Advancing the benefits of standardization and automation, DTCC Payment aXis is a regeneration of the former Mutual Fund Commission Settlement service, a tried and tested service since 1992 which eliminates the manual, time intensive and costly processes of exchanging fee information via fax or mail/email. DTCC Payment aXis vastly improves upon those processes by transmitting data through our trusted, centralized platform.
Aligned with the latest trends and demands in the marketplace, DTCC Payment aXis supports various commissions and fees, including Contingent Deferred Sales Charge (CDSC) payouts, 12b-1 fees (or trail commissions) and many other fee types. The service also simplifies the processing of commissions and other fee payments for both broker controlled accounts and retirement plan accounts.