Equities Clearing Events

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DTCC clears and settles virtually all broker-to-broker equity, listed corporate and municipal bond and unit investment trust (UIT) transactions in the U.S. equities markets, advancing new initiatives and driving development of products and services that mitigate risk, reduce costs and enhance processing efficiencies for market participants.

 

Automated Customer Account Transfer Service (ACATS)

acats landingThe Automated Customer Account Transfer Service (ACATS) is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. ACATS enables participants to efficiently and automatically enter, review, and generate instructions to settle the transfer of customer accounts. Use the menu below to learn more about ACATS.

 

Consolidated Trade Summary (CTS)

cts landingThe Consolidated Trade Summary (CTS) defines the expected settlement path for each transaction received by Universal Trade Capture (UTC) as eligible for the Continuous Net Settlement (CNS) or non-CNS. The CTS is a legacy application which is being re-written for release in mid-2017. Use the menu below to learn more about CTS.

 

  

Continuous Net Settlement (CNS)

CNSThe Continuous Net Settlement (CNS) System is NSCC’s core netting, allotting and fail-control engine. Within CNS, each security is netted to one position per participant, with NSCC as its central counter-party (novation). Use the menu below to learn more about CNS.

 

 

Cost Basis Reporting Service (CBRS)

CBRSThe Cost Basis Reporting Service (CBRS) is an automated system that gives financial firms the ability to transfer customer cost basis information from one firm to another on any asset transfer. Be sure to watch the CBRS Overview webcast to learn about the important features of the CBRS application. Use the menu below to learn more about CBRS.

 

 

DTCC Limit Monitoring

DTCC Limit MonitoringDTCC Limit Monitoring is a risk mitigation tool that leverages the largest aggregate equity trading information in the industry to bring users unprecedented post-trade insights. Leveraging NSCC's role as the central counterparty for the U.S. equities market, DTCC Limit Monitoring provides member firms with near real-time trade information in a centralized and standard method. Use the menu below to learn more about DTCC Limit Monitoring.

 

Exchange Traded Fund (ETF)

ETFAn Exchange Traded Fund (ETF) is a security that trades on an exchange as an equity that seeks to replicate the performance of an index without the need to purchase the underlying components. The NSCC process for clearing ETFs includes the ability to review, either on-line or in a data file, the ETF’s portfolio constituents, thus automating the creation and redemption of ETF shares and their subsequent settlement. Use the menu below to learn more about Exchange Traded Funds (ETF).

 

Obligation Warehouse (OW)

OWObligation Warehouse (OW) is a non-guaranteed, automated service of NSCC that facilitates the matching of broker-to-broker ex-clearing trades and provides Members with the ability to track, manage and resolve their failed obligations in real-time. Use the menu below to learn more about Obligation Warehouse (OW).

 

T+2

T+2Use the link above to visit the T+2 section of the Learning Center where you will find links to resources about the T+2 industry initiative, including Test Cycles, Test Forms, and a T+2 Whitepaper.

 

 

 

Universal Trade Capture (UTC)

UTCUniversal Trade Capture (UTC) is a service that validates and reports equity transactions that are submitted to NSCC by an exchange or by Qualified Special Representatives (QSRs) that is an NSCC Member. Use the menu below to learn more about UTC.

 

 

  • T+2 Testing Counterparty Requests Document

    DTCC will consolidate all Member input submitted via the T+2 Testing Counterparty Request form into ...
    In T+2 Downloads: 33

  • The T+2 Test Approach: Detailed Testing Framework

    The purpose of this paper is to provide DTCC Members with a detailed plan for testing T+2 changes wi ...
    In T+2 Downloads: 349

  • Test CUSIPs For T+2 Industry Testing

    To facilitate Industry testing, DTCC has identified test CUSIPs (“T+2 test CUSIPs”) that ...
    In T+2 Downloads: 71

  • Trade Capture Portal Test Input User Guide

    Universal Trade Capture (UTC) is the primary vehicle for markets and clearing firms to submit transa ...
    In T+2 Downloads: 209

  • CBRS 2017 Holiday Schedule (1/4/2017)

    The Cost Basis Reporting Service (CBRS) will be closed on the following holidays in 2017. No CBRS re ...
    In CBRS Important Notices & Fee Schedule Downloads: 98

  • Consolidated Trade Summary (CTS) - Unexpected Close Test for the Consolidated Trade Summary (CTS) Re-write (12/8/2016)

    As part of the NSCC Member UAT testing of the CTS, an unexpected close event has been scheduled for ...
    In CTS Important Notices Downloads: 107

  • DTCC Limit Monitoring Elimination Of End-Of-Day Participant Position MRO File (November 17, 2016)

    As of December 1st, 2016, DTCC will decommission the ‘DTCC Limit Monitoring - End of Day Parti ...
    In Limit Monitoring Important Notices Downloads: 146

  • Subscriptions To NSCC Inputs And Outputs

    NSCC Test Environments Input & Output Subscription Request Form ...
    In T+2 Downloads: 697

  • ACATS Shortened Cycle Enhancements (10/26/2016 - #A8274)

    NSCC’s Automated Customer Account Transfer Service (ACATS) is planning for the launch, subject ...
    In ACATS Important Notices Downloads: 423

  • Subscriptions To Corporate Actions Inputs And Outputs

    This form contains the instructions for connectivity to Corporate Actions functionality in DTCC&rsqu ...
    In T+2 Downloads: 416

  • Request For Router Exchange Form

    This document should be filled out to request a router exchange form. DTCC will distrubute Router Ex ...
    In T+2 Downloads: 417

  • File Format For The Upload Feature

      ...
    In T+2 Downloads: 314

  • Entitlements Request Form

    This form allows you to request entitlements. ...
    In T+2 Downloads: 379

  • Subscriptions To Omgeo Outputs

    This form contains the directions for requestion new ID instructions. ...
    In T+2 Downloads: 322

  • MQ Page 1 Form

    This form is used to request a NEW MQ channel, modify and existing MQ channel (e.g.: change an IP ad ...
    In T+2 Downloads: 328

