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requirements:use-cases:use-case-client-onboarding [2016/11/01 14:41]
Jeremy Sevareid created - migrated from old wiki
requirements:use-cases:use-case-client-onboarding [2016/11/02 13:00] (current)
Jeremy Sevareid Amend - migrated legacy wiki formatting
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-FIXME+====== Client Onboarding of a Buy-Side Fund by a Broker/​Dealer ======
  
-# Client Onboarding of a Buy-Side Fund by a Broker/​Dealer+===== Section 1 Intro =====
  
-## Section 1 - Intro +==== Business Problem / Opportunity ​====
- +
-### Business Problem / Opportunity+
  
 When a mutual fund or pension fund wants to buy or sell stocks, bonds or options, they will typically conduct the transactions through a broker/​dealer. Before the fund can start trading through the broker/​dealer,​ they need to establish a formal, legally-recognized business relationship. When a mutual fund or pension fund wants to buy or sell stocks, bonds or options, they will typically conduct the transactions through a broker/​dealer. Before the fund can start trading through the broker/​dealer,​ they need to establish a formal, legally-recognized business relationship.
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 The process for establishing this relationship is known as, "​Client Onboarding."​ It is a complex, heavily regulated, costly, risky and manually intensive process. Participants,​ the industry and the general public could benefit from faster, more automated and more certain boostrapping of these formal trading relationships. The process for establishing this relationship is known as, "​Client Onboarding."​ It is a complex, heavily regulated, costly, risky and manually intensive process. Participants,​ the industry and the general public could benefit from faster, more automated and more certain boostrapping of these formal trading relationships.
  
-### Current Solution+==== Current Solution ​====
  
 The current approach to client onboarding of funds by broker/​dealers typically involves a combination of processes, data and documents spread out across multiple departments,​ systems and firms. For example: The current approach to client onboarding of funds by broker/​dealers typically involves a combination of processes, data and documents spread out across multiple departments,​ systems and firms. For example:
  
-* Sales & Trading +  ​ Sales & Trading 
-* New Business +   New Business 
-* Know-Your-Customer (KYC) / Anti-Money Laundering (AML) / Office of Foreign Assets Control (OFAC)'​s list of Specially Designated Nationals and Blocked Persons +   Know-Your-Customer (KYC) / Anti-Money Laundering (AML) / Office of Foreign Assets Control (OFAC)'​s list of Specially Designated Nationals and Blocked Persons 
-* Account Opening +   Account Opening 
-* Risk +   Risk 
-* Legal +   Legal 
-* Operations +   Operations 
-* Collateral Management+   Collateral Management
  
-### Why a Blockchain?+==== Why a Blockchain? ​====
  
 Blockchains could be applied in several different areas to improve client onboarding. For example: Blockchains could be applied in several different areas to improve client onboarding. For example:
  
-* Legal Entity Identifier - Provide an internal and external mechanism to record and lookup unique identifiers for parties to the transactions +  ​ Legal Entity Identifier - Provide an internal and external mechanism to record and lookup unique identifiers for parties to the transactions 
-* AML/​KYC/​OFAC - Transition OFAC list from a list of textual aliases to governement-issued PKI identifiers for certainty of either whitelist or blacklist lookup and provide non-reputiatable mechanism that check was made and when and by whom +   AML/​KYC/​OFAC - Transition OFAC list from a list of textual aliases to governement-issued PKI identifiers for certainty of either whitelist or blacklist lookup and provide non-reputiatable mechanism that check was made and when and by whom 
-* New Business Committee - Provide non-repudiatable,​ immuttable record for audit and regulatory purposes of who signed off based upon what documentation for establishing the relationships +   New Business Committee - Provide non-repudiatable,​ immuttable record for audit and regulatory purposes of who signed off based upon what documentation for establishing the relationships 
-* Legal - Provide a formal, networked mechanism for e-signatures among counterparties,​ for signing authority attestation and for document transmission and formal legal notices +   Legal - Provide a formal, networked mechanism for e-signatures among counterparties,​ for signing authority attestation and for document transmission and formal legal notices 
-* Ready-to-trade - Provide clear, formal, auditable internal and external mechanism to signal formal readiness for trading to begin+   Ready-to-trade - Provide clear, formal, auditable internal and external mechanism to signal formal readiness for trading to begin
  
-### User Stories+==== User Stories ​====
  
 TBD TBD
  
-### Opportunity/​Justification+==== Opportunity/​Justification ​====
  
 TBD TBD
  
-***+----
  
-## Section 2 - States and Transactions+===== Section 2 - States and Transactions ​=====
  
 TBD TBD
  
-***+----
  
-## Section 3 - Requirements+===== Section 3 - Requirements ​=====
  
 TBD TBD
  
-***+----
  
  
-### External References+==== External References ​====
  
 TBD TBD
  
-### Glossary/​Appendices+==== Glossary/​Appendices ​====
  
-***+----
  
requirements/use-cases/use-case-client-onboarding.txt · Last modified: 2016/11/02 13:00 by Jeremy Sevareid