Successful implementation of digital securities accounting by CSL Corporate Services Establishment and ONE PM AG

What is meant by eWeBu, a digitalised securities accounting system?

All financial transactions of a digital bank interface are automatically booked daily with a very high level of detail. This involves an individual valuation for the profit and loss account, with income and costs being recognised separately and posted to the FIBU system accordingly.

What was your role in the project?

My role in the project was the digitalisation of securities accounting from a technical perspective. In other words, I worked closely with our Senior Developer. We translated business requirements into the language of IT. 

You were previously Managing Director of First Accounting and FDS Financial Services. Was the switch to IT a big challenge?

The practice from the past is a very important part of my new role, it forms the foundation for it. The main challenge was to cover all areas and record all processes so that the new solution was complete. I particularly enjoy working with our IT experts. I was able to learn a lot from the IT experts in the structured approach, as it is extremely important to know and visualise the requirements right from the start.

What profit calculation and valuation methods does eWeBu offer?

Currently, the profits and losses realised are reported using the average method, but FIFO and LIFO will also be examined at a later date.
In terms of valuation methods, you can choose between acquisition value, market value or lowest value. 

What happens if a securities purchase has to be adjusted retrospectively, but a purchase has already taken place at a later date? This changes the cost price and therefore also the profit calculation on sale. Is such a change possible?

Retroactive changes in eWeBu are possible at any time. The portfolio is recalculated and the cost price is adjusted. We are also planning to introduce freeze periods in order to block certain periods for retroactive postings after a FNA export has taken place.

Does the solution also show value adjustments on unrealised profit/loss postings?

Absolutely. eWeBu provides unrealised gains and losses on an individual basis. This means that each security in the portfolio is valued individually at the market price and, if applicable, the exchange rate on the reporting date.

How are transactions unrelated to securities treated in the solution? 

Performance-neutral transactions, such as deposits and withdrawals, are initially posted to a transitory account. If desired, these transactions can also be pre-assigned. Otherwise, the transitory account can then be posted to the corresponding accounts in financial accounting by the accountant. 

Everyone is talking about digitalisation. What advantages do you see in eWeBu?

The advantages of eWeBu are obvious: daily updated posting and evaluation, automated quality assurance, cost savings through outsourcing, increased reporting options, reduction of standard work and more time for customer-oriented tasks.

Has the project already been completed? If not, what are you still working on today?

It will soon be finished - we are on the home straight. Certain special transactions are still being processed, but we are convinced that these will also be booked smoothly in the next few weeks. 

Thank you very much, Rita, for the interesting information on the project.

The interview was conducted by Tino Kesseli, Head IT with Rita Zogg, Digitalisation Accounting & Finance at CSL Corporate Services Est.