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Global Update, an account-maintenance feature of Commission Settlement, gives broker/dealers and other distribution firms an automated, streamlined way to provide fund companies with updated account-representative and branch-change information.

  • About

    Global Update is accessible via mainframe over DTCC’s SMART connection, or through DTCC WebDirect, a Web interface that gives participants direct access over the Internet to services provided by DTCC's subsidiaries.

  • Who Can Use the Service

    Any financial organization interested in the service and that meets NSCC qualifications can use the service.

    Benefits

    • Streamlines the account-rep and branch-update process.
    • Reduces overhead costs associated with manual and paper processing.
    • Gives firms a tool to update information pertaining to many accounts or a single account with one transmission.

  • How the Service Works

    Firm Input - Branch Information:

    • Change of address
    • New branch
    • Closed branch
    • Branch number change

    Firm Input - Account Rep Information:

    • Transfer
    • New account rep
    • Delete account rep
    • Name change
    • Account level representative

    Input and Output Timeframes

    The deadline for firms to input changes is 10:00 a.m. Eastern Time (ET), Monday through Friday, and 12:00 p.m. ET on Saturday. NSCC sends out files at 11:00 a.m. ET, Monday through Friday, and 1:00 p.m. on Saturday. Based on the branch or account representative information received, funds can use the data to globally or individually update their customer accounts. 

     

  • For More Information

    To request additional information, please click here.



    Global Update is a service offering of National Securities Clearing Corporation (NSCC), a wholly-owned DTCC subsidiary. The Service is governed by applicable Rules, Procedures, and Service Guides of NSCC, which contain the full terms, conditions, and limitations applicable to this Service. The Service description herein is for informational purposes only, and NSCC reserves the right to make modifications.

Additional Resources

  • News

    Check out the latest news about Global Update which streamlines the account-rep and branch-update process. Visit the website for more information on mutual fund services.

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  • Legal

    Download legal information about Global Update which reduces overhead costs associated with manual and paper processing. Any NSCC qualified firm can use the service.

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  • Client Center

    View resources for additional support

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