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Investment Manager DTC instructions

The essential market elements for The Depository Trust Company (DTC) standing settlement instructions are:

Example: U.S. Domestic, One Level of Clearing for DTC

When the global custodian is based in the United States, clearing at the DTC is carried out directly, without a local agent or an intermediary. The custodian would therefore have direct membership at the DTC. As it is a scenario of one level of clearing, enter the custodian’s data in the Settlement Party Data: Local Clearing Agent Data group.

Figure 1 is an example of how to populate settlement instructions for one level of clearing.

Figure 1 Investment Manager DTC Settlement Instructions, 1 Level

Table 1 describes the fields.

Table 1  Investment Manager DTC Onstructions for One Level of Clearing

Field Name

Definition

Example

Mapped to SWIFT Tag

Depository/Clearing/Settlement Agency Data

PSET BIC

Place of Settlement

DTCYUS33

Yes

Inst/Broker ID

DTC number of investment manager

00052564

Yes

Agent ID (ID 1)

Optional. DTC number of local agent 000

00026022

Yes

DTC#

DTC Participant ID of local clearing agent

00000997

Yes

Internal DTC A/C#

Fund or safekeeping account at the global custodian

0109

 

Participant

Name associated with the DTC ID (local agent)

State Street Boston

No

Settlement Party Data: Local Clearing Agent Data

A/C Ref

Fund or safekeeping account name

Client Relations Pension Fund

No

Local Agent BIC

BIC identifying the local agent. On one level of clearing, this field is populated with the global custodian BIC.

SBOSUS3FCLS

Yes

Example: Cross-Border, Two Levels of Clearing for DTC

Figure 2 is an example of how to populate the settlement instruction fields for DTC. It includes essential market elements and other recommended fields.

Figure 2 Investment Manager DTC Settlement Instructions, 2 Levels

Table 2 describes the fields.

Table 2  Investment Manager DTC Instructions for Two Levels of Clearing
Field Name Definition Value
Depository/Clearing/Settlement Agency Data

PSET BIC

Place of Settlement

DTCYUS33

Inst/Broker ID

DTC number of investment manager

00048599

Agent ID

DTC number of local agent

00048599

DTC #

DTC Participant ID of local clearing agent

00002266

Participant

Name associated with the DTC ID of local agent

Citibank New York

Settlement Party Data: Local Clearing Agent Data
A/C# @ Local Agent On two levels of clearing, the account of the global custodian at the local agent. 967-01

A/C Ref

Fund or safekeeping account name

Global Development Fund

Local A/C Ref

Name of the account at the local agent

CITIBANK LONDON

Local Agent BIC

BIC identifying the local agent. On two levels of clearing, populate this field with the local agent BIC.

CITIUS33ADR

Settlement Party Data: Custodian Data  

A/C# @ Global Custodian

Fund or safekeeping account at the global custodian.

002266

Custodian BIC

On two levels of clearing, BIC identifying the global custodian. For one level of clearing, this field is left blank.

CITIGB2LXXX