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Fund Transfers (FTR) enables distributors and insurance carriers to perform their fund transfer transactions in real-time. It is comprised of two distinct transactions:

Values Inquiry enables distributors to request and receive from carriers the most current contract information prior to submitting a fund-transfer request.

Fund Transfers automates a direct exchange or one-time reallocation of the underlying funds within a variable insurance asset. This request includes modifications to the service features effected by the exchange.

  • WHO CAN USE THE SERVICE

    Fund Transfers (FTR) is available to firms that are members of DTCC’s National Securities Clearing Corporation (NSCC). Click here for information on how to become a member of NSCC.

  • BENEFITS

    With FTR:

    • Distributors can monitor and supervise representative initiated fund transfers to reduce risk from unethical or inappropriate rep business practices.
    • Carriers process more in-good-order transactions due to upfront rule checks.
    • Rep experience improves by using a single front-end to process fund transfers for multiple carriers.
    • Real-time response capability provides fund transfer status to distributor.
    • Update service features affected by Fund Transfer transaction.
    • Support industry standard practice and standard formats adhering to the ACORD XML standard model for insurance processing XML and Web-services technology.
    • Secure confidential data through DTCC’s Securely Managed and Reliable Technology (SMART) network, which provides centralized, end-to-end managed communications for all post-trade clearance and settlement processing.

  • HOW THE SERVICE WORKS

    Using their proprietary or vendor supported platforms, distributors and carriers can electronically process fund-transfer transactions as illustrated by the following:

    • Rep selects a contract on distributor front-end.
    • Distributor application initiates Values Inquiry requests for the most updated contract information from the carrier via the Values Inquiry transaction
    • Once the Values Inquiry is complete and the contract is refreshed, rep submits a Fund Transfer Request. Assuming that all internal distributor rules are met, the distributor then transmits the fund-transfer request, inclusive of service feature updates to NSCC.
    • NSCC validates the fund transfer request to ensure it follows all format rules then transmits valid request to carrier.
    • Carrier conducts internal rules check (pre-batch cycle) and responds to NSCC with either a pending approval or reject status.
    • NSCC validates confirmation transaction and forwards to distributor.
    • Next Business Day, if first confirm was pending approval, carrier will transmit a final confirmation with either an approval status or a reject status.

  • For More Information

    To request additional information, please click here.

Additional Resources

  • News

    Check out the latest news about DTCC's Fund Transfers with real-time response capability providing fund transfer status to distributor. Visit the website to learn more.

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  • Legal

    Download the legal information about Fund Transfers which helps carriers process more in-good-order transactions due to upfront rule checks. Visit the website.

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  • Client Center

    Get access to documentation and information necessary for DTCC's Fund Transfers (FTR) service. Visit our website or call at 1-888-382-2721 for support.

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