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DTCC - The Outlook for 2007

Technology / Communication Plans for 2007. PBS 2.0SMART MessagesMulti Protocol Label Switching Upgrade (MPLS)Common Data Transfer ServicesWeb Service Simplified Sign-on. PBS Version 2 Update. PBS 2.0 LaunchInternal Pilot (8/7

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DTCC - The Outlook for 2007

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    1. DTCC - The Outlook for 2007 Rich Lanning BDUG October 2006

    2. Technology / Communication Plans for 2007 PBS 2.0 SMART Messages Multi Protocol Label Switching Upgrade (MPLS) Common Data Transfer Services Web Service Simplified Sign-on

    3. PBS Version 2 Update PBS 2.0 Launch Internal Pilot (8/7 – 9/30) External Beta 2 Firms (10/1 – 10/31) 10 Firms (11/1+) General Availability – Phased Rollout (2/15) Benefits Single sign-on between PBS and PBS 2.0 functions Applications re-platform Off the mainframe Enhanced security framework (seamless to users)

    4. Urban Legend ?! PBS Slowdown w/ Settlement between 1-3 PM Contact CSC (1 888 382 2721 - Option 1 PBS related problem) as they occur State that user is experiencing a "disruptively slow response time on PBS", the PBS function they are using, and the approximate time they first experienced the issue. Will not be able to immediately remedy the situation but that we plan to use the collected information to analyze and determine the cause and solutions.

    5. PTS Screenscraping Uploads for DO, NDO, IPOS and PO to be handled as part of 2007 planning Investigating alternate delivery of PBS data CA Re-Engineering - Messages will be published and the on-line queries will be supported with the ability to export lists to Excel. CCF Files – Projection files (CSHPRJ), intra-day allocation files (CSHSTA - CSHSTJ), EOD allocation files (CSHSET) EOD unallocated files (CSHUNL) Please do not screenscrape PBS!!

    6. SMART Messages Fact: 3270 printer support will be phased out over time SMART Messages is now generally available – Please try it! Deposit ticket options are still being reviewed and will be finalized shortly

    7. SMART/Messages Short Term deliverables Home Page Display more than 5 days worth of available tickets - Max is 7 days. Update Replay button in order to be more intuitive Enhanced sorting capabilities

    8. SMART/Messages Ticket Display Page When viewing group of actual tickets be able to: Provide better delineation between tickets Allow users to search for ticket specific information Allow users to print individual/specific tickets w/in all shown and not just the entire range Enhanced search capabilities: Account # $ amount Status Other ticket specific information

    9. SMART/Messages Message List Page Display more than 30 tickets at a time (however, we need to keep a limit on the total number displayed as that could increase response times) Allow users to move between groups of 30 tickets instead of using the back and forth buttons (e.g. 1-30, 31-60, 61-90, etc.)

    10. SMART/Messages Long Term Enhancements Home Page Enhanced sorting capabilities Ticket type Use of filters/ticket specific information Alerts Notify users when something new has come. Allow users to define alert parameters. Parameters to include: Time, Ticket Type, Other Ticket Specific Information.

    11. SMART/Messages Home Page (cont.) Allow users to create a profile (i.e. define which ticket types should go to which destination – 00, 01, 02, xx) Indicate which tickets in a range of tickets have already been printed Message List Page Display ticket specific information in the message text field.

    12. SMART/Messages Ticket Display Page Identify when a ticket has already been printed, especially when a range of tickets has been printed. Allow tickets to be downloaded either individually or in groups so users can archive

    13. MPLS Network Upgrade A technology “refresh” which requires swapping out the “old” frame relay circuits & routers The new MPLS routers & circuits will offer optional features such as encryption It is not a small effort & we hope to have it significantly completed in 2007 We ask for your assistance with the coordination with this task

    14. Common Data Transfer Service An effort to re-engineer our message & file systems onto a single enterprise-wide architecture Meeting with participants between now & the end of 2006 to examine message & file interfaces Results will be published in Q2 2007

    15. Web Service Simplified Sign On Will be swapping out existing PC Web Direct digital certificates with new DTCC Web Direct certs Piloted in October with 10 firms. November general migration of ACATS & MF services Will work with each firm’s Access Coordinator to review & authenticate each user’s existing access

