A 5152
- September 18, 2000
P&S 4712
TO: ALL PARTICIPANTS
ATTENTION: MANAGER MUTUAL FUNDS OPERATIONS, MANAGER DATA PROCESSING, MANAGER CASHIERS, MANAGER P&S DEPARTMENT
SUBJECT: TESTING INFORMATION FOR POST SETTLEMENT CORRECTIONS & CANCELLATIONS and W8 MODIFICATIONS
Effective November 20, 2000 the modifications to the Fund/SERV, Networking and ACATS services to accommodate post-settlement (for corrections and cancellations) and the W8 changes (for the new Internal Revenue Service regulations for foreign account certification) will be implemented.
All mutual fund participants are required to comply with the modified layouts whether or not the post-settlement functionality will be supported. Please refer to Important Notices A#5070 (P&S#4632), A#5109 (P&S#4669) and A#5131 (P&S#4691), dated March 22, 2000, June 2, 2000 and August 4, 2000 respectively for the system changes.
Testing for post settlement and W8 in Fund/SERV and Networking will begin on October 16, 2000. Testing of ACATS-Fund/SERV will be available on October 23, 2000.
The new record layouts are available on the web site formats.nscc.com. The new Fund/SERV layouts have a separate heading with an effective date of November 20, 2000 for both the 6 and 8 digit formats. Networking has the changes highlighted within the existing formats. Please review the file layouts on the web to ensure that you are working with the most current version.
A User Guide was developed with examples of Post Settlement transactions submitted by funds and firms. It can be found on our Mutual Fund web site mfs.nscc.com (formerly called fundserv.nscc.com)
Participants should find partners for this testing effort. Testing contacts at firms and funds are listed on the mfs.nscc.com web site. Testing will be available in the Participant Service Environment (PSE). Participants wishing to test in the PSE can call Robert Famigletti in the Participant Test Group (PTG) on (212) 855-5617.
See Appendix A for information on testing in the PSE. Please note: if firms are currently set up for testing, they will be required to make slight JCL modifications and therefore must contact the PTG (212-855-5617).
Mutual fund systems (i.e. Fund/SERV and Networking) use the current date in the PSE. All other NSCC product lines (i.e. ACATS) use the previous day's date in the PSE. Please note: that this will effect the ACATS-Fund/SERV interface testing of W8 in the PSE. The Processing Date in Record Type 018 (Re-registration from ACATS to Fund/SERV) will have the prior day's date, while the Submission Date in Record Type 019 (Re-registration Acknowledgments/Rejects going from Fund/SERV to ACATS) will have the current date.
Any questions or concerns regarding this Important Notice can be directed to the Mutual Fund Hotline (212-412-8893) or the undersigned at 212-701-9914.
Rita Gribben
Product Manager
Mutual Funds Marketing
The PSETT
Appendix A
Participant Service Environment
PSE - Fund/SERV Schedule
| Input Time From To |
Extract Time |
AutoRoute 6 digit 8 digit |
Cycle | Recipient Communication. Level |
Data Included | |
| 7:00 am | 8:00 am | 8:15 am | 02980361 02982361 |
1 | Multi-batch | All input, Registr. Pend Settlement |
| 8:00 AM | 9:15 AM | 9:30 AM | 02980361 02982361 |
2 | Multi-batch | All input |
| 9:15 AM | 11:00 AM | 11:15 AM | 02980361 02982361 |
14 | Multi-batch | All input |
| 11:20 AM | 02980364 02982364 |
None | All | Same day settle | ||
| 11:00 AM | 12:30 PM | 12:45 PM | 02980361 02982361 |
15 | Multi-batch | All input |
| 12:30 PM | 2:00 PM | 2:15 PM | 02980361 02982361 |
17 | Multi-batch | All input, Registr. Pend Settlement |
| 2:00 PM | 3:00 PM | 3:15 PM | 02980361 02982361 |
98 | Multi-batch | All input |
| Single batch | All input | |||||
| 3:20 PM | 02980362 02982362 |
None | Multi-batch | Reminders | ||
| Single batch | Reminders | |||||
| 3:25 PM | 02980365 02982365 |
None | All | Next day settle | ||
| 3:00 PM | 4:00 PM | 4:15 PM | 02980363 02982363 |
1 | Multi-batch | All input |
| 4:00 PM | 4:45 PM | 5:00 PM | 02980363 02982363 |
98 | Multi-batch | All input |
| Single batch | All input | |||||
Note: Column ‘Input From To‘ refers to multi-batch recipients only. Single batch recipients get all the data (of the specified type) they did not receive up to the specified output time.
PSE -Networking
| FILE DESCRIPTIONS | Input Times | Output Times |
| Activity | 7 AM - 9 AM | 10 AM |
| Positions | 7 AM - 9 AM | 10 AM |
| Dividends | 7 AM - 9 AM | 11 AM |
| Dividend Reversals | 7 AM - 9 AM | 10 AM |
| Conversions: Firm | 7 AM - 2 PM | 4 PM |
| Conversions: Fund | 7 AM - 9 AM | 11 AM |
| Account Maintenance | 7 AM - 9 AM | 10 AM |
Testing in the PSE
Effective with this testing, all Mutual Fund applications will conform to the Participant Service Environment standards in that all submissions must be directed to the QA DataTrak Region (DTQW). Please contact the Participant Test Group to facilitate this change
Participants should call the PTG at (212) 855-5617 to request a Participant Testing Profile Form. (See the mfs.nscc.com web site for a sample form).
PTG will send the form to the participant.
Participants must fill out the form including any special instructions when applicable.
The completed form must be faxed back to the PTG at (212) 855-5723.
PTG will notify the firm with the information needed to test in PSE.
The firm should contact PTG at (212) 855-5617 with any questions that arise during the testing period.
The PTG requires five business days to set up a participant in the PSE.
Adding Security Ids (CUSIPs) to the PSE
A fund should call the Mutual Fund Hotline (212) 412-8893 to request a Fund/SERV CUSIP Profile Update Form. (See Membership heading in the mfs.nscc.com web site for a sample form).
NSCC will send the form to the participant.
The participant must fax the completed form to the Enterprise Services Group (212) 383-3731.
NSCC will notify the fund of the date that testing can begin.
The firm should contact the Mutual Fund Hotline (212) 412-8893 with any questions that arise during the testing period.
NSCC requires 5 business days to add Security Ids (CUSIPs) to the PSE.