SUBJECT: MUTUAL FUND PROFILE SERVICE

National Securities Clearing Corporation ("NSCC") filed a rule change with the Securities and Exchange Commission ("SEC") pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934, as amended, to expand its Mutual Fund Profile Service.

Mutual Fund Profile Service provides Members with an automated method of transmitting and receiving information pertaining to mutual funds through a centralized and standardized facility. Currently, Members can receive the daily price and rate file through Mutual Fund Profile Service.

This Rule Filing permits NSCC to expand Mutual Fund Profile Service to include three other categories of data: "member profile", "security issue profile", and "distribution declaration information profile". The information included in each of these profiles will be maintained for each NSCC member participating in Mutual Fund Profile Service and includes the following data: (i) the "member profile" includes personnel contacts, telephone numbers, addresses, commissions payment procedures, processing capabilities, and information regarding Members who act as an agent for other Members; (ii) the "security issue profile" will be maintained on each individual fund included in Mutual Fund Profile Service, and includes information such as minimum purchase or maintenance requirements, fund features, and various fund processing characteristics; and (iii) "distribution declaration information profile" includes projected and/or actual record dates, ex-dates, reinvestment dates and payable dates for dividend and capital gain payments, and may also include Rule 12b-1 plan and other commission payout information.

Members will be notified by separate Important Notice of the specific implementation date for the expanded service.

Written comments on the proposed rule filing may be addressed to David F. Hoyt, Assistant Secretary, National Securities Clearing Corporation, 55 Water Street, New York, New York 10041, and your comments will be forwarded to the SEC. You may also address your written comments to the Secretary of the Commission, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, D.C. 20549. We request that you provide NSCC with a copy of your comments.

Questions regarding NSCC’s services should be directed to Participant Services at (212) 412-8432.

Robert J. Woldow
Managing Director and General Counsel