Pittsburgh-based Access Data Corp. has connected to the Depository Trust & Clearing Corporation's (DTCC) Networking for Standardized Data Reporting (SDR) service as an enhancement to its 22c-2 compliance service. The connection will allow mutual fund clients to access underlying shareholder data held by third party financial intermediaries.

That look through to shareholder data is one of the requirements of the 22c-2 rules that will take effect on October 16. The rules were intended to allow fund firms to track market timers.

Until now, users of Access Data's SalesVision gained access to third party financial intermediary data via the Access Data Exchange network that used private connections with financial intermediary platforms. The connection to DTCC's SDR service will allow SalesVision clients will to collect third party financial intermediary data directly from the financial intermediary platform, or through DTCC's SDR service, depending upon the client's specific data requirements.

"Private intermediary networks, such as data portals for investment advisors, record-keeping systems and trading platforms for retirement plans, and sub-accounting (Pr3) platforms for Broker/Dealers only handle slices of the market. With the combination of the new DTCC SDR interface, as well as the large number of private conduit data sources we already have in place, Access Data can deliver financial intermediary data to clients from all sources," stated Frank Polefrone, senior vice president of Product Development at Access Data.

Access Data also announced the introduction of its FlexWork data workflow tool. That tool will provide "shareholder data on demand" for users of its 22c-2 compliance service. Access Data executives also promises it will provide an automated, standardized and centralized method of requesting and receiving information from the DTCC, as well as via private data sources.  

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