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Tuesday, July 11, 2006

DTCC: Upgrades Almost Ready

by: Neil Anderson, Managing Editor

Those awaiting enhanced data services from the Depository Trust & Clearing Corporation received assurances Tuesday that the organization is on course to deliver.

Technical and functional specs for the redesign of the DTCC's Mutual Fund Profile Service should be completed by late August, with a launch target of early 2007 set for full implementation, according to a release that also outlined some of the improvements.

For the industry, the changes mean an easier time meeting compliance regulations, since streamlining will smooth transmission of information like breakpoint schedules, linkage rules, minimum and maximum investment requirements, and other security-related information.

"By eliminating redundant data entry, the process will become simplified and much more efficient," said Ann Bergin, managing director and general manager of distribution services.  

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