ALERT FOR TRUSTEE GUIDE TO GC DIRECT ONBOARDING MAY 01, 2018

Transcription

1 ALERT FOR TRUSTEE GUIDE TO GC DIRECT ONBOARDING MAY 01, 2018

2 Copyright 2018 DTCC. All rights reserved. This work (including, without limitation, all text, images, logos, compilation and design) is proprietary and protected by copyright, and is for the exclusive use of users authorized by DTCC. If this work is received from DTCC in any electronic medium, authorized users of this work are granted a limited, non-exclusive, nontransferable, non-sublicensable and freely revocable license to make reproductions and transmissions necessary for downloading and storage of this work on the users' computers and to print one or more paper copies from the electronic version for their own use. Other than to this limited extent, no part of this work (including any paper copies thereof or print versions thereof) may be printed, copied, altered, modified, posted, reproduced, displayed, published, sold, licensed, used or distributed (including by transmission) in any form or by any means, or stored in any information storage and retrieval system, without DTCC's prior written permission. All product or service names are the property of their respective owners. The services described herein are provided under the DTCC brand name by certain affiliates of The Depository Trust & Clearing Corporation ( DTCC ). DTCC itself does not provide such services. Each of these affiliates is a separate legal entity, subject to the laws and regulations of the particular country or countries in which such entity operates. Please see for more information on DTCC, its affiliates and the services they offer. Publication Code: AL451 Service: ALERT for Title: Guide to GC Direct Onboarding

3 TABLE OF CONTENTS Preface 5 Related Documents and Training 5 Questions? 5 1. GC Direct Workflow 6 Overview 6 Key Benefits 6 2. Onboarding Access Codes to GC Direct 7 Investment Manager/ Responsibilities 7 Data Search Functionality 7 Settlement Instruction (SI) Controller 7 Link a GC Direct Acronym in the SI Controller Field 7 Unlinking a GC DIRECT Acronym in the SI Controller Field 11 Unlinking a Acronym in the SI Controller Field 11 Levels of Clearing 11 Security Types 12 Cash (CSH) and Foreign Exchange (F/X) 12 New Markets 12 Future Effective Date 12 Alerts: Discarding and Merging 12 Merging Examples Onboarding Workflow Onboarding Steps 15 Step 1: Create a Pre-Onboarding Extract 15 How to Create a Pre-Onboarding Extract 15 Utilities Data Search User Interface 15 Step 2: Approve Account 16 Step 3: Change the SI Controller (Manual) 18 How to Change the SI Controller 18

4 Accounts - Settlement Instructions User Interface 19 Remove Account-Specific Data Confirmation 19 Updating A/C Global Custodian 20 Success Message for GC Direct 20 Step 4: Monitor Progress 21 How to Monitor GCD Progress 21 Monitor Alerts Tab 22 Accounts Tab Details 22 Step 5: Review the Post-Onboarding Extract 23 How to Review the SSI Data Ongoing Monitoring Workflow 24 ALERT User Interface - Monitoring Steps 25 Monitor Alerts from the Home Page 26 Alerts Summary by SI Controller 26 SI Details 27

5 ALERT for Guide to GC Direct Onboarding PREFACE Related Documents and Training For related documents and videos, and all documents referenced in this document, go to the Institutional Trade Processing - ALERT Learning Center. Questions? The DTCC Client Center provides general assistance and technical help. Visit to: Enter a service request or check Search the knowledge base Obtain contact information Preface 5

