Many financial institutions and brokerage firms struggle with lack of an automated asset transfer process or standardization with counterparty communications and event workflows. Short turnaround requirements have them “jumping through hoops” to timely answer questions or provide information. The difficult and manual processes for internal notification of time-sensitive issues or communicating cost basis on transferred assets often leads to errors and lack of transparency.
Delta Data’s Asset Transfer Manager (ATM) is an automated system that works with and parallel to the Automated Customer Account Transfer System (ACATS), provided through the DTCC, to create a proactive vs reactive method for receiving and delivering assets.
ATM maximizes automation of free receipts and provides real-time alerts to users regarding the status, progress, and completion of a free receive or deliver transactions – minimizing the potential for failures and errors. ATM Integrates with DTCC Cost Basis Reporting System (CBRS) to facilitate the movement of cost basis information on asset transfers with a user interface that enables a multi-sourced information flow.