[10092]
July 2, 1998
TO: BANK AND TRUST ADVISORY COMMITTEE No. 9-98
BROKER/DEALER ADVISORY COMMITTEE No. 11-98
OPERATIONS MEMBERS No. 18-98
TRANSFER AGENT ADVISORY COMMITTEE No. 36-98
RE: INTRODUCTION TO TRUST PROCESSING
______________________________________________________________________________
Enclosed please find the Introduction To Trust Processing document which was developed by
the ICI’s Bank and Trust Advisory Committee (“BTAC”) and the NSCC’s Trust User Group (“TUG”)
to give bank senior executives a broad overview of the benefits of automation using NSCC’s
Fund/SERV and Networking systems. The document explains the role of NSCC and the services
provided to the industry and the role of DTC in the industry, and provides guidance for getting started
in the decision making process. In addition, a bank and a mutual fund company provide their
perspectives on the role automation has played in their respective operations. Contact information and
sample legal agreements are provided in the appendices.
The ICI and the NSCC would like to acknowledge the following persons who contributed to the
development of the Introduction To Trust Processing document:
Philip Brown, Banc One Investment Management Group
Brian Scribner, The Depository Trust Company
Martin Griffin, Massachusetts Financial Services Company
Greg Spero, GT Global Investor Services
David Warsoff, Goldman Sachs
Questions or comments about the enclosed Introduction To Trust Processing document can be
directed to Diane Butler of the ICI at 202/326-5847, to NSCC’s Mutual Fund Hotline at 212/412-8893
or to any of the above named individuals. Additional copies of the document can be obtained from the
NSCC or the ICI. The document is also available via the internet to authorized users of the NSCC’s
mutual fund website which is fundserv.nscc.com.
Frank Litwin Diane Butler
Chairman - Bank & Trust Advisory Committee Director - Operations & Fund Custody
Enclosure