The global administration of your investments is at the heart of our business. We know what it takes to settle and report your transactions in a smooth and efficient manner. Whether for a single account, or multiple account or consolidated account, we can provide you with an instant insight into your portfolios, no matter how many brokers and asset managers you work with.
ABN AMRO Mellon provides a comprehensive securities processing and settlement service for all securities types on recognised exchanges throughout markets worldwide. Contractual settlement is offered in markets. All other markets across all asset classes and registration locations, including physical delivery of securities, are settled on an actual basis. An emphasis is placed on Straight Through Processing (STP) throughout the trade process.
At ABN AMRO Mellon we adopt a proactive approach to settlement. Our pre-matching settlement process is fully automated and based upon the MT548 SWIFT message. Regardless of the means of communication, all trades are processed immediately in real-time upon their receipt, and can be viewed on-line via Workbench. Potential issues, which may affect the settlement of a trade, are identified during the pre-matching process. Discrepancies are shown in reports, which are sent to our clients, and all reported issues are followed up by our specialists in order to be resolved prior to the settlement of the trade.
Our preferred method of communication is SWIFT. We make full usage of SWIFT's capabilities in our communication of both securities and cash messages. We are committed to capturing both client information and investment manager trade and cash information via electronic communications. By receiving information electronically as opposed to fax or Telex, we minimise trade fail rates, relieving clients and their investment managers of administrative burdens related to reconciling information discrepancies.
Our Income Collections Group is responsible for monitoring and claiming income that is past due on behalf of our clients. The group takes a proactive approach to income collection. From the time income payments are announced, through to the actual collection of funds, we ensure that all income, regardless of how unique, is collected. The team receives income collection information from vendors through an automated interface directly to our custody management system on ex-date. With this security specific information, we run a report listing all clients holding the security and the amount of income due.
For contractual income, the funds are paid directly to our clients' accounts and auto-settled on our system on contractual settlement date. Income is credited to our client accounts in local currency.
ABN AMRO Mellon recognises the risk that is inherent in corporate action processing and the flow of information from the investment manager to the issuer or registrar of the securities. As a Global Custodian, we play a major part in the processing of instructions and entitlements in ensuring a well controlled and procedural environment to mitigate risk.
In response to the changing needs of a diverse client base, ABN AMRO Mellon has developed corporate action notification and response capabilities via our Workbench product.
ABN AMRO Mellon has appointed the services of Automatic Data Processing (ADP) Inc to support our global proxy process. ADP acts as the notification and ballot collector for all the markets in our subcustodian network. ADP uses its proprietary voting system as a means of on-line notification and vote processing for meetings according to your instructions.
ABN AMRO Mellon has a dedicated unit of Tax reclaim experts, who have a wealth of experience between them. We focus on ensuring that our clients receive the most beneficial tax treatment through processing tax reclaims, exemptions and relief at source. We assume a proactive approach to claiming tax refunds. We complete documents as required in every market where relief at source is possible. Where relief at source is not available, reclaims are accrued for in every market possible and submitted within required timeframes. We have developed a Tax Reclaim System for logging, recording and accounting all tax receivables.
As part of our client service, we provide daily information about the global markets and keep you continuously updated on changes in operational policies and global custody standards for trading around the world. Our securities lending clients are offered a special market update that appears every fortnight.
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