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Investor CSD Features

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Traditionally, a depository could only be added under the ALERT Country Code if the selected depository is in the same country. ALERT now allows all T2S depositories to be added under each T2S country.

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Place of Settlement (PSET) Matching provides CTM investment managers with the ability to compare the PSET BIC provided by their sell-side counterparty with their own PSET BIC for each of their allocations.

Where the BIC doesn't match, the allocation will be flagged with a status of mismatched (MISM) providing users with the opportunity to intervene and fix the matching issue before settlement.

To switch on PSET matching, update your matching profile(s) to set the Trade Detail PSET field to EXCT (exact matching).

CTM MP PSET v2

Step by step instructions on how to do this can be found in the How to Edit a Matching Profile video.

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Buy-side CTM users can switch on the CBIC subscription for their organization. If this is enabled, CTM automatically copies the PSET BIC value to the PSAF field. We strongly recommend that users of the CTM Settlement Notification functionality do this. This functionality will also be available to sell-side clients at a later date.

If, once matching takes place, CTM identifies that the PSET and PSAF values are identical, it removes the PSAF value. Below is an example of the Settlement Information when the CBIC subscription is enabled, along with the corresponding tags as populated in the SWIFT message.

CBIC SettlementInformation v2

 

:94F::SAFE//NCDS/SICVFRPPXXX (94 is the PSAFE)

:95P::PSET//CIKBBEBBXXX (95P is the PSET)

 

To enable the CBIC subscription, your Product Administrator needs to submit a support case requesting the CBIC subscription for your CTM organization. Submit a case at www.dtcc.com/servicecentral

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To facilitate the matching of PSET BICs across different T2S markets, the PSET matching rules allow the matching of BICs across any of the following T2S PSET BICs:

Market  PSET Name PSET BIC
Austria OeKB CSD GmbH OCSDATWWXXX
Belgium  Euroclear Belgium (ex CIK)  CIKBBEBBXXX 
Belgium  The Banque Nationale de Belgique/Nationale Bank van Belgie  NBBEBEBB216 
Denmark VP A/S - the Danish Securities Centre VPDKDKKKXXX
Estonia Estonian CSD LCDELV22XXX
Finland Finnish Central Securities Depository Ltd (APK) APKEFIHHXXX
Finland Finnish Central Securities Depository Ltd (APK) APKEFIHH
France Euroclear France (ex Sicovam) SICVFRPPXXX
Germany Clearstream Banking Frankfurt DAKVDEFFXXX
Greece Bank of Greece BNGRGRAA
Hungary Kozponti Elszamolohaz es Ertektar Rt (Keler) KELRHUHBXXX
Italy Monte Titoli spa MOTIITMM
Luxembourg LuxCSD S.A. LUXCLULLXXX
Luxembourg VP LUX VPLULULLXXX
Malta Malta Stock Exchange XMALMTMT
The Netherlands Euroclear Netherlands NECINL2AXXX
Portugal Interbolsa IBLSPTPPXXX
Romania Depozitarul Central S.A. DECNROBU
Slovak Republic CENTRALNY DEPOZITAR CENNYCH PAPIEROV SR, A.S. CSDSSKBAXXX
Slovenia Centralna Klirinsko Depotna Druzba d.d. (KDD) KDDSSI22XXX
Spain Iberclear IBRCESMMXXX
Switzerland SIS - SEGAINTERSETTLE AG INSECHZZXXX
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In summary, to leverage all of the latest updates you should:

1. Set up SSIs based on any changes a Global Custodian may advise.

2. Add PSET as an EXCT matching field (for Trade Detail matching) within your CTM matching profile(s).

3. Switch on the CBIC subscription for your CTM organization.