Organization
This page contains all relevant terminology regarding Organizations.
Organization
Definition
An Organization is a company that has a role in managing the Giro administration.
Relevant endpoints
- GET /Organizations/{type}
- GET /OrganizationGetById/{type}/{organizationId}
- POST /OrganizationAdd
- PUT /OrganizationUpdate
- DELETE /OrganizationDeleteById/{type}/{organizationId}
- GET /OrganizationLogoGetById/{type}/{organizationId}
- PUT /OrganizationLogoUpsert/{type}
- DELETE /OrganizationLogoDeleteById/{type}/{organizationId}
GiroProvider
Definition
A GiroProvider is a type of Organization. A GiroProvider is a customer of PENGINE that manages/administers a giro administration for itself or for other companies.
Client
Definition
A Client is a type of Organization that is a customer of a GiroProvider. It is possible for a GiroProvider to also be a Client. In this case it serves as a Business Process Outsource (BPO) supplier to multiple clients. The client, in this case, has the license to run a giro-like investment business.
Label
Definition
A Label is a type of Organization. It is a brand that a Client operates in the market. A financial institution can run multiple giro-like investment businesses in the market. The labels should be administered separately because they are individual entities.
LabelSettings
Definition
Each Label must specify their own LabelSettings. With these, a Label can specify:
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With how many decimals (≥2 and ≤6) they want to express different kinds of numeric values (such as Cash, AssetUnits and AssetPrices).
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Whether they want to use Sequence WFM (see ~Sequence Bridge MS~).
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Which reference types require approval and which type of approval is required for each of these. The type of approval is either ‘Compare’ or ‘Blind’. With Blind approval the approver needs to enter the same data as the creator of the item without seeing the item that needs to be approved. With Compare approval the item that needs to be approved just needs to be verified by the approver.
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Whether there is automatic cash return. This means that if a CAMT.053 allocation is not possible due to the source BankAccount not being related to any InvestorAccount the unallocated amount will automatically be returned to the source BankAccount.
LabelLedger
Definition
See the Ledger page for its definition. LabelLedgers are the Label’s counterpart of Investors’ CashLedgers. These are all different types of LabelLedgers:
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Main (the Ledger to/from which money can be transferred from/to a BankAccount, also called the “OmnibusBankAccount” (OBA)).
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Results (for counting profits and losses from investing).
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Charged costs (for counting income from transaction fees).
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Unallocated (for counting money that has already been transferred to a Label’s BankAccount, but of which it is not yet clear which Investor it is from, for example because the Investor has not been registered yet or because of transactions that are not coming from a specific Investor such as market payments and broker fees).
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In transfer (for counting money that has been reserved to be transferred to a BankAccount by having been exported to a SEPA.XML file, but of which the receival has not been verified yet).
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Clearance (for clearing of Ledgers, see ‘The Double Entry Counting Method’ mentioned below).
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Dividend (for counting Dividend that has been reserved before payout to Investors).
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Dividend tax (for counting tax over Dividends).
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Correction results (if cash has been allocated to the wrong InvestorAccount, this needs to be corrected. Because cash cannot be moved directly from one InvestorAccount’s main CashLedger to another’s, it is first moved to the ‘~CorrectionResults~’ LabelLedger and then moved from there to the main CashLedger of the correct InvestorAccount.)