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Obligation Warehouse Important Notices

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Approval of Rule Filing (SR-NSCC-2013-11) - OW Pair Off Function (January 9, 2014 - #A7665)  Published Popular #

On January 7, 2014, the Securities and Exchange Commission (“SEC”) approved the rule filing file no. SR-NSCC-2013-11 (“Filing”), which was filed with the SEC by National Securities Clearing Corporation (“NSCC”) on November 14, 2013 pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934, as amended.


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Reminder: Testing the Obligation Warehouse Proposed Pair Off Function (January 7, 2014- #A7664)  Published Popular #

As previously announced in Important Notice, #7739, P&S# 7309, dated November 22, 2013, testing for NSCC’s proposed Obligation Warehouse Pair Off function is in progress. The proposed Pair Off function is more fully described in the proposed rule change filed with the Securities and Exchange Commission on November 14, 2013.1


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Timeline for Testing Obligation Warehouse's Proposed Pair Off Function (Nov 22, 2013 - #A7739)  Published Popular #

As previously announced in Important Notice A# 7684, P&S# 7302, dated August 15, 2013, National Securities Clearing Corporation (“NSCC”) filed a proposed rule change with the Securities and Exchange Commission (“SEC”) which proposes to add a new service to NSCC’s Obligation Warehouse (“OW”) which would pair off and close eligible open obligations, reducing the number of open obligations in OW, as more fully described in the Rule Filing.


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Rule Filing (SR-NSCC-2013-01) -OW Pair Off Function (Nov 14, 2013) (A#7732/P&S#7302)  Published Popular #

On November 14, 2013, National Securities Clearing Corporation (“NSCC”) filed a proposed rule change (SR-NSCC-2013-11) (the “Rule Filing”) with the Securities and Exchange Commission (“SEC”) pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934, as amended. The proposed rule change will add a new service to NSCC’s Obligation Warehouse (“OW”) which would pair off and close eligible open obligations, reducing the number of open obligations in OW, as more fully described in the Rule Filing.


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Obligation Warehouse Proposed to Enhances Service with Pair-Offf Function (August 15, 2013 - A#7684, P&S#7254)  Published Popular #

Subject to required regulatory approval, the National Securities Clearing Corporation (NSCC) is proposing to enhance the Obligation Warehouse (OW) by adding a function that “pair-off” certain eligible Open Obligations in the same CUSIP, and, ultimately, closes those obligations. This proposal provides members with an automated service to help them remove certain Open Obligations from their books and records.


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Obligation Warehouse Phase II Enhancements Release Reminder (April 4, 2013 - #A7613)  Published Popular #

Please be reminded that, as announced in Important Notice A# 7600, P&S# 7170, dated March 8, 2013, the National Securities Clearing Corporation (NSCC) will be implementing into production the Phase II Enhancements for the Obligation Warehouse (OW) on the evening of May 2, 2013, with the first effective date in production on May 3, 2013.


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Obligation Warehouse Phase II Enhancements Release Date Changed to May 2, 2013 (March 8, 2013 - #A7600)  Published Popular #

The National Securities Clearing Corporation (NSCC) will implement into production the Phase II Enhancements for the Obligation Warehouse (OW) on May 2, 2013, which is a delay to the previously announced date in Important Notice A#7564, P&S# 7134, dated January 8, 2013.


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Obligation Warehouse Phase II Enhancements Testing and Production Implementation Timeline (Jan, 08 2013 - #A7564)  Published Popular #

National Securities Clearing Corporation (NSCC) will be adding Phase II Enhancements to its Obligation Warehouse (OW), as previously described in NSCC Important Notice A# 7428, dated May 21, 2012. Pending any unforeseen issues, the OW enhancements will be implemented into production on March 16, 2013, and will be effective on March 18, 2013.


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Obligation Warehouse RECAPS Schedule for 2013 (Dec 18, 2012 - #A7554)  Published Popular #

The 2013 dates for National Securities Clearing Corporation (NSCC)’s monthly Reconfirmation and Re-pricing Service (RECAPS) in the Obligation Warehouse (OW) have been re-scheduled. The second RECAPS of each month will now be held closer to the end of the month, as requested by Members.


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Obligation Warehouse December 7, 2012 RECAPS Test CANCELLED (Nov 27, 2012 - #A7539)  Published Popular #

National Securities Clearing Corporation (NSCC) has cancelled the test for the enhancements to Obligation Warehouse (OW) Re-Pricing and Confirmation Service (RECAPS) that was scheduled for December 7, 2012. An Important Notice will be issued with the dates of the test when it has been rescheduled.


