TradeSuite ID ^®

TradeSuite ID has been a cornerstone of the U.S. equity and fixed-income markets for more than 35 years. As the industry has evolved, so has TradeSuite ID – offering market participants robust compliance, streamlined automation, and enhanced functionality.

• About

  TradeSuite ID automates the electronic distribution of trade details between counterparties for post-trade processing of DTC-eligible securities to facilitate electronic settlement and end-users’ regulatory compliance, including the option to enrich confirms with additional disclosures via inSITE (for SEC-registered broker dealers) with an additional subscription. TradeSuite ID also includes a matching functionality via the TradeMatch module of the system. Depending on subscription type, TradeSuite ID includes the option to access archival services (Confirm Archive) and ITP Data Analytics Operational Metrics (including a T+1 Scorecard). A DTCC ITP end-user client can subscribe to TradeSuite ID as a standalone service. The end-user client is not required to subscribe to any other DTCC ITP service to use TradeSuite ID.

• Who Can Use the Service

  End-users who complete DTCC ITP’s requisite legal documentation and client onboarding process can use TradeSuite ID for DTC-eligible transactions. More than 1,600 brokers, investment managers, hedge funds and custodians/agent banks use TradeSuite ID every day to process their U.S. domestic trades.

• Benefits

  TradeSuite ID delivers substantial efficiency and cost savings to firms through automated electronic trade agreement between counterparties. This streamlined end-to-end process reduces operational risk by eliminating manual and verbal communications, while accelerating the time from trade date to settlement. Since firms no longer need to generate and deliver paper confirmations to counterparties, the savings from printing, mailing, and storing trade documents can be significant.

  In an environment where change is constant and reliability often elusive, TradeSuite ID’s solid history and 99.99% availability supporting mission-critical operations stand out. It sets the bar for dependability of electronic trade agreement — even at high volumes of over 2 million confirmations per day.

  In addition, TradeSuite ID

  • Integrates with CTM via CTM’s Match to Instruct (M2i) workflow to generate confirms and affirms at matched agreed which are sent to the DTC Inventory Management System for further distribution and staging for settlement.
  • Has multiple implementation options, allowing for flexibility in the method of system access. Choose from MQ message queuing, CCF batch processing, SWIFT (M509/M515/M517), Participant Browser System (PBS), User Interface (BTI, Confirm Affirm, NearMatch), TradeHub or Partner Interface.
  • Automatically links to DTCC to facilitate settlement of DTC eligible securities (IMS, CNS, IDNet, etc.)
  • Handles high volumes of confirmations quickly and efficiently.
  • Accelerates the confirm/affirm electronic trade agreement process, providing more time to identify errors or mismatches in trade details.
  • Saves industry costs and mitigates operational risk by increasing the likelihood that a trade will settle.
  • Allows for additional disclosures using inSite.

• How it Works

  TradeSuite ID

  • Provides seamless connectivity into DTCC and NSCC, including CNS and ID Net.
  • Handles high volumes of confirmations quickly and efficiently
  • Accelerates the confirm/affirm electronic trade agreement process, providing more time to identify errors or mismatches in trade details
  • Saves industry costs and mitigates operational risk by increasing the likelihood that a trade will settle.
  • Improves customer service.

  TradeSuite ID also enables compliance with all existing and newly introduced mandates from the SEC, FINRA, MSRB and other regulatory agencies. Through a series of “no action” letters, the SEC sanctioned the use of Omgeo solutions to fulfill recordkeeping and disclosure obligations electronically. Broker/dealers who subscribe to inSITE® and Confirm Archive in conjunction with TradeSuite ID can offer clients the peace of mind that post-trade operations are in compliance.

  In addition, these solutions:

  • Meet SEC rule 10b-10 and MSRB Rule G-15 obligations for disclosure of trade details, among other requirements
  • Satisfy SEC rule 17a-3 and 17a-4 for creation, storage and retention of confirmations
  • Promote industry best practices for transparency, auditability, monitoring and control
  • Fulfill FINRA rule 11860 regulatory obligations for confirmation/affirmation processing
  • Assume regulatory and administrative responsibility for archive management