  • DTCC Super Access Coordinator Form

    Super Access Coordinator authorization form for DTCC systems, applications, products, and services. ...
    In T+2 Downloads: 431

  • Subscriptions To DTC Inputs And Outputs

    DTC test environmants input and output subscription request form. ...
    In T+2 Downloads: 440

  • DTCC Limit Monitoring Changes To Daily Output (July 21, 2016)

    Effective Monday, August 1st, 2016, NSCC will implement changes to the DTCC Limit Monitoring Risk En ...
    In Limit Monitoring Important Notices Downloads: 125

  • ACATS Enhancements 2016 (07/18/2016 - #A8229)

    Testing for the ACATS 2016 enhancements begins on Friday, September 16, 2016. The first day of produ ...
    In ACATS Important Notices Downloads: 172

  • DTCC Limit Monitoring Elimination of the 50% Alert Level (July 8, 2016)

    On June 3rd, 2016, the Securities and Exchange Commission (“SEC”) approved the rule fili ...
    In Limit Monitoring Important Notices Downloads: 127

  • Consolidated Trade Summary (CTS) - New File Formats Will Replace Legacy Reports, Planned for June 2017 (6/23/2016)

    The National Securities Clearing Corporation (NSCC) is proposing to modernize the Consolidated Trade ...
    In CTS Important Notices Downloads: 262

  • CBRS Phase 6 Production Postponed to July 15, 2016 (06/20/2016)

    The Cost Basis Reporting Service (CBRS) is preparing deployment of CBRS Phase 6 to support the chang ...
    In CBRS Important Notices & Fee Schedule Downloads: 58

  • CBRS Phase 6 Production (06/06/2016)

    The Cost Basis Reporting Service (CBRS) is preparing deployment of CBRS Phase 6 to support the chang ...
    In CBRS Important Notices & Fee Schedule Downloads: 53

  • ACATS DTCC Web Portal Enhancements 2016 (05/17/2016 - #A8201)

    On June 17, 2016, NSCC’s Automated Customer Account Transfer Service (ACATS) introduces severa ...
    In ACATS Important Notices Downloads: 223

  • CBRS Phase 6 Testing (04/19/2016)

    The Cost Basis Reporting Service (CBRS) is preparing participant testing to support the changes on t ...
    In CBRS Important Notices & Fee Schedule Downloads: 46

  • ACATS Enhancements 2016 (04/15/2016 - #A8189)

    This is a follow-up to Important Notice #A8164 (published 2/11/16). Effective Friday, November 4, 20 ...
    In ACATS Important Notices Downloads: 131

  • Participant Services Environment (PSE) Web Portals for Equities Clearing - Change URL (02/19/2016)

    The Depository Trust and Clearing Corporation (DTCC) and DTCC Solutions LLC will be updating the Par ...
    In CBRS Important Notices & Fee Schedule Downloads: 43

  • Participant Services Environment (PSE) Web Portals for Equities Clearing Change URL (02/12/2016)

    The Depository Trust and Clearing Corporation (DTCC) will be updating the Participant Services Envir ...
    In OW Important Notices Downloads: 156

  • ACATS Enhancements 2016 (02/11/2016 - #A8164)

    Effective on or about Friday, November 4, 2016, NSCC’s Automated Customer Account Transfer Ser ...
    In ACATS Important Notices Downloads: 134

  • Rule Filing - SR-NSCC-2015-009 - Obligation Warehouse Fees (12/29/2015)

    Modify Addendum A (Fee Schedule) to adjust fees related to NSCCs ACATS, OW, FundSERV, Insurance and ...
    In OW Important Notices Downloads: 140

  • CBRS 2016 Holiday Schedule (12/29/2015)

    The Cost Basis Reporting Service (CBRS) will be closed on the following holidays in 2016. No CBRS re ...
    In CBRS Important Notices & Fee Schedule Downloads: 48

  • CBRS Phase 6 Announcement (12/17/2015)

    DTCC plans to enhance the Cost Basis Reporting Service (CBRS), to further support the transfer of co ...
    In CBRS Important Notices & Fee Schedule Downloads: 46

  • Consolidated Trade Summary (CTS) - Re-write Canned Output & Updates to the CTS Layouts & Descriptions (12/15/2015)

    The National Securities Clearing Corporation (NSCC) has announced the plans for replacing the legacy ...
    In CTS Important Notices Downloads: 225

  • ACATS Fund/SERV Enhancements (10/27/2015 - #A8106)

    Effective February 29, 2016, NSCC’s Wealth Management Services (WMS) implements an enhancement ...
    In ACATS Important Notices Downloads: 198

  • CBRS Phase 5 Production (10/21/2015)

    The Cost Basis Reporting Service (CBRS) is scheduled to migrate the changes to align with the publis ...
    In CBRS Important Notices & Fee Schedule Downloads: 50

  • CBRS Phase 5 Testing (09/14/2015)

    The Cost Basis Reporting Service (CBRS) is preparing to make changes to align with the recently publ ...
    In CBRS Important Notices & Fee Schedule Downloads: 52

  • ACATS Enhancements 2015 (08/20/2015 - #A8070)

    Several new enhancements will be offered to NSCC’s Automated Customer Account Transfer Service ...
    In ACATS Important Notices Downloads: 198

  • Testing Available for Obligation Warehouse Web (08/17/2015)

    The National Securities Clearing Corporation (NSCC) is migrating to Microsoft Internet Explorer vers ...
    In OW Important Notices Downloads: 119

  • Year 2016 Obligation Warehouse RECAPS Schedule (08/11/2015)

    The dates for NSCC’s monthly Reconfirmation and Re-pricing Service (RECAPS) have been schedule ...
    In OW Important Notices Downloads: 181

  • CBRS Phase 5 Update (05/08/2015)

    As previously announced in DTCC Solutions Important Notice, # CBRS002.2015, dated April 16, 2015; th ...
    In CBRS Important Notices & Fee Schedule Downloads: 44

  • DTCC Limit Monitoring Enhancments - Unassigned Risk Entity Drill-Down Screen Re-Activation (04/28/2015)

    As previously noted in Important Notice A#7934, P&S#7509, dated November 21, 2014, DTCC deac ...
    In Limit Monitoring Important Notices Downloads: 102

