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Framesoft PRIIPs KID GENERATOR (FPG) is a software application that supports financial institutions to comply with the PRIIPs KID Regulation, which came into force in all EU member states on 29 December 2014.

From 31 December 2016, manufacturers and distributors of packaged retail and insurance-based investment products are challenged to provide Investors with a new type of document, the Key Information Document (“KID”) in order to comply with the PRIIPs (Packaged Retail & Insurance-based Investment Products) KID Regulation (“REGULATION (EU) No 1286/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL”).

FPG permits a PRIIP manufacturer to set up, manage and generate all required KIDs by virtue of FPG’s template administration functionality. As well, the manufacturer can decide to “white label” the product KIDs and supply them to intermediaries, if so required and legally permitted.

KIDs in general need to follow a number of rules and formatting prescriptions set out in the regulation. FPG is ideally prepared to cope with these requirements, as well as it is flexible enough to be updated and reconfigured in case of amendments to the regulations in force.

FPG

KIDs Document Set Up

When setting up a KID, the document administrator can rely on a number of tools and functions in FPG.

The manufacturer can create the PRIIP’s KID via modelling of a Template structure by defining elements to be inserted following the sequence laid out by the regulation.

FPG covers the requirements as spelled out by the regulation conforming to Article 6, e.g.:

  • Header with product name, required issuer information etc., taking into account market specific product names and corresponding language dependencies.
  • Product objectives and the means for achieving them, e.g. by  
    • direct or indirect exposure to the underlying investment assets,
    • description of the underlying instruments or reference values,
    • specification of the markets the PRIIP invests in etc.
  • Risk Section “What are the risks and what could I get in return”, including treatment of topics required by the regulation, e.g.
    • summary risk indicator
    • possible maximum loss of invested capital
    • appropriate performance scenarios
    • where applicable, information on conditions for returns and scenarios exemplifying risks
    • taxation statement
  • Language Compatibility: Product KIDs can be set up such that translation into other languages can be performed on the basis of a single template.
  • Issuer Default Risk Section covering all descriptive elements required by the regulation
  • Applicable Cost Section in order to inform investors about the expected and potential cost of the investment
  • Recommended Holding Period and Restrictions Section with applicable Subsections, as spelled out by the regulation

KID Setup - scalable & flexible

FPG provides easy copy and paste, as well as reusability of template sections where applicable or desired.

A hierarchical Template Structure is supported by virtue of unlimited database support of template importing

At the same time, all future reviews and amendments of the regulation can be quickly realized using FPGs powerful template editing and scripting tools.

FPG is based on Framesoft Structured Products (FSP)

FPG has been built upon the solid foundation of Framesoft Structured Products (FSP), which provides the complete tool set for defining & treating Structured Products Issues.

  • Template Editor with full integration of database and scripting functionality
  • Text block assembly configurator for high speed product management and creation of multi-languagedocumentation templates
  • Sophisticated and extendable data financial products data model for fast and easy set-up of new products and static data requirements
  • Static Data repository administration
  • Generic Web Service Interface for the configuration of document generation requests
  • Complete Audit Trail
  • Document Archive for Audit Safe storage of all request handling data and related, generated documentation
  • Sophisticated overview screens for the management and control of the documentation generation process
  • Organizational Structures are reflected in the Administration of users, groups and profiles
  • Approval Process Management supporting the complete workflow of new issuance, documentation and data management
  • Finely grained privilege management system with role & user based authorization to handle access to folders, documents and fields

Integration Beyond Organizational Borders

  • Straight Through Processing (STP) achievable by provision of complete data model and integration of FSP into existing corporate legacy infrastructure
  • Application Integration with Sales Pricer or Risk Management, as well as an internal Contract Management solution (e.g. Framesoft Contract Repository (FCR) for Master Agreement Management)
  • Completely configurable set of distribution channels to internal and external information providers, corporate web sites, exchanges, legacy applications, etc.
  • Automatic e-Mail creation for distribution of documentation and related information.
  • Integration of OTC transactions as a part of FSP trades and issues on request (if required)

High Speed Product & Documentation Management

  • Matrix management of mandatory & optional documentation and its approval as well as distribution channels dependent on the issue or product type
  • Form assembly management modules for high speed management and creation of product data capture screens
  • High speed & volume server side document generation as well as parallel generation of large documents (e.g. > 1.000 pages)
  • Scenario Analysis embedded
  • Charts / Graphics based on real time data

 

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