XPLAN Datafeeds: HUB24 Enhancements (v4.3) 29 October 2021
HUB24 Enhancements: 29 October 2021 |
HUB24 have released enhancements to their XPLAN EPI 4.3 datafeeds, to be effective 15 November 2021. Below is the information directly from HUB24 on the enhancements.
The Individual Holding extract is where the holdings are presented at the aggregate of all underlying account portfolios. That is if a security is
held under more than one portfolios, the holding is presented once. This is how HUB24 manages the account tax parcels, providing tax benefit to
the beneficial owner when they sell down a holding in one of the portfolios, it can be allocated to parcels brought from other portfolios in the same
account.
The Portfolio extract is where the holdings are presented in the portfolio where they are held in. This is the how the client or adviser view and
trade their holdings. But because sale event can be allocated to holdings from other portfolios, cost bases in this extract is not accurate
representation of the tax parcels and hence not provided in the data feed.
Adviser may choose to receive the data in either of the above types. This option is available when the user generates EPI credentials in
AdviserHUB. However, beginning from EPI 4.3, the receiving software (financial planning software, accounting software) may choose either to
follow the adviser’s choice or to override the adviser choice to receive a particular data feed extract type only. In EPI 4.3, HUB24 also provides
the extract type in the response so that the receiving software may be able to identify if adviser has made changes to the extract type and
perform a full refresh if required.
One benefit of HUB24 EPI 4.3 data feed that is common to both types of extract is that the data in EPI 4.3 reflects near real time of transactions
as they are entered or processed in the HUB24 Platform. This is in contrast to the 1 - 2 business day delays (depending on the time the data feed
is requested). How the user benefits from this will depend on how and the frequency of the EPI client requesting data from HUB24.
Below highlights the high level improvements in both type of data feed compared to the previous EPI 4.0.
Individual Holding
- Unsettled cash movements (unpaid income transactions, pending equity trade settlements) are provided as new holding
(EPICASHACCRUAL).
- Cash reserves movements (pending managed fund buy trades, pending placement or share purchase plan trades) are provided
(EPICASHRESERVE).
- In-specie transfer transactions are provided at individual parcels with cost base date and cost base amount provided.
- Corporate action transactions that involve carrying original tax parcels or tax parcel dates across holdings (splits/consolidations, some
mergers/takeovers, rights issue, bonus issue, option issue) are provided at individual parcels to reflect the correct cost base date and
cost base amount where relevant.
- For income transaction, separate fields are provided to reflect the transaction date (when the income is accrued) and tax date (when the
income is taxable).
- Granular income tax components are provided for all income transactions. These are provided in HUB24-defined tax component labels
as EPI 4.3 allows free definition by EPI data provider. These are then mapped to the relevant software tax components on the receiving
end.
- International securities are provided with the actual exchange identifier correctly identified.
- International securities transactions are provided in AUD but with the effective FX rate supplied.
Portfolio
- Underlying holdings of managed portfolios, including nested portfolios (managed portfolios inside another managed portfolios) are
provided, including the name of the managed portfolio wrapper. Complete movement and income transactions for these holdings are
provided.
- For income transaction, separate fields are provided to reflect the transaction date (when the income is accrued) and tax date (when the
income is taxable).
- Granular income tax components are provided for all income transactions. These are provided in HUB24-defined tax component labels
as EPI 4.3 allows free definition by EPI data provider. These are then mapped to the relevant software tax components on the receiving
end.
- International securities are provided with the actual exchange identifier correctly identified.
- International securities transactions are provided in AUD but with the effective FX rate supplied.
Pros and Cons of Individual Holding vs Portfolio
Individual Holding | Portfolio |
Holdings, including cash, have their transactions aggregated
together. For cash holdings, it include movements within the cash
account and managed portfolio cash holdings in the same EPICASH,
EPICASHACCRUAL, and EPICASHRESERVE holdings. | Underlying holdings breakdown can be represented, depending on
the receiving software ability to represent these portfolios |
Cost bases and tax parcels are represented correctly, including inspecie tax parcels. | Cost base data is not passed through and not able to be
reconstructed from the EPI data without additional data entry on the
receiving software, except for a basic buy and sell transactions that
occur within the HUB24 custody, i.e. excluding in-specie transfers
and corporate actions. |
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