  • CBRS Phase 5 Announcement (04/16/2015)

    The Cost Basis Reporting Service (CBRS) will be making changes to align with the recently published ...
    In CBRS Important Notices & Fee Schedule Downloads: 44

  • ACATS Reversal Testing - Additional Testing Dates Added (03/30/2015 - #A8006)

    In Important Notice A#7869 P&S#7439, NSCC announced the participant testing of the ACATS rev ...
    In ACATS Important Notices Downloads: 125

  • ACATS Settling Location and Reason Modification (03/26/2015 - #A8007)

    In the effort to improve usability and efficiency in the Automated Customer Account Transfer Service ...
    In ACATS Important Notices Downloads: 126

  • DTCC Limit Monitoring Enhancements - MRO Output Update (03/19/2015)

    Effective Friday, March 13, 2015, DTCC released additional functionality as a part of its effort to ...
    In Limit Monitoring Important Notices Downloads: 116

  • CBRS Enhancement Affects Tax Lot Input Record (03/16/2015)

    The Cost Basis Reporting Service (CBRS) will be enhancing the Tax Lot Input Record layout to add con ...
    In CBRS Important Notices & Fee Schedule Downloads: 47

  • DTCC Limit Monitoring Enhancements - March 2015 (03/06/2015)

    Effective Friday, March 13, 2015, DTCC will release the following enhancements to DTCC Limit Monitor ...
    In Limit Monitoring Important Notices Downloads: 130

  • Reclaim Processing Now Available for Banks (02/19/2015 - #A7984)

    In response to client requests and DTCC’s continuing effort to bring greater efficiencies to t ...
    In ACATS Important Notices Downloads: 127

  • Revised Schedule for Participant Testing of the Reversal of ACATS Obligations (11/26/2014 - #A7937)

    In Important Notice A#7869/P&S#7439, NSCC announced the participant testing of the ACATS rev ...
    In ACATS Important Notices Downloads: 109

  • DTCC Limit Monitoring Enhancements (11/21/2014)

    As previously noted in Important Notice A#7913, P&S#7483, dated October 16, 2014, DTCC imple ...
    In Limit Monitoring Important Notices Downloads: 114

  • DTCC Limit Monitoring Enhancements (11/17/2014)

    Effective Friday, November 21, 2014, NSCC will implement a new notification type sent to users of th ...
    In Limit Monitoring Important Notices Downloads: 117

  • DTCC Limit Monitoring Enhancements (10/16/2014)

    Starting on October 17, resolution notifications that trading activity has fallen back below thres ...
    In Limit Monitoring Important Notices Downloads: 113

  • Timeline for CBRS Modifications (09/12/2014)

    DTCC’s has made modifications to the file layouts for the Cost Basis Reporting Service (CBRS) ...
    In CBRS Important Notices & Fee Schedule Downloads: 48

  • Implementation of Corporate Action Processing on SMART/Track for CNS Corporate Actions (07/31/2014)

    Members are reminded that on August 8, 2014, NSCC will be implementing enhancements to its CNS corpo ...
    In CNS Corporate Actions Important Notices Downloads: 107

  • Participant Testing of the Reversal of ACATS Obligations (07/17/2014 - #A7869)

    In response to events relating to a close-out in 2008, National Securities Clearing Corporation (&ld ...
    In ACATS Important Notices Downloads: 135

  • Implementation of Corporate Action Processing on SMART/Track for CNS Corporate Actions (06/24/2014)

    In Important Notice A# 7403, P&S# 7833 dated May 5, 2014 the National Securities Clearing Co ...
    In CNS Corporate Actions Important Notices Downloads: 115

  • DTCC Limit Monitoring Email Sign-up Process (06/05/2014)

    As previously announced in Important Notice A#7824, P&S#7394, dated April 24, 2014, NSCC imp ...
    In Limit Monitoring Important Notices Downloads: 115

  • Obligation Warehouse Enhancement to Communication with DTC's IMS Processing (06/04/2014)

    National Securities Clearing Corporation (NSCC)’s Obligation Warehouse (OW) will enhance its c ...
    In OW Important Notices Downloads: 129

  • Reminder Regarding the Elimination of the ACATS Default Pricing Table (06/03/2014 - #A7851)

    In a number of Important Notices posted in 2012, including Important Notice A#7550/P&S#7120, ...
    In ACATS Important Notices Downloads: 113

  • Layout Changes for November Release (06/02/2014)

    DTCC’s modifications of the file layouts for the Cost Basis Reporting Service (CBRS) to furthe ...
    In CBRS Important Notices & Fee Schedule Downloads: 45

  • CNS ACATS and DTC Settling Assets - Addendum Notice (05/19/2014)

    Important Notice 0916-14 outlined the key process changes associated with the May 30th, 2014 impleme ...
    In CNS ACATS DTC Important Notices Downloads: 132

  • Implementation of Optional Dividends on SMART/Track for CNS Corporate Actions (05/08/2014)

    In Important Notice A# 7403, P&S# 7833 dated May 5, 2014 the National Securities Clearing Co ...
    In CNS Corporate Actions Important Notices Downloads: 105

  • DTC Settlement Changes for the CNS ACATS and DTC Settling Assets Project (05/08/2014)

    Beginning on settlement date May 30, 2014, subject to Securities and Exchange Commission (SEC) appro ...
    In CNS ACATS DTC Important Notices Downloads: 305

  • Participant Testing for CBRS Enhancements for Planned Production of July (04/14/2014)

    Participant testing of input and output for the Cost Basis Reporting Service (CBRS) changes to suppo ...
    In CBRS Important Notices & Fee Schedule Downloads: 43

  • Set-up of CNS Exemptions for New Sub-Account (04/10/2014)

    Beginning on settlement date May 30, 2014, subject to Securities and Exchange Commission (SEC) appro ...
    In CNS ACATS DTC Important Notices Downloads: 130

  • DTCC Limit Monitoring Launch Date and Webinars (04/01/2014)

    As previously announced in Important Notice A #7703, P&S #7373 dated March 20, 2014, on Febr ...
    In Limit Monitoring Important Notices Downloads: 120

