Methodos Reconciliation System Forex Trading

MRS

MRS (Methodos Reconciliation System) is a tool specially developed to support financial institutions in their effort to effectively automate the process of conducting client money reconciliations and identifying, investigating, and clearing unreconciled items, integrating all information on client transactions and fund movements, reconciliation results and reconciliation reports, into a single solution. MRS combines powerful document and process management with a monitoring and decision support system that enables organizations to reconcile internal and external records of clients' money in a simple and efficient manner.

An ideal system for all FX companies

Increase Productivity,
Lower Cost,
Meet Deadlines

Methodos Reconciliation System (MRS) has been designed and developed to improve operations efficiently and provide greater performance results for your business. It helps reconcile your company's books with payment methods and keep them balanced. MRS offers user friendly manual matching and fast auto matching mechanism making the process even easier and quicker.

The system prepares powerful reports, giving you control over critical decisions.

Ideal for detecting and locating errors and un-recorded transactions with daily checks. The effective monitoring and control reduces errors and saves time due to its automatic methods.

Simple and easy, MRS has the ability to ensure your company's smooth operation.

MRS provides an automated, user friendly manual matching mechanism transferring reconciliation from a complex to fast and easy. The system addresses the reconciliation needs for companies of all sizes, in order to provide a state of the art transaction management control. This application, helps in the smooth operation of reconciling the transactions recorder in your books with the transactions reported by the financial institutions that you work with.

With MRS intelligence and flexibility, you can ensure that your accounts are reconciled, matched, balanced and reported on a daily basis.

Compliant to Regulations

Cyprus Regulator (CYSEC) has launched a number of regulations and mandate policies against CIF companies, following the weaknesses identified on onsite inspections and with the increasing number of investment companies in Cyprus.

MRS performs daily and monthly full reconciliations, so at any time the system can justify and confirm that customer balances per currency sustains the same as the payment method balance. It can also locate and detect differences that might occur.

More importantly, CySec has increased its legislation and procedures on the management of client money bank deposits of CIF.

Some procedures include:

• Protection of client money deposits
• CIF own funds
• Minimize the impact of bail in on the deposit of the Investor compensation fund

Section 18 (2) (j) of Law 144 (1) 2007: [...] "When holding funds belonging to clients, a CIF must make adequate arrangements to safeguard the clients rights, prevent the use of client funds for its own account." [...]

Directive DI 144-2007-01 par 18 (c): [...] "a CIF must conduct on a regular basis reconciliation between its internal accounts and records and those of any third parties by whom those assets are held. -Keep records and accounts as are necessary to enable it at any time and without delay to distinguish assets held for are client from assets held for any other client and from its own assets. -Maintain its records and accounts in any way that ensures their accuracy and in particular to the correspondence to the financial instruments and funds held for clients" [...].

Therefore, reconciliation of transactions is an essential action that has to be performed on a daily basis. Reconciliation of transactions is one of the most important action that investment companies need to undertake.