Alternative Investment Products (AIP) provides a streamlined, automated and centralized processing solution to propel the market for alternative investments.
The Alternative Investment Product (AIP) suite of services is a platform that links global market participants — including broker/dealers, fund managers, fund administrators and custodians — to provide one standard end-to-end process for alternative investments such as hedge funds, funds of funds, private equity, non-traded real estate investment trusts (REITs), managed futures and limited partnerships.
AIP standardizes the way the alternative investment industry communicates information about the security and the associated investments. By effectively addressing the manual, risky operational issues that challenge customers, AIP has improved the alternative investment community’s scalability through increased efficiencies, reduced operational risk and lowered costs.
Created with the collaboration of industry leaders and modeled after the enormous success of DTCC’s Mutual Fund Services, AIP is poised to similarly transform the business of alternative investment products.
The AIP suite of services supports the following:
The services are accessible through XML, mainframe file transfer or CSV spreadsheet uploads.
The AIP suite of services is open to participants in the alternative investment space, including current members of NSCC, SEC-registered advisors, CFTC registered commodity pool operators, trading advisors, SEC registered investment companies, broker/dealers, banks and trusts.
U.S. and non-U.S.-based firms are eligible for membership. Users must sign an AIP membership agreement.
For a growing industry that continues to rely largely on manual processing, NSCC's service offers a number of key benefits:
Improves client service
Enhances functionality and reconciliation
Provides data integrity and security
Firms can initiate the transmission of:
Funds can initiate the transmission of:
Participant Numbers and Settlement:
All AIP members need separate participant numbers for the AIP service. However, all NSCC settlement banking and account requirements remain the same. Settlement obligations for alternative investments will not be netted with other NSCC activity. AIP activity will be settled gross, with debits settled separately from credits.
Please contact DTCC Relationship Management at (212) 855-8877.
Last updated April 04, 2013
DTCC's CBRS streamlines the transfer of mutual fund cost basis information when moving assets between fund companies and broker/ dealers.Read More