  • Enhancements to CNS Corporate Action Database - Registration for SMART/Track for CNS Corporate Actions (03/27/2014)

    As previously announced in Important Notice A#7806, P&S# 7376 dated March 24, 2014, the Nati ...
    In CNS Corporate Actions Important Notices Downloads: 120

  • Implementation and Registration for SMART/Track for CNS Corporate Actions (03/24/2014)

    In Important Notice A#7671, P&S# 7341 dated January 28, 2014 the National Securities Clearin ...
    In CNS Corporate Actions Important Notices Downloads: 193

  • DTCC Limit Monitoring Onboarding Timetable (03/20/2014)

    As previously announced in Important Notice A# 7688, P&S# 7358, dated February 24, 2014, DTC ...
    In Limit Monitoring Important Notices Downloads: 138

  • Enhancements to Mutual Fund-Related ACATS (03/17/2014 - #A7700)

    National Securities Clearing Corporation (“NSCC”) is making three enhancements to its Au ...
    In ACATS Important Notices Downloads: 138

  • DTCC Limit Monitoring User Testing (03/04/2014)

    As previously announced in Important Notices #7734, dated November 15, 2013; #7738, dated November 2 ...
    In Limit Monitoring Important Notices Downloads: 127

  • Approval of Rule Filing (SR-NSCC-2013-12) (03/03/2014)

    On February 28, 2014, the Securities and Exchange Commission (“SEC”) approved1 the rule ...
    In Limit Monitoring Important Notices Downloads: 109

  • DTCC Limit Monitoring Onboarding Timetable (02/24/2014)

    As previously announced, subject to regulatory approval, NSCC will provide a risk management tool, D ...
    In Limit Monitoring Important Notices Downloads: 118

  • Obligation Warehouse's Pair Off Function Production Launch on March 7, 2014 (02/13/2014)

    As previously announced in Important Notice A# 7684, P&S# 7302, dated August 15, 2013, Natio ...
    In OW Important Notices Downloads: 117

  • Training on SMART/Track for CNS Corporate Actions - Proposed Enhancements to CNS Corporate Action Database (02/13/2014)

    In Important Notice A#7671, P&S#7341, dated January 28, 2014, the National Securities Cleari ...
    In CNS Corporate Actions Important Notices Downloads: 113

  • NSCC Rule Filing (SR-NSCC-2014-01) - Fee Changes for OW Pair Off Function (02/12/2014)

    On November 14, 2013, National Securities Clearing Corporation (“NSCC”) filed a proposed ...
    In OW Important Notices Downloads: 118

  • Testing in Production Environment for Proposed DTCC Limit Monitoring Risk Management Tool (02/10/2014)

    As previously announced in Important Notices #7734, dated November 15 2013, #7738, dated November 21 ...
    In Limit Monitoring Important Notices Downloads: 115

  • Testing and Production Dates for June 2014 Implementation (02/07/2014)

    This Notice replaces # CBRS002.14, which included changes to the Cost Basis User Master File for Jun ...
    In CBRS Important Notices & Fee Schedule Downloads: 36

  • Enhancements to CNS Corporate Action Database (01/28/2014)

    Subject to approval from the Securities and Exchange Commission (“SEC”) of a proposed ru ...
    In CNS Corporate Actions Important Notices Downloads: 159

  • Testing Obligation Warehouse's Pair Off Function (01/27/2014)

    The 2014 dates for National Securities Clearing Corporation (NSCC)’s monthly Reconfirmation an ...
    In OW Important Notices Downloads: 124

  • Approval of Rule Filing (SR-NSCC-2014-01) - OW Pair Off Function (01/09/2014)

    Subject to required regulatory approval, the National Securities Clearing Corporation (NSCC) is prop ...
    In OW Important Notices Downloads: 132

  • CBRS 2014 Holiday Schedule (01/07/2014)

    The Cost Basis Reporting Service (CBRS) will be closed on the following holidays in 2014. No CBRS re ...
    In CBRS Important Notices & Fee Schedule Downloads: 38

  • Reminder: Testing Obligation Warehouse's Proposed Pair Off Function (01/07/2014)

    As previously announced in Important Notice A# 7665, dated January 9, 2014, the National Securities ...
    In OW Important Notices Downloads: 157

  • Access to DTCC Limit Monitoring Through the Portal (12/05/2013)

    As previously announced in Important Notice A# 7734, P&S#7304 dated, November 15, 2013, on t ...
    In Limit Monitoring Important Notices Downloads: 118

  • DTCC Limit Monitoring Advance Access and Risk-Entity Pre-populating (11/29/2013)

    As previously announced in Important Notice A# 7734, P&S#7304 dated, November 15, 2013, on t ...
    In Limit Monitoring Important Notices Downloads: 121

  • Timeline for Testing Obligation Warehouse's Proposed Pair Off Function (11/22/2013)

    On February 12, 2014, National Securities Clearing Corporation (“NSCC”) filed a proposed ...
    In OW Important Notices Downloads: 111

  • DTCC Limit Monitoring Access and Risk-Entity Pre-populating (11/21/2013)

    As previously announced in the Important Notice A# 7734, P&S# 7304, dated November 15, 2013, ...
    In Limit Monitoring Important Notices Downloads: 105

  • New Settling Location Reason on ACATS Output Record Layouts (11/21/2013 - #A7737)

    In Important Notice A#7556/P&S# 7126 dated December 21, 2012, the National Securities Cleari ...
    In ACATS Important Notices Downloads: 139

  • Participant Testing of the CNS ACATS and DTC Settling Assets Project (11/18/2013)

    In May 2014, subject to Securities and Exchange Commission (SEC) approval, the National Securities C ...
    In CNS ACATS DTC Important Notices Downloads: 140

  • Rule Filing (SR-NSCC-2013-12) - DTCC Limit Monitoring (11/15/2013)

    On November 15, 2013, National Securities Clearing Corporation (“NSCC”) filed a proposed ...
    In Limit Monitoring Important Notices Downloads: 112

  • Rule Filing (SR-NSCC-2013-11) - OW Pair Off Function (11/14/2013)

