The Depository Trust & Clearing Corporation’s (DTCC) MF Info Xchange service is now enhanced with new efficiencies and capabilities, including integrating the offering with other DTCC mutual fund services.

MF Info Xchange is able to centralise the delivery and receipt of time-critical notifications and alerts, with information that has typically been exchanged via fax, email or phone. The new service has delivered hundreds of notifications to more than 76,000 email recipients.

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Nearly 134 clients have been signed to the service.

One enhancement of the MF Info Xchange service is the seamless integration with the DTCC Mutual Fund Profile Security Database. Risks associated with manual data entry is minimised and ensures consistency between these services by utilising a single data source.

Additionally, the new service includes the ability of funds to share their projected monthly, quarterly or annual dates for ‘Dividend/Capital Gains’ and ‘Interval/Tender Fund’ activity. Intermediaries can view all consolidated schedules in one place.

A refined audit trail for distributed notifications also increases transparency and reduces risk.

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Morgan Stanley, head of traditional investment products operations, John Corbisiero said: “We are actively using the MF Info Xchange service. The standardisation of the communications has given our organisation a significant lift in managing the notifications and all of the data.

“We have found it to be much more efficient on a daily basis since we no longer need to interpret the data. The calendar with all of the events in one place has also proven to be an added benefit. We look forward to more of our partners participating in this service.”

DTCC managing director and general manager, wealth management services, Ann Bergin said: “Wealth Management Services has a tradition of delivering products which enhance our clients’ efficiency and risk management. MF Info Xchange was developed with the input of an industry working group including DTCC clients and the Investment Company Institute (ICI).

“The response has been overwhelmingly positive and is a testament to the strong collaborative relationship we have had with the ICI committees. We will continue to develop additional functionality to further support evolving industry needs.”