A news release said the new offering, by DTCC’s National Securities Clearing Corporation subsidiary, will also include features providing users with fund distribution data as well as contact information and the processing capabilities of funds and firms.
The database will include information about:
- a fund’s investment objectives,
- minimum and maximum investment requirements,
- fee schedules,
- breakpoint schedules,
- linkage rules, and
- other fund rules.
“This initiative will deliver major efficiencies to the industry by providing a single central resource for the dissemination of fund information and offering greater operational flexibility,” said Ann Bergin, managing director and general manager, DTCC Distribution Services, in the press release.
The announcement said that the new database is structured on four levels with the Management Company level first, followed by Share Class, Fund Portfolio and Security Identifier (CUSIP numbers provided by Standard & Poor’s) for each portfolio.
As part of the redesign, according to the announcement, DTCC will create new Web screens that will allow users to query and retrieve the same information on the screen that can be found in a fund’s prospectus.
More information is at www.dtcc.com.