DTCC’s Institutional Trade Processing’s Settlement Instruction Manager enables clients who use CTM® to achieve straight through processing of matched trades through the automatic creation and transmission of settlement messages in industry standard formats. Through the Settlement Instruction Manager user interface, users can automatically generate and send messages to up to 15 predetermined recipients for each settlement instruction, such as custodians, depositories, fund administrators, legal departments, valuation agents, Japanese Trust Banks, Master KAGs, underlying clients, and other interested parties. The message can be a formal instruction or a COPY message.
Settlement Instruction Manager Messages can be formatted and submitted as:
- SWIFT MT54x via the SWIFT network and/or
- CSV format via sFTP
By utilizing Settlement Instruction Manager trading parties and settlement agents enjoy the benefits of a centralized platform and standard industry interface. Users configure profiles from a combination of fields to determine when to create and/or release settlement instruction messages. Messages can be created for different recipients according to field combinations including Account ID, Currency, Place of Settlement (PSET), Type of Financial Instrument, CTM matching status, etc. The messages can be released automatically or manually, including options to create settlement instruction messages for allocations that are not yet matched on the CTM platform or for records where the counterparty is not using the CTM service.