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What Reengineering Project

A Bit of History. Transforming Corporate Action Processing outlined DTCC's strategy to help firms manage risk, reduce cost and achieve greater levels of STPMunicipal Operational Underwriting Process and Corporate Operational Underwriting Process documented the operational underwriting process in pl

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What Reengineering Project

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    2. What Reengineering Project?

    3. A Bit of History Transforming Corporate Action Processing outlined DTCCs strategy to help firms manage risk, reduce cost and achieve greater levels of STP Municipal Operational Underwriting Process and Corporate Operational Underwriting Process documented the operational underwriting process in plain English Guides

    4. Reengineering Objectives Common Platform for Underwriting and integrated Corporate Action Processing Improve Customer Service by offering greater operational flexibility Streamline Processes and eliminate redundancies Reduce Risk through increased automation

    5. Reengineering Objectives Support International Standards and Best Practices ISO 15022 compatible Multi-currency enabled Support international numbering systems

    6. Current Underwriting Platform Does not capture all fields required to service security over its life Relies upon single security identifier Implemented over twenty years ago Consists of over six distinct customized sub-systems

    7. Current Corporate Actions Platform Consists of over sixty distinct customized sub-systems Many implemented over twenty years ago Sub-systems individually maintained and have been significantly altered over time Relies upon single security identifier

    8. Current Corporate Actions Platform Batch processing mostly end-of-day Proprietary formats Unique procedures (e.g. contra-CUSIP, envelopes) Hard-coded processing rules

    9. Underwriting System Processes Underwriting Announcements Capturing and maintaining Underwriting event information Eligibility Review process to determine if issue can be DTC eligible Packaging Establishing DTC inventory for the new issues

    10. Underwriting System Processes Closing Crediting Underwriters with position once issue closes Post Closing Activities Gathering and verification of asset servicing features

    11. Master File Changes Consolidate multiple Security Master Files within DTCC into one common structure Elimination of sub-issue types that drive processing and dont describe the security Enhanced Support for Asset Services features

    12. Corporate Action Processes Announcements Capturing and maintaining of event information Entitlements Identifying eligible participant positions and calculating the entitlement Response Capture Processing of all Corporate Action instructions

    13. Corporate Action Processes Reconciliation Balancing entitlement positions, pre-balancing cash payments and resolving out of balances Payments Receipting and allocating event proceeds; post allocation bookkeeping Tax Creating and Maintaining information to support tax elections

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    19. Current Status Business Requirements Documents finalized Currently in Analysis and Design Reviewing and Responding to Customer Feedback Launched Reengineering Website

    20. Next Steps Customer Input Underwriting Focus Groups completed Corporate Action Focus Groups Round 2 to be held 4th Quarter 2006 Finalize Analysis and Design Phase Ongoing Communication Strategy

    21. Timeline Key Dates Underwriting Initiate UAT Q4 2006 Commence Transition Q2 2007 Corporate Actions Initiate UAT Q3 2007 Commence Transition Q3 2008

    22. Questions

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