    16. DEMATERIALIZATION

    17. Direct Registration System (DRS) July 2006: SEC rule approved - all exchange listed issues must be DRS eligible 1/1/2007: new issues coming to market must be DRS eligible 1/1/2008: all listed issues must migrate to DRS SIA approaches regional exchanges

    18. DRS – Jan 2007 – New Issues Underwriter awareness Information flow to Syndicate Operations Division Letters to all underwriters @ DTCC article US Facilities shut down Eliminate Hold and Bust function Minimal transaction volumes 2 “Bust” per day. Certificate transactions continue to decline

    19. DRS Mid 2007: Begin analysis of eliminating cert. for DRS eligible issues Info exchange with DTCC Board, SIA, and industry 3Q 07: Implement DRS processing enhancements Move “all” shares Move “all”, sell fractions Move “all”, terminate account, sell fractions

    20. DRS Jan 2008: All NYSE, NYSE Arca, Nasdaq, and Amex issues must be DRS eligible Expand DRS to other exchanges 2Q 08: Default to “statement only” for DRS eligible issues Currently: 80% of WTs are for DRS eligible issues

    21. WTs 2007: Avg. daily WT cert. volumes decline by 22% WT DRS statement volumes increase by 50% 2Q 07: Explore limited processing days each week for WTs

    22. WTs Mid 2008: WT processing truncates to 2X a week Prepare to eliminate DMD processing 4Q 08: Sunset DMD functionality

    23. Deposits 2Q 06: Efforts continue to expand Paperless Legal program Letters and flyers to agents @DTCC articles One-on-one contact with agents and participants Jan 2007: “No paper” processed for legals Six month break-in period / paper stripped & returned for PLAs Presentments outside of DTC for non-participating agents in July 2007

    24. Deposits July 2007: No paper legal transactions accepted by DTC Sept 2007: DTC begins to charge for paper legal transaction rejects 4Q 2007: Explore limited processing days each week for deposits

    25. Deposits 2Q 08: Truncate deposit processing to 2X each week Consider sun-setting BDS Exceptions: Reorg deposits Custody deposits Restricted deposits

    26. Non-Transferables 2007: Over 1 million cert. in vault PREM and Destruction process continues As cert. decline, economies of scale diminish Jan 2007: Fees increase 3Q 2007: Explore eliminating new deposits Fee increases considered

    27. Custody 2007: Growth continues as less fungible cert. in circulation Vault houses over half million cert. and growing All manual processes, with no economies of scale 1Q 08: Recommend “right sizing” fees 3Q 08: Plan for sun-setting of ESS service

    28. Custody 1Q 09: Evaluate options for processing efficiencies and cost cutting

    29. OTHER 2006 / 2007 NEWS

    30. Other News You Can Use! Settlement Hotline Established – 212 855 5800 2007 Fee Impact Analysis will be available in late November Real time link between Omgeo’s Tradesuite & DTC in November – Late Affirm Processing DTCC Learning – Review certification opportunities & new e-learning offerings 2007 BCP Testing & Out of Region Recovery Planning

    31. Annual Meeting Recap

    32. ATP Re-Design Feedback on handout describing the holiday processing proposal ISO 15022 Message Formats Feasibility Real-time 24x6 will submit DOs in the night cycle based on certain receive messages that they will now be able to retrieve in the night cycle. Welcome individual responses & it would be great if BDUG could respond as an organization will submit DOs in the night cycle based on certain receive messages that they will now be able to retrieve in the night cycle. Welcome individual responses & it would be great if BDUG could respond as an organization

    33. DTC Operational Metrics Like you, we have hundreds of internal operational performance metrics. We always tell you how we are doing... after we do it. This year we selected 17 metrics from our catalog that we thought clients would be most interested in. We vetted those with the OAC and ASAB in 2005. We set targets and are monitoring performance with the OAC and ASAB. We are planning to distribute more broadly in 2007. We hope this adds additional transparency and accountability. Are there other metrics you would be interested in for next year?

    34. Structured Securities Be mad as hell and pledge not to take it anymore. White papers are nice but it's time for action. Paying agents are not the problem - the structure of many deals is. The community is together trying to separate the bad from the good deals and make recommendations for each. We do not want to harm to the investor with our actions. BDUG is welcome to the table!

    35. QUESTIONS?

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