存’s Institutional Trade Processing (ITP) is helping clients achieve a no-touch processing workflow by making vast improvements to its services on the way to creating one integrated platform for all 帖子-trade activity.
存管连接 recently met with Moira Kiernan, 据导演, 警报 Product Management, to discuss Global Custodian Web (GC Web) – a web-based version of 警报’s Global Custodian Direct (GCD) workflow.
What is the new 警报® Global Custodian Web functionality and why is it important to the industry?
MK: GC Web is a new service that allows smaller custodians to take part in the custodian managed Standing 结算 Instruction (SSI) model provided through 警报 by maintaining SSI data directly on a web-based platform.
因为它是基于网络的, GC Web does not require the direct integration and robust technology build that GCD does. This allows smaller custodians and their clients to benefit from all the efficiencies of the 警报 platform that wasn’t feasible with GCD.
为什么要创建GC Web?
MK: One of our main goals is for 警报® to achieve 100% SSI coverage in all markets and asset classes, and to ultimately have that data maintained by source providers like custodians and prime brokers. SSIs are a primary cause of trade fails and having source providers maintain SSI data within 警报 has proven to decrease risks from industry initiatives such as CSDR and T+1.
警报’s GCD workflow is the gold standard for custodians to maintain data on behalf of their underlying clients and allows for utilization of all the efficiencies provided by the 警报 platform, like data automation and centralization. 然而, because of the time and resources needed to build to this workflow, it wasn’t as practical for smaller firms. 考虑到这一点, we introduced GC Web to allow smaller custodians, as well as investment managers and brokers, to benefit from the efficiencies gained from the use of the 警报 platform without the lift of direct integration.
Today, nine global custodians are using GCD, with two more in the process of adopting the technology. This covers 90% of asset coverage within 警报. To facilitate full coverage, we also offer a variety of vehicles for data providers to utilize the 警报 workflow, including Regional Custodian/Trust Bank model, and 警报 for Primes model as well as several managed services.
What are the benefits of 警报 Global Custodian Web?
MK: GC Web provides the same benefits of GCD, including access to the world’s largest community of SSI database subscribers, automated enrichment of SSI and account information, real-time data validation against the latest industry standards, and increased data quality through multiple levels of authorization.
另外, 警报 can be used to enrich trades on 存’s 中医, the industry standard for central trade matching. Further benefits include real time enrichment, 黄金源数据, and access to more than11 million SSIs, 1,800 live buy-side firms and 1,200家经纪交易商.
To learn more about Global Custodian Web, please 联系我们.