DTCC Integrates MF Info Xchange With Other Mutual Fund Services

MF Info XchangeThe premier post-trade market infrastructure for the global financial services industry has enhanced its MF Info Xchange with new efficiencies and capabilities, including integrating the offering with other DTCC mutual fund services.

The MF Info Xchange service standardizes communications for the mutual fund industry and centralizes the delivery and receipt of time-critical notifications and alerts, information that has typically been exchanged manually via fax, email or phone. The service has delivered hundreds of notifications to more than 76,000 email recipients. DTCC’s Wealth Management Services signed 134 clients to the service.

Ann Bergin, DTCC Managing Director and General Manager, Wealth Management Services, commented: “Wealth Management Services has a tradition of delivering products that enhance our clients’ efficiency and risk management. MF Info Xchange was developed with the input of an industry working group including DTCC clients and the Investment Company Institute (ICI). The response has been overwhelmingly positive and is a testament to the
strong collaborative relationship we have had with the ICI committees. We will continue to develop additional functionality to further support the evolving industry needs.”

John Corbisiero, Head of Traditional Investment Products Operations at Morgan Stanley, said: “We are actively using the MF Info Xchange service. The standardization of the communications has given our organization a significant lift in managing the notifications and all of the data. We have found it to be much more efficient on a daily basis since we no longer need to interpret the data. The calendar with all of the events in one place has also proven to be an added benefit. We look forward to more of our partners participating in this service.”

The upgrade includes the seamless integration with the DTCC Mutual Fund Profile Security Database, which further minimizes the risks associated with manual data entry and ensures consistency between these services by utilizing a single data source. Other enhancements include the ability of funds to share their projected monthly, quarterly or annual dates for “Dividend/Capital Gains” and “Interval/Tender Fund” activity. Intermediaries can view all consolidated schedules in one place. In addition, a further refined audit trail for distributed notifications further increases transparency and reduces risk.

This year, DTCC announced the expansion of the Sponsored Service of its subsidiary Fixed Income Clearing Corporation (FICC) in order to broaden the category of market participants who can participate as sponsors and to change how the service can be used, with sponsors now able to let their clients trade with counterparties other than themselves, providing sponsored members with the same execution flexibility they have in the bi-lateral market today.