IFT Fund Transfers

DTCC tx102, Day 1/Day 2, and Same-Day Cancel

ACORD Transaction Creation (tx102)

Fund Transfer uses a tx102 transaction.

Attached to this document is the DTCC excel. Reference the 102 RQ and 102 RS tabs, ACORD Tx102 transaction details (fields required and optional for Fund Transfers).

Day 1 and Day 2 Responses for Fund Transfers

DTCC tx102 for Fund Transfer is a synchronous process, and it differs from the existing tx105 and tx107 processes, which are synchronous.

Here is a summary of the workflow differences from tx105 and tx107:

• Forms/Submit
  • Workflows with wet signed forms upload will not be Phase 1 because tx102 does not support attachments.
    • 1 – NGEN, Wet Signature & Approval
      • This won’t be a Phase 1 workflow because tx102 does not support attachments.
    • 2 – NGEN, Wet Signature
      • This won’t be a Phase 1 workflow because tx102 does not support attachments.
    • DTCC Day 1, Day 2
      • Removed status change to 7/2, Sent/Transmitted to Carrier
      • Has no use in workflow since there is no DTCC asynchronous message confirming request was received.
      • Kept StatusEventCode=185, Submit Success, after the DTCC response message is received.
      • • Kept StatusEventCode=1000300103, Update Received, Update Type: DTCCDay1Confirm.
        • Keeping this code because the carriers do not do anything differently for tx102 vs. tx105/7. Carriers still view this as a Day 1 message.

Submission Error and Retries Logic

The submission error handling and retries logic is different for the synchronous tx102 process, compared to the tx105 and tx107 processes.

• Below is a diagram of the workflow when a submission fails.

• The differences from the tx105/tx107 processing are summarized here:
  • Error Flow
    • Do not check for DTCC ResultCode=5 & ResultInfoCode=200; the code 200 will be handled like any that are not 300 and 600 (see below).
    • Added check for DTCC ResultCode=5 & ResultInfoCode=300 or 600.
      • Because AFFIRM should retry for two ResultInfoCodes:
        • 300 = System Not Available (Carrier states their service is unavailable… AFFIRM should retry)
        • 600 = Unable to Process Transaction at This Time (Could be from DTCC or the Carrier, the data dictionary is not specific, but AFFIRM should retry)
    • A backlog item will be created to update the tx105/tx107 error/retry process to match the tx102 process.

Same day cancellation of Fund Transfer

A Fund Transfer transaction can be canceled via AFFIRM if it is within the same day. The cancellation needs to happen the same day the original transaction was sent.

The cancellation happens from the Inforce Transactions dashboard. The action is available when a Fund Transfer transaction has the status of “Pending Carrier Processing” and it is still the same day as the initial transmission. The results are 1 or 2 (success) or 5 (rejected by DTCC).

Number of Retries setting Applies to All IFT Transactions

There is a subscription called “TryResend105107”. This is used to show the number of retries for a failed 105/107 transmission. The tx102 should use this same value, since it should apply to all IFT transactions for the client.