DTCC’s MF Info Xchange service sees significant increase in distributed event notifications in 2022
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DTCC’s MF Info Xchange service sees significant increase in distributed event notifications in 2022 22 March 2023US Reporter: Jenna Lomax
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DTCC has reported that its MF Info Xchange service saw a 55 per cent growth in distributed event notifications between 2021 and 2022.
The MF Info Xchange, the first offering of its kind to standardise communications for the mutual fund industry, delivered more than 6,000 event notifications to over 648,000 recipients in real-time last year.
This included consolidated dividend and capital gain schedules, interval and tender fund transaction schedules, fund mergers, large trade notifications and other critical announcements.
MF Info Xchange facilitates and centralises the delivery and receipt of time-critical notifications while reducing risk throughout the communication process.
Its API capabilities allow clients to customise data extraction and automate communication, giving funds and firms the ability to send and receive notification data directly from and to their internal systems.
The service also offers a comprehensive web user interface, providing clients with flexibility to choose a desired connectivity method to the system.
Since launching the service in 2018, DTCC has continued to roll out new features, including the addition of API capabilities and the further development of its Mutual Fund Profile Service, a centralised data source for comprehensive fund prospectus and operations rules.
Ann Bergin, managing director and general manager of wealth management services and asset services at DTCC, says “We are proud to offer this innovative solution for our clients. MF Info Xchange is an effective and efficient solution to the long-standing challenge of missing or late delivery of time-critical information between trading partners. As the industry standard for mutual fund communications, we are committed to continued expansion of the service to meet the evolving needs of our participants.”
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