Matthew Nelson, DTCC
The Depository Trust & Clearing Corporation (DTCC), has
announced that Japan Trustee Services Bank (JTSB), and The Master
Trust Bank of Japan (MTBJ), have gone live on the Omgeo ALERT for
Trustee Service via Global Custodian Brown Brothers Harriman
(BBH). The ALERT for Trustee Service connects to ALERT's Global
Custodian Direct (GC Direct) workflow for those markets where
trustees are the legal owners of investment fund assets. BBH, the
first custodian to onboard trustee-affiliated investment managers
to the service, has been an ALERT GC Direct user since 2015.
JTSB and MTBJ will leverage ALERT for storing standing settlement instruction (SSI) data related to fund assets owned by the trust banks, and will automate the sharing of SSI data owned by global custodians for cross-border equity and fixed income trades.
"Trust banks play an important role in the trade life cycle in Japan, and over the years, DTCC's Japanese clients have continued to increase automation and standardization of their trade matching and settlement processes. With ALERT, trust banks are able to share SSI data in an automated and efficient manner among trading parties," said Matthew Nelson, Managing Director, Omgeo Global Product and Strategy at DTCC.