by Michael Scholl
DTC’s Participant Browser Services (PBS), the web-based system that gives customers access to all depository processing functions, continues to expand with new services and features designed to make life easier and more efficient for customers.
PBS replaces DTC’s legacy Participant Terminal System (PTS), the antiquated "green screen" interface that customers began using more than 30 years ago. DTC is urging customers that have not yet switched to PBS to do so as soon as possible in order to reap its benefits, including enhanced capabilities and greater day-to-day operational efficiency. By fully adopting PBS, customers will also eliminate the need to maintain two systems.
"We’ve been encouraging customers to move away from the green screens, but now we’ve reached the tipping point for PBS," said Adam Bryan, DTCC managing director who heads up the PBS initiative. "It is a robust, user-friendly interface that gives customers access to all DTC services and functions via existing SMART network connections. What’s more, we are no longer adding new services and enhancements to the green screens, which means customers that have not converted to PBS are missing out on the full range of benefits available to them."
In short, PBS offers more functionality with less hassle at no additional cost.
PBS features include a capability that allows information to be downloaded from PBS directly onto Excel spreadsheets. "Customers like the downloading feature because it eliminates the need to go through the laborious process of ‘screen scraping’ PTS screens to gather desired data," said Paula Arthus, DTCC managing director, Relationship Management.
The latest addition to the downloadable list is information on the allocation of reorganization, redemption and dividend proceeds, expected to be available by the end of May 2010. While such information is viewable on the legacy system, it is not and will not be downloadable on it.
PBS also offers a similar downloading capability for settlement statements and their underlying transactions.
Another feature allows deliver orders to be uploaded through PBS, which eliminates the need to key in deliver orders one at a time, as is required by PTS, thereby reducing labor costs and the risk of error.
Changes in deposit ticket printing
A change taking effect this October is that deposit ticket printing will be available on PBS only, and no longer on PTS. This feature allows customers to download deposit tickets in PDF format to be printed on virtually any computer printer.
With PTS, deposit tickets must be affixed with peel-off bar-code labels or must be printed on special bar-code printers dedicated to ticket printing, so the change allows firms to eliminate the cost involved in buying labels or having dedicated bar-code printers. It also offers the flexibility to print deposit tickets from almost any location.
To ensure customers continue to print their deposit tickets, DTC will charge a $100 disincentive fee for each deposit submitted without a ticket starting in October.
Learning to use it
DTC offers online PBS training through the DTCC Learning website at www.dtcc.com/products/training. To learn more about other training options, please contact the Training Administrator at email@example.com or 888.258.6393. @