The DTCC Payment aXis® service provides an automated method for the transmission and settlement of various commission and fee types between funds and firms.

The DTCC Payment aXis® Commission and Fee Settlement service provides an automated process for the distribution of commission and fee payments.  The use of DTCC Payment aXis®:

  • Automates and standardizes commission and various fee payments
  • Simplifies the reconciliation of records between Funds and brokers
  • Reduces clerical costs. Eliminates the need to send or receive paper, diskettes, and tapes containing commission run information
  • Uses existing NSCC communications links
  • Consolidates money settlement with all other NSCC service transactions

Additionally, the Global Update process within DTCC Payment aXis® allows funds to globally update all their accounts associated with a specific account representative or a specific Firm branch in the event of a change to that rep or branch.

The DTCC Payment aXis® Invoicing and Fee Settlement service provides an automated solution for the exchange of Omnibus invoices and the settlement of various fee for accounts held in omnibus accounts. The Invoicing and Fee settlement service supports the following invoice fee types:

  • Sub-Accounting 12b-1 / Shareholder Service Fee
  • Sub-Accounting CDSC
  • Sub-accounting Underwriting Fee Adjustment
  • Sub-Accounting Short Term Redemption
  • Sub-Accounting Finder Fee Adjustment
  • Sub-Accounting Service Fee
  • Retirement / Bank Trust Service Fee
  • Networking Service Fee

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