Document ID: SEC-2009-0820-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Depository Trust Co.
Posted Date: 2009-06-17T04:00Z

[Federal Register Volume 74, Number 115 (Wednesday, June 17, 2009)]
[Notices]
[Pages 28745-28746]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14191]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60096; File No. SR-DTC-2009-10]

Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
To Establish the Web Inquiry Notification System

June 11, 2009.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\\\ notice is hereby given that on May 22, 2009, The 
Depository Trust Company (``DTC'') filed with the Securities and 
Exchange Commission (``Commission'') the proposed rule change as 
described in Items I, II, and III below, which Items have been prepared 
primarily by DTC. DTC filed the proposed rule change pursuant to 
Section 19(b)(3)(A)(iii) of the Act \2\ and Rule 19b-4(f)(4) thereunder 
\3\\\ so that the proposal was effective upon filing with the 
Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \3\ 17 CFR 240.19b-4(f)4).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change will replace DTC' Participant Inquiry 
Notification System (``PINS'') with a new Web Inquiry Notification 
System (``WINS'') as a means for participants and DTC to communicate 
with each other about records pertaining to various services such as 
dividends, corporate reorganizations, custody services, and securities 
processing.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, DTC included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. DTC has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of such statements.

[[Page 28746]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The proposed rule change establishes WINS, which is a new internet 
browser-based inquiry management system. WINS will replace PINS as the 
function that enables DTC participants to submit inquiries regarding 
their records. WINS will offer many significant improvements over PINS, 
including streamlining the process for participants to submit and to 
monitor inquiries and requests, providing easier navigation and date 
entry,\4\\\ and having a quicker response time. Additionally, WINS will 
provide real-time status updates by e-mail. Participants will receive 
e-mails stating that their inquiry was received, updated, or closed.
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    \4\ There will be a guided drop-down menu for each inquiry type, 
eliminating the need for participants to determine department and 
activity codes.
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    Participants will have the ability to access WINS through the 
Participant Browser System (``PBS''). If a Participant does not have 
access to PBS, then it will access WINS through DTC's public Web site. 
Existing PINS users will be given access to WINS automatically and will 
be able to use their current password. All participant inquiries made 
before the release of WINS will continue to be processed through PINS. 
Participants will be able to view those inquiries through the PINS 
function but will be required to submit all new inquiries through WINS.
    DTC believes that the proposed rule change is consistent with the 
requirements of Section 17A of the Act,\5\ the rules and regulations 
thereunder. DTC states that the proposed rule change enhances an 
existing function to provide DTC participants with greater transparency 
and quicker responses to their inquiries. As such, it is a change to an 
existing function that will not adversely affect the safeguarding of 
securities and funds in DTC's control or custody.
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    \5\ 15 U.S.C. 78q-1.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    DTC does not believe that the proposed rule change will have any 
impact or impose any burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    DTC has not solicited or received written comments relating to the 
proposed rule change. DTC will notify the Commission of any written 
comments it receives.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule changes have become effective upon filing 
pursuant to Section 19(b)(3)(A)(iii) of the Act \6\ and Rule 19b-
4(f)(4) \7\ thereunder because the proposed rule change effects a 
change in an existing service of DTC that (i) does not adversely affect 
the safeguarding of securities or funds in DTC's custody or control or 
for which it is responsible and (ii) does not significantly affect the 
respective rights of DTC or persons using the service. At any time 
within sixty days of the filing of such rule changes, the Commission 
may summarily abrogate such rule changes if it appears to the 
Commission that such action is necessary or appropriate in the public 
interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.

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    \6\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \7\ 17 CFR 240.19b-4(f)(4).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
changes are consistent with the Act. Comments may be submitted by any 
of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml) or
     Send an e-mail to rule-comments@sec.gov. Please include 
File No. SR-DTC-2009-10 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File No. DTC-2009-10. This file number 
should be included on the subject line if e-mail is used. To help the 
Commission process and review your comments more efficiently, please 
use only one method. The Commission will post all comments on the 
Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the proposed rule change that are filed with 
the Commission, and all written communications relating to the proposed 
rule change between the Commission and any person, other than those 
that may be withheld from the public in accordance with the provisions 
of 5 U.S.C. 552, will be available for inspection and copying in the 
Commission's Public Reference Section, 100 F Street, NE., Washington, 
DC 20549, on official business days between the hours of 10 a.m. and 3 
p.m. Copies of such filings also will be available for inspection and 
copying at DTC's principal office and DTC's Web site at http://www.dtc.org/impNtc/mor/index.html. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All submissions should refer to 
File No. DTC-2009-10 and should be submitted on or before July 8, 2009.
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    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-14191 Filed 6-16-09; 8:45 am]
BILLING CODE 8010-01-P