|
A# |
5688 |
|
P&S #: |
5258 |
|
DATE: |
October 2, 2003 |
|
TO: |
ALL PARTICIPANTS |
|
ATTENTION: |
Managing Partner/Officer; P&S Manager; Cashier; Manager, Data Processing; Manager, Insurance Processing; Manager, Mutual Fund Processing; Manager, Dividend Department |
|
FROM: |
Enterprise Service Center |
| SUBJECT: | Columbus Day Holiday Schedule |
New York Banks will be closed on Monday, October 13, 2003 in observance of Columbus Day. The New York and American Stock Exchanges and the NASDAQ System will be open for trading on Monday, October 13, 2003.
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 T+1 T+2 & OLDER T+3 & OLDER
COMPARISON ADJUSTMENTS ADJUSTMENTS ADJUSTMENTS
REGULAR WAY
INPUT
Oct.7 |
Oct. 7 |
Oct. 8 |
Oct. 9 |
N/A |
| Oct. 8 |
Oct. 8 |
Oct. 9 |
Oct. 10 |
Oct. 13 |
| Oct. 9 |
Oct. 9 |
Oct. 10 |
Oct. 13 |
Oct. 14 |
| Oct. 10 |
Oct. 10 |
Oct. 13 |
Oct. 14 |
Oct. 15 |
| Oct. 13 |
Oct. 13 |
Oct. 14 |
Oct. 15 |
N/A |
| Oct. 14 |
Oct. 14 |
Oct. 15 |
Oct. 16 |
N/A |
BALANCE ORDERS:
A double-day settlement will result on Thursday, October 16, 2003. Non-CNS trades of Monday, October 13, 2003 will be displayed on the Consolidated Trade Summary and netted for settlement on Thursday, October 16, 2003.
Balance Orders will not be available for distribution on the morning of the Holiday.
NOTE: Municipal Bond Deliver instructions for settlement date Tuesday, October 14, 2003, which would normally settle in PDQ, should be delivered via DTC’s PTS Terminal.
CNS:
No settlement will occur on Monday, October 13, 2003. The following changes will be made to CNS output schedules:
Consolidated Trade Summary (Including machine-readable output):
T & T+1 TRADES T+2 & OLDER TRADES AVAILABLE ON
SETTLING ON SETTLING ON
| Oct. 10 |
Oct. 9 |
Oct. 9 Normal |
| Oct. 13 |
(No Settlement) |
------- |
| Oct. 14 |
Oct. 10 |
Oct. 10 |
| ------- |
------ |
Oct. 13 None** |
| Oct. 15 |
Oct. 14 |
Oct. 14 *** |
| Oct. 16 |
Oct. 15 |
Oct. 15 Normal |
**A Consolidated Trade Summary will not be available on the morning of the Holiday.
*** Indicates one-day items for trades compared on October 10th and October 13th, settling on October 14th, 2003.
Projection Report (Including machine-readable output):
Projection for Settlement Date Available On
Oct. 10 Oct. 9 Normal
Oct. 13 (No Settlement) ***
Oct. 14 Oct. 10 One Day Early
Oct. 15 Oct. 14 Normal
Oct. 16 Oct. 15 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. 10 |
Oct. 9 Normal |
| Oct. 13 |
(No Settlement) |
| Oct. 14 |
Oct. 10 One Day Early |
| ----- |
Oct. 13 None |
| Oct. 15 |
Oct. 14 Normal |
Accounting Summary (Including machine-readable output):
Settlement Date Available On
| Oct. 10 |
Oct. 10 Normal |
| Oct. 13 |
(No Settlement) |
| Oct. 14 |
Oct. 14 Normal |
DIVIDENDS:
Record Dates – Securities with a published record date of Monday, October 13, 2003 will be changed to Friday, October 10, 2003. Since no CNS activity will occur on Monday, October 13th, closing positions for these two dates will be identical.
