Depository Trust & Clearing Corporation
 

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Products & Services

Wealth Management Services

Wealth Management Services

Fund/SPEED

a service offering of National Securities Clearing Corporation (NSCC)

Fund/SPEED is an Extensible Markup Language (XML) service that supports the real-time exchange of account and order information between mutual fund companies and their trading partners using their own proprietary interface or a service provider.

Overview

Fund/SPEED is an Extensible Markup Language (XML) service that supports the real-time exchange of account and order information between mutual fund companies and their trading partners using their own proprietary interface or a service provider.

Using Fund/SPEED's Account Inquiry feature, mutual funds can provide broker/dealers and financial advisers and planners with real-time account information for their clients' financial planning and investment decisions. Operational expenses are reduced with real-time, automated information delivery from transfer agency systems, eliminating costly phone calls and faxes.

The service's Account Maintenance feature allows firms to update an account's registration and profile with funds.

Through Fund/SPEED's Express Order Processing feature, financial advisers and planners can send new account, purchase, redemption and exchange orders interactively to participating funds through a transparent connection to NSCC's Fund/SERV® system. (See Fund/SERV fact sheet for more information.)

Who Can Use the Service

Any interested financial organization that meets NSCC qualifications can use the service There are several different types of membership categories, including a Data Services Only membership.

Benefits

  • Delivers information in real-time and interactively, enhancing compliance and back-office operations.
  • Gives financial advisers and planners the ability to dynamically request and retrieve information on any of their clients' accounts.
  • Facilitates financial planning and investment decisions.
  • Offers single sign-on access to multiple funds products and accounts.
  • Employs encrypted security through NSCC's real-time switch to support the most reliable and secure method of exchanging information within various environments.
  • Automates trade messages, reducing manual processing at the fund.
  • Links to Fund/SERV, the industry standard, thereby increasing the efficiency of order delivery to a fund

How the Service Works

Account Inquiry

  • Financial History : Firms can request and receive transaction and other financial activity information within an account, including purchases, redemptions, distributions, and adjustments. Summary level or detailed information is available.
  • Account Positions: Funds can provide information on the  number of shares, market value and registration information per mutual fund account owned by a shareholder. Registration information includes client name, social security number, address, and account options.
  • CDSC Hypotheticals: Firms can receive potential contingent-deferred sales charges for hypothetical liquidations placed for a specific dollar amount, share amount, or total CUSIP position.
  • Rights of Accumulation/Letter of Intent (ROA/LOI): This feature provides relevant information that qualifies a shareholder for a discount based on the total holdings within a fund company, in addition to the discount level, the related accounts that are aggregated for purposes of the ROA/LOI, LOI escrow shares, effective date, and more.
  • Money Transfer Options: Firms can provide data on transactions, such as systematic withdrawals, on-demand purchases or redemptions, and distributions, each carrying settlement instructions registered with the fund. Money Transfer Options also allows firms to inquire against this information.

Account Maintenance

  • Account Registrations: Firms can update or delete information on existing accounts
  • Account Profiles: A broad range of information can be updated, including payment instructions and options; direct funding instructions; payroll deduction requests; distribution options and branch and rep information.
  • Fund Maintenance: Fund companies can add or update information on individual funds, branches and reps.

Express Order Processing

  • An indicator on Fund/SPEED orders allows firms to access NSCC automated order processing through Fund/SERV while settling directly with investment companies. Express Order Processing supports ACH routing and money wires for purchases and redemptions, and checks for redemptions.

For More Information

Please contact Wealth Management Services Marketing at (212) 855-8877.


This description is for informational purposes only. This Service is governed by applicable Rules, Procedures, and Service Guides for each DTCC subsidiary, which contain the full terms, conditions, and limitations applicable to this Service.

Technical Documentation

Customer Information

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Who to Call

Customer Service
1.888.382.2721

Membership
1.212.855.8877

Press Contacts
1.212.855.5472

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