[14105]
November 2, 2001
TO: INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 14-01
RE: DTCC MUTUAL FUND OFFSHORE FUND/SERV CONCEPT PAPER
The Institute’s Broker Dealer Advisory Committee Offshore Funds Processing Task
Force has been investigating ways to automate the processing of offshore products.1 The Task
Force on behalf of the industry is seeking modifications to the NSCC Mutual Fund Services
Fund/SERV system to facilitate the automation of processing of offshore funds for firms and
investment companies that are both currently NSCC capable for domestic trading.
DTCC has responded to the industry’s request by developing the attached Concept
Paper entitled “Mutual Fund Offshore Fund/SERV” dated August 8, 2001. Recommendations
for the proposed system enhancements to NSCC products include the ability to add FX rate on
trade confirms, add a currency indicator on trades and corrections, the ability to trade without
settlement, add a language and currency indicator on the registration record, and the base
currency and pricing method on Mutual Fund Profile.
If you have any questions or comments regarding the Concept Paper, please contact
Barbara Simon of DTCC at 212-855-5658 or at bsimon@dtcc.com
Kathleen C. Joaquin
Director – Transfer Agency
& International Operations
Attachment
Attachment (in .pdf format)
1 Offshore is defined as products that are registered for sale into the Non Resident Alien (NRA) market outside of the
United States. Typically these products are sold by U.S. distributors, managed by U.S. Managers, and domiciled in
Luxembourg, Cayman Islands, and Dublin, etc.