Our ITP Best Practices Scorecard is intended to help clients evaluate where they stand on the journey to realizing a no-touch processing workflow leveraging their current investments in ITP. The Scorecard addresses each phase of the lifecycle—trade enablement and enrichment, agreement, notification and settlements management, and data analytics to help clients adhere to and maximize their current use of ITP solutions.
How will our clients know their system setup is ideal?
Explore the below to discover best practices for each phase of the lifecycle, ways to measure your progress and where to learn more. Select a workflow stage to discover measurement best practices:
Best Practice
100% of SSIs maintained by your custodians or prime brokers
Measurement
100% of buy-side's SSIs are maintained by your Custodian via GC Direct or by the Prime Broker using the ALERT for PB workflow in ALERT
All available SSIs are retrieved from ALERT
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Best Practice
100% SI Scan compliance with all local market rules
Measurement
ALERT compliance rate of SSIs is 100%, as shown on the ALERT homepage once logged in
SI Scan Upload Guide
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Best Practice
Just-in-time SSI enrichment from ALERT of your SSIs highlighting to your counterparty your settlement preference
Measurement
Submits either ALERT keys or uses AKAS for real-time ALERT SSI enrichment on 100% of CTM trades
CTM Enrichment Options
Best Practice
Uses central matching for all your trades and manages trade exceptions in real-time via an automated tool
Measurement
Uses a central matching system like CTM for 100% of your trades (domestic and global) and does not perform duplicative matching
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Best Practice
Matches PSET with counterparty in an automated manner
Measurement
100% of your CTM matching profiles have PSET matching turned on
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Best Practice
Includes a tolerance amount in your matching profiles to limit exceptions where possible
Measurement
Does not use exact match on financial amounts in your matching profiles when possible.
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Best Practice
Either doesn’t use Broker Matching Groups (BRMGs) or manages your membership
Measurement
Does not use BRMGs or if used 100% of BRMGs are valid and only include brokers from the same organization.
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Best Practice
Uses View Only Broker in applicable BRMGs & View Instructing Party Alleged (VIPA)
Measurement
Existing View Only Broker (VOB) BICs added to all applicable BRMGs and VIPA subscription is turned on.
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Best Practice
Uses the authoritative trade record resulting from the CTM match for instructing your custodians/agents/CSDs, including counter- party SSIs enriched directly from ALERT
Measurement
ITP Settlement Notification user or takes back CTM Info Settlement Response message and counterparty SSIs are enriched directly from ALERT when available to instruct your custodians/agents/CSDs
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Best Practice
Populates PSET and PSAFE according to market best practice
Measurement
Has CBIC subscription turned on to map PSAFE onto SWIFT when applicable
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Best Practice
Receives pre-settlement and settlement status messages or settlement confirmation files and manages settlement exceptions in real- time via an automated tool
Measurement
Uses DTCC Exception Manager and Settlements Management or similar automated tool to receive or send pre-settlement and settlement status messages or settlement confirmation files
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Best Practice
Greater than 99% Same Day Agreement
Measurement
> 99% CTM match rate on market trade date
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Best Practice
Greater than 90% Block exceptions fixed within 1 hour
Measurement
> 90% of Block exceptions fixed within 1 hour
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Best Practice
Less than 1% Block touch rate
Measurement
< 1% of Blocks are touched to resolve exceptions
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Best Practice
All client SSIs maintained in ALERT
Measurement
100% of your IM counterparty SSIs are maintained in ALERT (e.g. via ASSIsT or Broker SSI Liftout)
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Best Practice
100% SI Scan compliance with all local market rules
Measurement
ALERT compliance rate of SSIs is 100%, as shown on the ALERT homepage once logged in
SI Scan Upload Guide
Watch Now
Best Practice
Electronically processes settlement preferences
Measurement
Submits either ALERT keys or uses AKAS for real-time ALERT SSI enrichment on 100% of CTM trades
CTM Enrichment Options
Best Practice
Uses central matching for all your trades and manages trade exceptions in real-time via an automated tool
Measurement
Uses a central matching system like CTM for 100% of your trades (domestic and global) and does not perform duplicative matching
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Best Practice
Matches PSET with counterparty in an automated manner
Measurement
100% of your trades match the IM’s PSET where IM has PSET matching turned on
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Best Practice
Uses View Only Broker (VOB) BIC for block transparency with IMs that use BRMGs
Measurement
Has implemented View Only Broker (VOB) BIC in CTM and can query for blocks alleged against your VOB BIC by an IM using BRMGs
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Best Practice
Uses the authoritative trade record resulting from the CTM match for instructing your custodians/agents/CSDs, including counter- party SSIs enriched directly from ALERT
Measurement
Takes back CTM Info Settlement Response message and counterparty SSIs enriched directly from ALERT when available to instruct your custodians/agents/CSDs
Learn More
Best Practice
Populates PSET and PSAFE according to market best practice
Measurement
Maps PSAFE onto SWIFT when applicable
Learn More
Best Practice
Sends pre-settlement and settlement status messages or settlement confirmation files and manages settlement exceptions in real- time via an automated tool
Measurement
Uses DTCC Exception Manager and Settlements Management or similar automated tool to receive or send pre-settlement and settlement status messages or settlement confirmation files
Learn More
Best Practice
Greater than 99% Same Day Agreement
Measurement
> 99% CTM match rate on market trade date
Learn More
Best Practice
Greater than 90% Block exceptions fixed within 1 hour
Measurement
> 90% of Block exceptions fixed within 1 hour
Learn More
Best Practice
Less than 1% Block touch rate
Measurement
< 1% of Blocks are touched to resolve exceptions
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Best Practice
Greater than 99% Same Day Block Entry
Measurement
> 99% of sell-side blocks entered on market trade date
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