A 4537
P&S 4122 December 31, 1996
TO: ALL PARTICIPANTS
ATTENTION: MANAGER MUTUAL FUNDS OPERATIONS, MANAGER DATA PROCESSING, MANAGER P&S DEPARTMENT, CASHIER
SUBJECT: MUTUAL FUND NETWORKING POSITION FILE ENHANCEMENTS
National Securities Clearing Corporation (NSCC) will continue its efforts to improve the centralized and standardized processing systems it offers for the mutual fund industry with plans to modify the format of the existing NETWORKING Position File Records. As a result, the Position Files, including all header, trailer and detail records for input and output will be expanded from 55 to 80 bytes to provide additional flexibility and data reporting capabilities. This change is scheduled to be effective and ready for production on Monday, March 31, 1997. Participants in the NETWORKING system may be affected, and should plan accordingly. Please note that the modifications described within this notice are scheduled to be implemented in conjunction with other planned enhancements. These other changes, which are detailed in a separate important notice, are pending SEC approval.
NETWORKING, implemented originally in 1988, has undergone several enhancements over time to accommodate changes within the mutual fund industry. The system allows for the exchange of mutual fund customer account level activity and positions through a central and standard processing environment providing firms and funds with the information needed to maintain identical account level information for accurate customer and government reporting functions. NETWORKING also allows for the reporting and centralized net settlement of Dividend and Capital Gains distributions.
The modification to the current format for all Position File Record Types (F57, 58, 59, and 60) will provide flexibility to incorporate additional information in these records as identified from time to time by our existing membership. Concurrent with the format change, one new field will be included in the Position Detail Record (F58) at this time for "Fund Account Number" to enable funds to include this information when NETWORKING Position Files are distributed to participating firms. This field will be a 20 byte alpha-numeric optional field beginning in position 56 and ending in position 75.
Appropriate changes to SIAC's Datatrak and Autoroute communications systems for the NETWORKING Position Files include the elimination of Datatrak input SYSID # 26591 (Networking Fund Position - NJE) and Autoroute output file literal "26591NJE". SYSID # 26325 (Networking Fund Position - RJE) will continue to be used for Datatrak input. Position File output will be included in Autoroute File Number "156F" (file literal "26325RJE").
A new field "TPA Number" will also be added to the Position Header Record (F57) and Position Trailer Record (F59) to identify a Third Party Administrator (TPA) associated with a group of accounts. The addition of this field is part of the development effort underway to facilitate the processing of Defined Contribution Plan transactions within NETWORKING and Fund/SERV. Please refer to Important Notice A-4536, P & S-4121 dated December 31, 1996 for additional information.
Please note that new file formats for all NETWORKING Position Files are included with this notice for your reference. Changes as they apply to the July 1992 formats are indicated in bold type. NSCC is currently in the process of updating the mutual fund service manuals and system documentation, and will distribute revised record formats reflecting these and all other changes in the new documents.
For more information on NETWORKING and other mutual fund services, please contact your account manager, or NSCC's Participant Services in New York at (212) 412-8432. Questions, comments or concerns regarding the enhancements affecting the NETWORKING system outlined in this notice should be directed to the undersigned at (212) 412-8675.
David Warsoff
Senior Planning Project Manager
Position Reporting Records
Position Header Record - Input from Fund to NSCC
The position header record is used to introduce a series of detail position records for a particular broker and CUSIP.
Start End Length Type Field Description REQD./OPT
| 1 1 1 A/N | SYSTEM CODE - 'F' | R | ||
| 2 3 2 N | RECORD TYPE - '57' | R | ||
| 4 5 2 A/N | FILLER - SPACES | R | ||
| 6 9 4 N | CLEARING/SETTLING BROKER NUMBER | R | ||
| 10 13 4 N | CLEARING/SETTLING FUND NUMBER | R | ||
| 14 22 9 A/N | FUND CUSIP NUMBER | R | ||
| 23 28 6 N 29 30 2 A/N |
BALANCE DATE - 'MMDDYY' FILLER - SPACES |
R R |
||
| 31 34 4 A/N 35 80 46 A/N |
TPA NUMBER FILLER - SPACES |
O R |
||
Position Detail Record - Input from Fund to NSCC
The position detail record is used to report individual account positions to the broker. Any account that has both book and physical share positions will require two position records.
