ALERT INVESTMENT MANAGER S GUIDE TO GC DIRECT ONBOARDING MAY 02, 2018

Transcription

1 ALERT INVESTMENT MANAGER S GUIDE TO GC DIRECT ONBOARDING MAY 02, 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: AL454 Service: ALERT Title: Investment Manager s Guide to GC Direct Onboarding

3 TABLE OF CONTENTS Preface 6 Related Documents and Training 6 Questions? 6 1. Workflows 7 GC Direct Workflow 7 Overview 7 Key Benefits 7 Converting Access Codes to GC Direct 7 Investment Manager Responsibilities 7 Data Search Functionality 8 Settlement Instruction (SI) Controller 8 Trustee 8 Regional Custodian 8 Link a GC Direct Acronym in the SI Controller Field 9 Unlinking a GC DIRECT Acronym in the SI Controller Field 12 Unlinking a Trustee or Regional Custodian Acronym in the SI Controller Field 13 Levels of Clearing 13 Security Types 13 Cash (CSH) and Foreign Exchange (F/X) 14 New Markets 14 Future Effective Date 14 Alerts: Discarding and Merging 14 Unlinking a GC DIRECT Acronym in the SI Controller Field 18 Unlinking a Trustee or Regional Custodian Acronym in the SI Controller Field 19 Levels of Clearing 19 Security Types 19 Cash (CSH) and Foreign Exchange (F/X) 20 New Markets 20

4 Future Effective Date 20 Alerts: Discarding and Merging 20 Onboarding Workflow Diagram 21 Trustee/Regional Custodian with GC Direct Onboarding Workflow Diagram Onboarding 23 Onboarding Steps 23 Step 1: Create a Pre-Conversion Extract 23 How to Create a Pre-Conversion Extract 23 Utilities Data Search User Interface 24 Step 2: Change the SI Controller (Manual) 25 How to Change the SI Controller 25 Accounts - Settlement Instructions User Interface 25 Remove Account-Specific Data Confirmation 26 Updating A/C Global Custodian 26 Success Message for GC Direct 26 Step 3: Monitor Progress 27 How to Monitor GCD Progress 27 Monitor GC Direct on Home Page 28 Details for GC Direct Accounts 28 Monitor Alerts Tab 29 Accounts Tab Details 29 Step 4: Enter Account-Specific SSIs (Manual) 30 How to Enter Account-Specific SSIs 30 Step 5: Update GC Direct Owned SSI with Investment Manager Data (Manual) 31 How to Update GCD-Owned SSIs 31 Step 6: Reconcile the Post-Conversion Extract 31 How to Reconcile SSI Data 31 Reconciliation Tool Recommendation 32 Reconciliation Process 32

5 Post-Reconciliation 33 Ongoing Monitoring Workflow Diagram 33 ALERT Web Interface - Monitoring Steps 34 Monitor Alerts from the Home Page 34 Alerts Summary by SI Controller 35 SI Details 35 A. Appendix 36 Step 2: Change SI Controller (Upload) 36 Step 2a: Create Base Access Code Conversion File 36 Data Search - GCD Conversion Extract 37 Step 2b: Modify Conversion File 37 Sample Upload Conversion File 38 Step 2c: Upload Conversion File 39 Upload GCD Conversion File 39 Validated Uploaded File 40 Step 4: Enter Account-Specific SSIs (Upload) 40 Step 5: Update GC Direct Owned SIs with Investment Manger Data (Upload) 42 Sample GCD Settlement Instructions Template 43

6 PREFACE This document focuses on GC Direct information and the onboarding steps required for investment managers to implement GC Direct. It contains workflow diagrams for onboarding for different implementation scenarios, and for ongoing monitoring. onboarding directly via GC Direct onboarding via Trust Bank and GC Direct onboarding via regional custodian and GC Direct: the release is currently in the pilot phase and is scheduled to go into production on November 18, 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 6

