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by Michael Scholl

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  • The Depository Trust Company (DTC) recently launched the initial phase of the Settlement Web, a new user interface that leverages web technology to provide better functionality and easier navigation for settlement services.


    A better user experience

    The Settlement Web, which will deliver primary settlement functions in 2012 and continue to be rolled out in phases over the next few years, is designed to improve the user experience for clients who have traditionally used the Participant Terminal System (PTS) or the Participant Browser Service (PBS) to perform settlement functions.

    “The new Settlement Web interface provides customers with easy-to-use screens and navigation tools to support the management of DTC settlement,” said Susan Cosgrove, DTCC managing director and general manager, Settlement and Asset Services.

    Currently, the Settlement Web is an optional user interface that runs in parallel with PTS and PBS settlement screens. But, as DTC moves to sunset the PBS and PTS screens, it will transition settlement functionalities to be exclusively supported by the Settlement Web.

    The first functionality to be exclusively supported by the Settlement Web will be Receiver Authorized Delivery (RAD). Starting in March 2012, customers will be required to access the Settlement Web to view or update their transactions in RAD.

    Phase one

    "Everything about the Settlement Web is designed to make our customers’ lives easier,” said Jack Manuel, DTCC director, Settlement Product Management. “It consolidates screens and centralizes data, which allows the customer to spend less time engaged with our systems, freeing up their resources for other activities.”

    The first phase of the Settlement Web, which launched August 31 after a successful pilot, has several features that contribute to a user-friendly environment. These include the Navigation Bar, the Settlement Dashboard and a redesigned version of the Activity Research Tool.

    The Navigation Bar provides streamlined access to all settlement functions, with drop-down links to logically grouped settlement-related activities. It also offers seamless connectivity with PBS so customers can access the settlement functions that have not yet migrated to the Settlement Web.

    The Settlement Dashboard, another new feature, is divided into four windows to give clients a consolidated view of key settlement activity. The windows are:

    • Events, which displays key scheduled settlement milestones, along with the times they are expected to occur and the times they are actually completed.
    • Alerts, which notifies participants, either through the Alerts window itself or through email, of various unscheduled settlement events as defined by the user.
    • On-Demand Reporting, which allows users to save, share and schedule frequently executed queries.
    • Information Center, which centralizes settlement-related information, such as user guides and DTCC Important Notices.

    The Settlement Dashboard uses new technology to allow for certain types of information to be delivered to users based on the parameters they submit. It delivers the information as it becomes available, instead of requiring users to navigate through pages to collect data or to frequently log on to the system to check for updates.

    “By pushing information to customers based on their criteria and filters rather than having them spend time and effort pulling it down, the Settlement Web delivers cost and time savings, while also reducing the risk of human error,” Cosgrove said.

    The Settlement Web also includes the Activity Inquiry Tool, an enhanced alternative to the Activity Research Tool. The tool includes multiple options for retrieving activity data, such as allowing users to export up to 5,000 records directly onto an Excel spreadsheet. It also offers improved research and command processing capabilities. It also offers improved research and command processing capabilities. @