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DTCC Expands Licensing Tool Access

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The Depository Trust & Clearing Corp. says it will be opening an agent appointment system to all distributors that use DTCC transaction data.

The DTCC, New York, one of the companies that run the computer and communications systems that support the financial system, began offering insurance carriers and distributors an automated producer Licensing & Appointments tool, or LNA tool, in 2001.

The new LNA Access program will make automated agent appointment services available to distributors with DTCC “data-services only” memberships as well as to distributors that use the money settlement services run by the DTCC’s National Securities Clearing Corp. unit, the DTCC says.

Other DTCC member distributors also can use the LNA Access tool, if they want to use that in addition to the original LNA tool, the DTCC says.

The DTCC began running an LNA Access pilot program test in May. The pilot program included 15 carriers and 9 distributors, the DTCC says.


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