SEB adopts DTCC ALERT’s Regional Custodian workflow to manage SSIs

SEB will use the Regional Custodian workflow which utilises ALERT for storing SSI data related to fund assets in custody.

By Jonathan Watkins

Skandinaviska Enskilda Banken AB (SEB) has gone live with DTCC’s new ALERT for Regional Custodian workflow via Brown Brothers Harriman (BBH).

The service aims to automate the exchange of standing settlement instructions (SSIs), and according to the DTCC, over 3,000 clients are already using the service.

SEB will use the Regional Custodian workflow which utilises ALERT for storing SSI data related to fund assets in custody and will automate the sharing of data managed by global custodians for security, cash-based and collateral SSIs.

“SEB has been using ALERT for many years together with our clients. Therefore, we see the implementation of the Regional Custodian workflow, together with our partner BBH, as a natural step forward,” said Niklas Nyberg, head of products global custody at SEB.

“The new Regional Custodian workflow will increase efficiency and mitigate operational risk when managing SSI data in ALERT.  With this workflow, we are able to offer our clients automated streamlined access to ALERT, simplifying the SSI data management process.” 

BBH, the first custodian to onboard regional custodian-affiliated investment managers to the service, has been a user of ALERT GC Direct since 2015.

“We are able to assist in onboarding funds serviced by regional custodians which were previously out-of-scope, streamlining client adoption and improving SSI data management,” said Robert Stewart, senior vice president, BBH.

“The offering is well-aligned with our commitment to providing our global clients with industry-leading solutions that increase controls, mitigate risk and provide a superior client experience.”

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