DTCC ALERT passes 15mn SSIs, launches API service

DTCC announced that DTCC ALERT, the industry’s largest online global database for the maintenance and communication of account and standing settlement instructions (SSIs), has reached a key milestone with over 15 million SSIs, including three million cash SSIs, now included in the service — a 50% increase since 2021.

This growth comes at a critical time, as the US moves to a T+1 settlement cycle in May 2024. Accurate, automated SSIs are key to the facilitation of accelerated settlement, as leveraging golden copy data limits discrepancies that could potentially cause failed or delayed trades.

In addition, DTCC has launched an ALERT API suite, providing market participants with an alternate way to request and receive SSI and market availability data in real time. Before the ALERT APIs, this data was traditionally accessed via web user interfaces. DTCC’s ALERT API suite includes two APIs:

  • Real Time Settlement, enabling investment managers and their outsourcers to retrieve their own specific market, security and depository SSI for a specific account in real time, as well their broker/dealers’ specific market, security and depository SSI.
  • Ready to Settle, in support of client onboarding, enabling investment managers and their outsourcers to obtain a list of available market, security, depository (CSM) combinations for the investment manager account. Third parties can also pull this information on behalf of investment managers per account as well as on behalf of a broker dealers’ permissioned investment manager account.

Bob Stewart, DTCC executive director for Institutional Trade Processing, said in a statement that the ALERT API suite will provide “flexibility and a new way for users to access critical SSI data, adding that “ALERT, and its automated SSI capabilities, is a key enabler of accelerated settlement cycles and reduced trade fails, and we look forward to continuing to enhance the service to meet evolving client needs.”

For over 30 years, ALERT has brought risk mitigation and increased post-trade efficiency to its users, with 53% of SSIs within the platform managed directly by source providers, such as global custodians and prime brokers. Through ALERT’s workflows, custodian banks and prime brokers maintain SSIs on behalf of their clients, further automating the maintenance of timely and reliable SSIs from source providers. ALERT users may also subscribe to SSI enrichment workflows for their use of CTM, DTCC’s automated central matching platform.


Related Posts

Previous Post
UBS, SBI and DBS complete first cross-border repo with digital bond on Ethereum
Next Post
J.P. Morgan, Capital One and RBC lead Evident’s AI maturity index

Fill out this field
Fill out this field
Please enter a valid email address.


Reset password

Create an account