Settlement Models

A settlement model is a set of settlement instructions, with each settlement instruction defined as a country, method (usually a depository), and security. Each model has an owner and a name. The data is not account-specific. You have access to the following model types:

  • Broker/Dealer models: When you maintain a model, you define your generic settlement instructions. You can create and edit your own instructions and view other broker/dealers’ instructions.
  • Investment manager models: Investment manager models contain generic model-level instructions. Investment managers attach models to different accounts, and then add account-specific instructions. Broker/dealers do not have access to investment manager models
  • Global custodian models: When a global custodian maintains instructions on behalf of an investment manager, the investment manager attaches the global custodians to their accounts and add account-specific instructions. Global custodian models are read-only.

Searching for Models and Settlement instructions

By default, ALERT inserts your own acronym in the Settlement Model Owner field.

  1. Select the Models tab.
  2. Retain the default acronym (your acronym) in the Settlement Model Owner field.
  3. Select a settlement model from the Settlement Model Name field, which ALERT populates with all models that the specified acronym owns.
  4. Use the Filter by fields to refine the search using any combination of country, method, and security.

  5. Click Search.

    ALERT displays the settlement instructions that match your search criteria. Click the columns to sort the list accordingly.

  6. Click a country name to open a settlement instruction.

Creating Models

  1. Click Create New Model.
  2. Enter a unique model name on the dialog that appears.
  3. Enter a 20-character Sell Side Legal Entity Identifier.

  4. Click Save.

    A message confirms the change.

  5. Click OK.

    The model name appears in the Settlement Model Name list.

  6. Click Create SI to add model settlement instructions to the new model.

Renaming Models

You can rename a model that your acronym owns.

  1. Select a model from the Settlement Model Name field.
  2. Click Rename Model
  3. Enter the new model name on the dialog that appears.
  4. Click Save.

  5. Click Yes on the confirmation dialog that appears.

    A message confirms the change on the Models page.

Deleting Models

You can delete a model that your acronym owns when it has no associated settlement instructions.

  1. Select a model from the Settlement Model Name field.
  2. Click Delete Model Name.
  3. Click OK on the dialog that appears.

Managing Model Settlement Instructions

When working with models that you maintain, you can create, modify, delete and deactivate model-level settlement instructions for models that you maintain. When you select a settlement model, all existing instructions for that model appear in the list.

Model-level settlement instructions contain institution and account details. The screens for creating and editing model-level settlement instructions contain the same fields.

Creating a Settlement Instruction

  1. Select the model for which you want to create instructions.
  2. Click Search.

  3. Click Create SI.

    The Create Settlement Instruction for Model screen opens.

  4. Select a unique combination of country, security, and method from the respective drop-down lists and click OK.

    The Create Settlement Instruction editor appears with the PSET pre-populated from the depository selection.

  5. Define model-level instructions on the editor that appears according to the required fields in a given market. See the Data Dictionary for details on all fields.

  6. For applicable BIC fields, either enter the BIC or search for it:

  7. Click Save.

    ALERT checks that your instructions meet the market's syntax requirements.

  8. Correct any validation errors and click OK.

    The settlement instruction appears in the Total Model SI Found section.

Editing an Existing Settlement Instruction:

  1. Click a settlement instruction in the Country list in the Total Model SI Found section.
  2. Edit the instructions on the Edit Settlement Instruction editor that appears. See the Data Dictionary for details on all fields.
  3. Click Save.

Making a Copy of an existing settlement instruction:

  1. Select a settlement instruction from the Search and Maintain Models page.
  2. Click Copy SI.
  3. In the Create Settlement Instruction for Access Code dialog box, select a unique country, method, and security combination.
  4. Edit the settlement instruction to suit your business needs.
  5. Click Save.

Delete Settlement Instructions from the Search and Maintain Models Page

  1. Select the settlement instructions to delete from Model SI Found section.
  2. Click Delete SI.
  3. Click Yes on the confirmation message that appears to delete the instructions.

Delete Settlement Instructions from the Edit Settlement Instruction Page

  1. Click Delete/Deactivate.
  2. Click Yes on the confirmation message that appears to delete the instruction.

Deleting Settlement Instructions from the Edit Settlement Instruction Page

  1. Click Delete/Deactivate.
  2. Click Yes on the confirmation message that appears to delete the instruction.

Creating/Maintaining Future Effective Settlement Instructions

  1. Create a future effective Model SI:
    1. Create an SI.
    2. Click Set Future Effective SI from the Create SI dialog.
    3. Select a future date on which the SI will become effective.
    4. Click Save.
  2. Set future effective instructions on an existing Model SI:
    1. Select a Model SI.
    2. Edit the instructions on the Edit Settlement Instructions editor.
    3. Click Set Future Effective SI from the Edit Settlement Instruction dialog.

    4. Select a future date from the calendar.

      The future effective date must be a future date within 400 days of the current date. The calendar editor only makes available future dates within 400 days of the current date available for selection.

    5. Click Save.

    Notes
    • You can edit and delete future effective SIs.
    • All future effective settlement instructions become current at 12:01 am Eastern Standard Time (EST) on the effective date. At this time, the system generates alerts for the SIs.
    • You cannot create or update future effective SIs using upload functionality.

Viewing a Counterparty's Model Settlement Instructions

You can view your counterparty’s model settlement instructions in ALERT. When you select a settlement model owned by your counterparty, all existing instructions for that model appear in the list.

By default, ALERT inserts your own acronym in the Settlement Model Owner field.

Search for Models and Settlement Instructions Your Counterparty Owns

  1. Select the Models tab.
  2. Select or enter the counterparty's Settlement Model Owner acronym.
  3. Click, or tab off from, the Settlement Model Owner acronym field.
  4. Select a settlement model from the Settlement Model Name field, which ALERT pre-populates with all models that the specified acronym owns.
  5. Use the Filter by fields to refine the search using any combination of country, method, and security.

  6. Click Search.

    ALERT displays the settlement instructions that match your search criteria. Click the columns to sort the list accordingly.

    Click a country name to open a settlement instruction.