A 5491
P&S 5061
October 8, 2002
TO: ALL PARTICIPANTS
ATTENTION: Managing Partner/Officer; P&S Manager; Cashier; Manager, Data Processing; Manager, Insurance Processing; Manager, Mutual Fund Processing; Manager, Dividend Department
SUBJECT: Columbus Day Holiday Schedule
New York Banks will be closed on Monday, October 14, 2002 in observance of Columbus Day. The New York and American Stock Exchanges and the NASDAQ System will be open for trading on Monday, October 14, 2002.
The following changes in NSCC’s Operations and schedules will be in effect:
EQUITY COMPARISON (LISTED & 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 |
|
Oct. 8 |
Oct. 8 |
Oct. 9 |
Oct. 10 |
N/A |
|
Oct. 9 |
Oct. 9 |
Oct. 10 |
Oct. 11 |
Oct. 14 |
|
Oct. 10 |
Oct. 10 |
Oct. 11 |
Oct. 14 |
Oct. 15 |
|
Oct. 11 |
Oct. 11 |
Oct. 14 |
Oct. 15 |
Oct. 16 |
|
Oct. 14 |
Oct. 14 |
Oct. 15 |
Oct. 16 |
N/A |
|
Oct. 15 |
Oct. 15 |
Oct. 16 |
Oct. 17 |
N/A |
BALANCE ORDERS:
A double-day settlement will result on Thursday, October 17, 2002.
Non-CNS trades of Monday, October 14, 2002 will be displayed on the Consolidated
Trade Summary and netted for settlement on Thursday, October 17, 2002.
Balance Orders will not be available for distribution on the morning of the Holiday.
NOTE: Municipal Bond Deliver instructions for settlement date Tuesday, October 15, 2002, which would normally settle in PDQ, should be delivered via DTC’s PTS Terminal.
CNS:
No settlement will occur on Monday, October 14, 2002. The following
changes will be made to CNS output schedules:
Consolidated Trade Summary (Including machine-readable output):
| T & T+1 TRADES SETTLING ON | T+2 & OLDER TRADES SETTLING ON | AVAILABLE ON |
|
Oct. 11 |
Oct. 10 |
Oct. 10 Normal |
|
Oct. 14 |
(No Settlement) |
------- |
|
Oct. 15 |
Oct. 11 |
Oct. 11 |
|
------- |
------ |
Oct. 14 None** |
|
Oct. 16 |
Oct. 15 |
Oct. 15 *** |
|
Oct. 17 |
Oct. 16 |
Oct. 16 Normal |
**A Consolidated Trade Summary will not be available on the morning of the Holiday.
*** Indicates one-day items for trades compared on October 11th and October 14th, settling on October 15th, 2001.
Projection Report (Including machine-readable output):
| Projection for Settlement Date | Available On |
| Oct. 11 | Oct. 10 Normal |
| Oct. 14 | (No Settlement) *** |
| Oct. 15 | Oct. 11 One Day Early |
| Oct. 16 | Oct. 15 Normal |
| Oct. 17 | Oct. 16 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. 11 |
Oct. 10 Normal |
|
Oct. 14 |
(No Settlement) |
|
Oct. 15 |
Oct. 11 One Day Early |
|
----- |
Oct. 14 None |
|
Oct. 16 |
Oct. 15 Normal |
Accounting Summary (Including machine-readable output):
| Settlement Date | Available On |
|
Oct. 11 |
Oct. 11 Normal |
|
Oct. 14 |
(No Settlement) |
|
Oct. 15 |
Oct. 15 Normal |
DIVIDENDS:
Record Dates – Securities with a published record date of Monday, October 14, 2002 will be changed to Friday, October 11, 2002. Since no CNS activity will occur on Monday, October 14th, closing positions for these two dates will be identical.
Due Bill Redemption Dates – Securities carrying a due bill redemption date of October 14, 2002 will be changed to October 11, 2002. Again, closing positions for the two dates will be the same.
Payable Dates – Dividends payable on October 14, 2002 will be paid on October 15, 2002.
CENTRAL DELIVERY AND SETTLEMENT:
NSCC will not provide Delivery or Settlement Services on Monday, October 14,
2002.
*Please note that Monday, October 14, 2002 is a legal holiday in Canada. Inter-city deliveries for settlement Tuesday, October 15, 2002 will be accepted on Friday, October 11, 2002.
