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STA Annual Conference J. Trezza DTCC, Oct 2007 Agenda  Paperless Legals  AccuBasis Cost Basis Tool Cost Basis Tool  FAST/DRS Rule Filing  DRS Status.

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Presentation on theme: "STA Annual Conference J. Trezza DTCC, Oct 2007 Agenda  Paperless Legals  AccuBasis Cost Basis Tool Cost Basis Tool  FAST/DRS Rule Filing  DRS Status."— Presentation transcript:

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2 STA Annual Conference J. Trezza DTCC, Oct 2007

3 Agenda  Paperless Legals  AccuBasis Cost Basis Tool Cost Basis Tool  FAST/DRS Rule Filing  DRS Status

4 Paperless Legals

5  > 99% of all deposit transactions  Investor service  $$$$$$  No more Paper DTC DTC  Are you in it?

6 AccuBasis

7 AccuBasis  Cost basis calculations  Stock pricing history  Corporate actions  DRiP  Inexpensive  Investor friendly  Shareholder satisfaction satisfaction

8 AccuBasis  Business models table table White label White label Link Link Integrated Integrated Customized Customized Revenue Revenue  TA, issuer and service providers service providers Aggressive Birds

9 FAST/DRS SEC Rule Filing Don’t hurt me!!!!! HELP!!!! Save me, please… Don’t shoot!!! OUCH! Ouch, that hurts… I wasn’t in the office when they wrote these! It wasn’t my fault. You got the wrong guy I’m innocent I tell ya…

10 FAST Filing Objectives  Standardize  Update  Preparation for migration migration 100 new agents 100 new agents 6,000 new issues 6,000 new issues  Safeguard  Lots of comments

11 My perspective…. IMF Team

12 FAST/DRS MY Perspective  Insurance *  Too Expensive *  Not a Custodian  Exceptions  <$25K insurance  <$3K infrastructure  $600 for safe *  Are too! DWAC Black’s Law

13  The keeping, safeguarding, care, watch, inspection, preservation (and) or security of a thing (securities), carrying with it the idea of the thing being within the immediate personal care and control of the person to whose custody it is subjected.  …custodian has the obligation to preserve and safe-keep the property entrusted to her…

14 FAST/DRS MY Perspective  DTC won’t pay fees  Always have, always will Fee bearing issues Cancellation fee > $7.8 million 2006 DMA Rush transfers Cert/WT rejects DRS rejects Easy to collect  Uninformed

15 FAST/DRS My other observations…  Taken all comments into account  Reasonable changes  Sought outside, third party perspective  Re-file  SEC guidance for matters still to be ironed out

16 DRS Update

17 DRS update  > 4,000 eligible issues 300 statement only 300 statement only 300 DRS eligible only 300 DRS eligible only  < 3,000 to go  Notify DTC Eligible only and DRS participating Eligible only and DRS participating Preferred, warrants, rights, etc. Preferred, warrants, rights, etc. DTC only shareholder not the same as BEO DTC only shareholder not the same as BEO

18 DRS Update  SIFMA initiative (handouts in the back) Overwhelming support: Overwhelming support: PershingPershing Bear SternsBear Sterns CitigroupCitigroup NFS (default only)NFS (default only)  Project: > 15% reduction in WTs for “08  Reduction in WTs = reduction in deposits

19 Services/asset/accubasis

20 “I’m outta here…”

21 The mandatory Q & A session!!! ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

22 Off to the spa

23 STA Annual Conference J. Trezza DTCC, Oct 2007


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