Start End Length Type Field Description REQD./OPT
| 1 1 1 A/N | SYSTEM CODE - 'F' | R | ||
| 2 3 2 N | RECORD TYPE - '58' | R | ||
| 4 4 1 N | FILLER - SPACE | R | ||
| 5 24 20 A/N | BROKER IDENTIFICATION NUMBER | R | ||
| 25 36 12 N | CLOSING BOOK/PHYSICAL BALANCE (99,999,999.9999) |
R | ||
| 37 46 10 N | LOI ESCROW BALANCE (999,999.9999) |
R | ||
| 47 47 1 N | SHARE BALANCE INDICATOR 1 = BOOK SHARES 2 = PHYSICAL SHARES |
R | ||
| 48 48 1 A/N | DIVIDEND CODE 0 = DIV CASH/LTCG-CASH/STCG-CASH 1 = DIV-REINVEST/LTCG-REINVEST/STCG-REINVEST 2 = DIV-CASH/LTCG-CASH/STCG-REINVEST 3 = DIV-CASH/LTCG-REINVEST/STCG-REINVEST 4 = DIV-CASH/LTCG-REINVEST/STCG-CASH 5 = DIV-REINVEST/LTCG-CASH/STCG-CASH 6 = DIV-REINVEST/LTCG-REINVEST/STCG-CASH 7 = DIV-REINVEST/LTCG-CASH/STCG-REINVEST |
R | ||
Position Detail Record - Input from Fund to NSCC
Start End Length Type Field Description REQD./OPT
| 49 49 1 A/N | NETWORK CONTROL INDICATOR MATRIX LEVEL (SEE CHAPTER II) 1 = LEVEL 1 2 = LEVEL 2 3 = LEVEL 3 4 = LEVEL 4 |
R | ||
| 50 51 2 A/N | FUND ALPHA CODE | R | ||
| 52 53 2 A/N | BROKER ALPHA CODE | R | ||
| 54 55 2 A/N 56 75 20 A/N 76 80 5 A/N |
FILLER - SPACES FUND ACCOUNT NUMBER FILLER - SPACES |
R O R |
||
Position Trailer Record - Input from Fund to NSCC
The position trailer record is used to recap the detail records for a particular fund CUSIP and broker.
Start End Length Type Field Description REQD./OPT
| 1 1 1 A/N | SYSTEM CODE - 'F' | R | ||
| 2 3 2 N | RECORD TYPE - '59' | R | ||
| 4 5 2 N | SEQUENCE NUMBER - '01' | R | ||
| 6 9 4 N | CLEARING/SETTLING BROKER NUMBER | R | ||
| 10 24 15 N | TOTAL CLOSING BOOK/PHYSICAL SHARE BALANCE (99,999,999,999.9999) |
R | ||
| 25 37 13 N | TOTAL LOI ESCROW SHARE BALANCE (999,999,999.9999) |
R | ||
| 38 44 7 N | TOTAL RECORDS (INCLUDING HEADER AND TRAILER 9,999,999) |
R | ||
| 45 52 8 N | TOTAL ACCOUNTS (99,999,999) |
R | ||
| 53 56 4 A/N 57 60 4 A/N 61 80 20 A/N |
FILLER -SPACES TPA NUMBER (Required if exists on header record) FILLER -SPACES |
R O R |
||
Position Grand Total Trailer Record - Input from Fund to NSCC
The position grand total trailer record is used to recap all records included in a fund=s position file.
