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Effective Friday, April 7, 2000, The Board of Trade Clearing Corporation will enhance the OTIS Delivery System. The new enhancements will replace the requirement for a physical time stamp performed by BOTCC® staff with a confirmation time created through use of the Invoice Preparation Screen. When the selling firm confirms a delivery invoice status it will be marked with a “Confirmed Time”. If a delivery invoice in a confirmed status is unconfirmed by the buying firm it will be marked with both the original “Confirmed Time” and the “Unconfirmed Time”. When the seller reconfirms the updated invoice it will then be marked with the new “Confirmed Time”. (See attached examples.) At 6:00 p.m. all of the confirmed invoices will be automatically distributed to INFOPAC and can also be accessed via BOTCC's web page at http://www.botcc.com under 'Reports at BOTCC'. Access to this version will be provided to the CBOT®’s Office of Investigations and Audits (OIA) for their use in ensuring compliance of the Exchange’s rules and regulations. Confirmed times that appear on the invoices produced at 6:00 p.m. will be used to determine if firms have complied with the invoices deadlines as defined by the CBOT’s regulations. The seller’s version (DAR00030J) will include all invoices regardless of status. The buyer’s version (DAR00030L) will only include invoices that have been placed in a confirmed status by the selling firm before 6:00 p.m. Member firms will still have the option to request invoices online at any time through the OTIS delivery system by selecting “Report Request” in the main menu and further selecting “Selling Invoices” or “Buying Invoices”. Firms that utilize the Delivery Inventory system to produce valid, confirmed invoices will no longer have to provide hard copy invoices to BOTCC for distribution to the buyer and OIA. Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
BOTCC is a registered trademark of the Board of Trade Clearing Corporation CBOT is a registered trademark of the Chicago Board of Trade
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