6 ALERT for Guide to GC Direct Onboarding 1. GC DIRECT WORKFLOW This document focuses on GC Direct information, the onboarding steps required to implement GC Direct, and the SSI monitoring process for trustees. Overview The 2015 Global Custodian workflow ("GC Direct") release enabled automated exchange of Standing Settlement Instructions (SSIs) between a Custodian s central repository and the ALERT platform application using ISO compliant messages. This functionality enhanced custodian/prime broker access (GC Direct), enabling the global custodian/prime broker to become the owner and maintainer of the SSI data by creating the golden copy on the ALERT platform. The 2017 trustee workflow release enables investment managers and trustees to jointly leverage the GC Direct workflow. This access allows for trustees to maintain an electronic signature of account approval and the assignment of SSI data ownership. By adopting this new model, investment managers and trustees place the responsibility of SSI maintenance and distribution with the global custodian/prime broker. This model brings greater automation and efficiency to the process and reduces the operational burden. Key Benefits The key benefits of GC Direct are: Improved Data Quality: SSIs are sent from the data source the custodian/prime broker. Validated Settlement Instructions: Market rules and validations are enforced by the ALERT platform, which reduces the risk of passing inaccurate or incomplete instructions to clients. Simplified Client Onboarding: At account opening, clients request settlement instructions through the ALERT platform, and the custodian/prime broker sends the instructions to the ALERT platform. This solution greatly reduces the manual intervention required to provide instructions to clients. Reduced Manual Effort, Lowered Operational Costs, and Added Security: Automating the manual process of sending SSIs by not only saves all parties time, but also lowers their operational costs and improves security by providing an auditable trail. New SSI Message Standard: Prior to GC Direct no accepted messaging standard existed that could support all SSIs. This initiative sets the standard. GC Direct Workflow 6

7 ALERT for Guide to GC Direct Onboarding 2. ONBOARDING ACCESS CODES TO GC DIRECT Investment Manager/ Responsibilities DTCC recommends that global custodians, trustees and investment managers simulate a GC Direct onboarding in the ALERT platform Client Test environment prior to onboarding in Production An investment manager should: Obtain user interface access the ALERT platform Client Test environment ( Participate in completing a GC DIRECT test plan Understand the concepts and tools described in this document Have expertise in SMPG and ALERT platform best practices Work with trustees on Service Level Agreements Support Production conversion and SSI monitoring responsibilities A trustee should: Obtain user interface access the ALERT platform Client Test environment ( Participate in completing a GC DIRECT test plan Understand the concepts and tools described in this document Have expertise in SMPG and ALERT platform best practices Work with Investment Managers and Custodians on Service Level Agreements Support Production conversion and SSI monitoring responsibilities Data Search Functionality The ALERT platform offers a web-based tool to export ALERT data to Excel (.xlsx) format. The exported files allow investment managers and trustees to reconcile their SSI instructions by comparing pre- and postconversion data values. Settlement Instruction (SI) Controller The SI Controller is the owner acronym for an access code s settlement instructions. The SI Controller acronym can be a(n): IM Web acronym (with or without a Model Name) GC Web acronym (with a Model Name) GC Direct acronym (with an GC) Link a GC Direct Acronym in the SI Controller Field After an investment manager assigns a trustee to an account, only the trustee can attach the SI controller; the investment manager does not have access to assign the SI controller. Once a GC Direct acronym is assigned to an access code, the ALERT platform deletes all existing settlement instructions from the access code. The GC Direct Acronym becomes the owner and maintainer of ALERT platform SSI data on behalf of their clients. When the global custodian submits SSI data to the ALERT platform, neither the investment manager nor the trustee can edit data designated as settlement related. Non-editable fields include: DTC Settlement: Agent Bank and INST/Broker ID fields are owned by the GC. Local market IDs: GCD owns all Local Market ID fields (except CLS). Onboarding Access Codes to GC Direct 7

