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The ALERT Global Custodian Direct (GC Direct) workflow automates the exchange of standing settlement instructions (SSIs) between a custodian's central repository and the ALERT host using dedicated ISO 20022 compliant messages. This enhanced custodian/prime broker access enables the global custodian/prime broker to become the owner and maintainer of the SSI data, effectively creating the "golden copy" of SSI data within the ALERT platform.

This area of the Learning Center has been organized to provide general learning materials to support GC Direct (GCD), as well as specific learning materials that cater for the different client types that can be involved in the implementation of GCD - global custodians, investment managers and regional custodians or trustees.

 

Parties Involved in GCD Process

Custodian

The global custodian (GC) becomes the owner and maintainer of the SI data (SI controller) through a direct connection to the ALERT database. When the investment manager links their account (Access Code) to the GC as the SI Controller, the GC will submit SSIs for the account and the investment manager is notified of the new SSIs through an Alert message. From this point forward, the GC is responsible for updating and maintaining the SSIs for that account.

More detailed information about the roles and responsibilities of a GC in this workflow can be found at GCD for Global Custodians.

Investment Manager

When the investment manager makes the GC the SI Controller, they must also supply their A/C# at Global Custodian so thatt when the GC submits the SSIs, this account number will be added. Once the GC-maintained SSIs are available on the account, the investment manager can:

1. Update the A/C# at Global Custodian

2. Add other account specific information which they own, such as Interested Party Data

The investment manager is also responsible for granting access to their brokers and maintaining this acces.

More detailed information about the roles and responsibilities of an investment manager in this workflow can be found at GCD for Investment Managers. Of particular importance is the Pre-GCD Conversion Process.

Regional Custodian / Trusee

Regional Custodians/Trustees own the custody relationship with investment managers. They manage local SSIs while leveraging a global custodian's network to access global markets. As a result, investment managers do not have a direct relationship with the global custodian for these accounts.

In this workflow, the investment manager assigns their account to the regional custodian who in turn assigns the account to the global custodian. The global custodian supplies SSIs for open markets, whilst the regional custodian supplies SSIs for markets not maintained by the global custodian.

More detailed information about the roles and responsibilities of a regional custodian/trustee can be found at GCD for Regional Custodians/Trustees.


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The below table outlines which custodians are already live on GCD with the countries, securities and methods they support (last updated 24-Jun-2019).

Custodian name  Acronym Collateral supported? Excluded countries Supported security types via GCD Excluded methods BICs in use via GCD
BBH BBHGCD Y N/A

EQU / COB / TRY /

FX / CSH / MMT /

GDR / CON / 

Alternate security types

Universal

BBHCUS33XXX

BBHCUS33BOS

BBHCUS33LUX

BNY Mellon BNYGCD N N/A

EQU / COB / TRY/ 

TBI

CLS

Universal

IRVTBEBBXXX

IRVTBEBBDCP

IRVTUS3NXXX

IRVTUS3NIBK

Citibank CITIGCD N N/A

EQU / COB / TRY / 

FX / MMT / MSC

CLS

Universal 

CITILULXXXX

CITIGB2LXXX

CITIUS33XXX 

HSBC

HSS01GCD

HSS02GCD

N N/A

EQU / COB / TRY / 

FX / CSH / MMT

CLS 

Universal

HSBCHKHIXXX

HSBCHKHHGCA

MIDLGB22XXX

HSBCHKHHGCC

BBDAHKHXXXX

BBDASGSXXXX

BBDABMHMXXX

BBDABMHPXXX

BBDALULXXXX

JP Morgan JPMGCD N N/A

EQU / COB / TRY / 

FX / CSH / MMT

GDR / CON /

Alternate security types

CLS

Universal

CHASGB2LXXX

CHASUS33XXX

CHASLULXXXX

CHASGB2LTPA

CHASUS33IVS

CHASNOKKOSL

Northern Trust NTGCD N

BR; CL; CN; CO; 

CR; EQ; GR; IN; 

SA; KR; TW; TZ;

TR; AE; UA; VE;

VN; CI; ZW

EQU / COB / TRY /

FX / CSH / MMT

CLS

Universal

CNORGB22XXX

CNORUS44XXX

State Street SSBGCD N N/A

EQU / COB / TRY / 

FX / CSH / MMT / 

MSC

CLS

Universal

SBOSUS3FXXX

SBOSUS3CXXX

SBOSGB2XXXX

SBOSHKHXXXX

SBOSUS3NXXX

SBOSAU2XXXX

SBOSUS33XXX

SBOSCATXXXX

SBOSUS3XXXX

Sumitomo SMTBGCD N N/A

EQU / COB / TRY / 

MMT / MBS / GNM / 

FRM / FNM / AGS / 

NSD / BAS / FIN 

CLS

Universal

STUSUS33XXX

STBCLULLXXX


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