Hermes Online Stock Trading System is currently in its second version following the success of Hermes v1.0, which was developed back in 1999 and it was the first system of its kind in Cyprus. Hermes v2.0 is a web-based application for managing all operations related to online stock brokerage services. The system's core is an MS-SQL server database where all data and associated business logic resides. Hermes tightly integrates with Access Accounts Dimensions (Dot.Cy's accounting software solution), ATLAS Brokerage (brokerage back office system) and the Cyprus Stock Exchange's stock quotes and order status/trade execution real-time feed.
System Integration The system integrates with stock brokerage back office systems for acquiring data such as account information, agent/asset manager information, transactional information, details on securities available for trading, stock and bond balances information and other vital information for the provision of online trading capabilities. Cash balances on client portfolios can be retrieved either from the broker's accounting sub-system or directly from the back office system. Hermes in essence provides the methods for single point management, administration, and complex business logic implementation of all online trading related operations while at the same time interfaces with the back office and accounting sub-systems in use by the broker for extracting vital information required for online trading operations.
Order Execution The type of orders supported by Hermes can vary considerable based on the facilities provided by the particular stock exchange to which the orders will be routed. Full support is currently provided for Quantity rules (Fill All, Fill Any, Hidden Quantity etc), Duration rules (Day order, session order, pre-session order), and Time-Validity rules (Good till date, good till cancel).
All orders entered are validated against customer's cash and stock balances while also taking into account, in real time, all intraday orders and transactions. Full correctness and validity of orders placed is made possible via Hermes full proof validations and permissions engine. Various reports are available to aid monitoring the order status (open order, partially matched, fully matched, amended, withdrawn etc) as well as order execution progress. A great range of features, such as order modification and withdrawal are provided (based on stock exchange trading platform).
Reporting The system provides a great range of predefined reports such as intraday and historic order and trade reports, accounting statements, portfolio performance and valuation, contract notes printing and others. A number of reports can be delivered to the customer via email. System customization allows the creation of any kind of report as needed by the stock brokerage firm.
Security The system has its own user management module which allows the definition of online trading users which can be subsequently connected to account and/or agent codes in the ATLAS back office system. Through this functionality, an online trading user can have access to multiple account codes. This is very useful for asset managers, family accounts, and joined accounts. All system modules as well as sub-modules and options are permission driven allowing the administrator to define tight access rights to each user or user group. The permissions definition process is made easy by providing the administrator with the necessary tools for the creation of user groups and permission templates, something that greatly simplifies the system's security management.
Other Features Modules such as SMS alerts, online real-time chat with other investors, agents and advisors, online requests for cash withdrawal, real-time stock exchange quotes, reporting based on the web edition of Crystal Reports, ability to receive client reports on demand via electronic mail and other powerful features that enhance the user's online trading experience are also provided.
Dot.Cy's expertise in financial applications, as well as the fact that Hermes is used by the largest stock brokerage and asset management firm in Cyprus, gives us the confidence that Hermes v2.0 will meet your company's current and future online stock trading requirements
For a demo of Hermes v2.0 please contact us to arrange a product presentation and discuss further your company's requirements.
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