Last year, the Depository Trust & Clearing Corporation (DTCC) got started on modifications to its Fund/SERV and Mutual Fund Profile Service in anticipation of recommendations made by the NASD and Industry Task Force on Breakpoints.

It said the changes would be complete in early 2004, and they've just come in, right on schedule.

Additional data fields have been added to the Mutual Fund Profile Service database. Fund/SERV was updated with a new indicator for funds to alert firms that a better sales charge is being provided to investors.

Later in the year, BIN and TIN fields will be added trade and exchange formats will be changed to ensure that sales loads are stated in percentage terms.

DTCC will also be offering automated creation and updating of fund profiles through an agreement with NewRiver, which has technology to extract and reformat information from the SEC's EDGAR database. DTCC will start populating Mutual Fund Profile's Security database with the data of firms that choose this option in June or July 2004. 

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