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DTCC Unveils Fund Service Redesign

The Depository Trust&Clearing Corporation (DTCC) has launched a redesigned service to streamline the gathering of fund prospectus information.
Reported by Fred Schneyer

By completing the update of its Mutual Fund Profile Service, DTCC’s National Securities Clearing Corporation (NSCC) subsidiary is providing the fund community with information that includes investment objectives, fee schedules and contingent-deferred sales charges, blue sky information, and commission data, according to a news release.

The new service model will eliminate repetitive data entry, streamline the quality-control process, and increase reporting flexibility by fund companies and their distributor partners, according to DTCC.

Employing Web screens, funds can feed data into the service at one level and automatically flow the information to other relevant levels. Distributors will use the same screens to request and access information.

More information about the service is available here.