8 ALERT for Guide to GC Direct Onboarding Agent Name and Addresses: If the GCD provides an Agent BIC Code within the SSI, The ALERT platform ignores Agent Name and Address for settlement purposes. Therefore, the investment manager cannot append this information to the settlement instruction. Table 2.1 Ownership of SSI Data Fields Field Name Field Label Field Description Input By ID1 Depository Bank Code 1 Global Custodian ID2 ID2 Bank Code 2 Global Custodian ID3 ID3 Bank Code 3 Global Custodian ID4 ID4 ID4 Global Custodian ID5 ID5 ID5 Global Custodian Participant Name 1 Participant 1 Participant 1 Global Custodian Participant Name 2 Participant 2 Participant 2 Global Custodian A/CRef1 A/CRef1 A/CRef1 Global Custodian A/CRef2 A/CRef Con't A/CRef Con't Global Custodian A/C# at Global Custodian Global Custodian IM s Global Custodian Global Custodian A/C # at Local Agent A/C # at Local Agent Final Beneficiary A/C#/IBAN Global Custodian CashA/CNumber Cash A/C # Cash A/C # Global Custodian Payment Currency Settlement Currency Settlement Currency Global Custodian Alternate Currency Alternate Currency Alternate Currency Global Custodian Alternate CashA/CNumber Alt Cash A/C# Alt Cash A/C# Global Custodian PSET PSET PSET Global Custodian Settlement Contact Settlement Contact Settlement Contact Global Custodian Settlement Phone Settlement Phone Settlement Phone Global Custodian Special Instr 1 Special Instructions 1 Special Instructions 1 Global Custodian Special Instr 2 Special Instructions Cont'd Special Instructions Cont'd Global Custodian Custodian BIC Custodian BIC BIC Global Custodian CustodianAddress1 CustodianAddress1 Address 1 Global Custodian CustodianAddress2 Custodian Cont'd Address 2 Global Custodian Custodian City Custodian City City Global Custodian Custodian State/Province Custodian State/Province State/Province Global Custodian Custodian Country Custodian Country Country Global Custodian Custodian PostCode Custodian PostCode PostCode Global Custodian Sub Agent Address 1 Sub Agent Address 1 Address 1 Global Custodian Sub Agent Address 2 Sub Agent Cont'd Address Cont'd Global Custodian Sub Agent Bic Sub Agent Bic Receiving Agent BIC Global Custodian Sub Agent City Sub Agent City Receiving Agent City Global Custodian Sub Agent Country Sub Agent Country Receiving Agent Country Global Custodian Onboarding Access Codes to GC Direct 8

9 ALERT for Guide to GC Direct Onboarding Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By Sub Agent State/Province Sub Agent State/Province Receiving Agent State/Province Global Custodian Sub Agent Name 1 Sub Agent Name 1 Receiving Agent Name 1 Global Custodian Sub Agent Name 2 Sub Agent Name 2 Receiving Agent Name Cont'd Global Custodian Sub Agent Post Code Sub Agent Post Code Post Code Global Custodian Relationship Relationship Relationship Global Custodian Reg Address 1 Reg Address 1 Address 1 Global Custodian Reg Address 2 Reg Address 2 Address Cont'd Global Custodian Reg BIC Reg BIC BIC Global Custodian Reg City Reg City City Global Custodian Reg Country Reg Country Country Global Custodian Reg State/Province Reg State/Province State/Province Global Custodian Reg Name 1 Reg Name 1 Name 1 Global Custodian Sub A/C Ref 1 Sub A/C Ref Beneficiary Additional Info Global Custodian Sub A/C Ref 2 Sub A/C Ref Cont'd Beneficiary Additional Info Global Custodian Sub Agent Address 1 Address 1 Address 1 Global Custodian Sub Agent Address 2 Address Cont'd Address Cont'd Global Custodian Sub Agent Bic BIC Receiving Agent BIC Global Custodian Sub Agent City City City Global Custodian Sub Agent Country Country Country Global Custodian Sub Agent State/Province State/Province State/Province Global Custodian Sub Agent Name 1 Name 1 Receiving Agent Name Global Custodian Sub Agent Name 2 Sub Agent Name 2 Name Cont'd Global Custodian Sub Agent Post Code Sub Agent Post Code Post Code Global Custodian CorrespName1 Name 1 Name 1 Global Custodian CorrespName2 Name 2 Name 2 Global Custodian Corresp BIC BIC BIC Global Custodian CorrespAddress1 Address 1 Address 1 Global Custodian CorrespAddress2 Address Cont'd Address Cont'd Global Custodian Corresp City City City Global Custodian Corresp Country Country Country Global Custodian Corresp State/Province State/Province State/Province Global Custodian Corresp PostCode Post Code Post Code Global Custodian CorrespCashA/CNumber CorrespCashA/CNumber CorrespCashA/CNumber Global Custodian CorrespSecA/CNumber CorrespSecA/CNumber CorresSecA/CNumber Global Custodian Onboarding Access Codes to GC Direct 9

