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BND
PHASING IN NEW BENEFICIAL DISCLOSURE (BND) EFFICIENCIES
The rewrite and upgrade of Strate’s BND system is progressing well, with
phase one scheduled for implementation in June 2009. The first phase involves a
complete rewrite of the current BND system to create a more efficient platform
for processing the beneficiary download. This phase has no impact on the current
BND process, the equity file format or on the market participants. The second
phase of the project will introduce an automated solution for Bonds BND
processing and a phased-in introduction of a daily BND for equities and bonds.
As agreed to by the market, the phased implementation of the daily BND will
begin in September 2009.
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