7 1. WORKFLOWS GC Direct Workflow This document focuses on GC Direct information, the onboarding steps required to implement GC Direct, and the SSI monitoring process for investment managers. Overview The 2015 Global Custodian workflow ("GC Direct") release enabled automated exchange of Standing Settlement Instructions (SSIs) between a Custodian and the ALERT platform using ISO compliant messages. This enhanced custodian/prime broker access (GC Direct) enables the global custodian/prime broker to become the owner and maintainer of the SSI data by creating the golden copy in the ALERT platform. By adopting this new model, an investment manager places 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 Converting Access Codes to GC Direct Investment Manager Responsibilities DTCC recommends that global custodians and investment managers simulate a GC Direct conversion in the ALERT platform Client Test environment prior to conversion to the Production environment. 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 global custodians on Service Level Agreements. Support Production conversion and SSI monitoring responsibilities. Remove existing Settlement Models prior to linking a Trustee Acronym and Trustee. Workflows 7

8 Remove existing Settlement Models prior to linking a regional custodian Acronym and Regional Custodian. 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 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. This field was previously called Model Owner. The SI Controller acronym can be a(n): Web acronym (with or without a Model Name) GC Web acronym (with a Model Name) GC Direct acronym (with an GC) Trustee The SI Controller screen enables you to link a Trustee Acronym and Trustee to an access code. Once they are linked, the Trustee Acronym owns the SI Controller field. The SI Controller Field is an Web acronym without a Model Name. If the Account is trustee-managed, the investment manager assigns the trustee, who is then responsible for: Assigning the GCD as the SI Controller Populating the Global Custodian Note The investment manager removes an existing Model or SI controller before assigning a trustee. The trustee will not be able to assign an SI Controller if the investment manager has already attached a Model or SI Controller. Regional Custodian The SI Controller screen enables you to link a Regional Custodian Acronym and Regional Custodian to an access code. Once they are linked, the Regional Custodian Acronym owns the SI Controller field. The SI Controller field is an Web acronym without a Model Name. If the Account is regional custodian -managed, the investment manager assigns the regional custodian, who is then responsible for: Assigning a GCD as the SI Controller Populating the Global Custodian Note The investment manager removes an existing Model or SI controller before assigning a regional custodian. The regional custodian will not be able to assign an SI Controller if the investment manager has already attached a Model or SI Controller. Workflows 8

9 Link a GC Direct Acronym in the SI Controller Field 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, the investment manager cannot 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). 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. The investment manager can maintain non-settlement related SSI data, including but not limited to: Interested Party Data Settlement Contact Data Table 1.1 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 s Global Custodian A/C # at Local Agent A/C # at Local Agent Final Beneficiary A/C#/IBAN Global Custodian 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 Workflows 9

10 Table 1.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 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 Sub A/C Ref 2 Sub A/C Ref Cont'd Beneficiary Additional Info Info Global Custodian 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 Workflows 10

11 Table 1.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 A/C# A/C Global A/C Global Investment Custodian Custodian 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 Workflows 11

12 Table 1.1 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 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. 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. 2. The GC Direct acronym no longer has control of any SSIs for the access code. 3. The investment manager can attach a new SI Controller (Investment Manger Web, Global Custodian Web, or another GC Direct acronym). Workflows 12

13 Unlinking a Trustee or Regional Custodian Acronym in the SI Controller Field 1. The ALERT platform removes the link between the access code, the Trustee/Regional Custodian cronym, and the GC Direct acronym once you remove the Trustee/Regional Custodian acronym from the Trustee/Regional Custodian field. 2. The ALERT platform deletes all existing GC Direct 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 investment manager can attach a new SI Controller (Investment Manger Web, Global Custodian Web, or another GC Direct acronym). 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. Table 1.2 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 3 Local Agent Bank, Intermediary 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. 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 DTCC recommends 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. Workflows 13

