Improvement
To the “Free of Payment Custody Transfer” function in the NoMe system
Free of Payment Custody Transfer (TSF) – Maintenance of Acquiring Account for Custodian Change
Greater flexibility for custodians to manage their clients' accounts.
Greater flexibility for custodians to manage their clients' accounts.
The “Free of Payment Custody Transfer” function in the NoMe system has been enhanced to allow change of custodian to be made without the need to change the carrying account. This alternative will be available in situations where the account is managed by the same custodian.
Changing the acquiring account, in cases where the reason is "04 - Change of Custodian", will be possible while the trade is pending approval. The initiative is part of the Securities Transfer System (STVM) modernization project and brings greater flexibility for custodians to manage their clients' accounts.
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Product benefits
Greater flexibility
For custodians to adjust the carrying account
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While the trade is pending approval, the acquiring account may be changed in free of payment transfer transactions
The NoMe system guarantees the entire infrastructure for the OTC market, with solutions in financial assets, securities and Non-Centrally Cleared OTC derivatives, securities registration and deposit, valuation of instruments, trading, settlement, liens and encumbrances.
Upcoming Implementations
Expansion of systems improvements
The project brings greater flexibility to market participants requesting free of payment custody transfer in connection with the Securities Transfer System (STVM) custody transfer modernization project.
Timeline
-
08/26/2024
Go-live
Available to the market
Technical details
Catalog changes
No catalog changes
Main systems
NoMe
Main related functions
Free of Payment Custody Transfer
Certification roadmap
Optional and not available
What is the Sinacor version?
No impact