10 ALERT for Guide to GC Direct Onboarding Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By A/C# A/C Global Custodian A/C Global Custodian Investment Manager Agent ID Agent ID Agent ID Investment Manager Institution ID Institution ID Institution ID Investment Manager I/P 1 A/C # A/C # A/C # Investment Manager I/P 1 BIC BIC BIC Investment Manager I/P 1 Contact Contact Contact Investment Manager I/P 1 ID ID ID Investment Manager I/P 1 Name Name Name Investment Manager I/P 1 Phone Phone Phone Investment Manager I/P 1 Special Instr Spec Instr 1 Spec Instr 1 Investment Manager I/P 1 Special Instr Spec Instr 2 Spec Instr 2 Investment Manager I/P 2 A/C # A/C # A/C # Investment Manager I/P 2 BIC BIC BIC Investment Manager I/P 2 Contact Contact Contact Investment Manager I/P 2 ID ID ID Investment Manager I/P 2 Name Name Name Investment Manager I/P 2 Phone Phone Phone Investment Manager I/P 2 Special Instr Spec Instr 1 Spec Instr 1 Investment Manager I/P 2 Special Instr Spec Instr 2 Spec Instr 2 Investment Manager I/P 3 A/C # A/C # A/C # Investment Manager I/P 3 BIC BIC BIC Investment Manager I/P 3 Contact Contact Contact Investment Manager I/P 3 ID ID ID Investment Manager I/P 3 Name Name Name Investment Manager I/P 3 Phone Phone Phone Investment Manager I/P 3 Special Instr Spec Instr 1 Spec Instr 1 Investment Manager I/P 3 Special Instr Spec Instr 2 Spec Instr 2 Investment Manager Institution BIC BIC BIC Investment Manager Institution Contact Contact Contact Investment Manager Institution Name Name Name Investment Manager Institution Phone Phone Phone Investment Manager I/P 3 A/C # A/C # A/C # Investment Manager I/P 3 BIC BIC BIC Investment Manager I/P 3 Contact Contact Contact Investment Manager I/P 3 ID ID ID Investment Manager I/P 3 Name Name Name Investment Manager Onboarding Access Codes to GC Direct 10

11 ALERT for Guide to GC Direct Onboarding Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By I/P 3 Phone Phone Phone Investment Manager I/P 3 Special Instr Spec Instr 1 Spec Instr 1 Investment Manager I/P 3 Special Instr Spec Instr 2 Spec Instr 2 Investment Manager Institution BIC BIC BIC Investment Manager Institution Contact Contact Contact Investment Manager Institution Name Name Name Investment Manager Institution Phone Phone Phone Investment Manager Unlinking a GC DIRECT Acronym in the SI Controller Field 1. Unlinking a GC Direct Acronym is only allowed by a trustee for trustee accounts. Investment managers cannot unlink a trustee account from GC Direct acronym. 2. The ALERT platform deletes all existing GCD settlement instructions from the access code once a GC Direct acronym is removed from the SI Controller field. 3. The GC Direct acronym no longer has control of any SSIs for the access code. 4. The trustee can attach a new SI Controller (IM Web, GC Web, or another GC Direct acronym). Currently, a trustee can attach only another GCD acronym. Unlinking a Acronym in the SI Controller Field 1. The ALERT platform removes the link between trustee acronym and the GC Direct acronym once you remove the GC Direct acronym from the SI Controller field. 2. The ALERT platform deletes all existing GCD settlement instructions from the access code once you remove a GC Direct acronym from the SI Controller field. 3. The GC Direct acronym no longer has control of any SSIs for the access code. 4. The trustee can attach a new GC Direct SI Controller. Levels of Clearing Global custodians establish a network in which to settle trades in each market. The ALERT platform stores data for all relevant parties in the settlement chain. Levels of Clearing # Levels of Clearing Parties involved in Settlement ALERT SSI BIC Fields 1 Global Custodian Local Agent BIC and Custodian BIC fields will be populated 'with the same value. 2 Local Agent Bank and Global Custodian Local Agent BIC field will be populated with the Local Agent BIC. Custodian BIC field will be populated with the Custodian BIC. 3 Local Agent Bank, Intermediary and Global Custodian Local Agent BIC field will be populated with the Local Agent BIC. Intermediary BIC field will be populated with the Intermediary BIC. Custodian BIC field will be populated with the Custodian BIC. Onboarding Access Codes to GC Direct 11