14 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 manage 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 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 custodians 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 impacts an investment manager's access code. These alerts are visible on the Alerts tab on the the ALERT platform's web interface. The ALERT platform has an Alert merging function that consolidates multiple changes for the same SSI. When Alerts are triggered for the same SSI (country-security-method), then Alerts may merge or be discarded and only the relevant one is displayed. To effectively utilize Alerting for GC Direct conversion, the user must view and discard Alerts on a daily basis. Workflows 14

15 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. 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, the investment manager cannot 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). 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. The investment manager can maintain non-settlement related SSI data, including but not limited to: Interested Party Data Settlement Contact Data Table 1.3 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 s Global Custodian A/C # at Local Agent A/C # at Local Agent Final Beneficiary A/C#/IBAN Global Custodian 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 Workflows 15

16 Table 1.3 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 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 Global Custodian Info Sub A/C Ref 2 Sub A/C Ref Cont'd Beneficiary Additional Global Custodian Info 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 Workflows 16

17 Table 1.3 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 A/C# A/C Global A/C Global Investment Custodian Custodian 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 Workflows 17

18 Table 1.3 Ownership of SSI Data Fields (continued) Field Name Field Label Field Description Input By 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 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. 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. 2. The GC Direct acronym no longer has control of any SSIs for the access code. 3. The Investment Manager can attach a new SI Controller (Investment Manger Web, Global Custodian Web, or another GC Direct acronym). Workflows 18

19 Unlinking a Trustee or Regional Custodian Acronym in the SI Controller Field 1. The ALERT platform removes the link between the access code, the Trustee/Regional Custodian Acronym, and the GC Direct acronym once you remove the Trustee/Regional Custodian acronym from the Trustee/Regional Custodian field. 2. The ALERT platform deletes all existing GC Direct 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 investment manager can attach a new SI Controller (Investment Manger Web, Global Custodian Web, or another GC Direct acronym). 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. Table 1.4 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 3 Local Agent Bank, Intermediary 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. 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 DTCC recommends 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. Workflows 19

20 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 managers 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 platform has an Alert merging function that consolidates multiple changes for the same SSI. When Alerts are triggered for the same SSI (country-security-method), then Alerts may merge or be discarded and only the relevant one is displayed. To effectively utilize Alerting for GC Direct conversion, the user 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. 2. A CHG: DTC Alert followed by another CHG: DTC Alert will merge and the first CHG: DTC Alert will remain. Workflows 20

21 Onboarding Workflow Diagram Figure 1.1 is a workflow diagram that provides and overview of the steps required for onboarding an investment manager's access codes to GC Direct. Figure 1.1 ALERT GC Direct Onboarding (Generic Flow - May Change per Custodian) Workflows 21

22 Trustee/Regional Custodian with GC Direct Onboarding Workflow Diagram Figure 1.2 is a workflow diagram that provides an overview of the trustee/regional custodian workflow. The additional step of trustee/regional custodian assignment is a requirement for onboarding an investment manager's access codes to a GC Direct Custodian for this workflow. Figure 1.2 ALERT GC Direct Onboarding (Generic Flow - May Change per Custodian) Workflows 22

23 2. ONBOARDING Onboarding Steps Step 1: Create a Pre-Conversion Extract Since SSIs are deleted when an investment manager initiates the conversion to GC Direct, investment managers should create a backup SSI file prior to conversion. Uses for the backup file include: Pre- to post-conversion reconciliation Complete or partial rollback of SI Controller changes Upload of markets not supported by the GC Direct acronym such as cash instructions How to Create a Pre-Conversion Extract The steps in Table 2.1 describe how to create an export file with Settlement Instruction data from the ALERT platform. Table 2.1 Creating an Export File with ALERT Settlement Instruction Data Actor Action The user navigates to the UTILITIES tab and selects DATA SEARCH ACCOUNT SI DATA from the menu The user verifies the Acronym is present in the Settlement Instruction Controller field and clicks Search. For more information, see Utilities Data Search User Interface on the next page. The user clicks on Save to Excel button, enters a Report name and clicks OK. The ALERT platform sends an when the Report/Extract is complete. The user navigates to the REPORTS RUN page from the UTILITIES tab and clicks on the report. Save the Excel file locally for SSI verification, post conversion. Suggested file name : < Acronym> SSIs pre-conversion as of <date>. Expected Results by List of Account SIs for the Acronym. The ALERT platform begins processing the report/extract SSI details will be downloaded to Excel. File may need to be altered if more than one model name is populated. Onboarding 23

