MICS (Multiple Instrument Clearing System) has been developed to automate the clearing function at end of day.
By providing a fully automated and customizable front end solution, clients gain full access to their daily traded information. The system ensures full automation for the calculation of booking fees in which ever structure required, i.e. flat fee per deal, per contract, percentage of value of deal or percentage of the value of the deal at the end of day. MICS calculates Mark to Market (profit and loss).
Mark to market is broken down into two sections:
Deal mark to market that pertains to the profit and loss made on deals done on the day.
Position mark to market that pertains to the profit and loss made on open positions for the day