A 4822 - September 10, 1998

Important Notice

A 4822 - September 10, 1998
P&S 4386

TO: ALL PARTICIPANTS

ATTENTION: YEAR 2000 COORDINATORS, MANAGING PARTNER/OFFICER, OPERATIONS PARTNER/ OFFICER, DATA PROCESSING MANAGER, MANAGER MUTUAL FUNDS OPERATIONS, DIRECTOR OF OPERATIONS, YEAR 2000 COORDINATORS

Re: NSCC YEAR 2000 READINESS DISCLOSURE

SUBJECT: YEAR 2000 FILE FORMAT TESTING DEADLINE

I. Participant File Format Testing Deadline:

With respect to Year 2000 compliance, NSCC Participants may use the new eight-digit date formats or remain with current formats on a product-by-product basis. Participants electing to use eight-digit file formats are required to test these files formats with NSCC. Due to extensive Year 2000 testing requirements and Industry-Wide test preparation, NSCC is announcing a deadline for Year 2000 Participant file format testing. If you plan to use eight-digit date file formats, NSCC Participants must apply for testing by October 15, 1998 and must complete testing by year-end 1998. If testing is not completed by year-end 1998, participants will be required to stay at the current formats.

II. Participant Testing Coordination:

Participants should contact the Participant Testing Group (PTG) to schedule any remaining format testing. Any Year 2000 testing questions should be referred to the group. Those participants, who will be converting to NSCC's new eight-digit date file formats and have not initiated file format testing, are requested to do so immediately. Those participants who are currently testing eight-digit date file formats with NSCC should contact NSCC's Participants Testing Group (PTG) and implement these new file formats into production as soon as possible.

III. RECAPS File Format Policy Change

To provide sufficient time to prepare for the Year 2000 Industry Wide test, NSCC will retain the current RECAPS product input and output file formats. The NSCC Year 2000 file format Web site has been revised to display only the current RECAP file formats. All currently available RECAP input and output file formats are Year 2000 compliant and contain either a eight-digit contiguous date field or an optional two digit century code (CC) field.

The product and the affected input and output files identifiers are as follows:

Input:	DataTrak SYSID	Description
RECAPS	17508 *	RECAP CUSIP Submission Input
	17308 **	RECAP Supplemental Input
	17608	RECAP Fail Submission Input

Output:	AutoRoute Job	Description
RECAPS	02050020	RECAP Non-CNS Compared Trade Summary
	02050021	RECAP Projection File
	02050081	RECAP CNS Compared Trade Summary
	02050117	RECAP Contract File

* ' RECAP FILE SYSID 17508 does not contain a date in the current production record layout.
** ' RECAP File SYSID 17308 contains a eight-digit contiguous date in the current production record layout.

IV. Background Material

The current six-digit and new eight-digit date formats are available on NSCC's Year 2000 Web site, www.y2000.org/nscc. This Web site is password protected and participants can obtain their User ID and Password by contacting their account manager.

For further details of Year 2000 participant file format testing, please see NSCC's Important Notice A4578, P&S4161 dated June 10, 1997 and A4710, P&S4277 dated January 13, 1998. Any questions regarding this or any other Year 2000 Important Notice should be directed to the PTG at (212) 412-8505. Any questions regarding, or exception to, the closing of testing windows should be directed to the undersigned at (212) 412-8653.

Robert M. Yodice
Director, Product Development