Transforming the Position Transfer Process

Position Transfers, primarily a back-office administrative function, have been mostly a time-consuming manual process. Transfers are performed in response to client requests to move positions to correct allocations, balance portfolios, manage risk, optimize margin or handle events such as mergers and acquisitions or changes in clearing relationships. With the release of a new DMIST standard, the industry now has a framework to accelerate processing times, more efficiently collect the data needed to effect the position transfer and set the stage for automating the process. Representatives from brokerage firms, clients and clearinghouses will share their insight on how clients, clearing members and clearinghouses can work together to streamline the Position Transfer process and reduce risk.