[11449]
December 3, 1999
TO: BANK AND TRUST ADVISORY COMMITTEE No. 29-99
BROKER/DEALER ADVISORY COMMITTEE No. 33-99
OPERATIONS COMMITTEE No. 46-99
RE: BROKER/DEALER ADVISORY COMMITTEE Y2K CONTINGENCY PLAN
CONTACTS
______________________________________________________________________________
The ICI Broker/Dealer Advisory Committee recently established a task force to discuss
contingency planning in the event that a National Securities Clearing Corporation (NSCC) participant
(or their service provider) experienced operational difficulties during the millennial crossover weekend.
The task force developed alternative processing guidelines to specifically address a situation in which a
fund or a firm is unable to utilize NSCC Fund/SERV for trade placement and settlement. (These
guidelines were previously summarized in OPERATIONS NO 41-99, BANK AND TRUST NO. 25-09
and BROKER/DEALER NO. 30-99.)
A key component of the plan is the development of a communication network for trading
partners to notify each other if an outage occurs. The task force recommended the development of a
contact list to assist in the communication process. Contacts at funds and firms will be responsible for
informing their trading partners when they are unable to use Fund/SERV and use the contact list to
facilitate this effort. Once this communication has been made, contacts will then ensure that the
contingency plan is activated.
The Investment Company Institute will assist in building the designated contact list. Attached is
a list of the funds, firms, and trust companies that have responded as of December 3. If you have not
already done so and wish to designate a contact at your organization, please complete the attached
contact form and fax to Patricia Weems at the
ICI, fax number 202/326-5853. Completed contact forms should be returned as soon as possible. Please
be sure to list contacts that have been specifically designated to communicate and respond to NSCC
Fund/SERV trading issues
Contact names will be compiled on a spreadsheet and available on the Institute’s member
website (http://www.members.ici.org). The ICI member’s website is a private site restricted to
registered users only. Access can be gained after ICI approval of a submitted
registration request. Members who do not have ICInet access codes may request them by going to the
home page (referenced above) and completing the electronic enrollment form. Your access code will be
assigned to you within 48 hours.
If you have any questions, please contact the undersigned at 202/326-5850.
Justine Phoenix
Director – Operations/
Distribution and Service
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