12 ALERT for Guide to GC Direct Onboarding Security Types We recommend that GC Direct Acronyms maintain a minimum of three basic security types for each market: Equity (EQU) Fixed Income (COB) Government Bonds (TRY). Check with your custodian to see if other security types, such as Money Market (MMT), are supported. Cash (CSH) and Foreign Exchange (F/X) Check with your custodian to see if Cash Settlement Instructions will be supported by GC Direct. If they are not, the investment managers must continue to manage cash instructions using Account Specific Settlement Instructions. CSH Security Type: Recommended for straight cash payments SSIs or SSIs to cover derivative transactions F/X Security Type: Recommended for foreign exchange related SSIs Preferred ALERT platform Method = CASH The exceptions are: o US foreign exchange Federal Reserve payments. In this case, FEDWIRE is the preferred ALERT platform method type. o F/X settling through the Continuous Link System. In this case, CLS is the preferred ALERT platform method type. New Markets If an investment manager opens a new market post-conversion to GC Direct, and for some reason the global custodian cannot submit instructions electronically in a timely manner, the investment manager needs to create the SSIs using the ALERT platform's web interface. Future Effective Date Global custodians can supply a future effective (FE) date on GC Direct SSIs. The future effective SSI is visible on the ALERT platform's web interface to the investment manager, but not to the brokers who have access to the account (until midnight EST of the effective date). We recommend that custodians use an asof Settlement Date when populating future effective SSIs on the ALERT platform. Alerts: Discarding and Merging Alerts are generated to notify a party of relevant information. They are available for seven days before they are automatically discarded. This functionality was extended to support GC Direct activity. An account alert is generated to an investment manager when a GC Direct Acronym creates, edits, or deletes an SSI that impacts an investment manager's access code. These alerts are visible on the Alerts tab on the ALERT platform's web interface. The alert merging function consolidates multiple changes for the same SSI. When alerts are triggered for the same SSI (country-security-method), the alerts may merge or be discarded, with only the relevant one displayed. To effectively utilize alerting for GC Direct conversion, you must view and discard alerts on a daily basis. Merging Examples 1. A NEW: DTC Alert followed by a CHG: DTC Alert will discard the second (change) Alert and keep only the NEW:DTC Alert. Onboarding Access Codes to GC Direct 12

13 ALERT for Guide to GC Direct Onboarding 2. A CHG: DTC Alert followed by another CHG: DTC Alert will merge and the first CHG: DTC Alert will remain. Onboarding Access Codes to GC Direct 13

14 ALERT for Guide to GC Direct Onboarding 3. ONBOARDING WORKFLOW Figure 3.1 is a workflow diagram that provides an overview of the steps required for onboarding an investment manager's access codes to GC Direct. Figure 3.1 ALERT for GC Direct Onboarding (Generic Flow - may change per custodian) Onboarding Workflow 14

15 4. ONBOARDING STEPS Step 1: Create a Pre-Onboarding Extract Since SSIs are deleted when a trustee initiates the conversion to GC Direct, investment managers and/or trustees should create a backup SSI file prior to Onboarding. This step is only recommended if the Account code has previously been managed on the ALERT platform. Uses for the backup file include: Pre- to post-conversion reconciliation Complete or partial rollback of SI Controller changes Investment Manager Upload of markets not supported by the GC Direct acronym such as cash instructions How to Create a Pre-Onboarding Extract The steps in Table 4.1 describe how to create an export file with Settlement Instruction data from the ALERT platform. Table 4.1 Creating an Export File with ALALERTERT Settlement Instruction Data Actor Action Expected Results by IM IM/trustee IM/trustee IM/trustee IM/trustee IM/trustee Navigate to theutilities tab and selects Data Search Account SI Data from the menu Verify that the investment manager a Acronym is present in the Settlement Instruction Controller field and click Search. For more information, see Utilities Data Search User Interface below. Click the Save to Excel button, enter a Report name and clicks OK. The ALERT platform sends an when the Report/Extract is complete. Navigate to the Reports Run page from the Utilities tab and click on the report. Save the Excel file locally for SSI verification, post conversion. Suggested file name: <IM Acronym> SSIs pre-conversion as of <date>. List of Account SIs for the IM/trustee Acronym. The ALERT platform begins processing the report/extract. SSI details will be downloaded to Excel. The file may need to be altered if more than one model name is populated. Utilities Data Search User Interface