    As previously announced in Important Notice, A#7739, P&S# 7309, dated November 22, 2013, tes ...
    In OW Important Notices Downloads: 179

  • DTCC Limit Monitoring Webinars and DTCC Learning Center (10/31/2013)

    As previously announced in the Important Notice A#7698, P&S#7268, dated September 12, 2013, ...
    In Limit Monitoring Important Notices Downloads: 107

  • Revised CBRS Record Layouts for June 2014 Enhancements (10/22/2013)

    DTCC plans to change the record layouts for the Cost Basis Reporting Service (CBRS), to further supp ...
    In CBRS Important Notices & Fee Schedule Downloads: 46

  • Year 2014 Obligation Warehouse RECAPS Schedule (10/01/2013)

    On January 7, 2014, the Securities and Exchange Commission (“SEC”) approved the rule fil ...
    In OW Important Notices Downloads: 139

  • Proposed DTCC Limit Monitoring Risk Management Tool (09/12/2013)

    Subject to regulatory approval, NSCC will provide its Members with a risk management tool to monitor ...
    In Limit Monitoring Important Notices Downloads: 112

  • Obligation Warehouse Proposes to Enhance Service With Pair Off Function (08/15/2013)

    As previously announced in Important Notice, #7739, P&S# 7309, dated November 22, 2013, test ...
    In OW Important Notices Downloads: 105

  • Updates to ACATS Fund Registration (FR) Input Record (07/08/2013 - #A7668)

    DTCC is making changes to the list of valid values in the Social Code field on the ACATS Transfer (0 ...
    In ACATS Important Notices Downloads: 130

  • Updates to ACATS Transaction Inquiry Portal Screen (06/10/2013 - #A7647)

    The Depository Trust and Clearing Corporaiton (DTCC) is making changes to the WebDirect Portal ACATS ...
    In ACATS Important Notices Downloads: 135

  • New Settling Location Reason on ACATS Output Record Layouts (06/07/2013 - #A7645)

    In Important Notice A#7556/P&S# 7126, dated December 21, 2012, the National Securities Clear ...
    In ACATS Important Notices Downloads: 143

  • Record Layouts for the CNS ACATS and DTC Settling Assets Project (05/03/2013 - #A7630)

    In Important Notice A#7556/P&S#7126 dated December 21, 2012, the National Securities Clearin ...
    In ACATS Important Notices Downloads: 139

  • Obligation Warehouse Phase II Enhancements Release Reminder (04/04/2013)

    Please be reminded that, as announced in Important Notice A# 7600, P&S# 7170, dated March 8, ...
    In OW Important Notices Downloads: 112

  • Obligation Warehouse Phase II Enhancements Release Date Changed to May 2, 2013 (03/08/2013)

    The National Securities Clearing Corporation (NSCC) will implement into production the Phase II Enha ...
    In OW Important Notices Downloads: 132

  • Documentation Modification to Withhold Indicator Fields - Mutual Funds ACATS, Fund/SERV and Networking (03/01/2013 - #A7592)

    National Securities Clearing Corporation (NSCC) will modify description language in record layouts f ...
    In ACATS Important Notices Downloads: 119

  • Participant Services Environment Availability for Equities Clearance (01/09/2013 - #A7568)

    On January 15, 2013, National Securities Clearing Corporation (NSCC) will re-open the Participant Se ...
    In ACATS Important Notices Downloads: 120

  • Obligation Warehouse Phase II Enhancements Testing and Production Implementation Timeline (01/08/2013)

    National Securities Clearing Corporation (NSCC) will be adding Phase II Enhancements to its Obligati ...
    In OW Important Notices Downloads: 136

  • Requirements for the CNS ACATS and DTC Settling Assets Project (12/21/2012 - #A7556)

    In response to events relating to the close-out of Lehman Brothers in 2008, National Securities Clea ...
    In ACATS Important Notices Downloads: 147

  • Obligation Warehouse RECAPS Schedule for 2013 (12/18/2012)

    The 2013 dates for National Securities Clearing Corporation (NSCC)’s monthly Reconfirmation an ...
    In OW Important Notices Downloads: 119

  • Elimination of ACATS Default Pricing Table (12/14/2012 - #A7550)

    In Important Notice A#7379/P&S#6949 dated February 15, 2012 and Important Notice A# ...
    In ACATS Important Notices Downloads: 128

  • Obligation Warehouse December 7, 2012 RECAPS Test CANCELLED (11/27/2012)

    National Securities Clearing Corporation (NSCC) has cancelled the test for the enhancements to Oblig ...
    In OW Important Notices Downloads: 111

  • Year 2012 Obligation Warehouse RECAPS Schedule (11/19/2012)

    The National Securities Clearing Corporation (NSCC) is adding an additional Reconfirmation and Repri ...
    In OW Important Notices Downloads: 110

  • CANCELLED: Obligation Warehouse Industry-wide RECAPS Test (11/06/2012)

    Due to the effects of Superstorm Sandy, National Securities Clearing Corporation has cancelled the f ...
    In OW Important Notices Downloads: 104

  • Rescheduled Implementation Date - Elimination of ACATS Default Pricing Table (11/06/2012 - #A7528)

    As previously announced in Important Notice A#7505/P&S# 7075 dated October 12, 2012 ...
    In ACATS Important Notices Downloads: 119

  • Elimination of ACATS Default Pricing Table (10/12/2012 - #A7505)

    In Important Notice A#7379/P&S# 6949 dated February 15, 2012, the National Securities Cleari ...
    In ACATS Important Notices Downloads: 131

  • Approval of Rule Filing (SR-NSCC-2012-06) - ACATS Default Pricing Methodology (10/02/2012 - #A7497)

    On September 28, 2012, the Securities and Exchange Commission (“SEC”) approved1 the prop ...
    In ACATS Important Notices Downloads: 113

  • Year 2012 Obligation Warehouse Participant Training and Testing (09/17/2012)

    The National Securities Clearing Corporation (NSCC) introduced the Obligation Warehouse (the “ ...
    In OW Important Notices Downloads: 121

