[9746]
March 10, 1998
TO: BANK AND TRUST ADVISORY COMMITTEE No. 2-98
BROKER/DEALER ADVISORY COMMITTEE No. 3-98
OPERATIONS MEMBERS No. 9-98
TRANSFER AGENT ADVISORY COMMITTEE No. 13-98
RE: TRUST PROCESSING GUIDELINES
______________________________________________________________________________
Enclosed please find the Trust Processing Guidelines document which was developed by the
Trust User Group (“TUG”)and the Bank and Trust Advisory Committee (“BTAC”) to facilitate the use
of NSCCGs Fund/SERV and Networking systems. The document provides detailed instructions for
processing mutual fund capital share transactions under various business scenarios involving a bank or
trust company as fiduciary to a mutual fund investor. The procedures outlined in the document are not
NSCC requirements but rather, are preferred processing methods developed and approved by the TUG
and the BTAC which we anticipate will become the industry standard. The guidelines will be periodically
updated to reflect business and technical developments.
The ICI and the NSCC would like to acknowledge the following persons who contributed to the
development of the Trust Processing Guidelines document:
Jeff Becker, SunGard Shareholder Systems
Rhonda Dixon-Gunner, Oppenheimer Funds Services
Leah Jensen, Norwest Banks
Rob McCabe, DST Systems
Nino Palermo, American Funds Service Company
Kelle Reno, DST Systems
Mike Ryba, Banc One
Katie Sevcik, Norwest Banks
Joe Spera, SEI Investments
Greg Spero, GT Global Investor Services
David Warsoff, NSCC
Questions or comments about the enclosed Trust Processing Guidelines document can be
directed to Diane Butler of the ICI at 202/326-5847, to NSCCGs 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 NSCCGs
mutual fund website which is fundserv.nscc.com.
Frank Litwin Diane Butler
Chairman - Bank & Trust Advisory Committee Director - Operations & Fund Custody