DTCC Participants Can Now Automate ADR Tax Relief with ESP+

On June 12, 2024, a top 5 U.S. bank went live with GlobeTax’s new ESP+ service.


ESP+ is a premium add-on to GlobeTax’s ESP withholding tax processing platform. The service reduces both expenses and risks for DTCC Participants by automating most of the manual steps involved in filing ADR tax relief and reclaims. It also allows for full automation of Canadian Tax Relief for DTCC-held securities.


Through ESP+, DTCC Participants can:

  • Digitally receive dividend announcements and eligibility matrices, automating identification of eligible investors for each event;
  • Automatically send claims to GlobeTax, reducing the need to populate and upload spreadsheets to the ESP website;
  • Automate CA Web elections via ISO 20022 messaging, eliminating manual elections in most instances
  • Automate payment and reconciliation through a payment file that maps to both claims and DTCC payments;
  • Automatically receive status updates for outstanding claims via ad hoc or standard reporting.


Thanks to APIs or SFTP, the service can be implemented quickly and at a low-cost. Offered on a subscription basis, ESP+ can be customized to meet the unique needs of each DTCC Participant. By upgrading to ESP+, Participants can expect annual cost savings that are a multiple of the subscription fee while vastly reducing the risks of manual processing.


A growing number of DTCC Participants are already slated to onboard in the coming year. Interested parties should contact Frank Froio or Greggory Lewis to arrange a demo and learn more.