On February 21, 2001, NSCC issued Important Notice A: 5228 / P&S: 4798 announcing its intention to enhance its envelope settlement services by eliminating the hand written credit lists. The credit lists will be available on an automated basis via The Depository Trust Company’s ("DTC") Participant Terminal System ("PTS"). Four subsequent notices have been distributed regarding this subject.

The PTS function for the envelope settlement services, ECSP, went live on Monday, October 22. ECSP encompasses all four settlement modes, ESS, IESS, FOSS and DSS. With this implementation, NSCC will discontinue processing manual credit lists on Monday, November 5, 2001. Envelopes submitted for delivery on or after that date that do not have a PTS-generated credit list will be returned for correction.

Contact your relationship manager if you have not yet obtained access to the ECSP function.

Information regarding these enhancements can be found in the NSCC Important Notices listed above, which may be retrieved by visiting our website at www.nscc.com.

Any additional questions can be directed to Walter Gates, Manager of Envelope Control, at (212) 855-2422, Tom Joyce, Director of the New York Window, at (212) 855-2420, or Wallace Bowling, Director of Enterprise Services, at (212) 855-1605.

Joseph Clemente
Manager, Product Management