ALERT FOR REGIONAL CUSTODIAN

Transcription

1 ALERT FOR REGIONAL CUSTODIAN 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: AL450 Service: ALERT for Custodian 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/ Custodian Responsibilities 7 Data Search Functionality 7 Settlement Instruction (SI) Controller 7 Linking a GC Direct Acronym in the SI Controller Field 7 Unlinking a Global Custodian 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 Step 2: Approve the Custodian Account 16 Step 3: Change the SI Controller (Manual) 19 How to Change the SI Controller 19 Accounts - Settlement Instructions User Interface 20 Remove Account-Specific Data Confirmation 20

4 Updating A/C Global Custodian 21 Success Message for GC Direct 21 Step 4: Monitor Progress 22 How to Monitor GCD Progress 22 Monitor Alerts Tab 22 Accounts Tab Details 24 Step 5: Review the Post-Onboarding Extract 24 How to Review the SSI Data Ongoing Monitoring Workflow 26 ALERT Web Interface - Monitoring Steps 26

5 PREFACE This document focuses on GC Direct information, the onboarding steps required to implement GC Direct, and the SSI monitoring process for regional s. The content in this document represents the steps necessary to be ready for the production environment. 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 1. GC DIRECT WORKFLOW 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 using ISO compliant messages. This functionality enhanced /prime broker access (GC Direct), enabling the global /prime broker to become the owner and maintainer of the SSI data by creating the golden copy on the ALERT platform. The 2017 regional workflow release enables investment managers and regional s to jointly leverage the GC Direct workflow. This access allows for regional s to maintain an electronic signature of account approval and the assignment of SSI data ownership. By adopting this new model, investment managers and regional s place the responsibility of SSI maintenance and distribution with the global /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 /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 /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 2. ONBOARDING ACCESS CODES TO GC DIRECT Investment Manager/ Custodian Responsibilities DTCC recommends that global s, regional s, 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 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 the regional on Service Level Agreements Support Production conversion and SSI monitoring responsibilities A regional should: Obtain user interface access 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 platform data to Excel (.xlsx) format. The exported files allow investment managers and regional s to reconcile their SSI instructions by comparing pre- and post-conversion 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) Linking a GC Direct Acronym in the SI Controller Field After an investment manager assigns a regional to an account, only the regional 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 submits SSI data to the ALERT platform, neither the investment manager nor the regional can edit data designated as settlement related. Onboarding Access Codes to GC Direct 7

8 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). 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 Onboarding Access Codes to GC Direct 8

9 Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By Sub Agent City Sub Agent City Receiving Agent City Global Custodian Sub Agent Country Sub Agent Country Receiving Agent Country Global Custodian 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 Onboarding Access Codes to GC Direct 9

10 Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By CorrespCashA/CNumber CorrespCashA/CNumber CorrespCashA/CNumber Global Custodian CorrespSecA/CNumber CorrespSecA/CNumber CorresSecA/CNumber Global Custodian 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 Onboarding Access Codes to GC Direct 10

11 Table 2.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 Unlinking a Global Custodian Acronym in the SI Controller Field 1. Unlinking a GC Direct Acronym is only allowed by a regional for accounts managed by a regional. 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. Once removed as the SI Controller, the GC Direct acronym no longer has control of any SSIs for the access code. 4. The regional can attach a new SI Controller (investment manager Web interface, GC web interface, or another GC Direct acronym). Currently, a regional can only attach another GCD acronym. 5. Investment managers cannot directly unlink a GC Direct Acronym from a regional managed Access Code. 6. Investment Manages can remove the regional link from an Access code. This action removes the 's access to the account and removes the GC Direct Acronym. 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. Levels of Clearing Global s 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. Onboarding Access Codes to GC Direct 11

12 Levels of Clearing (continued) # Levels of Parties Involved in Settlement Clearing 3 Local Agent Bank, Intermediary and Global Custodian ALERT SSI BIC Fields 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. 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 to see if other security types, such as Money Market (MMT), are supported. Cash (CSH) and Foreign Exchange (F/X) Check with your 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 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 s 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). DTCC recommends that s use an as-of 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 Onboarding Access Codes to GC Direct 12

