Fundserv Electronic Processing Agreement

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8. Fundserv also supports client committees and working groups, including clearing house users who deal with issues and develop electronic data and security standards for the industry; Fund/SERV, the solution to this widely recognized industry problem, has been introduced to automate critical back-office operations. Founded in 1986 by DTCC`s National Securities Clearing Corporation (NSCC) subsidiary in collaboration with an industry consortium, Fund/SERV offers the processing capacity and flexibility of the industry to facilitate the growth of fund companies and their industrial partners, including brokers/dealers, banks, insurance organizations and other financial intermediaries. Centralized payment exchange opportunities are for its participants and those who choose to place net orders through the exchange of payments currently performed by a Canadian charter bank through the large value transfer system managed by the Canadian Payments Association. . . .