Client Setup

Overview

The Client Setup phase focuses on completing required documentation, configuring program settings, establishing accounts, and defining operational workflows necessary to support the DDM Program.

This phase ensures that all foundational components—legal, operational, and technical—are in place prior to testing and funding.

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Objectives

• Complete all required client documentation and enrollment and set-up forms
• Configure program settings and operational preferences
• Establish required accounts and legal structures
• Define data exchange and reporting methods
• Align on operational workflows and processing schedules

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Key Activities

The following activities are completed during Client Setup. Review the sections applicable to the Client's participation option and implementation requirements.

• Document Access & Submission
• Setup Forms & Configuration
• Decision Points
• Program Account Requirements (Receive-Only & Reciprocal)
• Operational Configuration
• Preparing for Production

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Document Access & Submission

At the start of this phase, Clients receive the setup forms needed for the implementation.

Clients can:

• Receive required forms and reference materials
• Return completed documentation
• Track progress through review and approval

Completed forms are submitted to their Implementation Manager:

• R&T reviews for completeness and accuracy
• Feedback is provided if revisions are required
• Forms are approved once all requirements are met

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Setup Forms & Configuration

Clients are required to complete a series of forms to establish program configuration, compliance alignment, and operational preferences. Each form supports a specific component of the DDM Program. The forms required during Client Setup vary based on the Client's participation option. Review the Applicable To column to determine which forms are required for your implementation.

Note: Additional product or internal documentation links should be referenced here where applicable to provide deeper guidance for each form.

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Decision Points

During Client Setup, several key decisions must be defined based on the Client's participation option. These decisions impact operational workflows, reporting, settlement behavior, and overall program configuration.

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Program Account Requirements (Receive-Only & Reciprocal)

As part of Client Setup, Clients must establish a Program Account titled "Stable Custody Group II LLC, as Agent, for the Exclusive Benefit of its Demand Deposit Marketplace Participating Institutions, as Agent, for the Exclusive Benefit of its Demand Deposit Marketplace Customers, Acting for Themselves and/or Acting in a Fiduciary Capacity for Others" to support participation in the DDM Program.

This section outlines the requirements, structure, and documentation needed to properly configure and maintain this account.

Account Requirements

Open an interest-bearing DDA, MMDA, or GL account in the name of Stable Custody Group II LLC.

Account Title Requirement

"Stable Custody Group II LLC, as Agent, for the Exclusive Benefit of its Demand Deposit Marketplace Participating Institutions, as Agent, for the Exclusive Benefit of its Demand Deposit Marketplace Customers, Acting for Themselves and/or Acting in a Fiduciary Capacity for Others."

Acceptable Alternate Titles

If system limitations prevent the use of the full account title, the following approved alternate titles may be used in order of preference:

1. Stable Custody Group II LLC as agent
2. Stable Custody as agent
3. Stable as agent
4. Stable agent

Any alternate title outside of these options must be approved by R&T.

Authorized Signers

No credit checks should be performed.

LLC Resolution

• Stable Custody Group II, LLC is organized under Delaware law
• The Implementation Manager provides all required documentation as an entity

Program Account Configurations

• No fees (maintenance, wire, or service charges)
• No checkbook or debit card issuance
• Program Account rate should be set to zero (or near zero)

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Operational Configuration

During Client Setup, clients must define key operational parameters that support daily processing, reporting, reconciliation, and program administration within the DDM Program.

Some configuration requirements apply only to specific participation options. The following sections are organized by participation option to help Clients quickly identify the configuration activities and requirements relevant to their implementation.

Receive-Only & Reciprocal Configuration

Balance Reporting Options

Clients must define how the omnibus balance of their Program Account reconciliation will be accessed and reviewed, if applicable.

Option 1: Reconciliation file transmission in BAI2 or other agreed-upon format
Option 2: Manual entry via CAP

• Data is available starting at 5:00PM ET
• Reporting must be completed by 11:00AM ET the next business day

→ See: Data Exchange & File Options – Available file formats, delivery methods, and integration considerations

Deposit Account Reconciliation

R&T’s Proof & Control team ensures balance accuracy between Program Accounts and the DDM Program.

→ See: Operational & Systematic Flow – Learn how transactions move through the system and are reconciled

Send-Only & Reciprocal Configuration

Rate

Clients must define the rate structure applied within the DDM Program.

• The Total-All-In-Cost-of-Funds (TACF) rate includes:
  • Customer interest
  • R&T fee

→ See: Rate Mechanics – Learn how rates are structured, calculated, and applied within the program

→ See: Customer Interest Accruals – Learn how interest is calculated and distributed

Key Considerations

The following operational behaviors should be clearly understood to ensure accurate program execution:

• Only customer interest is posted to the account
• Fees must be wired separately to R&T
• Rates and breakdowns are available in the Daily Account Position report

At month-end:

• Customer interest is posted
• Fees or compensation payments are processed, as applicable to the participation option

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Preparing for Production

The following activities must be completed prior to production funding.

For automated implementations, these activities may occur in parallel with User Acceptance Testing (UAT).

• Wire instruction verification
• Customer Statement and Tax Information Services configuration
• Client Access Portal (CAP) setup (MFA / SSO)

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Inputs & Materials

Pull these from

• Forms
• Portal
• Guides

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Roles & Responsibilities

Client Project Sponsor

Primary point of contact responsible for coordinating internal stakeholders, supporting decision-making, and ensuring overall project alignment.

R&T Implementation Manager

Leads the implementation process, provides guidance, and coordinates activities between the client and R&T.

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Exit Criteria

The Client Setup stage is considered complete, and the client is ready to proceed to the next phase of implementation, when the following criteria are met:

• All required setup forms are completed, submitted, and approved by R&T
• Program configuration details are validated against the executed contract
• Client selections for rates, reporting, and program participation are finalized
• Operational workflows (manual or automated) are defined and agreed upon
• If applicable, FTP/SFTP connectivity requirements are confirmed and in progress or complete
• All required compliance and enrollment documentation is submitted and accepted
• Open questions or dependencies are resolved or documented with clear next steps
• Key client stakeholders understand their responsibilities for ongoing program operations

Successful completion of Client Setup ensures that all foundational components are in place to support a smooth transition into the next phase of implementation.

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What's Next

Testing: Validate configured setups, confirm data accuracy, and ensure all components are functioning as expected prior to funding.