  • Rule Filing (SR-NSCC-2012-06) - ACATS Default Pricing Methodology (08/07/2012 - #A7468)

    On August 7, 2012, National Securities Clearing Corporation (“NSCC”) filed a proposed ru ...
    In ACATS Important Notices Downloads: 124

  • Rescheduled Implementation Date - Elimintation of ACATS Default Pricing Table (06/01/2012 - #A7433)

    As previously announced in Important Notice A#7379/P&S#6949 dated February 15, 2012, subject ...
    In ACATS Important Notices Downloads: 124

  • Year 2012 Obligation Warehouse 2012 Plans for Enhancements (05/21/2012)

    The National Securities Clearing Corporation (NSCC) introduced the Obligation Warehouse (OW) in earl ...
    In OW Important Notices Downloads: 112

  • Year 2012 Obligation Warehouse Planned Industry Test for RECAPS on June 8, 2012 (05/15/2012)

    The Obligation Warehouse (OW) service will be conducting an industry-wide test for the Repricing and ...
    In OW Important Notices Downloads: 99

  • Year 2012 Obligation Warehouse RECAPS Schedule (04/20/2012)

    As previously announced, the first run of National Securities Clearing Corporation (NSCC)’s Re ...
    In OW Important Notices Downloads: 109

  • Year 2012 Obligation Warehouse RECAPS Scheduled (03/26/2012)

    As previously announced, the first run of National Securities Clearing Corporation (NSCC)’s Re ...
    In OW Important Notices Downloads: 116

  • Elimination of ACATS Default Pricing (02/15/2012 - #A7379)

    Subject to approval of a rule filing by the U.S. Securities and Exchange Commission (the “SEC& ...
    In ACATS Important Notices Downloads: 126

  • Year 2012 Obligation Warehouse RECAPS Schedule Revised (01/27/2012)

    As previously announced, the first run of NSCC’s Reconfirmation and Re-pricing Service (RECAPS ...
    In OW Important Notices Downloads: 122

  • Automated Customer Account Transfer Service (ACATS) - Changing Processing Date in the Participant Services Environment (PSE) (01/27/2012 - #A7366)

    In Important Notice A#7358/P&S#6928, dated January 18, 2012, the National Securities Clearin ...
    In ACATS Important Notices Downloads: 114

  • Automated Customer Account Transfer Service (ACATS) - Changing Processing Date in the Participant Services Environment (PSE) (01/18/2012 - #A7358)

    In order to more closely simulate production, the National Securities Clearing Corporation (“N ...
    In ACATS Important Notices Downloads: 99

  • Scheduling Change to Distribution of ACATS Master File (12/21/2011 - #A7341)

    On February 24, 2012, National Securities Clearing Corporation (“NSCC”) will be making a ...
    In ACATS Important Notices Downloads: 110

  • CBRS Fee Schedule

    This document provides a breakdown of the Cost Basis Reporting Service (CBRS) fee schedule, includin ...
    In CBRS Important Notices & Fee Schedule Downloads: 45

  • Year 2012 Obligation Warehouse RECAPS Schedule (11/29/2011)

    National Securities Clearing Corporation (NSCC)’s Reconfirmation and Re-pricing Service (RECAP ...
    In OW Important Notices Downloads: 103

  • NSCC Rule Filing SR-NSCC-2011-07 - Adjustment to ACATS Settlement Timing for Partial Transfers of Mutual Fund Assets (09/28/2011 - #A7291)

    On Monday, September 26, 2011, the U.S. Securities and Exchange Commission approved National Securit ...
    In ACATS Important Notices Downloads: 119

  • NSCC Rule Filing SR-NSCC-2011-07 - Adjustment to ACATS Settlement Timing for Partial Transfers of Mutual Fund Assets (09/13/2011 - #A7285)

    On Monday, September 12, 2011, National Securities Clearing Corporation (“NSCC”) submitt ...
    In ACATS Important Notices Downloads: 115

  • ACATS Participant Service Environment (PSE) Test Accounts 122 and 123 (09/09/2011 - #A7280)

    Due to internal testing purposes, Members are advised NSCC will be suspending the utilization of ACA ...
    In ACATS Important Notices Downloads: 116

  • ACATS Modifications regarding Non-CNS ACATS Mutual Fund Transactions (ACATS Settlement Location 10 - Fund/SERV) (09/09/2011 - #A7279)

    In Important Notice #A7213/P&S#6783 dated May 19, 2011 (Revised June 8, 2011) and Important ...
    In ACATS Important Notices Downloads: 110

  • Mutual Funds Networking, ACATS and ACATS-Fund/SERV Enhancments to Assist in Facilitating the Transfer of Cost Basis Information (07/29/2011 - #A7256)

    Effective December 5, 2011, National Securities Clearing Corporation (NSCC) will implement enhanceme ...
    In ACATS Important Notices Downloads: 110

  • Change in Common Data Transfer System (CDTS) Input End-of-Day Job for Automated Customer Account Transfer Service (ACATS) (07/19/2011 - #A7248)

    The Common Data Transfer Service, or CDTS, is National Securities Clearing Corporation’s (NSCC ...
    In ACATS Important Notices Downloads: 126

  • ACATS Modifications regarding Non-CNS ACATS Mutual Fund Transactions (ACATS Settlement Location 10 - Fund/SERV) (07/13/2011 - #A7244)

    In Important Notice #A7213/P&S#6783 dated May 19, 2011 (Revised June 8, 2011), National Secu ...
    In ACATS Important Notices Downloads: 122

  • Obligation Warehouse - Testing and Introduction of CNS Eligibility Check Planned for August 15, 2011 (06/28/2011)

    Obligation Warehouse (OW) was launched in production on March 4, 2011 for all full service Members o ...
    In OW Important Notices Downloads: 106

  • Obligation Warehouse - Fees Effective July 1, 2011 (06/28/2011)

    Obligation Warehouse (OW) was launched in production on March 4, 2011 for all full service Members o ...
    In OW Important Notices Downloads: 112

  • Rule Filing SR-NSCC-2011-05 - Obligation Warehouse Fees (06/23/2011)

