NSCC Limited Fund Membership Needs Assessment/Verbal Inquiry (Sample)

NSCC Limited Fund Membership Needs Assessment/Verbal Inquiry (Sample)
General Information
1.
Is the candidate formed in the US?
2.
How many years has the membership candidate been in business?
Organizational Structure
1.
Is the candidate, or an affiliate/subsidiary, a Participant/Member of any other DTCC Subsidiary?
Regulatory Information
1.
Who is the candidate’s Primary Regulator?
2.
Has the candidate been approved by its primary regulator to conduct the business for which it is applying?
Business Overview
1.
For which Membership Type is the candidate elligible/will be coming in?
2. Describe the nature and scope of the company’s business, including the types of business the candidate is currently
engaged, (including types of accounts, i.e. retail, proprietary, or institutional) and include what securities/types of assets
(i.e. equities, corporate bonds, mutual funds, alternatives, annuities and insurance products) are supported.
3. Is this application for membership being done for existing business at the candidate’s firm or for new business they
are adding?
Describe:
4. Is application associated with any type of merger, acquisition or other transaction involving an existing DTCC
member firm?
If YES, please describe:
5.
If existing business, does the candidate have operational/trading staff familiar with our NSCC services?
If YES, please describe their resources for handling its clearing operation (i.e. number of operational staff, depth and
experience with regards to NSCC processing).
If NO, will candidate be outsourcing their back office operations to another entity?
If YES, what is the name of the other entity?
(Note: If so, candidate will need to complete additional (provided) paperwork.)
6.
Describe the type of business the candidate would like to process as a NSCC member.
7.
What is the candidate’s average daily trading activity (inter dealer, retail customer or institutional customer)?
Service Selection
WMS NSCC Services:
1.
Fund/SERV?
2.
Networking?
3.
Commission Settlement?
4.
Profile I (Price & Rate)?
5.
Profile I & II?
Connectivity
1. Describe the candidate’s desired method of communication (i.e., Dedicated Circuit, DTCC SMART Dialer, BT
Radianz Network, DTCC Web Direct). (Connectivity options to be explained.)
Membership Target Timeline
1.
What is the candidate’s targeted date for Membership? (Incl. Quarter)
Candidates to be provided with updates related to the following:

The need to set up a relationship with an approved settling bank.

Responsible as Principle (only applicable for Mutual Fund Insurance Broker/Dealer and Insurance Carrier
Approved to do Mutual Funds).

Minimum capital requirements.

Fee schedule.

User documentation on DTCC’s website/Onboarding Learning Center.
Candidates to be provided with a high level overview of the Official Onboarding Process (see Learning Center),
including:

Membership Portal (questionnaire, ability to upload required documents, etc.)

Supporting Documentation (financial statements, etc.).

Legal Documentation (membership Agreement, etc.).

Connectivity Documentation (router forms, access coordinator forms, etc.).

Approval process (approval letter, committee approval if applicable).