Why?

• Use the Model Tolerance tool to review the post trade allocation of a portfolio from the orders grid. This will update when changes are made to trades after analytics is run. 

• Review any level of the model at a time, and show current, target, post-trade for percent, dollars, and shares.

• An order has to be created on the portfolio to use this tool.

 

 

How?

Location: Eclipse > Trades > Orders > Right hand side bar > Select the model tolerance (crosshairs icon).

 

• Analytics bar: This will show if the portfolio’s analytics is good, needs analytics, or if analytics failed.  If analytics are good, begin reviewing the portfolios trades.  If analytics is needed, select “Run Now” to run analytics.  If analytics failed, click on the banner to review the error.
  • Review the Eclipse Analytics Errors Troubleshooting Guide for help on analytic errors.

 

 

 

• Header: The user can select the Security, Security Set, Sub Class, Class, or Category (Node) level to review on the portfolio.  If there is not a level in the model, it will not display as a level to review.

 

• Graph:
  • The name of the portfolio appears at the top.
  • The node name is displayed on the left hand side. Hovering over the node name will display the full name.
  • The percentage drift for tolerances and post trade value appears at the bottom.
  • The middle line represents the targeted percentage for each node.
  • The clear blue lines represent the tolerance bands for each node. The solid lines represent the post trade value for the specific node.  A blue line means the node is in tolerance, a red line means the node is out of tolerance.  If there is no line, that means the node is balanced exactly to target.
  • Unassigned will always appear at the top of the grid and cash will always appear second to the top of the grid. Unassigned securities are any securities that the clients owns and are not in the model.
  • Hovering over the line will display the node name, the targeted %, the range for tolerance bands, and the post trade %.

 

• Grid:
  • The user can shift from percentage, dollars, or shares.
  • The name column will display the node name.
  • Current will display the value of the node prior to any trading.
  • Target will display the targeted value of the node.
  • Difference will display the difference between the current and target.
  • Post Trade will display the value of the node post trade.
  • Cash will always display at the top of the grid, and unassigned will always appear at the bottom of the grid.  Unassigned securities are any securities that the clients owns and are not in the model.

 

• Cash:  Cash will always appear as a line item for the portfolio.  If  cash is targeted in a node in the model, cash will be removed from the node so it can display as its own line item.  A second line item may appear for the node.
  • Example:  A node in the model called “Money Market” in the model which targets 5% custodial cash and 5% a money market mutual fund ABCXX.  In the model tolerance, there will be a line item for CASH at 5% and a line item for Money Market at 5%, because custodial cash is removed from the node.