ABOUT

There are well established benefits to business process automation, whose key principles include quality and consistency, timeliness and transparency, governance & reliability, all of which improve operational efficiency. The DTCC Exception Manager benefits extend across the trade lifecycle by applying the same principles to exceptions.

An “exception” refers to a transaction that requires user attention, to ensure the transaction settles successfully. Post-trade exception processing creates operational risk and drives a significant amount of inefficiency for all parties to a trade. Data needs to be consumed and processed from many disparate systems including matching platforms, trading counterparties, settlement entities and market infrastructures. The related communication, predominantly emails, is overwhelming, cumbersome to manage, and introduces risk.

The DTCC Exception Manager platform allows market participants to publish, manage and communicate on exceptions throughout the trade lifecycle process. This exception and workflow management service supports all securities transactions globally. It centralizes and standardizes exception processing to firstly enable faster resolution, and then deliver a significant reduction in the number of exceptions.

Benefits

• A central portal for the entire industry, providing single view of all exceptions
• Analytics to help identify the root cause of operational breaks, providing the ability to solve problems at source (e.g., incorrect SSIs swap).
• A configurable risk dashboard with the ability to measure and chart exceptions based on your risk criteria and organized in your preferred way. Trade drill-down capability and customizable views.
• Efficient work assignment and collaboration on exceptions with automatic assignment to staff, enabling resolution between trade support and pre-settlement groups.
• Secure and controlled chat functionality linked to exceptions
• Audit trails and reports

WHO CAN USE THE SERVICE

The Exception Manager service is for all parties involved in the trade life cycle, including buy-side firms, outsourcers and their underlying clients, broker/dealers, custodians, prime brokers, clearing brokers and other settlement agents.

HOW IT WORKS

The central Exception Manager portal for the entire industry, provide a single view on all post-trade exceptions:

• Exception records are classified into standard generic categories and enriched with additional information.
• A configurable dashboard provides the ability to organize and measure the exceptions by various criteria with an interactive drill-down capability.
• Exception records can be assigned to individual users and/or teams.
• Rules based logic supports efficient work assignment and prioritization on exceptions.
• Communication functionality is integrated and linked to exceptions, audit trails and reports based on customizable fields.