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Schwab Seeks DTCC Help To Stem Market Timers

Charles Schwab & Co. has asked the Depository Trust and Clearing Co. (DTCC) to add the capacity to automatically process short-term mutual fund redemption fees to Fund/SERV. "We received a concept paper from Charles Schwab, and the next step is to discuss it with the ICI broker/dealer advisory committee," said Karen Gregory, DTCC spokeswoman.

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