A 4845 -
October 26, 1998
P&S 4409
TO: ALL PARTICIPANTS
ATTENTION: MANAGING PARTNER/OFFICER, P&S MANAGER, CASHIER, FUND/SERV PARTICIPANTS
SUBJECT: VETERANS DAY HOLIDAY SCHEDULE
New York Banks will be closed on Wednesday, November 11, 1998 in observance of Veterans Day. The New York and American Stock Exchanges and the Nasdaq System will be open for trading on Wednesday, November 11, 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 DATE |
NIGHT OF COMPARISON REGULAR WAY INPUT | T + 1 ADJUSTMENTS | T + 2 & OLDER ADJUSTMENTS | T + 3 & OLDER ADJUSTMENTS | SETTLEMENT DATE |
| Nov. 5 | Nov. 5 | Nov. 6 | Nov. 9 | N/A | Nov. 10 |
| Nov. 6 | Nov. 6 | Nov. 9 | Nov. 10 | Nov. 11 | Nov. 12 |
| Nov. 9 | Nov. 9 | Nov. 10 | Nov. 11 | Nov. 12 | Nov. 13 |
| Nov. 10 | Nov. 10 | Nov. 11 | Nov. 12 | Nov. 13 | Nov. 16* |
| Nov. 11 | Nov. 11 | Nov. 12 | Nov. 13 | N/A | Nov. 16* |
| Nov. 12 | Nov. 12 | Nov. 13 | Nov. 16 | N/A | Nov. 17 |
*Double Day Settlement
BALANCE ORDERS
A double-day settlement will result on November 16, 1998. Non-CNS trades of November 10, 1998 and November 11, 1998 will be displayed on the Consolidated Trade Summary and netted for settlement on November 16, 1998.
Balance Orders will not be available for distribution on the morning of the Holiday.
NOTE: Municipal Bond Deliver instructions for settlement date November 12, 1998, which would normally settle in PDQ, should be delivered via DTC's PTS Terminal.
CNS
No settlement will occur on November 11, 1998. The following changes will be made to CNS output schedules:
Consolidated Trade Summary (Including machine-readable output):
| T, AND T+1 TRADES SETTLING ON | T+2 ANDOLDER TRADES SETTLING ON | AVAILABLE ON |
| Nov. 10 | Nov. 9 | Nov. 9 Normal |
| Nov. 11 (No Settlement) | --- | --- |
| Nov. 12 | Nov. 10 | Nov. 10 Normal |
| --- | --- | Nov. 11 None** |
| Nov. 13 | Nov. 12 | Nov. 12 Normal*** |
| Nov. 16 | Nov. 13 | Nov. 13 Normal |
**A Consolidated Trade Summary will not be available on the morning of the Holiday.
***Indicates one-day items for trades of November 10th, and November 11th, settling on November 12, 1998.
Projection Report (Including machine-readable output):
| Projection for Settlement Date | Available On |
| Nov. 10 | Nov. 9 Normal |
| Nov. 11 (No Settlement) | Nov. 9 Normal |
| Nov. 12 | Nov. 10 One Day Early |
| --- | Nov. 11 None**** |
| Nov. 13 | Nov. 12 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: |
| Nov. 10 | Nov. 9 Normal |
| Nov. 11 (No Settlement) | ---- |
| Nov. 12 | Nov. 10 One Day Early |
| ---- | Nov. 11 None |
| Nov. 13 | Nov. 12 Normal |
Accounting Summary (Including machine-readable output):
| Settlement Date | Available On |
| Nov. 10 | Nov. 10 Normal |
| Nov. 11 (No Settlement) | ---- |
| Nov. 12 | Nov. 12 Normal |
DIVIDENDS
Record Dates - Securities with a published record date of November 11,1998 will be changed to November 10, 1998. Since no CNS activity will occur on the 11th, closing positions for these two dates will be identical.
Due Bill Redemption Dates - Securities carrying a due bill redemption date of November 11, 1998 will be changed to November 10, 1998. Again, closing positions for the two dates will be the same.
Payable Dates - Dividends payable on November 11, 1998 will be paid on November 12, 1998.
CENTRAL DELIVERY, SETTLEMENT:
NSCC will not provide Delivery or Settlement Services on Wednesday, November 11, 1998.
INTER-CITY DELIVERIES:
On Tuesday, November 10, 1998, deliveries will be accepted for settlement of Thursday, November 12, 1998.
STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Tuesday, November 10, 1998, for settlement Thursday, November 12, 1998. Settlement date on the input should be November 12, 1998.
AUTOMATED CUSTOMER ACCOUNT TRANSFER (ACAT):
ACAT activity processed on Friday, November 9, 1998, which would normally settle Wednesday, November 11, 1998, will settle on Thursday, November 12, 1998.
ACAT activity processed on Tuesday, November 10, 1998, which would normally settle Thursday, November 12, 1998, will be combined with ACAT activity of Wednesday, November 11, 1998 for settlement Friday, November 13, 1998.
ACAT-FUND/SERV INTERFACE:
ACAT-FUND/SERV Interface activity processed on Wednesday, November 11, 1998 will settle on November 12, 1998.
MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement will occur on Wednesday, November 11, 1998. Activity submitted on Tuesday, November 10, 1998 will settle on Thursday, November 12, 1998.
FUND/SERV AND NETWORKING:
No settlement of FUND/SERV activity will occur on November 11, 1998. The following changes will be made to FUND/SERV output schedules:
| TRADE DATE | SETTLEMENT SUMMARY FILE SETTLEMENT DATE | AVAILABLE ON |
| Nov. 5 | Nov. 10 | Nov. 9 Normal |
| --- | Nov. 11 (No Settlement) | ------ None |
| Nov. 6 | Nov. 12 | Nov. 11 Normal |
Networking activity will be accepted on Wednesday, November 11, 1998, however, no Networking Dividend Cash Settlement will occur on November 11, 1998
ANNUITIES PROCESSING:
No Annuity money settlement will occur on Wednesday, November 11, 1998. Activity submitted on Wednesday, November 11, 198 will settle on Thursday, November 12, 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 in New York at (212) 412-8432.
Gerhard Krobisch
Vice President/Operations