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DTCC Wants Record Format To Become A Standard

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NU Online News Service, April 24, 2003, 10:45 a.m. EDT – The Depository Trust & Clearing Corp., New York, says it will encourage annuity issuers and distributors to use its copyrighted layout for annuity application information.

Companies can use the format as a standard free of charge, the DTCC says.

The DTCC contends that adopting the layout as an industrywide standard could help insurers shift to standardized processing systems and streamline annuity distribution.

AnnuityNet Inc., Leesburg, Va., a company that runs a Web-based annuity distribution system, will be adopting the DTCC application layout as its standard method for transmitting data about new business, the DTCC says.


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