A 4829
- September 22, 1998
P&S 4393
TO: ALL PARTICIPANTS
ATTENTION: MANAGING PARTNER/OFFICER; P&S MANAGER, CASHIER, FUND/SERV PARTICIPANTS
SUBJECT: COLUMBUS DAY HOLIDAY SCHEDULE
New York Banks will be closed on Monday, October 12, 1998 in observance of Columbus Day. The New York and American Stock Exchanges and the Nasdaq System will be open for trading on Monday, October 12, 1998.
The following changes in NSCC's Operations and schedules will be in effect:
EQUITY COMPARISON (LISTED AND
OTC) AND FIXED INCOME TRANSACTION
SYSTEM - FITS:
|
SUBMISSION OF TRADE DATA |
|
|||
TRADE |
NIGHT OF COMPARISON |
T + 1 ADJUSTMENTS |
T + 2 & OLDER ADJUST-MENTS |
T + 3 & OLDER ADJUST-MENTS |
SETTLEMENT DATE |
Oct. 6 |
Oct. 6 |
Oct. 7 |
Oct. 8 |
N/A |
Oct. 9 |
Oct. 7 |
Oct. 7 |
Oct. 8 |
Oct. 9 |
Oct. 12 |
Oct. 13 |
Oct. 8 |
Oct. 8 |
Oct. 9 |
Oct. 12 |
Oct. 13 |
Oct. 14 |
Oct. 9 |
Oct. 9 |
Oct. 12 |
Oct. 13 |
Oct. 14 |
Oct. 15* |
Oct. 12 |
Oct. 12 |
Oct. 13 |
Oct. 14 |
N/A |
Oct. 15* |
Oct. 13 |
Oct. 13 |
Oct. 14 |
Oct. 15 |
N/A |
Oct. 16 |
BALANCE ORDERS:
A double-day settlement will result on October 15, 1998. Non-CNS trades of October 9, 1998 and October 12, 1998 will be displayed on the Consolidated Trade Summary and netted for settlement on October 15, 1998.
Balance Orders will not be available for distribution on the morning of the Holiday.
NOTE: Municipal Bond Deliver instructions for settlement date October 13, 1998, which would normally settle in PDQ, should be delivered via DTC's PTS Terminal.
CNS:
No settlement will occur on October 12, 1998. The following changes will be made to CNS ouput schedules:
Consolidated Trade Summary (Including machine-readable output):
| T, AND T+1 TRADES SETTLING ON |
T+2 AND OLDER TRADES SETTLING ON |
AVAILABLE ON |
Oct. 9 |
Oct. 8 |
Oct. 8 Normal |
Oct. 12 (No Settlement) |
--- |
--- |
Oct. 13 |
Oct. 9 |
Oct. 9 Normal |
--- |
--- |
Oct. 12 None** |
Oct. 14 |
Oct. 13 |
Oct. 13 Normal*** |
Oct. 15 |
Oct. 14 |
Oct. 14 Normal |
***Indicates one-day items for trades of October 9th, and October 12th, settling on October 13, 1998.
Projection Report (Including machine-readable output):
Projection for Settlement Date |
Available On |
Oct. 9 |
Oct. 8 Normal |
Oct. 12 (No Settlement) |
--- |
Oct. 13 |
Oct. 9 One Day Early |
--- |
Oct. 12 None**** |
Oct. 14 |
Oct. 13 Normal |
*
*** A Projection Report will not be available on the morning of the holiday.
Exemption and Priority Input:
To Control Settlement Of |
Member Should Submit On: |
Oct. 9 |
Oct. 8 Normal |
Oct. 12 (No Settlement) |
---- |
Oct. 13 |
Oct. 9 One Day Early |
---- |
Oct. 12 None |
Oct. 14 |
Oct. 13 Normal |
Accounting Summary (Including machine-readable output):
Settlement Date |
Available On |
Oct. 9 |
Oct. 9 Normal |
Oct. 12 (No Settlement) |
---- |
Oct. 13 |
Oct. 13 Normal |
DIVIDENDS:
Record Dates - Securities with a published record date of October 12, 1998 will be changed to October 9, 1998. Since no CNS activity will occur on the 12th, closing positions for these two dates will be identical.
Due Bill Redemption Dates - Securities carrying a due bill redemption date of October 12, 1998 will be changed to October 9, 1998. Again, closing positions for the two dates will be the same.
Payable Dates - Dividends payable on October 12,1998 will be paid on October 13, 1998.
CENTRAL DELIVERY, AND SETTLEMENT:
NSCC will not provide Delivery or Settlement Services on Monday, October 12, 1998.
INTER-CITY DELIVERIES:
On Friday, October 9, 1998, deliveries will be accepted for settlement of Tuesday, October 12, 1998.
STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Friday, October 9, 1998, for settlement Tuesday, October 13, 1998. Settlement date on the input should be October 13, 1998.
AUTOMATED CUSTOMER ACCOUNT TRANSFER (ACAT):
ACAT activity processed on Thursday, October 8, 1998, which would normally settle Monday, October 12, 1998, will settle on Tuesday, October 13, 1998.
ACAT activity processed on Friday, October 9, 1998, which would normally settle Tuesday, October 13, 1998, will be combined with ACAT activity of Monday, October 12, 1998 for settlement Wednesday, October 14, 1998.
ACAT-FUND/SERV INTERFACE:
ACAT-FUND/SERV Interface activity processed on Monday,
October 12, 1998 will settle on October 13, 1998.
MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement will occur on Monday, October 12, 1998. Activity submitted on Friday, October 9, 1998 will settle on Tuesday, October 13, 1998.
FUND/SERV AND NETWORKING:
No settlement of FUND/SERV activity will occur on October 12, 1998. The following changes will be made to FUND/SERV output schedules:
SETTLEMENT SUMMARY FILE |
||
TRADE DATE |
SETTLEMENT DATE |
AVAILABLE ON |
Oct. 6 |
Oct. 9 |
Oct. 8 Normal |
--- |
Oct. 12 (No Settlement) |
------ None |
Oct. 7 |
Oct. 13 |
Oct. 12 Normal |
Networking activity will be accepted on Monday, October 12, 1998, however, no Networking Dividend Cash Settlement will occur on October 12, 1998.
ANNUITIES PROCESSING:
No Annuity money settlement will occur on Monday, October 12, 1998. Activity submitted on Saturday, October 10, 1998 and Monday, October 12, 1998 will settle on Tuesday, October 13, 1998.
Any questions regarding this notice should be directed to Mr. Danny Ronan (SIAC) at (212) 383-7676, Mr.Randy Walther (SIAC) at (212) 383-7104 or Participant Services at (212) 412-8432.
Gerhard Krobisch
Vice President/Operations