Core Processes, Systems and Structures
Depending on the market we trade and operate in, the following systems are currently used by F-wise Capital:
Risk management systems
F-wise Capital developed an in-house risk management system which provides the following:
- Risk measurement.
- Risk profiling.
- Position profiles.
- Profit and Loss determination.
Procedures
As a member of the IRC Market of the JSE, F-wise Capital must adhere to the rules of the Exchange and ultimately the Financial Services Conduct Authority Board (FSCA), which prescribes procedures to be followed.
As a licensed Financial Service Provider (FSP), F-wise Capital must adhere to the rules of the Financial Services Conduct Authority (FSCA), which prescribes procedures to be followed, including FICA and anti-money laundering processes.
In addition to this F-wise Capital also has procedures regarding:
- Trading limits.
- Document flow.
- Administration.
Front office systems
- Traders make use of JSE’s Nutron front-end, Avvento and the DIRO (API) Trading System.
- Different bank applications for trading spot forex transactions and forward contracts.
Back office systems
The financial and administrative staff of F-wise Capital provide the following:
- Easy client registration.
- Opening of Exchange accounts and bank accounts within 24 hours of meeting clients.
- Booking fees report.
- Daily account summary
- Profit and loss determination on a daily basis.
Information systems
Reuter’s system which provides:
- Reports on international market information.
- Online international exchange rates.
- News articles of importance to the forex industry.
- Bank’s Forex trading and pricing systems
- Independent Forex risk solutions provided by 3rd party
- Different bank applications for trading spot forex transactions and forward contracts.
GOVERNANCE
F-wise Capital (Pty) Ltd which is a subsidiary of Farmwise Grains (Pty) Ltd, owned: 60% by Farmwise Grains and 40% by Warren Geers (Managing Director), is a member of JSE. F–wise Capital is a member of all of the JSE’s derivative markets and therefore has to abide by the rules of the JSE. This includes the rules regarding ethics and conduct that governs aspects such as:
- Conduct
- Advertising
- Reporting of contraventions
- Insider trading, and
- Clearing and settlement
KING III
F-wise Capital (Pty) Ltd is committed to the principles of transparency, integrity, fairness and accountability as advocated in the King Code of Governance Principles (“King III”).