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MFS Cross Product

Welcome! In this section of the Learning Center you will find resources that support features, functionality and best practices that apply across multiple MFS products and services. Scroll down to read the brief descriptions and click Learn more to go to the related page.

Remember to log in to see all content.

 

Welcome! In this section of the Learning Center you will find resources that support features, functionality and best practices that apply across multiple MFS products and services. Scroll down to read the brief descriptions and click Learn more to go to the related page.

Remember to log in to see all content.

 

New Account / Account Maintenance Transparency Enhancements – Best Practices

Funds require further transparency into advisory programs, platforms, distribution channels, retirement programs and servicing relationships of trust-networked accounts, intermediary accounts not held in omnibus, and in certain instances omnibus accounts where the information is not being provided through the Omni/SERV Activity and Position files. This information is necessary for intermediary oversight, fee reconciliation, and internal reporting. The process to obtain the information is a highly manual and fragmented process.


 

 

Cost Basis Reporting Service (CBRS) Supplemental Guide for Mutual Funds

DTCC initially launched its Cost Basis Reporting Service (CBRS) in 2003 to enable broker-dealer and bank client firms to pass cost basis on assets transferred via DTCC’s Automated Customer Account Transfer Service (ACATS). The Emergency Economic Stabilization Act of 2008 was signed into law on October 3, 2008, which includes provisions from the Energy Improvement and Extension Act of 2008 that requires brokers to provide cost basis reporting for securities. The Internal Revenue Service (“IRS”) and Treasury Department released final regulations for implementing cost basis and other information reporting requirements on October 12, 2010. 


 

Interval Funds: Repurchase Processing User Guide & Best Practices

The financial services industry evolves by constantly innovating products and services to meet investor needs. One of these innovations is closed-end “interval” funds. While first permitted as an investment product some 25 years ago, interval funds are receiving renewed attention from fund companies and advisers alike who are seeking increased product and portfolio diversification while providing wider access to less-liquid, longer-term investments that typically make up interval fund portfolios. Interval fund assets continue to expand within the marketplace, with aggregate assets over $40 billion as of August 2021, up nearly 30% year-over-year.


 

Matrix Levels

A matrix level is the level of control on a sub-account provided to a Firm or Fund using Networking.


 

Money Market Fund Reform

Amendments to the rules governing money market funds, adopted by the Securities and Exchange Commission (SEC) in July 2014, impose significant structural changes on the money market fund industry. According to the SEC, the rules are designed to address money market funds' susceptibility to heavy redemptions in times of stress, improve their ability to manage and mitigate potential contagion from such redemptions, and increase the transparency of their risks, while preserving, as much as possible, their benefits.


 

Trust Processing

The Trust Processing Guidelines document was originally created by the Trust User Group and the ICI (Investment Company Institute) Bank, Trust and Retirement Advisory Committee to facilitate the exchange of information flowing between bank trust departments and fund groups utilizing NSCC’s Fund/SERV® and Networking systems.


 

Underlying Firm Symbol (UFS)

The Underlying Firm Symbol (UFS) provides a standard method of identifying intermediaries involved in providing service to a mutual fund account.


 

Underlying Firm Symbol (UFS) List

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UFS Deletions and Modifications List

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Mutual Fund Services by Fund

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Trust Processing Contact List

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Mutual Fund Services by Firm

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UFS Request and Maintenance Form

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New Account / Account Maintenance Transparency Enhancements – Best Practices

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Money Market User Guide

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Matrix Level Guide

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Underlying Firm Symbol (UFS) Guide

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Trust Processing Best Practices

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Interval Funds: Repurchase Processing User Guide & Best Practices

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Cost Basis Reporting Service (CBRS) Supplemental Guide for Mutual Funds

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DTCC Mutual Fund Services Webinar - Money Market Reform Enhancements

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Communicating Negative Rate & Share Cancellation Activity for CNAV Money Market Funds: Best Practices

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Country Codes

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State Codes

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Social Codes

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Chapter 4 Status Codes

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