Fundplicity
Fundplicity is a multi-currency, global sell-side service offered by Benefit Trust for Transfer Agents (TAs) and Fund Companies (Funds). Fundplicity provides an interface for the Depository Trust & Clearing Corporation's (DTCC's) National Securities Clearing Corporation (NSCC) Fund/SERV, Networking, Mutual Fund Profile (MFP), and Payment aXis platforms in support of funds trading.
These platforms are widely supported by US domestic TAs and Funds as well as US-based buy-side distributors and are an increasingly attractive alternative for non-US domiciled fund companies.
Fundplicity Interfaces
Supported Security Types
NSCC's supported security types include, but are not limited to: mutual funds, bank collective funds, stable value funds, unit investment trusts, money market funds, and separate accounts and funds that can be classified as:
  • Undertakings for Collective Investment in Transferable Securities (UCITS)
  • Investment Company with Variable Capital (ICVC)
  • Authorised Unit Trust (AUT)
  • Société d'Investissement À Capital Variable (SICAV)
Fundplicity is designed to provide a simple yet robust interface for TAs and Funds that want to offer their products for processing via NSCC.
Leveraging DTCC Membership
In addition to providing a NSCC interface for Funds that are members of DTCC, Benefit Trust also offers a fund sponsorship service that allows non-DTCC member Funds to leverage BT's existing DTCC fund membership. This service makes it possible for Funds that are not themselves members of DTCC to offer their securities on the NSCC platform through a sponsorship arrangement with Benefit Trust.
Robust Internet Application
Fundplicity consists of several components, including an Internet-based application that provides TAs and Funds with a transparent view of NSCC processing as well as manual processing capabilities. Major features include:
  • Hierarchal Support for Fund Company and Transfer Agent users
  • Dual Control Approval/Denial (i.e. "Maker/Checker" or "Two-Person Control")
  • Data Entry Screens that allow for manual entry of the following:
    • Confirmations for NSCC Orders and Exchanges via NSCC's Fund/SERV platform
    • Position and Dividend information for reporting via NSCC's Networking platform
    • Prices for reporting via NSCC's Mutual Fund Profile (MFP) platform
    • Fund Deletes via NSCC's Fund/SERV platform
    • Setup information for validation of Orders, Positions, Dividends, Prices, etc.
  • Manual Upload Capability for Confirms, Positions, Prices, Dividends, and Setup
  • Manual Download Capability for Orders and Acknowledgements
  • System Administration for users, Fund/Security profile information, and the setting of validation parameters that enable Fundplicity to process on behalf of the TA/Fund
  • Granular TA User Access to Fund Companies through the use of “Offices”
  • Extensive Reporting
    Fundplicity Reporting
Comprehensive Connectivity
In addition to its proprietary delimited file formats, Fundplicity supports SWIFT ISO 20022 funds messaging in order to facilitate connectivity with TAs and Funds.