Sleeves Daily Process

When trading sleeves (UMAs or Unified Managed Accounts), the following process needs to be completed on a daily basis.

• Sleeves Update Email
  • Orion Account Analysts send an email that contains information regarding any registrations with reconciliation issues.

• Interface Reconciliation
  • When an email is not received from the Sleeves Reconciliation Team before the market open, verify the reconciliation process has been completed by checking the Interface Reconciliation app. 

• Evaluate Pending Trades
  • Compare pending transactions to the completed transaction in the account. A completed transaction is greater than 15% away from pending, it does not cover.
  • Reject any pending transactions that accounted for.
  • Review the article How to Review Previous Day's Pending Trades for more information on pendings.

• Check for Negative Cash Balances in Sleeves
  • Run the ‘Assets with Negative Balance’ data query.
  • Research any sleeved assets that are negative.
  • Evaluate the why.
  • Correct by using the ‘Sleeve Transfer’ tool in TOM.

• Run Query to find Custodial Accounts with Value
  • Run the ‘Sleeve Custodial Account Assets’ query.
  • Do the assets need to be transferred, liquidated, or excluded?

 

 

Sleeve Data Queries

The following is a list of data queries that are helpful when using sleeves: 

Query ID 1491: Assets with Negative Balance – Any negative asset in the database, whether it is in a non‐sleeved account or any sleeves.

Query ID 6987: Sleeve Adjustment Data Query – Use when new sleeves are going to be added to a registration. Indicate the number of new lines or sleeves that are going to be added. This populates the same information for the sleeves but adds the additional line for information like the Model or Management Style.

Query ID 7060: Sleeve Custodial Account Assets – Finds any asset that remains in the custodial or ‘master’ account after it is sleeved out. This query also indicates whether the asset is excluded or when the custodial account has a minimum cash balance.

Query ID 6875: Sleeve Setup – All current sleeve setups.

Query ID 6346: Sleeve Tolerance – Sleeve targets versus current percent within the registration. Run to use current or pending values, or to view out of tolerance sleeves only as well.

• Data Query Selection
• Run a Data Query
• Schedule a Data Query

To learn more about trading sleeves in the legacy platform view the article Sleeve Trading Guide.