Overview
Regional Custodians/Trustees own the custody relationship with investment managers. They manage local SSIs while leveraging a global custodian's network to access global markets. As a result, investment managers do not have a direct relationship with the global custodian for these accounts.
In this workflow, the investment manager assigns their account to the regional custodian who in turn assigns the account to the global custodian. The global custodian supplies SSIs for open markets, whilst the regional custodian supplies SSIs for markets not maintained by the global custodian.
When the investment manager assigns their account to the regional custodian, the regional custodian receives an Alert message which they must approve. Following approval the regional custodian then assigns the account to the global custodian, using the SI Controller field to identify the GCD acronym.
Detailed documentation that outline this workflow and the specific requirements for implementation can be found below:
ALERT for Regional Custodians/Trustees
# | Name | Description | Added On |
---|---|---|---|
1 |
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This document focuses on GC Direct information, the onboarding steps required to implement GC Direct, and the SSI monitoring process for regional custodians. | Dec 06, 2019 |
2 |
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This document focuses on GC Direct information, the onboarding steps required to implement GC Direct, and the SSI monitoring process for trustees. | Dec 06, 2019 |
For an introduction to the Regional Custodian workflow, watch the below video: