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SHARE ACCOUNTING
BACK-OFFICE SOFTWARE: Hyper Stock
Comprehensive back office
share-accounting software for stock brokers
Tuesday, August 03, 2004
If you are a share broker then HyperStock, a share
accounting back office software from HyperSoft
Technologies, may be worth your attention. Its
Windows/RDBMS software is based on Gupta SQL platform,
which offers back office solutions for stock broking
operations. Broadly it covers capital markets,
commodities, futures and options, share accounting and
Demat.
The interface is simple and any menu item can be
reached in two or three clicks and it's possible to get
the lowest relevant details as well. The software
supports all text formats such as CSV, DAT and TXT given
by different exchanges. The licenses are as per server
basis that means, any broker house operating with
multiple broking cards doesn't have to pay more. Though
for commodities market there is an extra charge. There
is a facility of electronically signed contract notes,
which can be very useful in institutional
trades.
The user is mapped to a particular stock exchange.
But one can deal with multiple exchanges also, using
this software, permission can be granted for different
levels of transaction. Other competing products support
only two-three exchanges. A good security feature is
that users can also be mapped to clients.
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A
Demat account includes different items for
reconciliation detailed report generation of
general ledger
accounts | | |
Coming to the basics, the software complies with the
normal needs of financial accounting systems that
include cash/bank receipts and payments. The definition
of chart of accounts takes a very simple route that
includes setting up of balance sheets and profit and
loss schedules at this stage itself. Some minor
limitations such as disallowance of mapping of a simple
account to multiple schedules should be attended to in
future versions.
In the domain of broking operations, it permits you
to define settlement dates, record dates and book
closures. You can define margin rates and closing rates
for a scrip just as you can create a sauda and also do a
sauda reversal. It also has the ability to mark
deliveries so that the pending delivery lists may be
pulled out. Definition of differential derivatives
client prefix is another great feature that can lead to
some very powerful billing features.
The software allows full compatibility with Demat
account operations including complete export and import
of items. The Demat account features are quite
exhaustive and include different items for
reconciliation. One fantastic feature is that there is
the possibility to add items to MIS reports. Competitors
are based on Foxpro (DOS), Visual Foxpro and DOS, which
have limitation in terms of catering to large data and
transactions. So, virtually it does not have any
competition as apparently there are no such packages on
RDBMS front. In that case even the price may not be too
high. However, the claim that the product can be Web
enabled could not be validated because its scope and
cost are still under wraps. The broker business is
subject to stringent vigilance from regulatory bodies
and new protocols are announced on a frequent basis such
as the transaction tax in this budget. This software
provides free updates to all such regulatory
changes.
The bottom line: Overall, it's a comprehensive
package covering almost everything in the accounting
domain of most brokerage houses.
Gautam Mukherjee with Sudarshana Mishra
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