The Depository Trust & Clearing Corporation’s Wealth Management Services division this week rolled out a shinier version of its Mutual Fund Profile Service II, DTCC’s repository of databases allowing funds, broker/dealers and other distribution firms to automate and streamline the exchange of information regarding securities, participants and distributions.
The new Profile Security Data Comparison Tool is a web-based extraction feature that pulls data points associated with mutual funds from the Securities and Exchange Commission’s EDGAR database, according to the firm.
“Previously, industry participants relied on manually-entered data which was labor-intensive and prone to delays when there were changes to the data,” stated Josephine Torelli, vice president of Wealth Management Services. “To provide for better data accuracy, we created the Comparison Tool which will give distributor firms quicker access to a fuller and more precise profile of information.”
