Internet Dealer Commissions: Commission Structure for Dealers

  1. Automated File Delivery System
  2. Commission Data Generation and Distribution
  3. 24/7 Access to Commission Data
  4. SS&C Technologies IDC Department
  5. Central Administrative Hub
  6. Approval Process for Access
  7. Download of Commission and Trailers Data
  8. Manual and Automated Download Options
  9. Encryption and Authentication
  10. Naming Conventions for Files
  11. Record Layouts and Field Descriptions

Automated File Delivery System

The Internet Dealer Commissions (IDC) system is an automated file delivery system that allows dealers to access commission and trailers data. This system is designed to streamline the process of commission distribution and provide dealers with easy access to their commission information.

Commission Data Generation and Distribution

The commission data is generated by the record keeping platform of the respective product companies. Once the data is generated, it is distributed by SS&C Technologies, a leading provider of financial services software and solutions.

24/7 Access to Commission Data

Dealers have 24/7 access to their commission data through the Internet Dealer Commissions website. This means that dealers can access their commission information at any time, from anywhere, as long as they have an internet connection.

SS&C Technologies IDC Department

The Internet Dealer Commissions system is managed by the SS&C Technologies IDC department. This department is responsible for handling technical and non-technical user inquiries related to the system. They serve as a central administrative hub for mutual funds, REITs, and variable annuities.

Central Administrative Hub

The IDC department acts as a central administrative hub for dealers and product companies. They facilitate the communication and coordination between dealers and product companies, ensuring that commission data is accurately and efficiently distributed.

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Approval Process for Access

In order to access the commission data, dealers must go through an approval process. This process involves the respective product company reviewing and approving the dealer's request for access. Once approved, the dealer will be granted access to their commission data.

Download of Commission and Trailers Data

Once access is granted, dealers can download their commission and trailers data from the IDC website. The data is organized based on the authorized financial institution number of the dealer. This ensures that dealers only have access to their own commission data.

Manual and Automated Download Options

Dealers have the option to download their commission data manually or automate the process using an ActiveX control script. The manual download option allows dealers to select and download specific files, while the automated option allows for a more streamlined and efficient download process.

Encryption and Authentication

Security is a top priority for the Internet Dealer Commissions system. All files are encrypted during transit using HTTPS/SSL, ensuring that the data remains secure during transmission. Additionally, users are required to authenticate themselves with a user ID and password before they can access and download their commission data.

Naming Conventions for Files

The commission files follow a specific naming convention to ensure consistency and ease of identification. The naming convention for production files is SYSMTXX.AXXXX.ZIP, where SYSMTXX represents the system identifier, AXXXX represents the authorized financial institution number, and ZIP represents the file format. Resend files follow the same naming convention, but with an 'R' added to differentiate them from the production files. Uncompressed file names follow the convention SYSMTXX.AXXXX.TXT.

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Record Layouts and Field Descriptions

The manual provided by the Internet Dealer Commissions system includes record layouts and field descriptions. These record layouts provide a specific format for organizing the commission data, while the field descriptions provide detailed explanations of each field in the data. This helps dealers understand and interpret the commission data more effectively.

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