16 Figure 4.1 Data Search User Interface Step 2: Approve Account The trustee and the investment managers must each complete the account setup on the ALERT platformfor the trustee account to be active. Table 4.2 Approving a Account Actor Action Expected Results by IM Investment manager Investment manager Investment manager Investment manager Navigate to the Accounts tab and create a new account Populates the account details and click Next. Enable the trustee workflow by selecting the check box. The user populates the Acronym and A/C The Access Code is displayed. The user views the SI Controller / SI List page The Acronym and are enabled.

17 Once a trustee is assigned to an account, trustee users receive an and an alert electronic notification. Here is the sample text of the Hello: Table 4.3 Alerts A new Access Code has been assigned to your acronym. Please log into ALERT to take further action. Assigner: Test Institution Regional Custodian: NEW-APP Omgeo ALERT Please do not reply to this . This message was sent to you using an automated system. This alias is not monitored for replies. If you have any questions please contact Omgeo Support. ================================================== Copyright (c) 2014 Omgeo LLC. All rights reserved. Omgeo is a registered service mark of Omgeo LLC. All names of Omgeo services appearing herein are either registered service marks or service marks of Omgeo LLC in the United States and elsewhere. Actor Action Expected Results by Navigate to the Alerts tab and select Investment Manager Alerts. Select the investment manager Acronym by clicking on the link in the Number of Alerts column Select the New Account alert for the appropriate account. Review the account information and the A/C The search results grid populates with investment manager Acronyms that have assigned the trustee to one of their accounts.(figure 4.2) The trustee navigates to the Alerts Summary Filtered by Acronym page. (Figure 4.3). The New Account alert pop up window appears (Figure 4.4). Click the Approve or Reject button. The user is returned to the Alerts Summary filtered by acronym page. Figure 4.2 Alerts Summary

18 Figure 4.3 Alerts Summary Filtered by Acronym Figure 4.4 NEW: TRUSTEE ACCOUNT Popup window Step 3: Change the SI Controller (Manual) The trustee changes the SI Controller for each Access Code to a GC Direct Acronym and inputs the Account at GC. How to Change the SI Controller The steps in Table 4.4 describe how to change the SI Controller for an Access Code in Omgeo ALERT. Table 4.4 Changing the SI Controller Actor Action Expected Results by IM Navigate to the Accounts tab, search by Access Code or Click on the Access Code hyperlink, and navigate to the Settlement Instruction section for the access code. The Access Code is displayed. The user views the SI Controller / SI List page

19 Table 4.4 Changing the SI Controller (continued) Actor Action Expected Results by IM Select the Settlement Instructions tab. For more information, see Link a GC Direct Acronym in the SI Controller Field on page 9. The application will warn you that this will delete existing Settlement Instructions. Click Delete Settlement Instructions Repeat these steps for each access code you are Onboarding to GC Direct. The system deletes settlement instructions. The Access Code is successfully linked to GCD Acronym and Account at Global Custodian. For more information, see Success Message for GC Direct on the next page.. Accounts - Settlement Instructions User Interface Figure 4.5 Settlement Instructions User Interface Remove Account-Specific Data Confirmation Figure 4.6 Remove Account-Specific Data Confirmation

20 Updating A/C Global Custodian Figure 4.7 Updating A/C Global Custodian Success Message for GC Direct Figure 4.8 Success Message for GC Direct

