Improving Efficiency

How They Connect: Mutual Fund Profile Service II & MF Info Xchange

By DTCC Connection Staff | Sep 18, 2020

How They Connect: Mutual Fund Profile Service II and MF Info Xchange

DTCC’s Mutual Fund Services has launched several innovative solutions that offer clients standardization, security and simplicity. For clients who already have -- or are considering implementing -- multiple mutual funds services, taking advantage of these streamlined system integrations is advantageous.

Two services that have been designed to work together seamlessly are Mutual Fund Profile Service II (Profile Security) and one of the newest services from the Mutual Funds suite, MF Info Xchange.

Mutual Fund Profile Service II (MFPS II) – Profile Security is a database of Mutual Fund prospectus, supplements and operational processing rules for mutual fund securities. This product provides a streamlined process that allows asset managers to provide accurate and timely information regarding their mutual funds to broker/dealers and other distribution firms. Because of the wide array of data available, Profile Security is beneficial to both larger and smaller clients. Powered by an intuitive AI engine, Profile Security automates the extraction of fund data, and minimizes the risks associated with manual entries. MF Info Xchange facilitates and centralizes the delivery and receipt of time-critical mutual fund, bank collective fund and other pooled investment product notifications to reduce risk throughout the communication process.

“One key enhancement rolled out last year to MF Info Xchange, which we are particularly excited about, is the seamless integration with Mutual Fund Profile Security Database,” said Yana Granovskiy, DTCC Director, Wealth Management Services. “This further minimizes the risks associated with manual data entry and ensures consistency between these services by utilizing a single data source.”

When generating a notification within MF Info Xchange, clients that also utilize Profile Security have the ability to import key fund information. Automating extraction of fund data directly into MF Info Xchange minimizes data entry.

“With machine learning technology, data mining and artificial intelligence, all clients can significantly reduce the time it takes to process information from prospectuses and other documents,” said Josephine Torelli, DTCC Executive Director, Mutual Fund Services. “We are excited that the steps we’ve taken towards integrating Profile Security and MF Info Xchange have also introduced additional efficiencies, allowing funds to automate and streamline so many critical aspects of their information exchange.”

If you’re interested in learning about how MF Info Xchange leverages the Profile Security data, contact your relationship manager.

MFPS II is a service offering of National Securities Clearing Corporation (NSCC), a wholly-owned DTCC subsidiary. The Service is governed by applicable Rules, Procedures, and Service Guides of NSCC, which contain the full terms, conditions, and limitations applicable to this Service. The Service description herein is for informational purposes only, and NSCC reserves the right to make modifications.

MF Info Xchange is an offering of the National Securities Clearing Corporation (NSCC), a wholly-owned DTCC subsidiary and DTCC itself does not provide such services. The description provided herein is for informational purposes only. This service is governed by applicable Rules and Procedures of NSCC, which contain the full terms, conditions, and limitations applicable to this service. ©1999-2018 The Depository Trust & Clearing Corporation. All rights reserved.

 

 

dtccdotcom