Overview
The T+1 Scorecard is a dashboard available to CTM and TradeSuite ID Investment Manager and Broker Dealer clients through the ITP Data Analytics user interface. The T+1 Scorecard is designed to summarize your matching and affirmation metrics and help clients prepare for the move to T+1 accelerated settlement in the U.S. and eventually other financial markets.
It highlights areas where your organization falls short against the recommended cut-off times alongside current industry averages based on the last complete trading month. The current cut-off times and those that will be applied as of May 2024 are provided in detail below:
- Pre: 28th May 2024 for a T+2 Settlement Cycle
- Broker confirms must be affirmed in TradeSuite by 11:30 AM on Trade Date + 1
- Post 28th May 2024 for a T+1 Settlement Cycle
- Best practice is to ensure all Blocks and Allocations submitted into CTM reach Match Agreed by 7 PM Eastern Time
- All Broker confirms must be affirmed in TradeSuite by 9:00 PM on Trade Date to flow from TradeSuite to DTC for settlement. If the confirm is not affirmed by the cutoff, the Deliver needs to issue a Night Deliver Order (NDO) on TD or Day Deliver Order (DDO) on T+1. This process is both less efficient and more costly: NDO ($0.17) and DDO ($.54) charged to the Deliverer and $0.11 charged to the Receiver.
- Unaffirmed Confirms are 54 times more likely to DK in the RAD process at DTC which creates significant friction, cost and risk in the settlement process.
To learn more about the ITP services that enable our clients to match and affirm their US equity trades in a timely manner, please visit CTM – US-Specific Workflows.
Getting Access to the T+1 Scorecard
Access to the T+1 Scorecard is controlled by the assignment of the ITP Data Analytics T+1 Scorecard Basic role to your CTM and/or TradeSuite ID user ids, which needs to be provisioned by your Product Administrator.
Note: You must have both CTM and TradeSuite ID user ids mapped with the ITP Data Analytics T+1 Scorecard Basic role in order to view both Matching and Affirmation metrics on the Scorecard.
Instructions for Product Administrators can be found below, explaining how to add this role to an existing user ID or create a new user ID with this role.
1. User entitlements are managed through Manage My Services. In the Manage My Services Product Help, view Modifying User Entitlements and follow steps 1 and 2
a) Within Step 2, on the Add / Modify Entitlements window, select the ITP Data Analytics T+1 Scorecard Basic role as shown in the screenshot below.
2. Click Submit
3. To access the T+1 Scorecard, the user should log into the MyDTCC portal and select the ITP Data Analytics tile.
Not sure who your Product Administrator is?
To find out who your Product Administrator is:
- Go to MyDTCC - My Products and select Need access to another product/service? Want to know who your Administrators are? Select the appropriate ITP product from the list - for T+1 Scorecard you will need to select CTM and/or TradeSuite ID. A list of your current Product Administrators will appear.
- Or contact our DTCC Client Center - our global support telephone numbers are listed at http://www.dtcc.com/client-center
- If your organization does not have a product administrator, see the Manage My Services Product Help for instructions on how to create an administrator. Contact the DTCC Client Center for assistance.
1. User entitlements are managed through Manage My Services. In the Manage My Services Product Help, view Creating a User (for ITP product accounts) and follow steps 1-3
a) When creating a new user in Step 1, select Product: ITP Services & MyDTCC Account
b) Within Step 3, on the Add / Modify Entitlements window, select the ITP Data Analytics T+1 Scorecard Basic role as shown in the screenshot below.
2. Click Submit
3. To access the T+1 Scorecard, the user should log into the MyDTCC portal and select the ITP Data Analytics tile.
Not sure who your Product Administrator is?
To find out who your Product Administrator is:
- Go to MyDTCC - My Products and select Need access to another product/service? Want to know who your Administrators are? Select the appropriate ITP product from the list - for T+1 Scorecard you will need to select CTM and/or TradeSuite ID. A list of your current Product Administrators will appear.
- Or contact our DTCC Client Center - our global support telephone numbers are listed at http://www.dtcc.com/client-center
- If your organization does not have a product administrator, see the Manage My Services Product Help for instructions on how to create an administrator. Contact the DTCC Client Center for assistance.
Additional Resources
Full details on navigating the T+1 Scorecard, including detailed information about the metrics provided can be found in the default ITP Data Analytics Product Help available here or directly from the ITP Data Analytics user interface.