| A# |
5921 |
| P&S #: |
5491 |
| DATE: |
October 28, 2004 |
| 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: | VETERANS DAY HOLIDAY SCHEDULE |
New York Banks will be closed on Thursday, November 11, 2004 in observance of Veterans Day. The New York and American Stock Exchanges and the Nasdaq System will be open for trading on Thursday, November 11, 2004.
The following changes in NSCC’s Operations and schedules will be in effect:
OTC EQUITY COMPARISON AND REAL TIME TRADE MATCHING (RTTM) FOR CORPORATES, MUNICIPALS & UITS (CMU):
SUBMISSION OF TRADE DATA
| TRADE DATE | NIGHT OF COMPARISON REGULAR WAY INPUT | T+1 ADJUSTMENTS | T+2 & OLDER ADJUSTMENTS | T+3 & OLDER ADJUSTMENTS | SETTLEMENT DATE |
| Nov. 5 |
Nov. 5 |
Nov. 8 |
Nov. 9 |
Nov. 10 |
Nov. 10 |
| Nov. 8 |
Nov. 8 |
Nov. 9 |
Nov. 10 |
Nov. 12 |
Nov. 12 |
| Nov. 9 |
Nov. 9 |
Nov. 10 |
Nov. 11 |
Nov. 15 |
Nov. 15 |
| Nov. 10 |
Nov. 10 |
Nov. 11 |
Nov. 12 |
Nov. 16 |
Nov. 16* |
| Nov. 11 |
Nov. 11 |
Nov. 12 |
Nov. 15 |
Nov. 16 |
Nov. 16* |
| Nov. 12 |
Nov. 12 |
Nov. 15 |
Nov. 16 |
Nov. 17 |
Nov. 17 |
*Double Day Settlement
BALANCE ORDERS
A double-day settlement will result on November 16, 2004. Non-CNS trades of November 10, 2004 and November 11, 2004 will be displayed on the Consolidated Trade Summary and netted for settlement on November 16, 2004.
Balance Orders will not be available for distribution on the morning of the Holiday.
CNS
No settlement will occur on November 11, 2004. The following changes will be made to CNS output schedules:
Consolidated Trade Summary (Including machine-readable output):
| T,
AND T+1 TRADES |
T+2 AND OLDER TRADES SETTLING ON |
AVAILABLE ON |
| Nov. 10 |
Nov. 9 |
Nov. 9 Normal |
| Nov. 11(No Settlement) |
--- |
--- |
| Nov. 12 |
Nov. 10 |
Nov. 10 Normal |
| --- |
--- |
Nov. 11 None** |
| Nov. 15 |
Nov. 12 |
Nov. 12 Normal*** |
| Nov. 16 |
Nov. 15 |
Nov. 15 Normal |
** The Consolidated Trade Summary or the Supplemental will not be available on the morning of the Holiday.
*** Indicates one-day items for trades of November 10, 2004, and November 11, 2004, settling on November 12, 2004.
Supplemental Consolidated Trade Summary (Including machine-readable output):
Since there will be no Settlement on Thursday, November 11, 2004, the Supplemental Consolidated Trade Summary (Cycles 1 & 2) will not be available for Thursday, November 11, 2004. Cycle 1 will be sent out after Midnight on Friday, November 12 2004 and Cycle 2 will be sent out as scheduled on Friday, November 12, 2004.
Projection Report (Including machine-readable output):
Projection for Settlement Date |
Available On |
| Nov. 10 |
Nov. 9 Normal |
| Nov. 11 (No Settlement) |
--- |
| Nov. 12 |
Nov. 10 One Day Early |
| --- |
Nov. 11 None**** |
| Nov. 15 |
Nov. 12 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:
Nov. 10 Nov. 9 Normal
Nov. 11 (No Settlement) ---
Nov. 12 Nov. 10 One Day Early
--- Nov. 11 None
Nov. 15 Nov. 12 Normal
Accounting Summary (Including machine-readable output):
Settlement Date Available On
Nov. 10 Nov. 10 Normal
Nov. 11(No Settlement) --- None
Nov. 12 Nov. 12 Normal
DIVIDENDS
Record Dates – Securities with a published record date of November 11, 2004 will be changed to November 10, 2004. Since no CNS activity will occur on the 11th, closing positions for these two dates will be identical.
Due Bill Redemption Dates – Securities carrying a due bill redemption date November 11, 2004 will be changed to November 10, 2004. Again, closing positions for the two dates will be the same.
