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  • Settlement Learning Center

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    Settlement, a consolidated end-of-day process and the final step of a securities trade, completes the transfer between trading parties of securities ownership and cash. DTC, the central securities depository subsidiary of DTCC, provides settlement services for virtually all broker-to-broker equity and listed corporate and municipal debt securities transactions in the U.S., as well as...
  • Participant Closing Balances (APIBAL)

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    Each record indicates the closing balance for a specific CUSIP in one of the Participant's DTC accounts. The information received via the APIBAL function may be used to automate both the verification of a Participant's closing balance by CUSIP/Account and the determination of a Participant's position with DTC at the end of the previous business day. To see APIBAL click here .
  • Stock Loan Repo Adjustment Activity (SLRADJ)

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    Some SLRADJ activity will represent actual Stock Loan and Repo adjustments, and some are implicit adjustments resulting from other transactions ( e.g. Deliver Orders). To see SLRADJ click here .
  • Stock Loan/Repo Composite Closing Balances (SLRBLC)

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    SLRBLC enables all DTC Participants to access information concerning the composite balances by security of their Stock Loan and Repo accounts at DTC. The records will be generated for all eligible Participants that have an account balance, and will include data for those accounts that contain a net zero balance. To see SLRBLC click here .
  • Stock Loan/Repo Detailed Closing Balance (SLRBLD)

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    SLRBLD enables all DTC Participants to access information concerning the detailed balances by security and Contra Participant for their Stock Loan/Repo accounts at DTC. To see SLRBLD click here .
  • Fed Funds Settlement / Settling Bank Balances (FFSBST)

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    The FFSBST function will provide Settling Banks with a Legal Entity Settlement balance file. The file will be produced at approximately 4:00 P.M. each day after Final Figures, and will consist of the Bank’s Legal Entity Participant accounts and their corresponding NSCC and DTC settlement balances. A net settlement balance will be provided for each participant along with the participants’ net...
  • Settlement Participant Activity (DTFPART)

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    DTFPART enables you to receive Participant account return transaction information at various times of the business day. To see DTFPART click here .
  • Participant Account Return Payment Order Transaction Information (PARTPO)

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    The PARTPO transmission contains all original and reclaim Security Payment Order (SPO) and Premium Payment Order (PPO) transactions that have been processed by DTC's Settlement System during the business day. To see PARTPO click here .
  • Introduction to Risk Management Controls Inquiry

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    The Risk Management Controls Inquiry (RMCI) function allows you to view the current settlement balance or Risk Management Control-related balances for your collateral group. You can also view your: Settlement Progress Payments (SPP) and Principal & Interest (P&I) available balances Net debit caps Debit peak averages Pending transactions Unapproved transactions
  • About Settling Banks

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    Each participant must choose a settling bank that is also a DTC participant with access to the Fedwire system and NSS (National Settlement Service) to act on its behalf when settling with DTC. DTC further reduces money transfers by netting participant balances at the settling bank level, which allows a settling bank to settle for multiple participants via a single Fedwire instruction rather...
  • About the Netting Process

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    As part of the net-net process, DTC employs a netting procedure with NSCC called cross-endorsement. Under cross-endorsement, each Participant's net debit at one organization is netted against the amount of its net credit, if any, at the other organization. Looking back at the previous example in the Overview of End-of-Day Settlement, if Participant 1 had a net credit of $1 million at NSCC, it...
  • Limitation of Participant Net Debit Caps by Settling Banks

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    A Settling Bank can limit the net debit cap assigned to each Participant it represents. However, the maximum amount set by a Settling Bank cannot exceed the Participant’s system-calculated net debit cap established by DTC. To establish or change the net debit cap for a Participant for which it settles, the Settling Bank must submit a letter of instruction to DTC requesting the amount of the net...
  • Settling Bank Acknowledgement And Refusal Procedures

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    Acknowledgment and Refusal Procedures Each Settling Bank that is the designated Settling Bank for another Participant or for other Participants must use the Settling Bank Acknowledgment function to perform acknowledgment activities promptly after final figures have been posted and by the Acknowledgment Cutoff Time. Once the message 'Final Figures' appears on the Settlement screen, each Settling...
  • Settlement Payment For Net-Net Debit Balances

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    In the event that a Settling Bank has insufficient funds when the NSS file is run, or if Settling Banks must use Fedwire® because NSS in not available, a Settling Bank with a net-net debit settlement balance must fulfill its payment obligation to DTC by the later of 5:00 p.m. eastern time and the time that is one hour after the time that final figures are provided by DTC, except that all such...
  • Untimely Funds Settlement/Failure to Acknowledge Fees

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    If DTC makes a borrowing as a result of the failure of a Settling Bank or Participant to complete timely settlement the Settling Bank or Participant will be charged interest on that borrowing as follows: Interest Rates for Borrowings Made Due to Untimely Payment of Funds Net Debit of Settling Bank or Participant Rate (percent) First $5 million 2.0 Next $20 million 1.5 Next $50 million 1.0 More...
  • Special Procedures Relating to Settling Bank Processing on Behalf of Participants

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    This topic is an Addendum to the End of Day Settlement article Untimely Funds Settlement/Failure to Acknowledge Fees . In addition, the following procedures apply when a Settling Bank does not timely satisfy its settlement balance. Unless these procedures indicate otherwise, each paragraph of these procedures applies whether a Settling Bank’s settlement balance is a net-net credit or a net-net...
  • DTC / NSCC Settling Bank Netting Arrangements

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    This topic is an Addendum to the End of Day Settlement article, Settlement Payment for Net-Net Debit Balances (refer to step 2.) Any settling bank that settles for both participants of DTC and NSCC will have its net-net credit or debit balances at DTC and NSCC aggregated and netted to one consolidated debit amount or credit amount as applicable. DTC shall provide NSCC with services with respect...
  • Settlement Processing Schedule

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    The following table describes the DTC Settlement processing schedule. All times are eastern time (ET). Cutoff Time EST This Occurs 1:15 p.m. DTC's cutoff for syndicate closings. 1:30 p.m. DTC releases all pending delivery account (PDA) positions and reverts to default recycle processing. 2:00 p.m. Cutoff for: Valued MMI issuances. 2:30 p.m. Cutoff for: An Issuing and Paying Agent (IPA) to...
  • Extension Requests

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    DTC cannot grant any Participant an extension of the foregoing deadlines unless a substantial volume of transactions is involved. A Participant should notify DTC as early in the processing day as possible if it thinks it may need to request an input extension. This will allow DTC to discuss alternative methods of input. To request an extension call DTC's Settlement Hotline at 212-855-5800.
  • Benefits

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    The ID Net Service, or “ID Net”, is a service that ultimately benefits all parties involved in institutional trading. ID Net processing: Reduces the aggregate value of settlements system wide through netting efficiencies Presents cost savings for banks and brokers through reduced fees and/or deliveries Increases the certainty of settlement for matched institutional trades Encourages early...

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Night Cycle Reengineering Simulation User Guide

This document describes how to receive a Simulated Optimized Settlement report for the night cycle. ...
In Documentation Downloads: 800

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