存 recently rolled out enhancements to its CNS主代理接口 service to allow for an efficient, automated matching process and asset transfer among Prime Brokers, 利用北卡罗来纳大学的三位一体 连续净结算 (中枢神经系统®)系统, 普遍贸易捕获 (UTC)系统和ITP系统 TradeSuite ID® 系统.
The enhancement to the CNS主代理接口 can also be used for the transfer processing of a Hedge Fund asset position(s) between two prime broker accounts. The interface leverages an existing automated and standardized matching process to reduce the likelihood of fails and reclaims, resulting in more straight-through and less resource intensive asset transfer processing and reduced operational risk.
“The industry request was for an automated matching process of the transfer instructions, and a streamlined method to settle the assets,比尔·卡波吉亚尼斯说, 执行董事, 存结算服务. “We provided several possibilities to clients that met their needs, but it was also important to leverage 存’s current capabilities and efficiencies since this allowed us to offer a viable solution with minimal technology lift for everyone.”
“The introduction of PB Asset Transfers underscores 存’s commitment to collaboration with the industry, offering new tools to mitigate risk and elevate the efficiency of the industry as a whole,杰森·塞夫里诺说, Global Operations Chief Operating Officer, 城堡.
The proposed workflow is flexible and allows clients to determine the preferred settlement path (中枢神经系统 or bi-lateral 直接转矩) settlement of the asset. This will be controlled by the eligibility status of the receiving & delivering Broker Dealer/Agent and Agent ID number. If all parties including the asset being transferred is CNS eligible, upon a completed confirmation and affirmation process, ITP will feed NSCC’s UTC application to be further processed in CNS for settlement. If parties of the transfer choose to bypass CNS processing, ITP upon a completed confirmation and affirmation process, will send bi-lateral settlement instructions to 直接转矩 for settlement.
The CNS主代理接口 for asset transfers leverages existing 存 services that broker/dealers already use in their clearance and settlement process today to achieve matching and settlement for prime broker transaction processing. 这些包括:
- ITP’s TradeSuite ID 系统 – For trade matching and comparison of prime broker transactions
- NSCC’s 通用贸易征收(UTC) 系统 – For trade capture of all street-side trades including ITP prime broker trades
- NSCC’s 连续净结算 (中枢神经系统) 系统 – For netting of settlement obligations to one net position per security per broker where NSCC becomes the central counterparty
- 直接转矩’s 结算 系统 – To accommodate the book-entry deliver order movements to settle their CNS long and short obligations and direct 直接转矩 position movements
"The introduction of PB Asset Transfers underscores 存's commitment to collaboration with the industry, offering new tools to mitigate risk and elevate the efficiency of the industry as a whole." - Jason Sefferino, Global Operations Chief Operating Officer, 城堡."
The enhancements were developed with the participation of several firms, who served on an industry working group. 根据卡波吉亚尼斯的说法, it was this cooperation and collaboration in the working group that enabled 存 to bring this new enhancement to market. “Collaborations such as this really help 存 enhance and build its service offerings,卡波吉亚尼斯说. “We appreciate the active participation of clients in our working groups.”
The enhanced CNS主代理接口 service is now available to all NSCC clients. For more information, please contact 存 client services at 1-888-382-2721.