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Networking for Standardized Data Reporting Bank Depository User Group October 16, 2007 Networking for Standardized Data Reporting Bank Depository User Group October 16, 2007 National Securities Clearing Corporation is a subsidiary of The Depository Trust & Clearing Corporation Wealth Management Services

Background SEC Redemption Fee Rule 22c-2 Board of Director's Meeting Written agreements Frequent trading monitoring Redemption fee monitoring Restrictions

Background Investment Company Institute (ICI) Standardized Data Reporting Working Group Communications Taskforce Guidelines Taskforce Technical Design Taskforce

Communications Taskforce Provides ICI members with information on Rule 22c-2 initiatives Meetings Conference calls Memos Agreements Package

Communications Taskforce Worked with a number of other industry groups to communicate with their constituencies: American Bankers Association (ABA) American Society of Pension Professionals and Actuaries (ASPPA) Securities Industry Association (SIA) Society of Professional Administrators and Recordkeepers (SPARK)

Guidelines Taskforce Provides guidelines for Standardized Data Reporting (SDR) via NSCC Definitions Best Practices Examples

Technical Design Taskforce Designed SDR functionality Processing Flow Critical Data Elements Data Definitions Common Terms Record Layouts

Common Terms and Definitions Omnibus – an account held at the fund representing assets for multiple investors Plan Account – a qualified retirement account containing multiple plan participants Super Omnibus – an account held at the fund containing assets of more than one omnibus account

Common Terms and Definitions Intermediary – the company or institution from which the fund is requesting data Underlying Intermediary – a related entity that transacts with the funds through services provided by an intermediary

Common Terms and Definitions Category 1 Transactions Commonly considered to be participant- directed transactions Commonly considered to be transactions where the investor or rep may have sufficient control to perform market timing

Common Terms and Definitions Category 2 Transactions Commonly considered to be non-participant directed transactions Commonly considered to be transactions where the investor or rep does not have sufficient control to perform market timing

SDR Data Flow

SDR Data Request Required Key Data Firm Participant Number Fund Participant Number Security Issue ID Account Identifiers SDR Control Number

SDR Data Request Required Key Data SDR Request Type Fund Account Level Plan Level Investor Omnibus Account Fund/SERV® Control Number Rep Level Stop Recurring

SDR Data Request Search Parameters – used to customize the request and assist the intermediary in giving the best possible response Date Range Social Security Number/Tax Identification Number Transaction Type (Buy/Sell) Threshold Amount

SDR Acknowledgement Acknowledgement Response will be provided, or Request will be forwarded to underlying firm

SDR Reject Intermediary Reject NSCC Reject Reject codes are available for both scenarios

SDR Summary Response Super Omnibus Identifies underlying accounts Provides summary trading information Helps funds identify accounts to monitor May prompt separate detail request for additional information on accounts

SDR Summary Response Required Key Data Plan ID/Investor Omnibus Account Number Dollar value of buys and sells

SDR Summary Response Optional Key Data Number of Category 1 buys and sells Number of shares in Plan/Investor Omnibus Account End-of-day dollar balance Social Code

SDR Detail Response Plan/Omnibus Account Level Provides trading detail for all individuals within an account Investor/Shareholder Account Level Provides trading detail for a specific individual

SDR Detail Response Required Key Data Social Security Number/Tax Identification Number Transaction Type Transaction Category Trade Date Dollar/Share/Price

SDR Detail Response Optional Key Data Transaction Source Transaction Code STR Fee Amount CDSC Amount

Systems Interface Mainframe Fund Request Firm Response NSCC Rejects and Reminders Distributed (XML Messaging) Fund Request Input Only

Systems Interface New Datatrak SYSIDs Production Fund Input – Firm Input – PSE Fund Input – Firm Input – 46327

Systems Interface New Autoroute Numbers Production Fund Request (and NSCC Reminders) – Firm Response – PSE Fund Request (and NSCC Reminders) – Firm Response –

Hours of Operation Monday – Friday Multibatch (all times are eastern) Input 9:00 a.m., 12:00 p.m. and 3:00 p.m. Extract 10:00 a.m., 1:00 p.m. and 4:00 p.m. Saturday Input 9:00 a.m., 12:00 p.m. and 2:00 p.m. Extract 10:00 a.m., 1:00 p.m. and 3:00 p.m.

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