DTCC Beefs Up Mutual Fund Data Integrity

The Depository Trust & Clearing Corp. on Monday announced improvements to its Mutual Fund Profile Service to improve the value of the data and expand the service’s technological capabilities.

DTCC completed the enhancements with the help of Delta Data Software and the Investment Company Institute’s Profile Steering Committee. The improvements make it easier for users to enter and maintain fund information through upgraded web pages. The entry page, for instance, now includes a data dictionary function that provides definitions and examples for the 250 data points in the database.

Also, instead of asking users to input the data twice in the profile application, the information is automatically populated.

“We are very pleased to play a role in the ongoing enhancements of DTCC’s Profile service,” said Delta Data Chief Executive Officer Don Beck. “Today, Profile delivers the most accurate and cost-effective source of fund information, and we applaud the DTCC and all those who participated in its transformation." 

To date, approximately 19,000 people from 140 fund companies and broker-dealers have used the system.