24 Utilities Data Search User Interface Figure 2.1 Data Search User Interface Onboarding 24

25 Step 2: Change the SI Controller (Manual) The investment manager changes the SI Controller for each Access Code to a GC Direct Acronym and inputs the Account at GC. Depending on the number of accounts required to convert, the investment manager may choose to use the upload function. Step 2: Change SI Controller (Upload) on page 36 How to Change the SI Controller The steps in Table 2.2 describe how to change the SI Controller for an Access Code on the ALERT platform. Table 2.2 Changing the SI Controller for an Access Code in ALERT Actor Action The user navigates to the ACCOUNTS tab, search by Access Code. The user clicks on the Access Code hyperlink, navigates to the Settlement Instruction section for the access code. The user clicks on CHANGE button. For more information, see Accounts - Settlement Instructions User Interface below. The application will ask whether you want to Save or Remove existing Settlement Instructions. Click REMOVE Account Specific Data. For more information, see Remove Account-Specific Data Confirmation on the next page. * This step is required when assigning a trustee/regional Custodian. Enter the GCD Acronym (for example, BANKGCD) in the SI Controller field and then the account number in the GC field. For more information, see Updating A/C Global Custodian on the next page. Click Change again. Repeat these steps for each access code you are converting to GC Direct. Expected Results by 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 the next page. Accounts - Settlement Instructions User Interface Figure 2.2 Settlement Instructions User Interface Onboarding 25

26 Remove Account-Specific Data Confirmation Table 2.3 Remove Account-Specific Data Confirmation Updating A/C Global Custodian Table 2.4 Updating A/C Global Custodian Success Message for GC Direct Table 2.5 Success Message for GC Direct Onboarding 26

27 Step 3: Monitor Progress Investment managers 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 2.6 Monitoring GCD Progress Actor Action Expected Results by The investment manager monitors progress of Access Codes converted using the counts within the GC Direct box on the the ALERT platform Homepage. For more information, see Monitor GC Direct on Home Page on the next page. The investment manager monitors SSIs submitted by the global custodian on the ALERT platform Homepage and within the ALERTS tab. For more information, see Monitor Alerts Tab on page 29. In Retrieval status means the Access Code has been converted 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. Investment managers should monitor the Alerts tab to review the SSIs received by the GC Rejected status means the GC has rejected the request for conversion. The must correct the A/C at GC or contact the GC for next steps. At any time, the investment manager can click on the count to review the specific Access Codes under the count. For more information, see Details for GC Direct Accounts on the next page. To view SIs alerts related to GC DIRECT activity, click on the Custodian alerts count on the Homepage. 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 29. o Click the Country hyperlink to view the SI details. o The icon denotes the SI is owned by the global custodian. o The icon denotes the SI is owned by the investment manager. Onboarding 27

28 Monitor GC Direct on Home Page Figure 2.3 Monitor GC Direct on Home Page Details for GC Direct Accounts Figure 2.4 Details for GC Direct Accounts Onboarding 28

29 Monitor Alerts Tab Figure 2.5 Monitor Alerts Tab Accounts Tab Details Figure 2.6 Accounts Tab Details Onboarding 29

30 Step 4: Enter Account-Specific SSIs (Manual) The investment manager enters account-specific SSIs that the GC Direct Acronym does not support (for example, Cash Instructions). Depending on the number of SSIs that need to be re-loaded, the investment manager may choose to use the upload function. For more information, see Step 4: Enter Account-Specific SSIs (Upload) on page 40. How to Enter Account-Specific SSIs Table 2.7 How to Enter Account-Specific SSIs Actor Action Expected Results by The user navigates to the Accounts tab and searches by Access Code. The user clicks on the Access Code hyperlink and navigates to the Settlement Instruction section for the Access Code. The user clicks the Create Settlement Instruction button and enter the account specific SI details The Access Code is displayed. The account specific SI will be saved. For more information, see Accounts Tab Details on the previous page. The icon denotes the SI is owned by the global custodian. The icon denotes the SI is owned by the investment manager. Onboarding 30