Due Bill Redemption Dates – Securities carrying a due bill redemption date of October 13, 2003 will be changed to October 10, 2003. Again, closing positions for the two dates will be the same.
Payable Dates – Dividends payable on October 13, 2003 will be paid on October 14, 2003.
CENTRAL DELIVERY AND SETTLEMENT:
NSCC will not provide Delivery or Settlement Services on Monday, October 13, 2003.
*Please note that Monday, October 13, 2003 is a legal holiday in Canada. Inter-city deliveries for settlement Tuesday, October 14, 2003 WILL BE accepted on Friday, October 10, 2003.
The NSCC Canadian facility in Toronto (The Canadian Depository for Securities Ltd.) will be closed on Monday, October 13, 2002. Normal schedules will resume on October 14, 2003.
INTER-CITY DELIVERIES:
On Friday, October 10, 2003, deliveries will be accepted for settlement of Tuesday,
October 14, 2003.
STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Friday, October 10, 2003, for settlement Tuesday, October 14, 2003. Settlement date on the input should be October 14, 2003.
AUTOMATED CUSTOMER ACCOUNT TRANSFER SERVICE (ACATS)
Settlement:
ACATS activity processed on Thursday, October 9, 2003, which would normally settle Monday, October 13, 2003, will settle on Tuesday, October 14, 2003.
ACATS activity processed on Friday, October 10, 2003, which would normally settle Tuesday, October 14, 2003, will be combined with ACAT activity of Monday, October 13, 2003 for settlement Wednesday, October 15, 2003.
On Friday, October 10, 2003, (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 9, 2003 the accounts will remain in “Review” status and have a Review 2 (Day 2) status on Friday, October 10, 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 10, 2003) 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 13, 2003.
ACAT - FUND/SERV INTERFACE:
ACAT - Fund/SERV Interface activity processed on Monday, October 13, 2003 will settle on Tuesday, October 14, 2003.
MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement will occur on Monday, October 13, 2003. Activity submitted on Friday, October 10, 2003 will settle on Tuesday,
October 14, 2003.
FUND/SERV:
No settlement of Fund/SERV activity will occur on Monday, October 13, 2003.
The following changes will be made to Fund/SERV output schedules:
T+1 SETTLEMENT FILE SETTLEMENT
TRADE DATE (364 File) AVAILABLE ON DATE
Oct. 10 Oct. 14 Oct. 14**
Oct. 13* Oct. 14 Oct. 14**
Oct. 14 Oct. 15 Oct. 15
T+3 SETTLEMENT FILE SETTLEMENT
TRADE DATE (365 File) AVAILABLE ON DATE
Oct. 8 Oct. 13 Oct. 14
Oct. 9 Oct. 14 Oct. 15
Oct. 10*** Oct. 15 Oct. 16**
Oct. 13 Oct. 15 Oct. 16**
Oct. 14 Oct. 16 Oct. 17
*No 364 Settlement file on Monday, October 13, 2003
**Double Settlement Day
***No 365 Settlement file on Friday, October 10, 2003
NETWORKING:
Networking activity will be accepted on Monday, October 13, 2003, however, no Networking Dividend Cash Settlement will occur on October 13, 2003.
INSURANCE PROCESSING:
No IPS Commission, Application/Subsequent Premiums and Licensing and Appointment Settlement will occur on Monday, October 13, 2003. Activity submitted after the cutoff (11:00am for Commissions, 2:00pm Application /Subsequent Premiums and 1:00pm for Licensing and Appointments) on Friday, October 10, 2003, will settle on Tuesday, October 14, 2003. Activity for Positions (PPF, PVF), Annuity Asset Pricing (AAP) and Financial Activity Reporting (FAR) will be accepted and processed on October 13, 2003.
Any questions regarding this notice should be directed to your Participant Services at
(212) 855-4155.
Florence Santiago
Manager
Enterprise Service Center