Sep 01, 2010
• DTCC Connection
Underwriters: Register for Webinars on UW Source For Corporate Debt
In October, DTCC will add corporate debt to its new underwriting platform, called UW Source. To prepare firms for the transition, DTCC is sponsoring a series of free webinars in September and October that will introduce the new functionality and support underwriters that want to begin using it during the optional period. UW Source for corporate debt becomes mandatory on January 1, 2011.
Underwriters that choose to use UW Source during the optional period and submit additional information, such as put and call feature information, principal amortization and interest-calculation information, may be eligible to receive a user discount that will continue into 2011.
Beginning January 1, 2011, a penalty of $2,000 per CUSIP will be levied on firms that do not utilize UW Source.
DTCC has implemented UW Source in phases over several years, starting with municipal underwritings in September 2008, followed by corporate equities in October 2009. The rollout of the corporate debt phase completes the circle for this underwriting initiative.
To register for a webinar in September or October, visit www.dtcclearning.com and click Events Calendar. @