The NSCC Canadian facility in Toronto (The Canadian Depository for Securities Ltd.) will be closed on Monday, October 14, 2002. Normal schedules will resume on October 15, 2002.
INTER-CITY DELIVERIES:
On Friday, October 11, 2002, deliveries will be accepted for settlement
of Tuesday, October 15, 2002.
STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Friday,
October 11, 2002, for settlement Tuesday, October 15, 2002. Settlement date on
the input should be October 15, 2002.
AUTOMATED CUSTOMER ACCOUNT TRANSFER SERVICE (ACATS)
Settlement:
ACATS activity processed on Thursday, October 10, 2002, which would normally
settle Monday, October 14, 2002, will settle on Tuesday, October 15, 2002.
ACATS activity processed on Friday, October 11, 2002, which would normally settle Tuesday, October 15, 2002, will be combined with ACAT activity of Monday, October 14, 2002 for settlement Wednesday, October 16, 2002.
On Friday, October 11, 2002, (the day prior to the holiday), there will be no Settle-Prep status on the end-of-day ACATS output. For assets submitted on Thursday, October 10, 2002, the accounts will remain in "Review" status and have a Review 2 (Day 2) status on Friday, October 11, end-of-day ACATS output.
Accelerations:
The ACAT system will REJECT any acceleration transaction on the day PRIOR TO
THE HOLIDAY. Participants will receive a reject reason of "missed
cycle." Acceleration will be accepted on the holiday only for transfers
validated (assets submitted) on the holiday.
Transfers with a Bank Contra Party:
On a Bank holiday, the ACAT system will reject all transactions where one
side is a BANK participant.
Banks and trust companies receiving or delivering assets on the day before a bank holiday (Friday, October 11, 2002) must review the assets on the same day (Friday) to ascertain that the assets are valid and that the bank or trust company wishes to send/receive these assets. The banks or trust companies will not have an opportunity to review the assets on the bank holiday, since the bank and trust companies will be closed and ACATS will change the status to "Settle-Prep" on Monday, October 14, 2002.
ACAT - FUND/SERV INTERFACE:
ACAT - Fund/SERV Interface activity processed on Monday, October 14,
2002 will settle on Tuesday, October 15, 2002.
MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement will occur on Monday, October 14,
2002. Activity submitted on Friday, October 11, 2002 will settle on Tuesday,
October 15, 2002.
FUND/SERV:
No settlement of Fund/SERV activity will occur on Monday, October 14,
2002.
The following changes will be made to Fund/SERV output schedules:
| T+1 SETTLEMENT TRADE DATE (364 File) | FILE AVAILABLE ON | SETTLEMENT DATE |
| Oct. 11 | Oct. 15 | Oct. 15** |
| Oct. 14* | Oct. 15 | Oct. 15** |
| Oct. 15 | Oct. 16 | Oct. 16 |
| T+3 SETTLEMENT TRADE DATE (365 File) | FILE AVAILABLE ON | SETTLEMENT DATE |
| Oct. 9 | Oct. 14 | Oct. 15 |
| Oct. 10 | Oct. 15 | Oct. 16 |
| Oct. 11*** | Oct. 16 | Oct. 17** |
| Oct. 14 | Oct. 16 | Oct. 17** |
| Oct. 15 | Oct. 17 | Oct. 18 |
*No 364 Settlement file on Monday, October 14, 2002
**Double Settlement Day
***No 365 Settlement file on Friday, October 11, 2002
NETWORKING:
Networking activity will be accepted on Monday, October 14, 2002,
however, no Networking Dividend Cash Settlement will occur on October 14, 2002
INSURANCE PROCESSING:
No IPS Commission, Application/Subsequent Premiums and Licensing and
Appointment Settlement will occur on Monday, October 14, 2002. Activity
submitted after the cutoff (11:00am for Commissions, 2:00pm
Application/Subsequent
Premiums and 1:00pm for Licensing and Appointments) on Friday, October 11, 2002, will settle on Tuesday, October 15, 2002. Activity for Positions (PPF, PVF), Annuity Asset Pricing (AAP) and Financial Activity Reporting (FAR) will be accepted and processed on October 14, 2002.
Any questions regarding this notice should be directed to your Participant Services at (212) 855-4155.
Kevin Brennan,
Director, Operations