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If an ID Net Subscriber wanted to terminate their participation in ID Net, the following procedure would apply:

  • A subscriber to the ID Net service will need to submit an ID Net exit notification to DTC’s Account Administration area.
  • Upon receipt of the form, it will be reviewed for all required information and authorization.
  • If acceptable, the appropriate masterfile update will take place that evening at approximately 7 p.m. eastern time.
  • Once the update has occurred, affirmed trades would no longer be routed to ID Net after the masterfile update. If an ID Net Subscriber wanted to exit all the trades it had in ID Net, it could do so.
  • ID Net Firms and ID Net Banks can cancel or exempt their future ID Net transactions where they are the delivering party.
  • ID Net Firms can cancel or exclude their future ID Net transactions where they are the receiving party.
  • An ID Net Firm’s or ID Net Bank’s ID Net receives can also be exited by the Settlement department at DTC by notifying the Settlement Operations department. This request will be processed on a best efforts basis.

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