1. 5877- 1 Welcome to Account Administration Anthony Pietanza, Director – Customer Service Group October 9, 2007

2. 5877- 2 Account Administration “On-Boarding” DTCC “ On- boarding” is defined as the time from application to activation. DTCNSCCFICC GSDMBSD DTCC subsidiaries

3. 5877- 3 Membership Requirements n Applicants receive similar membership package requirements n Membership Requirements Sheet (“MRS”) n Questionnaire n Legal Agreements n AML Requirements n Foreign Entities require enhance due diligence n Various factors affecting type of applicant requirements: n DTCC subsidiary applying for (DTC, NSCC, FICC) n Type of Legal Entity n Services requested

4. 5877- 4 Membership Requirements - Foreign n DTCC’s Office of Corporate & Regulatory Compliance (“OCRC”) performs due diligence to ensure compliance with Anti-Money Laundering requirements n Financials must be in US GAAP n Documentation submitted must be in English n Applicant must obtain written approval from regulator n Must make Tax Withholding Arrangements

5. 5877- 5 Preliminary Application Receipt n Account Administration reviews package n It is assigned to an Account Administration Representative who will work with the applicant regarding the completion of the application, legal documents and forms

6. 5877- 6 Preliminary Application Regulatory Requirements n Is the applicant a duly organized entity? n Is the applicant approved to do the business it is applying for? n Does the applicant have any restrictions? n Does the applicant meet the minimum regulatory requirements (e.g. excess net capital)

7. 5877- 7 Preliminary Application Financial Requirements Each applicant must meet the requirements for the type of service they are applying for. Examples include: n FOCUS Reports n Annual Audited Financials n CALL Reports n Blue Books (Financial Statements)

8. 5877- 8 Legal Documentation and Forms n Applicants are required to execute a number of agreements and forms n Member’s Agreement n Legal Opinion n Special Undertakings Agreement (foreign) n Corporate Resolution and Certificate of Incumbency n Settling Bank Tri-Party Agreement n Tax Forms

9. 5877- 9 Risk Department Review and Approval n An in-depth review is conducted by Credit & Market Risk n Once approved Credit Risk notifies the applicant, the Relationship Manager and Account Administration in writing n Approval letter states: n Fund deposit requirement n Services approved for n Any restrictions

10. 5877- 10 Activation n Prior to activation the following steps must be complete n Approval n Properly executed legal documents and forms n Clearing Fund n Connectivity n Training n MARS

11. 5877- 11 On-Boarding Summary n Preliminary Application Review n Legal Agreements and Forms n Risk/Credit Review n Approval n Activation

12. 5877- 12 Existing Members n Reconsideration of Membership (expansion of business) n Mergers, Acquisitions and Organizational Changes (MAOCs) n If an existing member is changing their form of organization, ownership structure or proposes changes to their business, the member may be required to complete an application for membership n Notification Of Material Changes Is Required

13. 5877- 13 Account Administration – “Day to Day” n Account Administration generates reports and provides daily administrative support to internal departments on existing services. n Important Notices n Internal Notices n Allocation Report/Account Listing n On-Boarding Reports/Monthly New Business Meeting

14. 5877- 14 Members Activating Additional Services “Service Add” Full Service Members can utilize all services Limited Members Limited to those services as specified by Rules Approval Agreement Fund Requirement

15. 5877- 15 Additional Number Requests Additional Number Request Form “Info Sheet” Limited to those services the parent account is approved for SettlementSettlement

16. 5877- 16 M ember O n-line T racking S ystem MOTS is a fully automated Web application for tracking and reporting n On-Boarding All new members across all subsidiaries of DTCC n “Events” Member related activity such as: New Application Settling Bank Changes Additional Accounts Retirement

17. 5877- 17 MOTS MOTS facilitates the coordination of the on-boarding process by providing tools to improve communication n Notifications - email n Milestones – from receipt to approval MOTS provides the ability to cross reference multiple membership events n Linking n MAOC Processing n Report Filter

18. 5877- 18 Account Administration – Q & A