DTCC Connection

Sep 22, 2014 • DTCC Connection

Retirement of PTS/PBS Functions for Corporate Actions Distribution Events Begins in October

by Joseph King

As The Depository Trust & Clearing Corporation’s (DTCC) Corporate Actions Transformation initiative continues to move forward, its subsidiary, The Depository Trust Company (DTC) will begin retiring PTS and corresponding PBS functions associated with distribution events processing in October 2014.

The Corporate Actions Transformation initiative will result in the replacement of the many files and legacy platforms that have evolved over the years. PTS/PBS functionality associated with announcements, entitlements, instructions, allocations and adjustments will be replaced by the “CA Web,” a new web-based user interface. ISO 20022 messaging will serve as the replacement for DTC’s legacy “CCF” corporate action files.

The DTCC Corporate Actions Transformation initiative is a multi-year project which represents a major shift in the way corporate actions are communicated to clients. Benefits include increased automation and ease of use, which helps firms reduce risk, enhance efficiencies and drive down costs related to corporate actions processing.

To ease the transition for clients, CA Web and PTS/PBS have been available in parallel since June 23rd. “We encourage clients to become familiar with the CA Web while it runs in parallel with PTS/PBS,” said Dan Thieke, DTCC Managing Director, General Manager, Settlement and Asset Services. “The test period gives clients the opportunity to make the transition away from PTS/PBS as seamless as possible and to experience the benefits that this new application brings to our clients.”

In an effort to mitigate implementation risk for both DTC and its clients, and to address client concerns and feedback, the retirement of the 10 functions associated with Distributions processing will take place in three phases:

* Will no longer be available for new activity; however, will remain active for historical events.

For information about important client action steps and a timeline, click here:
Important Notice B# 1476-14
Corporate Actions Transformation Factsheet.

The DTCC Learning Center is also offering self-paced training and CA Web Q&A sessions. The Learning Center can be accessed at https://dtcclearning.com/learning/assetservices/.

If you have any questions contact your Relationship Manager or email: catransformation@dtcc.com.

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