Questions for Rita Gribben
Rita Gribben
Why was a relational hierarchy model chosen to redesign Profile? It will also be easier for funds to verify the accuracy of information by tying the data to a specific prospectus rule and validating the information with their legal and compliance departments, if they wish. Will users be able to see new security information before it becomes effective? What will happen to the data that’s currently in the database? Where can I find the new mainframe record layouts? Will all the data fields now be required fields? How do I, as a fund, receive a full data file of Security Profile from the old database so that I can review my data? How are you going to handle Blue Sky Data upon conversion to the new database, and what if there is no blue sky data available? When are you going to provide the industry with user guides? What is a “comma separated value” (CSV) file? Customers with additional queries should contact their Mutual Fund Services Relationship Manager directly; call Mutual Fund Marketing at (212) 855-8877; or refer to the Mutual Fund Profile Connectivity User Guide on funds.dtcc.com. Learn More Through Webcasts If you missed either of our Webcasts on Redesigning Profile, go to the Training section of funds.dtcc.com. Under 2007 Webcasts, you can view a comprehensive presentation, which includes a preview of what the new screens will look like. Or, if you just want to view a high-level presentation, click on the second bullet under 2006 Webcasts.
In a hierarchal data model, data is organized in such a way that repeating information can flow downward. This allows funds to input their operational rules once at their specific hierarchy level, such as breakpoint schedules, and have that data or rule applied to many security issues without redundant input. The changes will also make updating and maintaining the database easier for funds.
The redesign will include the capability of posting future-dated information, and broker/dealers and other distribution firms will be able to view that information once it’s programmed.
It will be converted to the new hierarchical database. However, for the data to properly convert to the new hierarchical levels and map to the data fields, funds will need to provide their unique hierarchy-level information first.
The new batch file record layouts, for fixed length and variable length, are on the Web site - http://funds.dtcc.com/ members/filesrecddocs/index8959.html. They were posted in February to give participants sufficient time to program and test the required system changes.
They’ll be either “required” or “optional conditional” for input. Optional conditional means, for example, that if breakpoints apply to a particular security, then all the breakpoint-related fields must be filled in. If breakpoints don’t apply, then it’s not necessary to populate the fields.
If you use DTCC’s WebDirect interface and have a certificate, you would first go to the product screen called Security Profile, then the menu bar called Data Files, and submit a “User File Request”. This file will be in MRO (machine readable output) only. If you are a mainframe user, you would need to program for record type 080, called User File Request, and submit this record type to NSCC via a file transmission. NSCC would then return the output file in an MRO file if you are set up to receive the correct Autoroute files.
If funds previously had Blue Sky states populated in the old database, we will populate the new database with those states. If funds did not have any states populated in the Blue Sky record, then there is no data for us to convert. However, when the new input screens become available to funds beginning on June 4, 2007, they can add or update their blue sky information.
The steering committee is targeting the end of May for Mainframe and DTCC WebDirect User Guides. A third guide will address Best Practices for all users to ensure that everyone has a common understanding of how to submit information and definitions of terms, which will help avoid validity problems.
A CSV file is a common file format for exchanging data within databases or mainframes. This file type separates the data into worksheet cells with delimiters. Funds should save the normal Microsoft Excel worksheet as a CSV file, which separates each cell’s contents with a comma.