DTCC’S MF Info Xchange service builds momentum, with 55% growth in distributed event notifications
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services, announced that its MF Info Xchange service, the first offering of its kind to standardize communications for the mutual fund industry, has reached new milestones. In 2022, the service successfully delivered over 6,000 event notifications to over 648,000 recipients in real time, the highest volumes ever, including consolidated Dividend/Capital Gain schedules, Interval/Tender Fund transaction schedules, Fund Mergers, Large Trade notifications, and other critical announcements. When compared to 2021, these milestones represent 55% growth in distributed event notifications, up from 3,881, and 10% growth in email distributions, up from 587,407.
MF Info Xchange facilitates and centralizes the delivery and receipt of time-critical notifications while reducing risk throughout the communication process. Its API capabilities allow clients to customize data extraction and automate communication, giving funds and firms the ability to send and receive notification data directly from and to their internal systems. The service also offers a comprehensive web user interface, providing clients with flexibility to choose a desired connectivity method to the system.
“We are proud to offer this innovative solution for our clients. MF Info Xchange is an effective and efficient solution to the long-standing challenge of missing or late delivery of time critical information between trading partners. As the industry standard for mutual fund communications, we are committed to continued expansion of the service to meet the evolving needs of our participants,” said Ann Bergin, DTCC Managing Director and General Manager, Wealth Management Services and Asset Services.
Since launching the service in 2018, DTCC has continued to roll out new features, including the addition of API capabilities, introduction of a “Large Trade Notification” event type and integration with DTCC’s Mutual Fund Profile Service, a centralized data source for comprehensive fund prospectus and operations rules.