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Year 2012 Obligation Warehouse RECAPS Schedule (Nov 19, 2012 - #A7537)  Published Popular #

The National Securities Clearing Corporation (NSCC) is adding an additional Reconfirmation and Repricing Service (RECAPS) in the Obligation Warehouse (OW) scheduled for Thursday, November 29, 2012 at 6:00 PM ET with completion at close of business. The updated schedule of the remaining dates for NSCC’s monthly RECAPS for 2012.


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CANCELLED: Obligation Warehouse Industry-wide RECAPS Test (November 6, 2012) (A#7526/P&S7096)  Published Popular #

Due to the effects of Superstorm Sandy, National Securities Clearing Corporation has cancelled the first of two previously scheduled industry-wide tests of the Repricing and Confirmation Service (RECAPS), which was scheduled for November 9, 2012, as previously announced in Important Notice A# 7511, P&S# 7081, dated October 23, 2012). The second of these two industry-wide RECAPS test is still scheduled for December 7, 2012.


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Year 2012 Obligation Warehouse Participant Training and Testing (Sept 17, 2012 - #A7488)  Published Popular #

The National Securities Clearing Corporation (NSCC) introduced the Obligation Warehouse (the “OW”) in early 2011 to facilitate the matching of broker-to-broker ex-clearing trades and to provide its Members with the ability to track, manage and resolve their failed obligations in real-time. The OW allows for the matching and maintenance of non-CNS (Continuous Net Settlement) obligations through closure cancelation or settlement.


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Year 2012 Obligation Warehouse 2012 Plans for Enhancements (May 21, 2012 - #A7428)  Published Popular #

The National Securities Clearing Corporation (NSCC) introduced the Obligation Warehouse (OW) in early 2011 to facilitate the matching of broker-to-broker ex-clearing trades and to provide its Members with the ability to track, manage and resolve their failed obligations in real-time. The OW allows for the matching and maintenance of non-CNS (Continuous Net Settlement) obligations through closure, cancelation or settlement.


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Year 2012 Obligation Warehouse Planned Industry Test for RECAPS on June 8, 2012 (May 15, 2012 - #A7426)  Published Popular #

The Obligation Warehouse (OW) service will be conducting an industry-wide test for the Repricing and Confirmation Service, known as RECAPS, on Friday June 8, 2012. Periodically, the OW service has held industry-wide tests for the RECAPS process to allow Members to test new technology. June 8, 2012 will be RECAPS day in the Participant Test (PSE) region for OW. It is recommended that you verify connectivity and access to the PSE regions prior to the test.


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Year 2012 Obligation Warehouse RECAPS Schedule (April 20, 2012 - #A7410)  Published Popular #

As previously announced, the first run of National Securities Clearing Corporation (NSCC)’s Reconfirmation and Re-pricing Service (RECAPS) in the Obligation Warehouse (OW) took place on June 10, 2011. The remaining dates for NSCC’s monthly RECAPS in OW have been scheduled for 2012.


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Year 2012 Obligation Warehouse RECAPS Scheduled (March 26, 2012 - A#7399)  Published Popular #

As previously announced, the first run of National Securities Clearing Corporation (NSCC)’s Reconfirmation and Re-pricing Service (RECAPS) in the Obligation Warehouse (OW) took place on June 10, 2011. The remaining dates for NSCC’s monthly RECAPS in OW have been scheduled for 2012.


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Year 2012 Obligation Warehouse RECAPS Schedule Revised (January 27, 2012 - #A7365)  Published Popular #

As previously announced, the first run of NSCC’s Reconfirmation and Re-pricing Service (RECAPS) in the Obligation Warehouse (OW) took place on June 10, 2011. The remaining dates for NSCC’s monthly RECAPS in OW have been scheduled for 2012.


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Year 2012 Obligation Warehouse RECAPS Schedule (November 29, 2011 - #A7328)  Published Popular #

National Securities Clearing Corporation (NSCC)’s Reconfirmation and Re-pricing Service (RECAPS) now occurs monthly in the Obligation Warehouse (OW).


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Obligation Warehouse - Testing and Introduction of CNS Eligibility Check Planned for August 15, 2011 (June 28, 2011) (A#7234/P&S#6804)  Published Popular #

Obligation Warehouse (OW) was launched in production on March 4, 2011 for all full service Members of National Securities Clearing Corporation (NSCC). A phased implementation plan has been developed for OW to provide Members with an opportunity to incorporate additional functionality into their OW processing.