Major Japanese Banks Go Live with DTCC’s Omgeo Alert

The Depository Trust & Clearing Corporation announced that Japan Trustee Services Bank, Ltd. (JTSB) and The Master Trust Bank of Japan, Ltd. (MTBJ) have gone live on the Omgeo ALERT for Trustee Service via global custodian Brown Brothers Harriman & Co. (BBH). The ALERT for Trustee Service connects to ALERT’s Global Custodian Direct (GC Direct) workflow for those markets where trustees are the legal owners of investment fund assets. BBH, the first custodian to onboard trustee-affiliated investment managers to the service, has been an ALERT GC Direct user since 2015. JTSB and MTBJ will leverage ALERT for storing standing settlement instruction (SSI) data related to fund assets owned by the trust banks, and will automate the sharing of SSI data owned by global custodians for cross-border equity and fixed income trades.