The mission of the Data Management Section of the Operations and Technology Society is to integrate advanced technology and communication with operations.
Our focus includes:
- trade clearance and settlement
- information technology
- voice and data communication
Data Management Section of the Operations and Technology Society, in conjunction with various Advisory Groups, is instrumental in promoting uniformity of operational procedures and disseminating procedural and regulatory requirements. The close working relationship with these groups and other SIFMA Societies enables the Data Management Section of the Operations and Technology Society to address the many challenges commonly encountered in our ever-changing industry. Data Management Section of the Operations and Technology Society encourages its members to utilize their expertise and share ideas within the various committees.
Data Management Section of the Operations and Technology Society has three specific goals:
- develop uniform practices and procedures
- promote participation and synergy among members and member organizations
- use technology to continually enhance systems for order entry, execution, clearance, settlement, and other operational areas
Business Procedures Committee
Chaired by: Chuck Winterer, First Clearing LLC
Co-Chair: Jim Lynch, Goldman Sachs Execution & Clearing, L.P.
Communicate and formulate action plans for T+1 issues related to order entry, comparison and settlement
NASD SEC fee trade file now available on Nasdaq Trader web site
Encourage member firms to utilize this file so they can perform reconciliation versus their internal records. Continue to work with the NASD to improve the SEC fee billing methodology.
Work with member firms, the NYSE and NASD to improve the comparison rate for stepout transactions.
Encourage member firms to utilize email for ex-clearing comparison for ineligible securities, replacing the mailing and faxing of comparison notices.
Information Technology Committee
Chaired by: Linda Orlando, Keefe, Bruyette & Woods, Inc.
Co-Chair: Eric Rynar, Merrill Lynch Professional Clearing Corp.
Proactively support T+1/STP initiative (a subcommittee has been formed to focus on these issues).
Continue to promote DTCC's industry-wide glossary.
Keep membership informed on decimalization issues.
Initiate discussions on new and current technology of common interest to members.
Government
The government of the Data Management Section of the Operations and Technology Society is vested in a Governing Committee composed of the Officers and the Executive Committee, each chosen from members in good standing, and employed by a member firm of the Securities Industry and Financial Markets Association.
