DTCC boosts MF Info Xchange service 21 January 2021US Reporter: Maddie Saghir
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The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, has bolstered its MF Info Xchange service, the first offering of its kind to standardise communications for the mutual fund industry.
The recent enhancements include additional key capabilities to bring new efficiencies to the mutual fund communication process and meet evolving client needs.
MF Info Xchange will centralise the delivery and receipt of time-critical notifications and alerts.
According to DTCC, in 2020, MF Info Xchange delivered hundreds of event types to over 400,000 recipients in real time, including consolidated dividend/capital gain schedules, interval/tender fund transaction schedules, fund mergers, and other announcements.
DTCC says the new large trade notification event type feature will enable firms to communicate in real time with their fund partners, starting with the notice of large trade information to their fund partners, and facilitating two-way communication.
“We are incredibly proud of how MF Info Xchange has evolved throughout 2020,” says Ann Bergin, managing director and general manager, wealth management services at DTCC.
Bergin notes: “We have been encouraged by the continued adoption of MF Info Xchange and the positive feedback we are hearing from our clients.”
“By expanding communication capabilities between the funds and their distribution partners, we continue to address operational challenges for our clients in line with our on-going commitment to the mutual funds industry,” adds Bergin.
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