    On Monday, June 20, 2011, National Securities Clearing Corporation (NSCC) submitted rule filing SR-N ...
    In OW Important Notices Downloads: 114

  • Year 2011 Obligation Warehouse RECAPS Schedule (06/23/2011)

    As previously announced, the first run of National Securities Clearing Corporation (NSCC)’s Re ...
    In OW Important Notices Downloads: 96

  • ACATS Modifications regarding Non-CNS ACATS Mutual Fund Transactions (ACATS Settlement Location 10 - Fund/SERV) (05/19/2011 - #A7213)

    Subject to approval from the U.S. Securities and Exchange Commission (“SEC”), National S ...
    In ACATS Important Notices Downloads: 121

  • ACATS Fund Registration (FR) Record Modification (03/11/2011 - #A7179)

    Effective June 13, 2011, National Securities Clearing Corporation (NSCC) will implement the followin ...
    In ACATS Important Notices Downloads: 125

  • Obligation Warehouse Launches (03/03/2011)

    As previously announced in NSCC Important Notice A# 7135, P&S # 6705, dated January 7, 2011, ...
    In OW Important Notices Downloads: 120

  • Enhancements to ACATS Transfers Processed Through CNS (10/19/2010 - #A7081)

    On October 15, 2010, the National Securities Clearing Corporation (“NSCC”) filed a rule ...
    In ACATS Important Notices Downloads: 115

  • Rule Filing SR-NSCC-2010-12 - Technical Correction to ACATS Enhancements (10/18/2010 - #A7078)

    On October 15, 2010, National Securities Clearing Corporation (“NSCC”) filed a proposed ...
    In ACATS Important Notices Downloads: 123

  • Changes to CBRS & ACATS Master File as Results of the CBRS Enhancement Project (10/05/2010 - #A7074)

    The Depository Trust and Clearing Corporation (DTCC) plans to change the current Cost Basis Reportin ...
    In ACATS Important Notices Downloads: 116

  • Implementation Date Change for ACATS Enhancements (09/22/2010 - #A7062)

    National Securities Clearing Corporation (NSCC) has previously announced the addition of a new Autom ...
    In ACATS Important Notices Downloads: 117

  • ACATS - Foreign Asset Extension Modifications - Optional Changes (02/20/2009 - #A6792)

    In its continuing effort to bring greater efficiencies to the Automated Customer Account Transfer Se ...
    In ACATS Important Notices Downloads: 126

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CNS Ancillary Services


To access "Fully Paid For accounts", you need to be able to access DTCC’s Customer portal. If you do not have access, contact your access coordinator and request access to the portal and under available products, “CNS”.

When you have access to the portal, click on “CNS” under Available Production Products.

CNSPortal

Click To Enlarge

 

The Fully Paid For Account is a special subaccount within NSCC's Continuous Net Settlement (CNS) System that assists participants in maintaining compliance with possession and control requirements pursuant to Rule 15(c)3-3 of the Securities Exchange Act.

The Fully Paid For Account allows participants to complete settlement obligations based on anticipated same-issue allocations from CNS. Third-party deliveries for credit through the Institutional Delivery (Omgeo) system are facilitated by this CNS subaccount.

The Fully Paid For Account is available for CNS-eligible equities, corporate bonds, unit investment trusts, rights, and warrants.

 

The Fully Paid For Account is available to all NSCC full-settling members and especially benefits those that serve both retail and institutional client bases.

 

The Fully Paid For Account:

  • Doesn't force you to arrange for "iffy" borrows or to wait for expected allocations and separately process third-party deliveries.
  • Expedites and synchronizes street- and customer-side settlement, facilitating cash-flow planning, and reducing interest and carrying costs.
  • Enhances and maintains the protection of your customer securities.

Brokers who are expecting a receive in CNS of a security may make deliveries of customer securities to third parties. If CNS does not allocate the position, the member may convert the right to receive for value into a right to receive for free. To move positions in and out of these accounts, participants submit instructions to NSCC by mid-morning.

On the money settlement side of the Fully Paid For Account, NSCC debits the participants' money settlement accounts for the current market value of long securities positions moved into the Fully Paid For Account.

These debits are accounted for separately. Thereafter, participants' daily net money settlements are adjusted to reflect price changes through daily marks to the market, until CNS security allocations offset positions in participants' Fully Paid For Accounts.

 

Select Fully Paid For.

CNSApp

Click To Enlarge

 

Complete the required fields.

CNSFullyPaidFor

Click To Enlarge


 

CNS ACATS DTC


No. The changes associated with this project are not optional. If your firm is an ACATS participating broker-dealer, you will have to make these changes.


 

 

CNS Corporate Actions


SMART/Track for CNS Corporate Actions may be accessed via DTCC's Web Portal, formerly known as Web Direct. The URL is https://portal.dtcc.com.

Although SMART/Track for CNS Corporate Actions is part of the SMART/Track for Corporate Action Liability Notification (CALN) Service, it has its own product ID that must be requested in order to gain access to it. The product ID is "CNR" - which stands for "SMART/Track for CNS Corporate Actions."

For access assistance, please contact your internal access coordinator to ensure you have the CNR product. See FAQ #1 to learn where to access CNR.

Yes. Every member of CNS must have at least one staff person from their firm registered for SMART/Track for CNS Corporate Actions. Once implemented, all potential and final liability as well as preliminary and final protect information on a voluntary offer will only be reported to members by NSCC via SMART/Track for CNS Corporate Actions (CNR).

Contact your internal access coordinator for SMART/Track for CNS Corporate Actions. Access coordinators may call 888-382-2721 and select option 5, then option 5. Alternatively, contact your relationship manager.

Contact your internal access coordinator to ensure you possess the proper entitlements for Smart/Track for CNS Corporate Actions. Access coordinators may call 888-382-2721 and select option 5, then option 5. Alternatively, contact your relationship manager.

Information (including terms) about voluntary offers will be available via SMART/Track for CNS Corporate Actions.

NSCC members may call CNS Cashiering at 888-382-2721 option 2, then option 2.

