Settlement & Funding
The following reports provide the formal confirmation and the specific instructions needed to move funds to or from the DDM Program.
Net Settlement Report
This report acts as the official notification of the daily net activity. It provides the final dollar figure that the system has calculated for settlement.
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Purpose: To inform the client of the daily settlement figure.
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Operational Flow: The report is emailed to the client and also made available on CAP. If the client agrees, no reply is needed; if the Client disagrees, the Client must contact DDM Operations immediately to reconcile.
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Key Data Point: It explicitly states whether the net settlement is a DEPOSIT (funds moving into the DDM Program) or a WITHDRAWAL (funds moving out of the DDM Program). If Client is acting in a Send-Only capacity, this email would be the instruction used by the Client to either wire funds into the DDM Settlement Account at the Custodian Bank or expect a wire from the DDM Settlement Account at the Custodian Bank.
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Versions: Available in Standard Version (Client-Level) or an Office Code Version for clients needing data separated by specific internal branches or codes.
Visual Reference: Net Settlement Report (Sample Report Data)
Demand Deposit Marketplace
[email protected]
Phone: (800)456-5567
Standard Version:
DATE
Client Code: BXXX
Client Name: CLIENT NAME
Your DDM Net Settlement as a Sending Bank is a DEPOSIT in the amount of $2,305,211.23.
If you DO NOT AGREE with the above amount, please contact DDM Operations immediately by emailing [email protected] or phone (800)456-5567 to reconcile.
If you are in agreement with this amount, NO REPLY IS NEEDED. If you have not contacted us by 3:30PM ET, your institution will be deemed to have agreed to the above amount and we will process based on the above amount.
PLEASE NOTE: If there is activity, a transfer form will be generated later today instructing you to transfer this amount between your internal settlement account and the SCG II Deposit Account. If for any reason your institution does not receive 100 percent reciprocity, or if shortfall or prepaid interest is included at month end, the transfer form will also contain wire instructions.
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Sending Institution MTD Prefunded Interest and Supplemental Interest Payable*
MTD Prefunded Interest: $0.00
MTD Supplemental Interest Payable: $332.61
*The above MTD Prefunded Interest and Supplemental Interest Payable totals are calculated through the prior business day's close.
Office Code Version:
Demand Deposit Marketplace
[email protected]
Phone: (800)456-5567
DATE
Client Code: BXXX
Client Name: CLIENT NAME
Your DDM Net Settlement as a Sending Institution is a WITHDRAWAL in the amount of $1,438,707.12.
Your breakdown is below:
The activity for OFFICE CODE 1 is a withdrawal in the amount of $2,925,115.83
The activity for OFFICE CODE 2 is a purchase in the amount of $1,487,408.71
If you are in agreement with this amount, NO REPLY IS NEEDED.
If you disagree with this amount, please contact DDM Operations by emailing [email protected] or phone (800)456-5567 as soon as possible to reconcile.
PLEASE NOTE: If there is activity, a transfer form will be generated later today instructing you to transfer this amount between your internal settlement account and the the SCG II Deposit Account. If for any reason your institution does not receive 100 percent reciprocity, or if shortfall or prepaid interest is included at month end, the transfer form will also contain wire instructions.
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Sending Institution MTD Prefunded Interest and Supplemental Interest Payable*
MTD Prefunded Interest: $0.00
MTD Supplemental Interest Payable: $0.00
*The above MTD Prefunded Interest and Supplemental Interest Payable totals are calculated through the prior business day's close.Net Wire Transfer Instructions
This is the formal authorization form used to initiate the actual movement of funds. It is only generated if there is activity (i.e., the Settlement Amount is not $0.00).
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Purpose: Provides specific internal and wire transfer instructions to move funds for daily settlement.
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Operational Flow: It is generated after the allocation process is complete (approximately 1:30 PM EST and 4:00 PM EST).
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The "Two-Step" Movement:
1. Internal Transfer: Moving funds between the client's internal settlement account and the designated DDM account.
2. Wire Transfer: Instructions to wire funds to/from the Settlement Bank if required to maintain the client's reciprocal balance.
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Compliance Requirement: The form includes a section for a Preparer's Signature, serving as the authorization for the money movement initiation process.
Visual Reference: Net Wire Transfer Instructions (Sample Report Data)
Bank Name
Demand Deposit Marketplace℠ Transfer Form
____________________________________________________________________________________________
Date: Time: | Preparer's Signature:
Date Time |
_____________________________________________________________|
Number of automated withdrawals this month: |
|
_____________________________________________________________|______________________________
Prepared by: | Customer Name:
R&T Deposit
Marketplace, LLC | Bank Name (and logic/legal text describing the transfer of funds
| between accounts to maintain the client's reciprocal balance).
___________________|________________________________________________________________________
INTERNAL TRANSFER
____________________________________________________________________________________________
Debit for Withdrawals: | Credit for Deposits:
_____________________________________________|______________________________________________
Debit: | Credit: Account #: XXXXXXX
_____________________________________________|______________________________________________
Amount: | Amount: $3,243,315.00
_____________________________________________|______________________________________________
Credit: | Debit: Account #: XXXXXXX
_____________________________________________|______________________________________________
Amount: | Amount: $3,243,315.00
_____________________________________________|______________________________________________
WIRE TRANSFER
____________________________________________________________________________________________
Please wire withdrawals to: | Please wire deposits to:
|
[SETTLEMENT BANK NAME] | Settlement Bank Name
ABA: XXXXX100 | ABA: XXXXX111
Account: XXXXXX328 | Account: XXXXXX503
Reference: MSSXXXX328 |
|
|
|
|
_____________________________________________|______________________________________________
Please contact [email protected] with any questions or concerns.
____________________________________________________________________________________________
Please deliver to: Bank Name
Address Line
City, State Zip Code
Attn: Name
____________________________________________________________________________________________
Transaction Not Processed Due to:
____________________________________________________________________________________________
| Total Cumulative Transfer Amount
| for Today: $0.00
_____________________________________________|______________________________________________Updated 10 days ago