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Page last updated
February 16, 2003

 

 

I

SASI'S GLOBAL- LINK custody services

provide cross-border safekeeping with real-time reporting


www.sasiny.com

Swiss American Securities Inc. (SASI) combines a long history as a custodian with the latest in technological know-how to provide GLOBAL*LINK Custody Services for financial institutions worldwide. These seamless, standardised, cross-border custody and clearance services offer real-time reporting, highly customisable features and other value-added benefits for clients.

SASI is a member of Credit Suisse Group, one of the world's largest, and most respected, banking organisations. Over 60 years ago, SASI was incorporated in New York to serve as a custodian for Credit Suisse in the U.S. market. Today, backed by a staff that is dedicated to both quality and responsive personal service, SASI's comprehensive custody and clearance services include GLOBAL*LINK Real-Time Reports, Securities Settlement and Safekeeping, Administration Services, Income Collection, Cash Management, Multicurrency Cash and Securities (Statements) Accounting, Corporate Actions Administration, Tax Processing, Access to Research and Market Information, and Advanced Communications.

SASI also provides execution services. This dual function as both custodian and broker is a major benefit to hundreds of clients around the globe, providing single-source convenience for both safekeeping and execution. In both areas, SASI's advanced electronic systems enable clients to reap the advantages of Straight Through Processing (STP).

Many clients also benefit from SASI's clearly and concisely written research and market information, which is available through the Internet, the SASI's proprietary interactive communications system, SASINTEL®, Bloomberg and fax.

GLOBAL*LINK real-time reporting technology
SASI's GLOBAL*LINK electronic reporting provides institutional investors with a real-time standardised view of their global investments, settlement activity, corporate actions and other crucial information. With GLOBAL*LINK's highly customised reports, clients can easily monitor and manage investments across different markets around the world.

GLOBAL*LINK is the latest enhancement in SASI's long tradition of information technology innovation. SASI introduced on-line, interactive communications and pioneered Straight Through Processing, in 1983, with the development of SASINTEL®. Utilising a secure system for data transfer, SASINTEL® enables clients to communicate instructions, receive reports and query the database.

In 1988, SASI joined SWIFT and became the first financial institution in the world to use securities-trading-related SWIFT message types for STP to ensure timely, automated custody and clearance, and trade execution.

In the world's largest securities market, SASI has established a direct computer link to the ID System of DTC (Institutional Delivery System of the Depository Trust Company). SASI can monitor movements between execution and custody and create vital account data for clients. SASI's system can read ISIN, CUSIP, BIC code and broker DTC numbers.

Each new advancement in SASI's technology allows the firm to be more generous in the amount of time clients have to meet instruction and settlement deadlines. SASI focuses on each client's time requirements and pay special attention to fast turnarounds on transactions. Through securities borrowing, SASI is able to ensure that transactions will not fail.

Transaction reports tailored to specific needs
Real-time transaction reports and monthly or periodic status reports are available from SASI. These can be customised to specific information requirements. SASI utilises actual date accounting on transactions, making it quicker to track receive and deliver inquiries, and because of actual date accounting's compatibility with STP.

Customised cash management services
SASI uses an in-house real-time cash management system that allows the firm to monitor client funds at all times and keep clients informed of cash requirements and cash availability over the course of the day. The system permits SASI to provide client-designed reporting.

SASI can perform payments through cash accounts. Instructions via the Internet, SWIFT, SASINTEL®, fax or tested telex are verified and processed immediately if sufficient funds are available. SASI takes into account duly pre-advised incoming amounts. Remaining balances at the end of each day can be invested overnight. Unlike many other custodians, SASI normally pays interest on all credit balances. SASI offers a technical overdraft facility through a collateralised account.

Corporate actions
Each day, SASI's automated systems and expert staff monitor multiple corporate news sources, both electronic and print, for announcements of important developments that can impact holdings. SASI reports corporate actions (mergers, tenders, splits, etc.) and follows up electronically or by telephone to insure a timely response. Proxy voting information is mailed at the client's request for select companies or all holdings. Clients can also select not to receive materials or make a specific request at any time.

Pre-advice of holdings/settlements are reported in real-time. Contents include: Security, Holdings, Nature of the Action, Rate, Expiration Date, and SASI's deadline for notification, if applicable. In special situations, complete information is sent to via SWIFT free format or fax.

Normally, instructions on corporate actions are needed two business days prior to stated deadlines. SASI recognises that this is a key focus area for clients, because of the large sums at risk, and SASI does everything to protect the client's interests. SASI will repeatedly attempt contact by all means available.

