Basis Curve Setup (FCA4736) • User Guide: USD OIS Curve Setup (FCA4709) • Used Guide: Synthetic Benchmarks in Yield Curves (FCA4844) • User Guide: Brazilian Swap Curve Setup (FCA4726) • User Guide: Inflation Curve Setup (FCA4786) • User Guide: IRD Volatility Setup (FCA4887) • Reference: Discounting Framework (FCA4525) • Reference: Volatility Fundamentals (FCA2340) • Reference: Absolute, Proportional, and Mixed Dividends (FCA4652) • Reference: Index-Linked Instruments (FCA4801) • Reference: User Defined Monte Carlo Templates (FCA4674) • Reference: Credit Valuation (FCA1859) • Reference: Finite Difference Solver (FCA3761) • Reference: Heston Stochastic Volatility Model (FCA4280) • Reference: Option-Adjusted Spread Model (FCA2276) • Reference: Interest Rate Derivative Valuation (FCA4497) • Reference: Valuation of American and European Options (FCA4155) • Reference: Mollification in PRIME (FCA4687)



P/L and risk

• User Guide: Historical Valuation (FCA1993) • User Guide: Risk Factor Scenarios and Value at Risk (FCA4984) • User Guide: ARENA BI – Positions (FCA4931) • User Guide: Risk Factor Setup (FCA4990) • User Guide: Fixing Risk (FCA4599) • User Guide: Profit and Loss Decomposition (FCA2488) • User Guide: ARENA Credit Limits (FCA4448) • User Guide: Profit and Loss Explain (FCA4767) • User Guide: Market Risk Reporting - ARENA Risk Cube Data Import (FCA4768) • User Guide: CVA and PFE (FCA4758) • User Guide: Interest Rate Gap Report (FCA4691) • User Guide: Clear Profit and Loss (FCA1818) • Installation: ARENA Credit Limits (FCA4594) • Reference: Profit and Loss Calculations (FCA2042) • User Guide: Collateral Management (FCA5000) • Reference: Theta Calculation Principles (FCA4198)

Electronic trading

• User Guide: Market Making (FCA1617) • User Guide: Basket Trading (FCA2054) • User Guide: OTC Deal Reporting (FCA4078) • User Guide: Automated Execution (Algorithmic Trading) (FCA4333) • User Guide: Portfolio Hedger Agent (FCA4120) • User Guide: Automated Trading (FCA4469)

Operations

• Installation: Accounting, Confirmation, and Settlement (FCA2105) • User Guide: Confirmation and Settlement (FCA2104) • User Guide: Accounting (FCA4410) • User Guide: SWIFT Messaging (FCA4322) • Reference: Front Arena SWIFT Support (FCA4437)

Technical

• User Guide: ARENA Extract (FCA1011) • Reference: Instrument Lot Calculations (FCA4576) • System Administration: PRIME (FCA1086) • System Administration: Distributed Processing Using PACE (FCA4619)

Process

• Overview: BDP Business Data Processing (FCA2324) • User Guide: Compliance Rules and Alert Management (FCA4957) • User Guide: Business Data Reconciliation (FCA4624) • User Guide: Business Data Export (FCA4665) • User Guide: Buy-Side OMS (FCA4750) • User Guide: Business Data Upload (FCA4759)



• User Guide: Business Process (FCA4636) • User Guide: BDP Dashboard (FCA4752) • User Guide: Trade Allocation (FCA1814) • User Guide: Risk-Based Routing (FCA4583) • Data Management: BDP Position Rollover (FCA4775) • Data Management: BDP Scrip Dividend (FCA4770) • Data Management: BDP Archiving and Deleting Instruments (FCA4771) • Data Management: BDP Cash Flow Aggregation (FCA4618) • Data Management: BDP P/L Sweep (FCA4656) • Data Management: BDP Exercise and Assignment (FCA1815) • Data Management: BDP Corporate Actions (FCA1817) • Data Management: BDP Fixing (FCA3765) • Data Management: BDP Mark to Market (FCA1813) • Data Management: BDP Trade Aggregation (FCA1816) • Data Management: BDP Instrument Expiry (FCA2299) • Data Management: BDP Deleting Historical Prices (FCA2862) • Data Management: BDP Trade Rollout (FCA3890)

Development

• Overview: Extending Front Arena (FCA2736) • AEL in Front Arena 4 Help (FCA4519) • ARENA Functions in Front Arena Help (FCA4131) • User Guide: APTPro Integration (FCA4608) • User Guide: Custom Instrument Definitions (FCA4516) • Developer Guide: ARENA Data Flow Language (FCA1559) • Developer Guide: AEF Basic Extensions (FCA3724) • Developer Guide: AEF Python (FCA2831) • Developer Guide: Programmatic Access to Calculated Values (FCA4102) • Developer Guide: Scenario API (FCA4725) • Developer Guide: AEF for UDMC (FCA3693) • Developer Guide: AEF for Proprietary Valuation (FCA3960) • Developer Guide: ARENA SQL (FCA1050) • Developer Guide: ACM .NET (FCA4584) • Developer Guide: Risk Functions (Alternative Evaluation of Shifted Calculation Trees)

(FCA4098) • Reference: AEF Browser standalone version (FCA4033) • Reference: AEL to ACM mapping (FCA3984) • Reference: New and Updated ACM Entities (FCA4444)

Contact the FIS Cross-Asset Trading and Risk Platform documentation team at: [email protected]
