Corporations looking to finance short-term debt or to raise capital through the issuance of money market instruments (MMI) must contract with Issuing Paying Agents (IPAs) to facilitate these issuances for them. The issuance process is extremely manual and tedious: IPAs are required to submit, track, and perform issuance and corporate actions manually on multiple systems and functions at DTC. This time-consuming procedure is error prone, inefficient, and heavily reliant on spreadsheets.

Automate the Issuance of Money Market Instruments at DTC

Broadridge’s Fixed Income Processing Engine, impact^SM, assists firms acting in an IPA capacity by providing functionality for the issuance of Commercial Paper and Certificate of Deposits at DTC. By utilizing the MMI issuance solution in impact, users with an IPA business can leverage an automated workflow to issue, action, record and reconcile their contracted obligations for new money market issuances.

MMI Issuance Automation Benefits:

• Manage cash flow and meet liquidity requirements with less friction and errors.
• Eliminate complexities and perform issuances from a single-entry point to streamline workflow and reduce operational risks.
• Meet your stakeholder expectations and mitigate reputational risk by leveraging automation to gain better control of your end- to-end workflow.
• Stay proactive and plan your payment obligations in a timely manner.
• Save time and increase efficiencies while performing reconciliations through automated processes.

Key Features

• PIMS Connectivity: Utilize DTCC’s Pre-Issuance Messaging Service (PIMS) from both the IPA and Broker/Dealer entities for issuance details comparison
• MMI Submission: Submit messaging to the Money Market Issuance Transaction Function (MMI) at DTCC to initiate the issuance and deliver the securities
• PAMM Rate Updates: Facilitate rate changes in DTCC’s PAMM (Paying Agent Money Market) application for Floating Rate instruments
• Reconciliations: impact^SM performs reconciliations and produces reports between the two systems for IPA positions, activity and payments, as well for open item maintenance
• Payment Obligation Warning report: Produce a Warning report from impact^SM to notify IPAs of upcoming payables

For additional information, please contact your Broadridge Account Manager.