13 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 daily. 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. 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 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 Custodian 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 regional initiates the conversion to GC Direct, investment managers and/or regional 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 ALERT Settlement Instruction Data Actor Action Expected Results by IM IM/regional IM/regional IM/regional IM/regional IM/regional Navigate to the Utilities 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. 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/regional 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. Onboarding Steps 15

16 Step 2: Approve the Custodian Account The regional and the investment managers must each complete the account setup on the ALERT platform for the regional account to be active. Table 4.2 Approving a Custodian 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 regional workflow by selecting the Custodian check box. The user populates the regional Acronym and A/C Custodian The Access Code is displayed. The user views the SI Controller / SI List page The regional Acronym and Custodian are enabled. Onboarding Steps 16

17 Once a regional is assigned to an account, regional users receive an and an alert electronic notification. Here is the sample text of the Hello: A new Access Code has been assigned to your acronym. Please log into ALERT to take further action. Assigner: Test Institution Custodian: NEW-APP ALERT platform 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. Table 4.3 Custodian Alerts Actor Action Expected Results by Custodian 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 Custodian Account alert for the appropriate account. Review the account information and the A/C Custodian. Click the Approve or Reject button. The search results grid populates with investment manager Acronyms that have assigned the regional to one of their accounts.(figure 4.1). The regional navigates to the Alerts Summary Filtered by Acronym page. (Figure 4.2). The New Custodian Account alert pop up window appears (Figure 4.3). The user is returned to the Alerts Summary filtered by acronym page. Onboarding Steps 17

18 Figure 4.1 Alerts Summary Figure 4.2 Alerts Summary Filtered by Acronym Onboarding Steps 18

19 Figure 4.3 NEW: REGIONAL CUSTODIAN Popup window Step 3: Change the SI Controller (Manual) The regional 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 on the ALERT platform's web interface. Table 4.4 Changing the SI Controller Actor Action Expected Results by IM Navigate to the Accounts tab, search by Access Code or Custodian. Click on the Access Code hyperlink, and navigate to the Settlement Instruction section for the access code. 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 Access Code is displayed. The user views the SI Controller / SI List page 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 page 21.. Onboarding Steps 19

20 Accounts - Settlement Instructions User Interface Figure 4.4 Settlement Instructions User Interface Remove Account-Specific Data Confirmation Figure 4.5 Remove Account-Specific Data Confirmation Onboarding Steps 20

21 Updating A/C Global Custodian Figure 4.6 Updating A/C Global Custodian Success Message for GC Direct Figure 4.7 Success Message for GC Direct Onboarding Steps 21

22 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 regional monitors progress of Access Codes converted using the Accounts Search by GCD status tool on the Accounts tab. The regional 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 regional 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. Click on the Country hyperlink to view the SI details The icon denotes the SI is owned by the global. The icon denotes the SI is owned by the investment manager. Figure 4.8 S Details for GC Direct Accounts Monitor Alerts Tab Onboarding Steps 22

23 Figure 4.9 Monitor Alerts Tab Onboarding Steps 23

24 Accounts Tab Details Figure 4.10 Account Tab Details Step 5: Review the Post-Onboarding Extract The regional / global 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 Custodian 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. 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. Onboarding Steps 24

25 Table 4.6 Reviewing SSI Data (continued) Actor Action Expected Results by IM Expectation for GC Save the Excel file locally. Name the file <GC Direct Acronym> Post Onboarding SIs as of <date>. The new file is saved. The Custodian can reconcile the preonboarding SSI extract against the post-onboarding SI extract /IM the global a copy of the files and discuss discrepancies. Work with the investment manager to resolve discrepancies Onboarding Steps 25

26 5. ONGOING MONITORING WORKFLOW Figure 5.1 ALERT GC Direct - Ongoing Monitoring ALERT Web Interface - Monitoring Steps The regional 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 regional 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. Click 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. Ongoing Monitoring Workflow 26

27 Table 5.2 Accounts Tab Details Ongoing Monitoring Workflow 27

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