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An important part of settlement processing is monitoring your transaction activities and position value throughout the day.
Activities
Your activities and money involving securities are recorded by DTC on your Participant Daily Activity Statement available from the PBS SMART/Search facility as well as the Participant Account Statement in the Settlement Web. You can also verify activities via the Activity Inquiry function in the Settlement Web. Several views of position are available allowing you to reconcile your data with DTC’s records. All activities carry with them Activity codes which describe a DTC service such as deliver orders.
Example:
The Activity code that identifies and tracks deliver orders is code “26.”
What is a Reason Code?
A Reason code defines the movement of shares or monies. Reason codes are used for processing, record-keeping, and for client reconciliation. Any time a client inputs a DO, PO, or collateral loan, a reason is indicated.
When doing an audit to compare to your internal records, you can sort by Reason codes to insure our system will match your records. Reason codes are also useful in the identification of DKs (don’t knows).
Example:
A client makes a stock loan using the correct Reason code of “10.” If a distribution becomes payable, the client will receive this allocation.
Position
Several views of client security position are available in the Settlement Web interface.
- Position Inquiry – displays your current and historical position for a DTC-eligible security across activity categories (such as pledged, segregated, and stock loan/repo shares to name a few).
- Participant Activity Research Tool - shows daily shares/face value across all counterparties or a breakdown of one counterparty. This aggregated view allows research at the account and entity level by activity and asset type. A Collateral Loan search allows you to look up the prior day’s closing balances, market value, and outstanding loan details for any open pledges at your firm. A Journal History option provides a list of historical journal accounts at the CUSIP or date level. Journal entries are DTC Operations’ manually generated entries (usually a one-sided entry) done to balance accounts.
Note: It is the sole responsibility of DTC clients to perform a daily reconciliation of their activity and positions with the information, reports and statements provided by DTC.
Example:
A client submitted a stock loan request utilizing the Deliver Order Input function. To check the status of the stock loan position they will use the Position Inquiry function.
For more information:
- Settlement Web Help. Refer to the Participant Activity Research Tool and the Activity Inquiry sections.