31 Step 5: Update GC Direct Owned SSI with Investment Manager Data (Manual) The investment manager may want to augment the global custodian owned instructions with additional data (for example, Interested Party data on a DTC SSI, Receiver Agent BIC for the CTM service Settlement Notification, and so on). Depending on the number of SSIs that need to be augmented, the investment manager may choose to use the upload function. For more information, see Step 5: Update GC Direct Owned SIs with Investment Manger Data (Upload) on page 42. How to Update GCD-Owned SSIs Table 2.8 How to Update GCD-Owned SSIs Actor Action Expected Results by The user navigates to the Accounts tab and search by Access Code The user clicks on the Access Code hyperlink and navigates to the Settlement Instruction section for the Access Code. The user clicks the Country hyperlink of the SI that needs to be appended and makes modifications. The Access Code is displayed. The Account Specific SI will be saved. For more information, see Accounts Tab Details on page 29. Although the investment has appended data to the SI, the SI will continue to be denoted as GC owned (via the icon). Step 6: Reconcile the Post-Conversion Extract The investment manager / global custodian direct reconciles the data. How to Reconcile SSI Data Table 2.9 How to Reconcile SSI Data Actor Action Expected Results by Expectation for The user navigates to the UTILITIES tab and selects DATA SEARCH ACCOUNT SI DATA flyover. The user enters the GC Direct Acronym in the Settlement Instruction Controller field and clicks Search. The complete list of the SIs, owned by the GC Direct Acronym, is listed. GC Onboarding 31

32 Table 2.9 How to Reconcile SSI Data (continued) Actor Action Expected Results by Expectation for GC The user clicks the Save to Excel button, enters a Report name, and clicks OK. The system generates an e- mail when the Report/Extract is complete. The user navigates to the REPORTS RUN flyover on the UTILITIES tab and clicks on the related report. The ALERT platform begins processing the report. SI details will be downloaded to Excel. Save the Excel file locally. Name the file <GC Direct Acronym> Post Conversion SIs as of <date>. the global custodian a copy of the files and discuss discrepancies. The new file is saved. The investment manager can reconcile the pre-conversion SSI extract against the postconversion SI extract Work with the investment manager to resolve discrepancies. Reconciliation Tool Recommendation While any preferred tool may be used for reconciliation, two potential options are as follows: Microsoft Excel (version: Office 2014 or later) to compare pre and post extraction files. Microsoft Excel add-on macros, such as xlcompare ( individual license fees apply). Reconciliation Process Perform the procedure that follows for each of the pre- and post-extracation files using xlcompare. 1. Remove the following columns: RefID, Status, and Action. 2. Add two additional columns: a. File Type = Pre or Post (type of extract) Pre Extract created before conversion Post Extract created after conversion b. Key -= concatenation of access code-country-security-methodtype 3. Sort the data by Key field. 4. Format each cell with the same font and style. Onboarding 32

33 Post-Reconciliation Create a new file with three tabs: 1. Compare (blank to start with) 2. Copy Pre and Post into Pre and Post tabs, respectively Note For details on how to use xlcompare see Ongoing Monitoring Workflow Diagram Figure 2.7 ALERT GC Direct - Ongoing Monitoring Onboarding 33

34 ALERT Web Interface - Monitoring Steps The investment monitor can monitor changes to SSIs that have been linked to a GCD Acronym. Table 2.10 Maintenance - Monitor Alerts Actor Action Expected Results by The investment manager monitors SSIs submitted by the Global Custodian on the ALERT platform Homepage and within the ALERTS tab. For more information, see Monitor Alerts from the Home Page below. To view SIs alerts related to GC DIRECT activity, click on the Custodian alerts count on the Homepage. 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 the next page. o Click on the Country hyperlink to view the SI details o The icon denotes the SI is owned by the GC. o The icon denotes the SI is owned by the. Monitor Alerts from the Home Page Figure 2.8 Monitor Alerts from the Home Page Onboarding 34

