[10215]
August 20, 1998
TO: BANK AND TRUST ADVISORY COMMITTEE No. 11-98
BROKER/DEALER ADVISORY COMMITTEE No. 12-98
OPERATIONS COMMITTEE No. 34-98
PRIMARY CONTACTS - MEMBER COMPLEX No. 72-98
TRANSFER AGENT ADVISORY COMMITTEE No. 50-98
RE: PARTICIPATION - YEAR 2000 INDUSTRYWIDE TESTING
______________________________________________________________________________
As you know, the Securities Industry Association released last week the final results of
the NSCC’s July Beta Test in which a limited number of mutual fund groups successfully
participated in tests simulating a four-day trading cycle.
The NSCC is currently recruiting new participants for it’s second round of Beta Testing
which will take place on October 5 - 9, 1998. The cut-off date for new participants, who will
need to conduct point-to-point testing prior to the October Beta Test, is September 1, 1998.
The NSCC has scheduled 5 days in September (see below) for Firms and Funds to conduct
point-to-point tests. These tests can include sending and receiving files from the NSCC and a
complete loop test or mini Beta test.
Wednesday -- September 9
Monday -- September 14
Saturday -- September 19
Wednesday -- September 23
Saturday -- September 26
Interested participants should contact George Kelly, Vice President of Product
Management at the NSCC - 212/412-8428, as soon as possible. Fund groups who use NSCC
services through a third party are encouraged to urge those organizations to participate in the
October Beta Test. The NSCC will also be conducting a series of point-to-point, mini-beta tests
one day per month in the remainder of 1998 beginning in September for participants who are
unable to meet the September 1 deadline for the October Beta Test.
Members are encouraged to participate in this next round of preliminary tests in order
to prepare for the SIA/NSCC’s Industrywide Test which is scheduled to begin on March 6,
1999.
Donald J. Boteler
Vice President
Operations & Training