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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.


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