June 28, 2021

Cloud Prime Trust#

Disabled SVG uploads#

This update prevents uploading images of file format .svg to Cloud Prime Trust in order to prevent potentially malicious files from entering the system.

Compliance#

Prevent Customer Identification Program (CIP) checks on incomplete contacts#

This update prevents CIP checks for incomplete contact records of individuals in the United States. If a contact was created without a document check, the system now pauses the CIP/AML check until the document check is submitted. Once the document check is submitted, the CIP call is submitted automatically.

This functionality is only applied if the "Account Aggregate Policies field Require Identity Documents on Auto Approve (Yes / No)" is set to “Yes”.

Custody#

API integrator request account status and update#

This update enables integrators to set an account status to “Pending Closure” in order to prevent users from contributing and disbursing from an account, regardless of the account balance. When the “Pending Closure” status is set, the system applies a Solid Freeze to the account (a disbursement and contribution freeze) but does not automatically close the account.

With this update, integrators can:

• Add “Pending Closure” account status

• Update status to “Pending Closure”

• When updating status to “Pending Closure”, the system sets the Reason Code to “Pending Closure - Client Request”

• Set the Frozen type to “Solid Freeze”

• Update the Account History table to ensure the system can display the request (date, time, Integrator API display name, Freeze Type, Reason Code)

The following SubAccount types are excluded from being frozen:

• Credit Card Instant Settlement

• ACH Instant Settlement

• ACH Reserve

• Omnibus

• Hybrid Omnibus

• Reserve

• Escrow

• College Savings Trust

• Direct Asset Protection Trust

Liquidity#

Delayed settlement#

Delayed settlement gives both sides of a trade enough time to contribute cash/assets before settlement occurs. Previously, the Liquidity API only allowed for instant settlement, which required both parties to have sufficient funds available at the time of the trade execution.

Delayed settlement is only enabled if an integrator enters into an agreement with a trade desk. Prime Trust provides a configuration flag that enables and disables the ability for integrators to specify a trade desk ID and when calling POST /v2/quotes. In order for POST /v2/quotes to be successful, the integrator must have the flag enabled for that trade desk.

The following account policies can be configured:

• “settlement_delay_minutes”

• “settlement_account”

• “auto_settlement_days”

• “auto_settlement_time”

• “settlement_retry_delay_minutes”

• “rejection_delay_minutes”

The following attributes have been added to the Quotes resource:

• delayed_settlement

• settled_at

• rejected_at

• integrator_settled

A Trade Settlement object represents one instance of settlement between a trade desk and an integrator and can be created manually or automatically.

Once a day at a time specified in the account policy, a scheduled job will automatically aggregate all “executed_pending_settlement” Quotes not already linked to a Trade Settlement object and link them to a newly created Trade Settlement object based on your “auto_settlement” account policy.

Use POST /v2/trade-settlements to manually create a settlement.

Depending on where the Trade Settlement is in its life cycle, the system sends different webhook notifications to integrators and trade desks.

External trade ID available in Quote resource#

This update makes available the external trade ID in the Quote resource if a trade desk is calling the GET /v2/quotes endpoints. The id is only made available if the flag is enabled for an account.

This feature will allow trade desks to better reconcile trades in our system against trades in their system since they will be able to map the trade ID in their system