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US Trades on CTM - IM FAQs

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Affirmation is an important part of a no touch workflow for DTC-eligible trades. An affirmed confirm triggers an automated settlement process at the DTC. If a confirm is unaffirmed, both the broker and the custodian need to take independent manual steps to effect settlement. If the IM is currently auto-affirming, there are two features which will support high affirmation rates as clients look to move US trades to CTM:

 

  • No Touch Workflow: When the broker supports a no touch workflow they send confirms only into CTM and suppress the submission of confirms into TradeSuite ID. These confirms are propagated out to TradeSuite ID by CTM on behalf of the broker and the status of the confirm reflects the match status of the trade in CTM and user preferences.  
     

  • CTM Auto-Affirmation Workflow: For brokers who do not support a no touch workflow, there is new functionality that would allow the IMs allocations to drop from CTM into TradeSuite ID after matching in CTM. This is similar to how OASYS passes allocations to TradeSuite ID today. This second match in TradeSuite ID will allow the confirms to promote to affirmed. If the allocation mismatched in TradeSuite ID, the IM could use TradeSuite ID Web to identify the problem and address it upstream in CTM.

 

 

 

 

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Yes, OASYS-only Investment Managers will need to sign a CTM schedule.  If you already have access to CTM in your organization, you do not need to sign an additional schedule to support US trades on CTM.

 

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The list of brokers supporting CTM includes details on the asset classes they support.

 

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Over 300 brokers support US trades on CTM. View a list of all the brokers via Service Central - Client lists.  We are actively working with OASYS brokers who do not use CTM for US trades.  It should be noted that if you continue to trade US securities with a non-CTM OASYS broker, you will continue to send allocations through OASYS for that broker counterparty until they implement CTM .  ITP recommends talking to your brokers to ensure they are taking steps to support US trades on CTM.  Once all your brokers support CTM, you can discontinue using OASYS and leverage the full benefits of a single global platform.

Service Central - Client Lists.

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Implementation times depend on which interface you decide to use. View a list of onboarding guides here.