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Advancements in Paperless Transactions and Cost Basis Tools at the 2007 STA Annual Conference

The 2007 STA Annual Conference presented by J. Trezza at DTCC focused on innovations in the financial services sector, including paperless legals, the AccuBasis cost basis tool, and developments in DRS (Direct Registration System) filings. Attendees discussed the importance of investor services, shareholder satisfaction, and the standardization of practices to enhance efficiency. Strategies for improving revenue, and the need for integration among TA, issuers, and service providers were highlighted. The conference addressed significant changes anticipated in the industry going forward.

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Advancements in Paperless Transactions and Cost Basis Tools at the 2007 STA Annual Conference

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  1. STA Annual Conference J. Trezza DTCC, Oct 2007

  2. Agenda • Paperless Legals • AccuBasis • Cost Basis Tool • FAST/DRS Rule Filing • DRS Status

  3. Paperless Legals

  4. Paperless Legals • > 99% of all deposit transactions • Investor service • $$$$$$ • No more Paper Legals @ DTC • Are you in it?

  5. AccuBasis

  6. AccuBasis • Cost basis calculations • Stock pricing history • Corporate actions • DRiP • Inexpensive • Investor friendly • Shareholder satisfaction

  7. AccuBasis • Business models • Seat @ table • White label • Link • Integrated • Customized • Revenue • TA, issuer and service providers Aggressive Birds

  8. FAST/DRSSEC Rule Filing I wasn’t in the office when they wrote these! Save me, please… HELP!!!! OUCH! It wasn’t my fault. Don’t hurt me!!!!! I’m innocent I tell ya… Don’t shoot!!! Ouch, that hurts… You got the wrong guy

  9. FAST Filing Objectives • Standardize • Update • Preparation for migration • 100 new agents • 6,000 new issues • Safeguard • Lots of comments

  10. My perspective…. IMF Team

  11. Insurance * Too Expensive * Not a Custodian Exceptions <$25K insurance <$3K infrastructure $600 for safe * Are too! DWAC Black’s Law FAST/DRSMY Perspective

  12. Black’s Law • The keeping, safeguarding, care, watch, inspection, preservation (and) or security of a thing (securities), carrying with it the idea of the thing being within the immediate personal care and control of the person to whose custody it is subjected. • …custodian has the obligation to preserve and safe-keep the property entrusted to her…

  13. DTC won’t pay fees Always have, always will Fee bearing issues Cancellation fee > $7.8 million 2006 DMA Rush transfers Cert/WT rejects DRS rejects Easy to collect Uninformed FAST/DRSMY Perspective

  14. Taken all comments into account Reasonable changes Sought outside, third party perspective Re-file SEC guidance for matters still to be ironed out FAST/DRSMy other observations…

  15. DRS Update

  16. DRS update • > 4,000 eligible issues • 300 statement only • 300 DRS eligible only • < 3,000 to go • Notify DTC • Eligible only and DRS participating • Preferred, warrants, rights, etc. • DTC only shareholder not the same as BEO

  17. DRS Update • SIFMA initiative (handouts in the back) • Overwhelming support: • Pershing • Bear Sterns • Citigroup • NFS (default only) • Project: > 15% reduction in WTs for “08 • Reduction in WTs = reduction in deposits

  18. www.dtcc.com/nomorepaper www.dtcc.com/ProductsAndServices/asset/accubasis

  19. “I’m outta here…”

  20. ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? The mandatory Q & A session!!! ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

  21. Off to the spa

  22. STA Annual Conference J. Trezza DTCC, Oct 2007

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