Comparison of the two formats
Canopy UL1.0 | Canopy UL 2.0 |
|---|---|
Is a series of Excel format(s) for interacting with Engine in bulk. Each individual format does a specific type of operation including Uploading Transactions, Deleting Transactions, Uploading Prices etc. Complete complete list of functionality is here | It is a single Excel format meant only for Upload and Reconciliation of Transactions in a single workflow in Engine |
Each Canopy UL 1.0 Excel file only contains 1 tab e.g. the Create Transaction file (which is used for uploading Transactions) only has transactions and does not contain closing Positions or Historical Prices. Sample Canopy UL 1.0 Create Transaction file | Each Canopy UL 2.0 Excel file has 4 tabs i.e. Holdings, Transactions, Transaction Details and Historical Prices. A sample Canopy UL 2.0 file is enclosed here |
In case you upload Transactions through Canopy UL 1.0, any reconciliation of closing positions with the Custodian needs to be done manually (i.e. you download the closing positions and compare with those from the Custodian) | Engine offers the optional ability to do a reconciliation with Positions as per the Custodian in a single workflow (something that is not possible in Canopy UL 1.0). See Canopy UL 2.0 Upload (Step by Step) |
Any missing securities need to be created manually in a separate workflow | Engine workflow for Canopy UL 2.0 offers the optional ability to bulk create any securities that do not exist in the Canopy Security Master as of that point |
Canopy Extract does not give you output in Canopy UL 1.0. Any files need to be created manually | Canopy Extract also gives you output in Canopy UL 2.0 (which can be put into the Engine workflow). This is really convenient when parsing a PDF document |
When to use Canopy UL 1.0
Most bulk operations like create securities, create prices etc can only be done in Canopy UL 1.0
Creating transaction is the only common functionality between Canopy UL 1.0 and 2.0
Canopy UL 1.0 is a simpler format can be used for creating transactions as well (especially if the securities that you need are already in Canopy's security master)
When to use Canopy UL 2.0
This is the recommended workflow for all transaction uploads (as you get the benefit of optional reconciliation and bulk security creation workflows)
This is also quite convenient when uploading transactions from a PDF document (as Canopy Extract also provides output in Canopy UL 2.0 format)
Canopy UL 2.0 cannot be used for all other functionality in Canopy UL 1.0 (e.g. Create Securities, Create Prices etc)