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STA Annual Conference

STA Annual Conference. J . Trezza DTCC, Oct 2007. Agenda. Paperless Legals AccuBasis Cost Basis Tool FAST/DRS Rule Filing DRS Status. Paperless Legals. Paperless Legals. > 99% of all deposit transactions Investor service $$$$$$ No more Paper Legals @ DTC Are you in it?.

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STA Annual Conference

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  1. STA Annual Conference J. Trezza DTCC, Oct 2007

  2. Agenda • Paperless Legals • AccuBasis • Cost Basis Tool • FAST/DRS Rule Filing • DRS Status

  3. Paperless Legals

  4. Paperless Legals • > 99% of all deposit transactions • Investor service • $$$$$$ • No more Paper Legals @ DTC • Are you in it?

  5. AccuBasis

  6. AccuBasis • Cost basis calculations • Stock pricing history • Corporate actions • DRiP • Inexpensive • Investor friendly • Shareholder satisfaction

  7. AccuBasis • Business models • Seat @ table • White label • Link • Integrated • Customized • Revenue • TA, issuer and service providers Aggressive Birds

  8. FAST/DRSSEC Rule Filing I wasn’t in the office when they wrote these! Save me, please… HELP!!!! OUCH! It wasn’t my fault. Don’t hurt me!!!!! I’m innocent I tell ya… Don’t shoot!!! Ouch, that hurts… You got the wrong guy

  9. FAST Filing Objectives • Standardize • Update • Preparation for migration • 100 new agents • 6,000 new issues • Safeguard • Lots of comments

  10. My perspective…. IMF Team

  11. Insurance * Too Expensive * Not a Custodian Exceptions <$25K insurance <$3K infrastructure $600 for safe * Are too! DWAC Black’s Law FAST/DRSMY Perspective

  12. Black’s Law • The keeping, safeguarding, care, watch, inspection, preservation (and) or security of a thing (securities), carrying with it the idea of the thing being within the immediate personal care and control of the person to whose custody it is subjected. • …custodian has the obligation to preserve and safe-keep the property entrusted to her…

  13. DTC won’t pay fees Always have, always will Fee bearing issues Cancellation fee > $7.8 million 2006 DMA Rush transfers Cert/WT rejects DRS rejects Easy to collect Uninformed FAST/DRSMY Perspective

  14. Taken all comments into account Reasonable changes Sought outside, third party perspective Re-file SEC guidance for matters still to be ironed out FAST/DRSMy other observations…

  15. DRS Update

  16. DRS update • > 4,000 eligible issues • 300 statement only • 300 DRS eligible only • < 3,000 to go • Notify DTC • Eligible only and DRS participating • Preferred, warrants, rights, etc. • DTC only shareholder not the same as BEO

  17. DRS Update • SIFMA initiative (handouts in the back) • Overwhelming support: • Pershing • Bear Sterns • Citigroup • NFS (default only) • Project: > 15% reduction in WTs for “08 • Reduction in WTs = reduction in deposits

  18. www.dtcc.com/nomorepaper www.dtcc.com/ProductsAndServices/asset/accubasis

  19. “I’m outta here…”

  20. ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? The mandatory Q & A session!!! ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

  21. Off to the spa

  22. STA Annual Conference J. Trezza DTCC, Oct 2007

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