In SMART/Track for CNS Corporate Actions, the CNS reorganization sub-account will be pre-populated; the options available to you are based on the terms of the offer. Generally speaking, the G sub-account will be available for primary offer entitlements while the H sub-account will be available for subsequent offers and/or secondary offer entitlements. Select a sub-account based on your preference.

The standard time to submit instructions on a voluntary offer is from 3:10 p.m. to 6:00 p.m. eastern time on the day prior to the CNS end date for that offer.

The deadline for reducing instructions on a voluntary offer is 12:00 p.m. eastern time on the CNS end date for that offer.

In SMART/Track for CNS Corporate Actions you will be able to view your potential liability via a selection from the main menu.

In SMART/Track for CNS Corporate Actions you will be able to view your final liability via a selection from the main menu.

No. CNS does not know when or if members who have short position(s) will cover their CNS obligations before recycle cutoff.

When a voluntary offer is extended, all elections previously submitted on a long position(s) will become null and void and the new expiration date for that offer will be reflected on SMART/Track for CNS Corporate Actions. Members will be required to re-enter their instructions.

The quantity instructed cannot exceed the total number of shares held in each individual sub-account, inclusive of new trades settling on the next business date. Ultimately, CNS will only accept your liability based on your actual long position held at the close of business on the CNS end date.

You may submit protect instructions for any sub-account provided that you have a long position (or will have a long position) in that sub-account on the day prior to the CNS end date.

No. Any instructions to move shares for a security between CNS sub-accounts (e.g., from Sub-Account A to Sub-Account E) on the CNS end date of a voluntary offer will be rejected by CNS.

Payment may be found on your Miscellaneous Report/MRO and SMART/Track for CNS Corporate Actions.

Generally CNS will set up balance orders three business days prior to the CNS end date of that offer. Balance orders are found on the CNS Night Miscellaneous Activity Report/MRO.

Although SMART/Track for CNS Corporate Actions now offers enhanced processing of voluntary corporate actions, it may be necessary for CNS to issue receive and deliver orders for members to resolve broker to broker.

Receive and deliver orders must be resolved broker to broker. Any receive and deliver orders generated by CNS are reported on your CNS Night Miscellaneous Report/MRO. The passing of liability notifications for non-CNS offers will continue to be processed on the SMART/Track for Corporate Action Liability Notification (CALN) Service as they are today.

 

 

Optional Dividend instructions will now be submitted on a link from the main menu of the SMART/Track for CNS Corporate Actions system. Instructions should no longer be submitted via WINS as they will not be accepted or processed.

Payment in CNS will be allocated concurrently with DTC payment of the optional dividend.

You may continue to view your payments using the CNS Dividend Activity Report/MRO and your CNS Miscellaneous Report/MRO.


 

 

Exchange Traded Fund (ETF)


Additional file details are available in documents available on dtcc.com – follow the link below and click on "ETF" (you may need to scroll down) to reveal/access them.

http://dtcc.com/clearing-services/equities-clearing-services/user-documentation/client-center-formats/file-formats.aspx

Yes. Here and in the ETF Documentation section we provide both a specification document and a text file showing canned test output of the new Enhanced File Layout – 02261256 via the following links:

  pdf 02261256 Enhanced Consolidated Portfolio Composition Output File Layout (211 KB)

  document Single Consolidated PCF Test Data (819 KB)

The ETF agent may submit either the ISIN or SEDOL number. In most instances ETF agents will provide both. If one of the values is not submitted for a component we generate a zero for that component. If the component does not have a registered ISIN or SEDOL number the agent and product sponsor may provide a “dummy” value. NSCC only validates components that are registered as a U.S. security and contains a valid ISIN. Except for that, NSCC does not validate the ISIN or SEDOL number and cannot guarantee its accuracy.

Occasionally, there are ETF portfolios that have components that are experiencing a corporate action and in order to process the portfolio we must derive a user ticker symbol and CUSIP. These user tickers may include ZZZZ’s or XXXX’s at the end of the symbol or contain numerics.

All the cash amounts are submitted to NSCC by the ETF Agents and NSCC redistributes the information to its subscribers. We cannot validate the Issuer, Sponsor or the Agents calculation. However, Key Definitions beyond what is available in our file formats is included in this document. Should you need additional information as to a particular calculation please contact the ETF Agent or Issuer for that particular ETF.

The Portfolio Composition File (PCF) contains the ETF Trading Symbol.

For more information regarding NSCC’s ETF process, please contact Relationship Management at 800-422-0582 or the Customer Support Center Hotline at 888-382-2721.

When NSCC does not receive a component based PCF from the Index Receipt Agent, we use the previous day's PCF and zero out the fund values. All the porfolio header records are zero. The only portfolio header records that are not zero are the CUSIP number and number of components. For Domestic portfolios, this alerts subscribers that the previous business days file will be used should any creation or redemptions occur for the particular ETF.

This is a decision made by the product sponsor and the ETF Agent. Generally, if the basket components are ineligible to clear through DTC they will be noted as an "F" in the Foreign and Domestic Field in the Portfolio Composition File. In the case of ETFs that contain corporate, municipal, mortgage-backed and U.S. Government fixed income securities, they will be almost always on the Portfolio Composition File.

When a new ETF is added to the PCF file you will see a new Portfolio Header (Type 2) that introduces the portfolio. There may be instances where a sponsor and ETF agent provide the portfolio before it has begun trading. When new components are added to an ETF's portfolio in the PCF file, the Component Record (Type 3) New Security Indicator field will contain an "N."

No - PCFs are distributed the night before trade date (or T-1) and apply to tomorrow’s portfolio.

Virtually every U.S. listed ETF’s portfolio are on the files including the converted HOLDRs product to an ETF structure. Exchange Traded Notes and ETFs that are backed by physical commodities, such as GLD and SLV are unavailable because there isn’t a port folio to distribute.

You may receive files in two ways, either through pulling the data (get) or by DTCC pushing the data to you. Available protocols include:

  • File Transfer Protocol (FTP) “get” of the data via broadband through the Internet.
  • TCPI = FTP push via the Internet (encrypted)
  • TCP = FTP push via DTCC SMART Circuit
  • NDM (Network Data Mover) over DTCC SMART Circuit

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