A 5196 - December
26, 2000
P&S 4766
TO: ALL PARTICIPANTS
ATTENTION: MANAGER MUTUAL FUNDS OPERATIONS, MANAGER DATA PROCESSING, MANAGER CASHIERS, MANAGER P&S DEPARTMENT
SUBJECT: CHANGES TO THE DIVIDEND SETTLEMENT TRAILER RECORD IN THE NETWORKING SYSTEM
On March 12, 2001 National Securities Clearing Corporation (NSCC) will change the Dividend Settlement Trailer record (Record Type N81) in the Networking System to reflect both Same Day and Next Day Settlement totals.
The change will become effective on Monday, March 12, 2001. The amended record layout changes are available on our mutual fund web site (formats.nscc.com) for your reference (also see attachment below).
Participants are encouraged to test with a partner in PSE (Participant Services Environment). It is particularly important for participants to test their internal reconciliation process, if they are currently using this record. System generated reports including settlement should be thoroughly checked as well. The PSE will be available for testing beginning on February 26, 2001. Participants wishing to test in the PSE can call the Mutual Fund Hotline at (212) 855-8877 for additional details.
Please note that the record modifications are being made to the 8-digit (Y2K compliant) layouts only. However, the 'Same/Next Day Funds' fields on the 6-digit layout will carry the new values as the corresponding 'Same/Next Day Settlement' fields on the 8-digit layouts.
Any questions or concerns regarding this Important Notice can be directed to the Mutual Fund Hotline (212-855-8877) or the undersigned at 212-855-5674.
Randy Solomon
Director, Mutual Funds Marketing
Changes to Dividend Settlement Trailer Record Type 81
Settlement date
Note: On a non-settling day (as Saturday), this date will be the same as Next Day Settlement Date (see item 3 below)
Field Currency Indicator (starts 124, ends 126, length 3) is being eliminated.
A new field Next Day Settlement date is added (starts 124, ends 131, length 8). It will contain next day settlement date.
All Same-Day Funds fields are being renamed Same Day Settlement.
All Next-Day Funds fields are being renamed Next Day Settlement.
Item counts and amounts of detail records with same day settlement date will be accumulated into Same Day Settlement buckets in the trailer, and item counts and amounts of detail records with next day settlement date will be accumulated into Next Day Settlement buckets in the trailer.
On a non-settling day (as Saturday), item counts and amounts of detail records will be accumulated into Next Day Settlement buckets in the trailer.Note:
The following is the modified layout:
DIVIDEND SETTLEMENT SUMMARY - OUTPUT TRAILER RECORD
(N81)
OUTPUT FROM NSCC TO FUNDS AND FIRMS
|
Field Name |
Start |
End |
Len |
Type |
Description |
|
System Code |
1 |
1 |
1 |
A/N |
N = NSCC |
|
Record Type |
2 |
3 |
2 |
A/N |
81 = Trailer Totals |
|
Sequence Number |
4 |
4 |
1 |
A/N |
1 |
|
MRO Recipient Number |
5 |
8 |
4 |
N |
|
|
Literal |
9 |
19 |
11 |
A/N |
Value '99999999999' |
|
Literal |
20 |
27 |
8 |
A/N |
Value 'SETT.TRL' |
|
Same Day Settlement Date |
28 |
35 |
8 |
N |
mmddccyy |
|
Debit Items Same Day Settlement |
36 |
41 |
6 |
N |
999,999 |
|
Debit Amount Same Day Settlement |
42 |
57 |
16 |
N |
99,999,999,999,999.99 |
|
Credit Items Same Day Settlement |
58 |
63 |
6 |
N |
999,999 |
|
Credit Amount Same Day Settlement |
64 |
79 |
16 |
N |
99,999,999,999,999.99 |
|
Debit Items Next Day Settlement |
80 |
85 |
6 |
N |
999,999 |
|
Debit Amount Next Day Settlement |
86 |
101 |
16 |
N |
99,999,999,999,999.99 |
|
Credit Items Next Day Settlement |
102 |
107 |
6 |
N |
999,999 |
|
Credit Amount Next Day Settlement |
108 |
123 |
16 |
N |
99,999,999,999,999.99 |
|
Next Day Settlement Date |
124 |
131 |
8 |
N |
mmddccyy |
|
Filler |
132 |
132 |
1 |
A/N |
Space |