VOLUME 22 – BULLETIN #209

The Board of Trade Clearing Corporation is planning to introduce on November 14^th, 2002, several enhancements to the Electronic Shipping Certificate (ESC) System. These enhancements include changes to the certificate registration and cancellation processes and a new preliminary pay/collect reporting function.

With the new process, if the Registrar’s office registers less than the number of requested shipping certificates, the balance will go back to an “Issued” status. This will be reflected in the firm’s delivery inventory screens and the Electronic Shipping Certificate Detail Report (DAR00049). The process of canceling a certificate will become a two-step process requiring the Registrar to accept the cancellation after the Agent firm has requested the cancellation. If the cancellation is not accepted, the certificate will return to the previous status of “Registered” or “Load Out”. Previously, Agent firms could electronically cancel certificates by entering an “X” next to the certificate and would see that the certificate had been removed from inventory overnight.

A new report has been created that will provide preliminary pay/collect charges related to commodity storage fees, thereby increasing the flexibility of firm cash management. The new “Preliminary Storage Charges” report (DAR00057) will be available at 10:00 AM the morning of the first business day prior to the day the pay/collect amount posts to firm accounts. Normally, firms are able to view a snapshot of the preliminary charges as of 10:00 AM on the 17^th calendar day of each month. Any changes or modifications made after the report is generated will affect the actual pay/collect amount that will post to firm accounts the morning of the 18^th calendar day of each month.

The report detail will provide the certificate number and the associated commodity and warehouse, the storage date and the applicable rate in addition to the actual pay/collect amount. Previous reports will be available for a rolling three-month period with an additional three-month history available for recall.

Should you have any questions, please call or email one of the following Client Services and Support Analysts.