The Gateway to Algorithmic and Automated Trading

Japanese trust banks adopt DTCC's Omgeo ALERT

First Published 29th August 2017

SSI Utility addresses risk and operational costs associated with trade failures

Matthew Nelson, DTCC

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.