Inaccurate or incomplete standing settlement instructions (SSIs) are the biggest source of settlement failures, most of which result from firms still using manual processes for either the management or communication of SSIs. Even when trades don’t fail, poor data quality resulting from these manual processes can create unnecessary downstream issues and an increase in cybersecurity risk.
Improving automation and centralization of SSI data by leveraging DTCC’s ALERT® platform, the industry’s largest database of golden source account and SSIs, creates a central point of SSI entry and consumption for the industry bringing much needed consistency for data usage and reporting.
There are many ways a firm can access ALERT that allows them to take advantage of automating their SSI process and reduces their ultimate risk of trade failure. For buy-side participants who aren’t yet using ALERT, DTCC can help with a range of available managed solutions that can streamline internal workflows and processes with little effort needed.
Click here to learn more about how ALERT can help your firm.