Start End Length Type Field Description REQD./OPT
| 1 1 1 A/N | SYSTEM CODE - 'F' | R | ||
| 2 3 2 N | RECORD TYPE -'6' | R | ||
| 4 5 2 A/N | FILLER - SPACES | R | ||
| 6 9 4 N | FUND CLEARING NUMBER | R | ||
| 10 17 8 N | TOTAL POSITION RECORDS (INCLUDING HEADER AND TRAILER 99,999,999) |
R | ||
| 18 80 63 A/N | FILLER - SPACES | R | ||
Position Header Record - Output from NSCC
Start End Length Type Field Description
| 1 1 1 A/N | SYSTEM CODE - 'F' | |
| 2 3 2 N | RECORD TYPE - '57' | |
| 4 5 2 A/N | FILLER - SPACES | |
| 6 9 4 N | CLEARING/SETTLING BROKER NUMBER | |
| 10 13 4 N | CLEARING/SETTLING FUND NUMBER | |
| 14 22 9 A/N | FUND CUSIP NUMBER | |
| 23 28 6 N 29 30 2 A/N 31 34 4 A/N |
BALANCE DATE - 'MMDDYY' FILLER - SPACES TPA NUMBER |
|
| 35 53 19 A/N | FILLER - SPACES | |
| 54 55 2 A/N 56 80 25 A/N |
REJECT CODE FILLER - SPACES |
|
Position Detail Record - Output from NSCC
Start End Length Type Field Description
| 1 1 1 A/N | SYSTEM CODE - 'F' | |
| 2 3 2 N | RECORD TYPE - '58' | |
| 4 4 1 N | FILLER - SPACES | |
| 5 24 20 A/N | BROKER IDENTIFICATION NUMBER | |
| 25 36 12 A/N | CLOSING BOOK/PHYSICAL BALANCE (99,999,999.9999) |
|
| 37 46 10 N | LOI ESCROW BALANCE (999,999.9999) |
|
| 47 47 1 N | SHARE BALANCE INDICATOR 1 = BOOK SHARES 2 = PHYSICAL SHARES |
|
| 48 48 1 A/N | DIVIDEND CODE | |
| 49 49 1 A/N | NETWORK CONTROL INDICATOR 1 = LEVEL 1 2 = LEVEL 2 3 = LEVEL 3 4 = LEVEL 4 |
|
| 50 51 2 A/N | FUND ALPHA CODE | |
| 52 53 2 A/N | BROKER ALPHA CODE | |
| 54 55 2 A/N 56 75 20 A/N 76 80 5 A/N |
REJECT CODE FUND ACCOUNT NUMBER FILLER - SPACES |
|
Position Trailer Record - Output from NSCC
Start End Length Type Field Description
| 1 1 1 A/N | SYSTEM CODE - 'F' | |
| 2 3 2 N | RECORD TYPE - '59' | |
| 4 5 2 N | SEQUENCE NUMBER - '01' | |
| 6 9 4 N | CLEARING/SETTLING BROKER NUMBER | |
| 10 24 15 N | TOTAL CLOSING BOOK SHARE BALANCE (99,999,999,999.9999) |
|
| 25 37 13 N | TOTAL LOI/ESCROW SHARE BALANCE (999,999,999.9999) |
|
| 38 44 7 N | TOTAL RECORDS (INCLUDING HEADER AND TRAILER 9,999,999) |
|
| 45 52 8 N | TOTAL ACCOUNTS (99,999,999) |
|
| 53 53 1 A/N | FILLER - SPACE | |
| 54 55 2 A/N 56 56 1 A/N 57 60 4 A/N 61 80 20 A/N |
REJECT CODE FILLER - SPACE TPA NUMBER FILLER - SPACES |
|
Position Trailer Record - Output from NSCC
Start End Length Type Field Description
| 1 1 1 A/N | SYSTEM CODE - 'F' | |
| 2 3 2 N | RECORD TYPE -'59' | |
| 4 5 2 N | SEQUENCE NUMBER -'02' | |
| 6 9 4 N | CLEARING/SETTLING BROKER NUMBER | |
| 10 24 15 N | TOTAL PHYSICAL SHARE BALANCE (99,999,999,999.9999) |
|
| 25 80 56 A/N | FILLER - SPACES | |
Position Grand Total Trailer Record - Output from NSCC
Start End Length Type Field Description
| 1 1 1 A/N | SYSTEM CODE - 'F' | |
| 2 3 2 N | RECORD TYPE - '60' | |
| 4 5 2 A/N | FILLER - SPACES | |
| 6 9 4 N | BROKER CLEARING NUMBER | |
| 10 17 8 N | TOTAL POSITION RECORDS (INCLUDING ALL HEADERS AND TRAILERS 99,999,999) |
|
| 18 80 63 A/N | FILLER - SPACES | |