Standard ALERT clients have direct access to the ALERT platform, through which they manage, maintain and communicate their SSIs with the rest of the ALERT community.
To free up valuable time and resources, buy-side clients can use the ALERT ASSIsT* program to leverage the DTCC to maintain their instructions within the ALERT platform, helping to streamline internal workflows/processes.
Sell-side broker/dealers can invite their manual buy-side clients to participate.
*This service is not available for existing ALERT clients. If you are an existing ALERT client and have questions about this, please contact your DTCC Relationship Manager.
Benefits of using ALERT ASSIsT
The benefits include:
- Storage of SSIs utilizing an industry utility platform, complete with built-in validation rules driven by the industry
- Communication of SSIs utilizing standardized message protocols enabling high volume straight through processing
- Timely acknowledgement and transmission of SSI changes, leveraging source providers, custodians and prime brokers
- Lower operational costs following a reduction in manual effort
- Reduction in operational risk resulting in reduced manual effort
- Less mismatches during the pre-matching process with a reduced risk of failed trades
- Free service to buy-side, endorsed by the sell-side
The following diagram illustrates the full steps required to onboard onto the ASSIsT program. Hover over each step to learn more.
Please complete the registration form at www.dtcc.com/data-services/alert-assist-registration. Once submitted, a representative from the DTCC will contact you regarding the next steps.
To complete the registration form, please follow the below guidance:
|Company Legal Name||This should be the parent-level Legal Entity Name|
|Company Name||This should be the affiliate/branch name. If the same as Company Legal Name, please duplicate this information|
|Company Number (or equivalent)||Legal Entity Identifier (LEI)|
|Name of Your Broker/Referrer||If you were referred to this service by a DTCC representative, please enter DTCC|
Each entity that uses the ALERT platform is identified by an acronym. The acronym is used for both the storage of SSIs and account information (for both buy-side and sell-side) and for the permissioning of access (for the sell-side).
The Access Code is the identifier assigned to an account by the investment manager. It has a maximum length of 12 characters and can contain digits 0-9 and uppercase alphabetic characters A-Z.
We will complete our compliance checks and set up an acronym within 48 hours, meaning that we're ready to start loading data from this point. The length of time to load your data will depend on the number of accounts you have, if you want to leverage the existing SSIs of a custodian or prime broker and the timeliness in the communication of data and the provision of responses to DTCC queries. To discuss more specific timeframes based on your own data and circumstances, please speak to the ALERT ASSIsT team.
If I use a custodian or a prime broker who is not a source provider, can I still use the ASSIsT Program?
Yes. In this case we will load the data of the custodian or prime broker into ALERT and maintain it on your behalf.
In order to leverage the SSIs of a GC ALERT client, a bilateral agreement needs to be in place between the GC and you, as the ALERT ASSIsT client. You will need to contact your GC client service representative and request the authorization letter from the GC which will authorize the GC to update SSIs on your behalf. This letter will then need to be forwarded to the GC representative and they will forward this to their GC Onboarding team. The DTCC ASSIsT team will coordinate the linking of the accounts with the GC Onboarding team.
|BOAMLBP - Bank of America Merrill Lynch||GSPB - Goldman Sachs International|
|CITIBP - Citigroup Global Markets Limited||JPMPB - JP Morgan Clearing Corporation|
|CSPB - Credit Suisse Securities (USA) LLC||MSIPB - Morgan Stanley & Co International PLC|
|DBIPB - Deustche Bank AG||UBSPB - UBS AG London Branch|
If you use one of the above prime brokers, then the DTCC will expect any SSI changes to be communicated by the prime broker.
In order to leverage the SSIs of a prime broker, you will need to contact us and provide the name of the prime broker and your client service representative. You will also need to provide the fund names that will be linked to each prime broker and specify if your funds trade in segregated markets. We will then reach out to our prime broker contacts to determine if they recognize the funds and they will be required to determine which PB model to leverage for each requested fund. If the funds trade in segregated markets, we will reach out and coordinate with your prime broker client service representative to provide the SSIs for these markets. Once the models have been confirmed and segregated market SSIs have been provided, we will proceed with the linking of accounts to the PB model and upload segregated market SSIs for the accounts.
Can I register for ASSIsT and then move to standard ALERT to leverage PSET matching in the CTM system?
Yes. You can implement ALERT using a staggered approach, firstly onboarding through ASSIsT and then at a later stage we can move you to a standard ALERT contract.