Payable Dates – Dividends payable on November 11, 2004 will be paid on November 12, 2004.
CNS FULLY PAID FOR: NSCC will only apply CNS Fully-Paid-For movements that are received on November 12, 2004 and WILL NOT PROCESS any CNS Fully-Paid-For data that is received on November 11, 2004.
CENTRAL DELIVERY, SETTLEMTENT AND TRANSFER:
NSCC will not provide Delivery, Settlement or Transfer Services on Thursday, November 11, 2004.
INTER-CITY DELIVERIES:
On Wednesday, November 10, 2004 deliveries will be accepted for settlement Friday, November 12, 2004.
No IESS activity will settle on November 11, 2004.
STOCK BORROW PROGRAM:
Stock Borrow availability information will be accepted on Wednesday, November 10, 2004
for settlement Friday, November 12, 2004. Settlement date on the input should be November 12, 2004.
AUTOMATED CUSTOMER ACCOUNT TRANSFER SERVICE (ACATS)
Settlement:
ACATS Settlement will be extended a day for all assets. ACATS assets that will normally settle on Thursday, November 11, 2004 will settle on Friday, November 12, 2004. The ACATS status will be Settle-Close on Wednesday End-of-Day (EOD), November 10, 2004 (no settlement on Holiday) and on Thursday EOD, November 11, 2004 will have an ACATS status of Settle-Close 2 (Settles day after holiday).
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 (Wednesday, November 10, 2004) must review the assets on the same day (Wednesday) 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 Friday, November 11, 2004.
COST BASIS REPORTING SERVICE (CBRS)
Firms transmitting CBRS files when the underlying assets have reached an ACATS status of Settle-Close are reminded that on bank holidays these assets will have an ACATS status of Settle-close on Wednesday EOD, November 10, 2004 and ACATS status of Settle-Close 2 on Thursday EOD, November 11, 2004. Firms should only send the underlying CBRS data once and can be either when the asset has reached the ACATS statuses of Settle-Close or Settle-close 2.
ACATS-FUND/SERV INTERFACE
ACATS-Fund/SERV Interface activity processed on Thursday, November 11, 2004 will settle on Friday, November 12, 2004.
MUTUAL FUND COMMISSION SETTLEMENT:
No Mutual Fund Commission Settlement will occur on Thursday, November 11, 2004. Activity submitted on Wednesday, November 10, 2004 will settle on Friday, November 12, 2004.
FUND/SERV:
No settlement of Fund/SERV activity will occur on Thursday, November 11, 2004. The following changes will be made to Fund/S ERV output schedules.
T+1 SETTLEMENT FILE SETTLEMENT
TRADE DATE (364 File) AVAILABLE ON DATE
Nov.10 Nov. 12 Nov. 12**
Nov.11* Nov. 12 Nov. 12 **
Nov. 12 Nov. 15 Nov. 15
T+3 SETTLEMENT FILE SETTLEMENT
TRADE DATE (365 File) AVAILABLE ON DATE
Nov. 8 Nov. 11 Nov. 12
Nov. 9 Nov. 12 Nov. 15
Nov.10*** Nov. 15 Nov. 16**
Nov.11 Nov. 15 Nov. 16**
Nov.12 Nov. 16 Nov. 17
*No 364 Settlement file available on Thursday, November 11, 2004
* * Double Day Settlement
***No 365 Settlement file available on Wednesday, November 10, 2004.
NETWORKING:
Networking activity will be accepted on Thursday, November 11, 2004, however, no Networking Dividend Cash Settlement will occur on Thursday, November 11, 2004.
INSURANCE PROCESSING:
No IPS Commission, Application/Subsequent Premiums and Licensing and Appointment Settlement will occur on Thursday, November 11, 2004. Activity submitted after the cutoff (11:00am for Commissions, 2:00pm for Application/Subsequent Premiums and 1:00pm for Licensing and Appointments) on Wednesday, November 10, 2004, will settle on Friday, November 12th, 2004. Activity for Positions (PPF, PVF), Annuity Asset Pricing (AAP) and Financial Activity Reporting (FAR) will be accepted and processed on Thursday, November 11, 2004.
Any questions regarding this notice should be directed to your Relationship Manager at
(212) 855-4155 or the undersigned at 212-855-5623.
Florence Santiago
Manager
Enterprise Service Center