Income collection
SASI provides pre-advice on income, with a future value date. The firm's detailed anticipation report shows the security, quantity, amount, tax rate, and total credits on value date. Pre-advice is available days before the payable date on a contractual basis. Income is credited to the account, on the value date, regardless of whether SASI is in receipt of the funds.

Taxation and regulatory issues
SASI's focus on serving institutions worldwide enables the firm to structure a variety of tax treaty accounts, which do not affect custody fees. SASI also have vast experience and procedures in place to assist in dealing with restricted securities and legal transfers (such as Rule 144, estates, and corporate registry). SASI's understanding of the regulatory environment, taxation, and business cultures of international markets can beneficial in many situations.

Daily reconciliation procedures
External holdings are reconciled daily by SASI through electronic reconciliation facilities. The positions at DTC and other depositories are reported daily via computer-to-computer data transfer and compared in-house through a fully automated reconciliation system. Every transaction is also reconciled daily.

Flexible, competitive fees
The value of SASI's high-quality services is further enhanced by a fee structure which is both flexible and competitive.

Comprehensive contingency plans ensure minimal disruption
SASI has implemented several disaster contingency procedures. There is a backup generator on premises in case of loss of power. All necessary equipment and lighting is connected to an un-interruptible (battery) power source which provides a seamless transition to the generator in case of an electrical failure.

Additionally, SASI operates an off-premises disaster recovery centre which is a complete backup facility. This facility and all of the necessary equipment and related procedures are tested regularly as protection against either a short-term or a long-term disaster. This facility is designed to afford full functionality to accommodate the entire company. Related procedures and testing are coordinated by the internal audit department and are documented and kept updated in SASI's Disaster Recovery Procedure Manuals.

High quality personalised service
In every area of cross-border custody, SASI places maximum emphasis on advanced technology backed by highly personalised service. This ensures that accuracy and timeliness remain the hallmarks of SASI's service, as they have been for over 60 years. Clients can count on responsiveness from SASI that other firms have difficulty in matching.

In SASI's organisation, the Account Administrator is a key member of the staff with extensive experience in the industry. Normally, Account Administrators are assigned to a client with the objective of developing a long-term relationship in order that they may anticipate and fully understand the client's very special needs. However, SASI's emphasis on flexibility means that services will be customised to specific requirements.

The main function of the Account Administrator is to coordinate client instructions and to ensure that they are carried out accurately, efficiently, and in a timely fashion. These multilingual professionals also become the focal point for the resolution of outstanding issues. Each Account Administrator works as part of a team to ensure account activities run smoothly at all times. Additionally, many clients also develop a direct relationship with key personnel in specialised areas of the firm. SASI does not discourage this and, if a client desires this type of relationship, SASI will help to develop it.

SASI's staff visits clients regularly to help maintain relations and learn of future requirements. SASI also encourages clients to visit its offices to build relationships and regularly establishes training programs for client employees from every department and hierarchical level.

SASI's comprehensive service capabilities
SASI specialises in providing services that are customised for institutions worldwide, primarily stand-alone private banks, private banks operating within universal banks, pension funds, insurance companies, and brokerage firms. SASI's products are designed to suit the special needs of this particular market, where only a portion of their assets are invested in cross-border markets. With that in mind, all of SASI's reports are written clearly and concisely in English.

SASI's Research Services are focused, concise and available on-line. Among SASI's offerings are Business Statistics/Market Measurements, Market Summary, Investment Policy, Economic Commentary, Summarised Company Reports, Sector Reports, Technical Commentary, Universe of Closely Followed Stocks, and Datewatch. SASI places a special emphasis on events that change the market.

A member of the New York Stock Exchange and principal regional stock exchanges, SASI offers Brokerage Services and Market Information that are comprehensive and technologically sophisticated, including the ability to handle retail order flow. In the area of equities, SASI specialises in blocks and trades requiring special attention. Direct trade entry in U.S. and other markets is possible via various customisable systems, such as SWIFT and SASINTEL®, to SASI's on-line order entry system anytime; even before the market opens; with buy and sell instructions automatically routed to major exchanges or directly to SASI's trading desk for special handling. SASI also has the technology to handle retail order flow. The firm expedites the purchase and sale of options and fixed-income securities. To support decision-making, SASI provides daily market views and opinions, strategies, and technical forecasts.

As a quality source for customised global custody and clearance for institutional clients, SASI is uniquely qualified to support you with GLOBAL*LINK Real-Time Reports, Straight Through Processing (STP), multicurrency valuation capabilities, and single-source convenience for execution services.

 


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