DTCC unveils redesign

The Depository Trust & Clearing Corp. has launched a redesign of its service to streamline the process of obtaining fund prospectus information, while expanding its Mutual Fund Profile Service.
The aim is to provide the fund community with an automated, centralized source for reference information, including investment objectives, fee schedules and contingent-deferred sales charge and commission data, the New York-based company said in a statement.
The design of the service is based on searching filings by management company, share class, fund portfolio and security identifier.
The design of the service allows funds to feed data into at one level and automatically relate the information to other relevant levels, eliminating the need for data entry and reducing the risk of errors, the company said.