Depository Trust & Clearing Corporation
 

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Products & Services

Wealth Management Services

Wealth Management Services

Networking for Standardized Data Reporting

a service offering of National Securities Clearing Corporation (NSCC)

Networking for Standardized Data Reporting (SDR) is an enhancement to Networking that helps fund companies and insurance carriers better monitor trading frequency by investors whose transactions are housed in omnibus and super omnibus accounts -- a pool of individual accounts combined into one account, usually in the name of an intermediary  -- and ensure that a fund's market-timing policies are being applied.

Overview

Networking is an automated, centralized record-keeping system through which all customer account activities can be exchanged and reconciled by participants. The service provides accurate, timely updates in a controlled environment.   Networking for Standardized Data Reporting (SDR) is an enhancement to Networking that helps fund companies and insurance carriers better monitor trading frequency by investors whose transactions are housed in omnibus and super omnibus accounts -- a pool of individual accounts combined into one account, usually in the name of an intermediary -- and ensure that a fund's market-timing policies are being applied.

The enhancement supports the operational needs of fund companies and intermediary firms to comply with SEC Rule 22c-2.  It can also be used by insurance carriers and their intermediary partners who are required to comply with the rule.

Networking for SDR is accessible via CPU-to-CPU links, or through DTCC WebDirect, a Web interface that allows participants direct access over the Internet to services provided by DTCC's subsidiaries.

Who Can Use the Service

Any interested financial organization that meets NSCC qualifications can use the service.

Benefits

  • Provides the industry with an efficient, streamlined and cost-effective process to comply with regulatory requirements.
  • Leverages existing technology from an industry standard to provide an easy way to exchange information and monitor trading frequency.
  • Automates and centralizes through a single connection the process of information exchange.
  • Uses standardized data formats to transmit information.

How the Service Works

Using the SDR stream within Networking, fund companies and insurance carriers can request and obtain shareholder identity and trading information from intermediaries on two levels:

  • At the summary data level, where information is passed for super omnibus accounts - those composed of multiple plans, trusts and/or investor omnibus accounts.  This information may include account numbers and the dollar value of all shareholder buys and sells. 
  • At the detail data level, where information is passed on a specific account or at the shareholder trading level.

Networking for SDR supports the following functions:

  • Data requests from fund companies and insurance carriers
  • Acknowledgments from intermediaries
  • Summary responses from intermediaries
  • Detailed responses from intermediaries.

For More Information

Please contact Wealth Management Services Marketing at (212) 855-8877 or Insurance Services at 1 (800) 422-0582.


This description is for informational purposes only. This Service is governed by applicable Rules, Procedures, and Service Guides for each DTCC subsidiary, which contain the full terms, conditions, and limitations applicable to this Service.

Technical Documentation

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Who to Call

Customer Service
1.888.382.2721

Membership
1.212.855.8877

Press Contacts
1.212.855.5472

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