21 Step 4: Monitor Progress s can monitor Access Codes that have been converted to a GC Direct Acronym and whose SSIs have been linked to the fund. How to Monitor GCD Progress Table 4.5 Monitoring GCD Progress Actor Action Expected Results by IM The trustee monitors progress of Access Codes converted using the Accounts Search by GCD status tool on the Accounts tab. The trustee monitors SSIs submitted by the Global Custodian within the Alerts tab. In Retrieval status means the Access Code has been assigned but the GC has not retrieved the request. Pending status means the GC has retrieved the account but no SIs for the related funds have been linked to the access code. Once the GC has sent in one successful SI for each account, the Pending Counts should be zero. s can monitor the Alerts tab to review the SSIs received by the GC Rejected status means the GC has rejected the request. The trustee must correct the A/C at GC or contact the GC for next steps. Within the Alerts tab, choose the GC Direct Acronym to view a detail listing of SI alerts. To review the details of the SI, click on the hyperlink under the Changes column. Discard alerts once reviewed. At any time, the SI details can also be found by searching for the access code under the Accounts tab, navigating to the Settlement Instruction section. For more information, see Accounts Tab Details on page 23 (x-ref) Click on the Country hyperlink to view the SI details The icon denotes the SI is owned by the global custodian. The icon denotes the SI is owned by the investment manager. Figure 4.9 S Details for GC Direct Accounts

22 Monitor Alerts Tab Figure 4.10 Monitor Alerts Tab Accounts Tab Details Figure 4.11 Account Tab Details

23 Step 5: Review the Post-Onboarding Extract The trustee / global custodian direct reviews the data. How to Review the SSI Data Table 4.6 Reviewing SSI Data Actor Action Expected Results by IM Expectation for GC /IM Navigate to the Utilities tab and select the Data Search - Account SI Data Search flyover. Enters the GC Direct Acronym in the Settlement Instruction Controller field and click Search. Clicks the Save to Excel button, enter a Report name, and click OK. The system generates an when the Report/Extract is complete. Navigate to the Reports Run flyover on the Utilities tab and click on the related report. Save the Excel file locally. Name the file <GC Direct Acronym> Post Onboarding SIs as of <date>. the global custodian a copy of the files and discuss discrepancies. The complete list of the SIs, owned by the GC Direct Acronym, is listed. The ALERT platform begins processing the report. SI details will be downloaded to Excel. The new file is saved. The trustee can reconcile the pre-onboarding SSI extract against the post-onboarding SI extract Work with the investment manager to resolve discrepancies

24 ALERT for Guide to GC Direct Onboarding 5. ONGOING MONITORING WORKFLOW Figure 5.1 ALERT GC Direct - Ongoing Monitoring Ongoing Monitoring Workflow 24

25 ALERT for Guide to GC Direct Onboarding ALERT User Interface - Monitoring Steps The trustee can monitor changes to SSIs that have been linked to a GCD Acronym. Table 5.1 Maintenance - Monitor Alerts Actor Action Expected Results by IM IM The trustee manager monitors SSIs submitted by the Global Custodian within the Alerts tab. To view SIs alerts related to GC Direct activity, click on the Custodian alerts count on the Accounts page. To review the details of the SI, click on the hyperlink under the Changes column. Discard alerts once reviewed. At any time, the SI details can also be found by searching for the Access Code under the Accounts tab, and navigating to the Settlement Instruction section. For more information, see SI Details on page 27. Click on the Country hyperlink to view the SI details The icon denotes the SI is owned by the GC. The icon denotes the SI is owned by the IM. Table 5.2 Accounts Tab Details Ongoing Monitoring Workflow 25

26 ALERT for Guide to GC Direct Onboarding Monitor Alerts from the Home Page Table 5.3 Monitor Alerts from the Home Page Alerts Summary by SI Controller Figure 5.2 Alerts Summary by SI Controller Ongoing Monitoring Workflow 26

27 ALERT for Guide to GC Direct Onboarding SI Details Figure 5.3 SI Details Ongoing Monitoring Workflow 27

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