35 Alerts Summary by SI Controller SI Details Figure 2.9 Alerts Summary by SI Controller Figure 2.10 SI Details Onboarding 35

36 A. APPENDIX Step 2: Change SI Controller (Upload) Step 2a: Create Base Access Code Conversion File The investment manager creates a SI Controller extract (to be updated and uploaded to initiate the conversion from the investment manager model to the GC Direct acronym ownership). Table A.1 Create Base Access Code Conversion File Actor Action Expected Results by The user navigates to the Utilities tab and selects DATA SEARCH GENERAL ACCOUNT DATA fly over The user verifies that the investment manager Acronym is present in the Settlement Instruction Controller field, selects the GCD Conversion check box and clicks Search. For more information, see Data Search - GCD Conversion Extract on the next page. The user clicks Save to Excel. After a prompt, the user enters the Report name and clicks OK. The system generates an when the Report/Extract is complete The user navigates to the REPORTS RUN fly over under the UTILITIES tab and clicks on the related report. Save the Excel file locally as a base for a detach model Upload file. Name the file < Model Acronym> ACCESS CODEs as of <date>. The complete list of all Access Codes currently managed by the investment manager Acronym The ALERT platform begins processing the report/extract. The SI Controller by Access Code extract will be downloaded to Excel. Appendix 36

37 Data Search - GCD Conversion Extract Figure A.1 GCD Conversion Extract Step 2b: Modify Conversion File The investment manager uses the SI Controller Extract to create the conversion UPLOAD file. Table A.2 Modify Conversion File Actor Action Expected Results by 1. Using the GCD Conversion Extract spreadsheet from the previous step: Sort by Model Name and delete any Access Codes that should not be part of the conversion. 2. Save file as GCD conversion file as of <date>. The conversion file is complete and ready for Upload in the ALERT platform. For each Access Code required for the conversion populate the following columns: Action : D (for Delete) must be capitalized. Keep AcctSpecInst : N ( for No) must be capitalized. Ensure that is there no data in the following fields on the Delete records Ref id field (remove data if present) The conversion file is complete and ready for Upload in The ALERT platform. Status field SI Controller field A/C# at Global Custodian Save the file Appendix 37

38 Table A.2 Modify Conversion File (continued) Actor Action Expected Results by Copy all rows in the spreadsheet and paste the copied rows under the existing rows in the spreadsheet. In addition: 1. Change Action : to N (for New) must be capitalized. 2. Keep AcctSpecInst: N (for N) must be capitalized. 3. For each Access Code, populate the following fields: GC Direct acronym GC 4. Ensure that there is no data in the following fields on the New records: Ref id Status Model Owner Model Name 5. Save the file. Sample Upload Conversion File Figure A.2 Sample Upload Conversion File Appendix 38

39 Step 2c: Upload Conversion File The investment manager uploads the SI Controller conversion file. Note A user needs regular The ALERT platform Write access to upload this file. There is no additional subscription (ALERT Plus) required to upload the SI Controller file. Table A.3 Upload Conversion File Actor Action Expected Results by The user navigates to the UTILITIES tab and selects the UPLOAD fly over The user will view the Upload List and Maintain screen. The user clicks the button. A file upload modal page will be presented. The user performs the following steps: 1. Clicks the BROWSE button, Navigates to local file directory. 2. Selects conversion file. -Chooses the Data Type : SI Controller. 3. Clicks the VALIDATE button Once the file has a status of Validation Complete, click the check box to the left of the conversion file name and click SUBMIT. Once the screen is refreshed, the user will look for the Upload file to be in a COMPLETE status. The dialog closes and The ALERT platform validates the file for format errors (missing columns, and so on). The ALERT platform will submit the conversion file to delete the investment manager Model Acronym/Name from the related Access Codes and Attach the GCD acronym and A/C at GC. The ALERT platform processing is complete. Upload GCD Conversion File Figure A.3 Upload GCD Conversion File Appendix 39

