[30391]
November 10, 2016
TO: Bank, Trust and Retirement Advisory CommitteeBroker/Dealer Advisory Committee RE: BDAC/BTRAC Swing Pricing Task Force
As follow up to the November 17 ICI conference in Boston on the Liquidity Risk Management rule, we are announcing the formation of the BDAC/BTRAC Swing Pricing Task Force. Initial conference call details were sent to all committee members by calendar invitation. We strongly urge all committee members, or their designee, to participate.
The purpose of the task force is to…
1) Understand fund needs for both the type and timeliness of trading information
2) Understand current intermediary capabilities to meet fund needs
3) Identify potential solutions to close gaps between needs and capabilities
4) Identify any role for DTCC to assist the industry’s support of swing pricing, as needed
5) Develop necessary documentation/common practices/DTCC user guides that may emerge from the task force’s work
During this initial call, we will present a conference call-based approach to educate task force members on the Final Rule and members’ needs and capabilities. The intent is to prepare for an on-site meeting coinciding with the February 2017 BTRAC meeting in Tampa, FL. At the on-site meeting, we will address areas identified by the task force for industry involvement.
Committee members that would be willing to co-chair the Task Force should notify John Randall (john.randall@ici.org; 202.326.5930) or me (jeff.naylor@ici.org; 202.326.5844) of your interest.
Both the Final Rule and ICI’s summary memo are available by clicking on the links.
As previously stated, we strongly urge all members to participate. The industry would benefit from a collaborative effort to identify industry-based solutions and common practices that reflect many perspectives that allow for standardization, as they typically lead to scalable, lower cost solutions that have always served the industry well. We thank you in advance for your participation.
Jeff Naylor
Director, Operations and Distribution