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SmartStart Module Overview

Nightstream Controller

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FUNCTION:
 

  HWA has extensive experience with automated nightstream processing. We do this through a Nightstream Controller program that organizes the order of processing and criteria for each step.

Our largest installation using this program currently has over 100 steps in the series. Most of the steps run every night. Other steps are scheduled to automatically run every Friday or on the last business day of the month.

The person starting nightstream answers questions to control the processing for that night. For example, the quarterly fee calculation could be skipped (as it usually is), or run in test mode for a preview, or run for the live calculations.

Our clients are currently running the following types of programs in their nightstream series:
 
  • Post transactions from the daytime entry
  • Calculate daily market values for each account
  • Export to IVR (Interactive Voice Response) database
  • Export to website database
  • Analysis of short-term redemption fees for mutual funds
  • Export to institutional data feeds (positions, transactions, prices)
  • Export to modeling software
  • Update balances for daily accrual funds
  • Export for Transaction Acknowledgements to customers
  • Export for letters to customers (welcome letters, confirm change of address, etc.)
  • Prepare for custodial reconciliation
  • Export to contact management software
  • Export for marketing software
  • Generate recurring payments and process remittances (including ACH)
  • Cash Sweep
  • Post transactions for the remittances and cash sweep
  • Modeling analysis
  • Create various audit reports (including overdrawn accounts, pending free receipts, etc.)
  • Export asset list for Xcitek corporate action announcements
  • Calculate quarterly fees
  • Print all nightstream reports sorted by recipient
  Please do not feel limited by this list. Most programs that run during the day can be adapted to run automatically at night. Any report that you would like to have waiting on your printer when you walk in the door is a good candidate for nightstream.

A log report is produced showing:
 
  • the screen criteria entered (including the beginning and ending step number)
  • each step that is skipped (because of scheduling or screen commands)
  • the beginning and ending time for each step that is run
  • various metrics such as transaction count for the day
  • alerts if certain conditions are found
  The reports from each night can be archived for future reference. Some reports might be set up for electronic-only, and others for paper plus electronic.

BENEFITS:
 

   A Nightstream Controller adds value to the core system by …
 
  • automating routine calculations and reporting.
  • using network resources at night when demand is low.
  • archiving an electronic copy of the reports from each day.