|
| |
INCOMING |
| |
|
Prompt servicing of a customer's request for incoming transfer is crucial in creating customer's first impression and retaining the satisfied customer. When processing an incoming transfer, the on-line system will offer the following benefits to your staff
|
| » |
Automatically pre-populate customer information on the web from your firm's in house system when submitting TIF data and other requests. |
| » |
Automatically pre-populate data that was previously sent and retrieved from NSCC before updating and sending requests to NSCC. |
| » |
Identify incoming assets that are non-tradable or non-holdable by your firm. |
| » |
Automatically restrict or identify incoming assets that are in a Fail to Receive status. |
| » |
On settlement date automatically post entries to customer accounts for incoming assets. |
| » |
Flag positions to be Held for a soft restriction. |
| » |
Customer, Security, and Settlement Exception reports based on data from the Position, Settlement and Activity files. |
| |
OUTGOING |
| |
There are several reasons that make manual processing of outgoing transfers more problematic. Unlike the incoming full transfers, manual entries for positions always need to be entered for partial as well as full transfers. As with incoming transfers, your staff will experience the following benefits that the on-line system offers: |
| » |
Automatically pre-populate all Asset Input information on the web from your firm's in house system. |
| » |
Automatically pre-populate data that was previously sent and retrieved from NSCC before updating and submitting the Asset Input to NSCC. |
| » |
Allow reviewing, editing and approving of Asset Inputs and Adjustments. |
| » |
Verify asset listing from the counterparty for Full and Partial transfers. |
| » |
Identify non-ACATS transfers, and transmit Asset Listings to NSCC for ACATS-eligible validated requests only. |
| » |
Generate Exception reports that readily allow staff to identify and correct issues. |
| |
REJECTS |
| |
Either the receiver or deliverer party can originate ACAT rejects, which can occur before or after the transfer of assets. Depending on the situation, rejects must be handled differently by the firm. |
| » |
If a contra Deliverer firm rejects the request, the Reject Code will drive your firm's possible responses. (Eg. 24hr Reject Code will require an automated updated response within 24 hrs.) |
| » |
If an Incoming Account rejected by your firm prior to Settlement, automatically close the transfer request and cease processing. |
| » |
On-line system will compare incoming assets to your firm’s Security data to identify Incoming Positions that will be rejected by your firm prior to Settlement. |
| |
REVERSALS/RECLAIMS |
| |
Reversals/Reclaims come into picture after the transfer of assets has already occurred. |
| » |
Allow on-line request for Security and Cash Balance reversals and update status of those assets. |
| » |
Allow on-line requests for Security and Cash Balance reclaims. |
| » |
Automatically post reclaimed assets to customer’s account. |
| |
RESIDUALS |
| |
Automated residual credit processing allows credits that accumulate after a transfer is completed, such as stock or cash dividends, to be transferred electronically from the delivering firm to the receiving firm through ACATS. |
| » |
Incoming residuals must be validated against your firm’s Master Security data. |
| » |
If exceptions occur, automatically flag the security to be rejected upon approval. |
|
Allow automated request for outgoing residuals. |
| |
|