40 Validated Uploaded File Figure A.4 Validated Uploaded File Step 4: Enter Account-Specific SSIs (Upload) The investment manager enters account-specific SIs that the GC Direct Acronym does not support (for example, Cash Instructions). Note This upload capability requires an additional ALERT Plus module subscription. If you are not sure of your The ALERT platform Acronym's subscription, contact your product administrator. Table A.4 Enter Account-Specific SSIs (Upload) Actor Action Expected Results by 1. Using the original ASI preconversion export < Model Acronym> SIs as of <date>, filter out the GC Direct owned SIs. 2. Save a copy of the file with only the investment manager owned SIs (for example, Cash SIs). 3. Name the file < Acronym> owned SIs as of <date>. The new file is saved. The user navigates to the UTILITIES tab and selects the UPLOAD fly over The user will view the Upload List and Maintain screen. The user clicks.. A file upload dialog appears. Appendix 40

41 Table A.4 Enter Account-Specific SSIs (Upload) (continued) Actor Action Expected Results by The user performs the following steps: 1. Clicks the BROWSE button, navigates to local file directory and selects and investment manager owned SI file. 2. Chooses the Data Type: Account Settlement Instructions. 3. Clicks the VALIDATE button. Once the file has a status of Validation Complete, select the check box to the left of the file name and click SUBMIT. GO BACK TO STEP 5 The dialog box closes. The ALERT platform validates the file for format errors, such as (missing columns and so on). The ALERT platform will submit the upload file to create new SIs for the Access Code. If the global custodian already has an SI for the Access Code, the investment manager receives an error that the SI is a duplicate. Appendix 41

42 Step 5: Update GC Direct Owned SIs with Investment Manger Data (Upload) The investment manager may want to augment the global custodian owned instructions with additional data (Interested Party data on DTC SI, Receiver Agent BIC the CTM service Settlement Notification, and so on). Note This upload capability requires an additional ALERT Plus subscription. If you are not sure of your The ALERT platform Acronym's subscription, contact your product administrator. Table A.5 Update GC Direct Owned SIs with Investment Manger Data (Upload) Actor Action Expected Results by The user navigates to the UTILITIES tab and selects the UPLOAD fly over. The user will view the Upload List and Maintain screen. 1. The user clicks the Download Templates hyperlink. 2. For each SI that needs data appended, the user populates the following columns in the Template: o Action : U (for Update) o must be capitalized. All Key SI fields: Acronym, Access Code, Country, Security and Method Type. 3. The following fields should not contain any data: o Ref id (remove data if present) o Status 4. Save the file as < Acronym> appended SI as of <date>. Return to the UPLOAD function and click Upload New File. A file upload dialog appears. Appendix 42

43 Table A.5 Update GC Direct Owned SIs with Investment Manger Data (Upload) (continued) Actor Action Expected Results by The user performs the following steps: 1. Clicks the BROWSE button. 2. Navigates to the local file directory. 3. Selects the investment manager file (< Acronym> appended SI as of <date>). 4. Selects the Data Type : GCD Settlement Instructions. 5. Clicks the VALIDATE button. Once the file has a status of Validation Complete, select the check box to the left of the file name and click SUBMIT. Once the screen is refreshed, the user will look for the file to be in a COMPLETE status. GO BACK TO STEP 6. The dialog box closes The ALERT platform validates the file for format errors (missing columns and so on). The ALERT platform will submit the upload file to create new SIs for the Access Code. If GC already has an SI for the access code then the will receive an error that the SI is a duplicate. The ALERT platform processing is complete. Sample GCD Settlement Instructions Template Figure A.5 Sample GCD Settlement Instructions Template Appendix 43

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