The proposed rule change by The Depository Trust Company (DTC), filed with the Securities and Exchange Commission (SEC), aims to update the ClaimConnect Service Guide. This change introduces a new "Claim Upload" function that allows users to submit multiple claims simultaneously, instead of manually entering each claim one by one. Additionally, the update will include clarifying, technical, and administrative changes to ensure the guide remains clear and current, all of which are intended to streamline the processing of cash claims related to securities transactions. DTC believes these improvements will facilitate the accurate and speedy settlement of securities transactions without affecting competition.
Simple Explanation
The Deactivatory Trust Company wants to make it easier and faster for people to handle lots of paperwork related to money deals by letting them upload many forms at once, instead of one at a time, like magic!