SHAREPRO MIGRATION FAQ
If you are moving from existing software to SharePro, there are several questions as to how, when and what the migration process is. In all probability, you may have already migrated from another system to the existing one after a lot of hard and frustrating work and with limited success. So, as in most cases, you have already lived the Hell of a migration. This document is going to allay your fears and explain all the questions bombarding you.
- Have you migrated other brokers into SharePro from other systems?
Yes. In fact, most of our clients have migrated from other systems and from almost all the systems available in the country today. As such, we have vast experience in how to migrate and are already aware of the difficulties that we may face. Over the years, StanSoft has built a library of migration tools that help us to shift clients to our system quickly. If we have already migrated anyone from your back office system, you are in luck, as your migration will not require the discovery process of studying the data structures of your existing system.
Will an existing migration tool make our migration perfect?
In most cases, yes. But remember that our migration tools are made on a need basis. If you use any extra functionality in your existing back-office, which was not used by the earlier users, we may have to build on the migration tool a little more.Will migration be magic?
No. Though most of the migration will be automated, a part of the process, like Account head mapping, etc., is done manually. So this requires the complete involvement of our teams and yours. And yes, migration is often a frustrating and hard process requiring rechecks and revisions. But relax, our tools migrate incrementally (that they can be run repeatedly till the final date of switching to SharePro).
What is the process of migration in StanSoft?
The whole migration is done step-by-step with each stage having significance. They are as follows:
a. Preliminary Migration
The Migration is kickstarted by first establishing a direct VPN connection to the already created SharePro Databases and the Databases [or their copies] of your existing backoffice system. If not already available, a migration tool will be programmed. At this stage, data will be migrated from your existing system to SharePro.
b. Parallel RunYou will be required to run random checks on the accuracy of the migration. You will also run parallel runs and process day trades, run brokerages, generate contracts, print reports, and match with your existing system. With the help of your team and ours, we will go to as much depth of comparison as possible.
c.Final Migration
You shall continue your parallel run, as far as possible, and connect to our support team for help. A few days before the final migration date, our team connect to you and migrate data one last time.d. Handholding
Crunchtime! From this point, our team will help you to do actual processing – payouts, payins, etc.,- in SharePro. We will handhold all your processes and take you through the steps of using SharePro in the live environment.Cut-off Date. What is that?
We prefer to migrate brokers from a cut-off date. This is a pre-decided date when we make our final switch from an existing BO to SharePro. A lot of data is migrated as on the cut-off date minus one. Let us see what is migrated
| 1 | Client Master Name, Address, Registration Details, Pan, Passport, Bank Details, DP Details, etc. |
| 2 | Brokerage Settings for Clients/Baskets Complete brokerage settings for Delivery, Trading, Daily1, Daily2, Futures, Options, Expiry, etc., including specific brokerages at Instrument or Underlying level |
| 3 | Branches Branch list with addresses and mapping with Client |
| 4 | AP/Dealer/RM/Family Groups List of APs/RMs,etc. with addresses and other information along with mapping with |
| 5 | AP Commission Settings Settings for segment-wise sharing and Commission settings |
| 6 | Account Heads The existing Balance sheet of the system is mapped to New Structured Account Heads and organized between General and Sub-Ledgers. This mapping is done manually by our experts and your Accounting team. Account Heads are migrated based on this mapping. |
| 7 | Account Balance Migration Based on the mapping of Account Heads in (6), the balances of all Account Heads, including Clients, Banks, etc., are migrated from the old system to the new. |
| 8 | Stocks in Margin Accounts The shares of Clients lying with us in the Margin Accounts and stocks in Pro Beneficiary Account will be migrated into the new system |
| 9 | Derivative, Currency and Commodity Net Open Positions We do not migrate these positions, but rather manually generate these positions based on any one of the following procedures: a) Import of Position files or b) Processing of actually trades for the last 3-4 months for the unexpired contracts |
| 10 | DP Charge Baskets and their Charge settings the Charges in the DP segment, along with their Mapping to clients is migrated from XLS sheets generated from the existing system |
| 11 | DP Client Master, POA Master and Signatures These are simply imported fresh from files available in the Depository System |
| 12 | DP Slip Inventory and Used Slips The stock of DP Slips, along with details of used slips is migrated from the XLS sheets generated from the old system. |
| 13 | Ledger Balances in the DP system Usually these are migrated from ASCII reports generated from the existing system, however, if connectivity to an existing database is available, optionally, it is migrated using code
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| 14 | Pledged Stocks PSN wise We shall take the starting stocks of Pledged securities PSN wise and get them into the system |
In a cut-off migration, the Balances etc., are migrated for cut-off-date-minus-one. The reports for the year available to the clients have to be partly taken from the earlier system and partly from SharePro for the rest of the year. Though it sounds disadvantageous, often this is the only kind of migration possible.
6. Can we migrate Data from the 1st of April?
Applicable to brokers migraine mid-year
Yes, it is possible, albeit with a little more hard work. A back office system does not only contain trades, but it also contains the sum total of hundreds of activities – Trades, contracts, charges, Payins, Payouts, exchange Reportings, Client reportings, vars, Closing Rates, Quarterly settlement records, DP Slip issues, and so on. It is extremely difficult, if not impossible, to port everything as is. For instance, if an inspection were to ask for a justification of exchange reporting on a particular date, it will require the stocks of a client as on that date in our Margin Accounts, his SPAN Requirement figures, the exchange vars applicable then, the closing rates on that date, and other factors. Realistically, this is difficult to accomplish.
However, as a fix, certain information can be migrated (unfortunately at an extra cost), to ensure a continuity where a client does not have to switch systems to get the full-year reports. The information that can be migrated optionally is:
| 1 | Raw Trades Raw trades in all segments will be migrated into SharePro from 1st April onwards. This brings some sense to reports like LTCG, etc. However, it may still not be possible to print back-dated contracts from SharePro |
| 2 | Raw Ledger Entries Entries, as currently reflected in the Books, can be migrated as is, without any processing into SharePro. “Without Processing” here means that we do not re-run any calculations but bring in data as is. Note that this migration is based on the Account Head Mapping in (6). In other words, Bank Books, and Journals are migrated as-is |
| 3 | Contract Note information with Charges It may be possible to also migrate individual Contract Note charges and Number information along with Contract-wise, Segment level charges. However, this will depend on how data is stored in the existing system. |
7. Can I successfully get through inspections from the data migrated prior to 1st April?
No. An inspection team can ask for a million combinations of information which may not be possible to migrate. For instance, the inspection team may want to verify the value of collateral uploaded in Margin Reporting as on a given date, and this information may not be available from the migrated data.