The industry’s largest and most compliant web-based global database for the maintenance and communication of account and standing settlement instructions (SSI)
The ALERT platform is the industry’s largest and most compliant online global database for the maintenance and communication of account and standing settlement instructions (SSI). ALERT enables a community of investment managers, brokers/dealers and custodian banks to share accurate account and SSI automatically worldwide.
- Ensure complete automated communication of account and settlement instructions by connecting to the world’s largest community of SSI database subscribers
- Lower costs and streamline trade processing through automated enrichment of SSI and account information
- Stay ahead of the ever changing industry standard rules with real-time data validation against the latest industry standards
- Take advantage of ALERT’s expanded asset class coverage, Exchange Traded Derivatives and Foreign Exchange instruments are now supported on ALERT
- Increase data quality by establishing multiple levels of authorization for settlement instruction updates/edits
Who Can Use the Service
ALERT for the Buy Side
With SMPG and ALERT community rule validation of market specific SSIs, ALERT ensures an improvement in data quality to broker/dealers. ALERT allows you to set up or edit accounts and either link these accounts to a set of existing instructions via the “model” process or create a new set of instructions. Many accounts can then be attached to a single settlement model, significantly reducing the effort required to maintain individual accounts. You can then notify all broker/dealers affected by the change via the electronic Alerting process within ALERT and account access can be restricted to only those broker/dealers with whom you trade. You can also retrieve broker/dealer SSIs online when needed. In the future, the SSI maintenance can be handled by GC Direct enabled global custodians and prime brokers.
ALERT for the Sell Side
ALERT helps to facilitate communication of a wider range of settlement instructions. By utilizing ALERT, you electronically receive updates to settlement instructions from the buy side via the electronic Alerting process within ALERT. You can also retrieve settlement instructions on a trade-by-trade basis through enrichment. To further expedite processing, broker internal account numbers (BIAs) can be cross-referenced with buy side accounts so that you retrieve only those alerts that pertain to your specific accounts.
ALERT for Custodian Banks and Prime Brokers
With GC Direct, you can electronically manage settlement instructions on behalf of buy side clients via the new industry standard ISO 20022 SSI message through ALERT. This method of connection will be via an authenticated handshake meaning audit requirements are fully met. This also ensures sensitive settlement data is not sent by unsecured E-mail communication. You can also send future effective SSI updates as well, to ensure that all parties know of upcoming changes well before they happen in the market. Broker/dealer SSIs can also be retrieved to ensure accurate communications and the most up-to-date information.