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AIP Enhancements Drive Automation and Adoption

By DTCC Connection Staff | 2 minute read | January 25, 2022

DTCC’s Alternative Investment Product (AIP) services – a trading and reporting platform that links global market participants to provide one standard, efficient end-to-end process for the distribution of alternative investments –recently released its latest enhancements.

AIP’s enhancements were gathered through extensive subcommittee meetings with clients and are themed around improved user experience for order processing, more robust reporting, and increased accessibility.

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“As we’ve grown to over 1,500 clients and more than 7,000 unique funds, we began to receive inquiries from smaller firms who were also interested in using AIP, however, they needed an easy, almost turnkey implementation,” said Michelle McLean, DTCC Director of Product Management for AIP. “While any fund can use the new functionality in the AIP Web Platform, we think smaller and midsize funds may see the most benefit – and ultimately, expanding the quantity and diversity of both distributors and funds using the platform brings AIP closer to automating processing for the entire industry.”

The enhancements are divided into the following three categories:

Turnkey Order Processing

  • AIP improved access by creating turnkey order processing for funds. Without the need for a complex technological build, clients can instead access our simple, turnkey implementation with the AIP Web Platform, including order processing with money settlement. Actions like confirming an order or quickly acknowledging account registrations can be completed with just a few clicks. This builds upon previous functionality that allowed broker-dealers and custodians to submit an Order with Registration directly on screen.

Improved Investor and Commission Reporting

  • AIP has improved investor and commission reporting. New closing balance fields were added to the Activity and Distribution records, which allow firms to receive the updated balance as part of the activity (e.g., a distribution) rather than needing to wait for the next Position record. In addition, validations were added and several fields were renamed.

Enhanced Data Access

  • The AIP Web Platform has enhanced data access for clients, increasing compliance and data transparency. Instead of contacting DTCC or counterparties to answer questions, clients can now export a list of their Security General Profiles, Orders, and Account Registrations, with data standardized and stored for easy access.

“We’re excited to be advancing automation for the industry,” said Justin Schwartz, DTCC Executive Director of Product Management for AIP. “Over the next few years, we are planning additional innovative features that will help us continue our vision of full modernization of Alternative Investment processing.”

AIP Clients that want to know more details about the upcoming features can contact Michelle McLean at [email protected]. If you’re not an AIP client but interested in learning how you can become one, click here to contact us.