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  • Are Sample Test Files Available for the Enhanced ETF Output File?

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    Yes. Locate input and output record layout information, including canned test data in the NSCC File Formats for ETF section.You can also download the following links: ETF Historical File Specification Sample Files
  • How Are Cash Amounts Calculated?

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    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...
  • What Does A Header Record Zero Signify For An ETF Fund?

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    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...
  • What Information Is On The Files?

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    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
  • Who Do I Call For Information About NSCC's ETF Process?

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

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    An Exchange Traded Fund (ETF) is a portfolio of securities 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 portfolio constituents, thus automating the creation and redemption of ETF shares...
  • Evolution of ETF Clearing

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    The Depository Trust Clearing Corporation has worked diligently over the past 20+ years to innovate and modernize its range of ETF products and services. On January 22, 1993, DTCC cleared and settled the first trades placed on ETFs. Fast-forward nearly 25 years later, the ETF industry has matured both in terms of product availability and assets under management with the latter continuing to...
  • ETF Basics

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    Are ETFs Regulated? ETFs are regulated by the SEC and were granted exemptive relief under the following acts: The Securities and Exchange Act of 1934 Enables broker/dealers and others to bid and offer shares in the secondary market. The Investment Company Act of 1940 Enables shares to trade on an exchange at prices other than the net asset value (NAV). Enables ETF shares to be redeemed at the...
  • ETF Support Contact Details

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    Contact us: To obtain permission and set up your Exchange Traded Fund (ETF) Web account , contact the super access coordinator (SAC) at your firm. For ETF related issues , contact your relationship manager. For product support issues , contact NSCC Support available at NSCCSupport@dtcc.com . For issues with logging on to the system , contact DTCC Customer Support. Call the following number, and...
  • ETF Benefits

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    NSCC’s ETF process provides the following efficiencies and risk controls around the creation and redemption of ETFs: Provides Members with the ability to select only the portfolios they need for next day’s trading through a web based on-line view. Through this mechanism, Members may down load the portfolio details to an excel spread sheet format. In addition, Members may continue to elect to...
  • Related Products & Services

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    For information about products and services related to Exchange Traded Funds, visit the Universal Trade Capture (UTC) section of this Learning Center.
  • How the ETF Service Works

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    On the day before Trade Date (T-1), Members can view the details of an ETF portfolio composition either through a web-based application or in a data file. The data file also identifies the cash amount in each portfolio and other relevant information. On Trade Date (T), Members can place a creation/redemption order through the Distributor. The Distributor will deliver the order to the ETF Agent,...
  • Who Can Use The Service

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    Any full service NSCC Member that has entered into an Authorized Participant agreement with an ETF Agent and Distributor/Sponsor to become an Authorized Participant can use NSCC’s ETF processing service. While, in some instances, an ETF sponsor may allow a non-clearing firm to become an Authorized Participant, any firm executing a transaction in an ETF through NSCC must either be an NSCC Member...
  • ETF and CNS Processing Facts

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    Facts About Exchange Traded Funds (ETF) ETFs trade on an exchange as an equity NSCC’s ETF process automates the creation and redemption of ETF securities NSCC reports, clears and settles ETFs and its underlining securities through its creation/redemption process ETF processing also includes a nightly distribution of domestic, foreign and fixed income portfolio information Participants can...
  • ETF Types

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    The table below provides details about the types of ETFs in existence as of this writing. ETF Type Notes Index Most common type. Attempts to replicate the performance of a market index, for example, the S&P 500. Daily leveraged or inverse ETFs. Use replication, representative sampling, aggressive sampling. Commodity Invests in commodities (precious metals, futures). Not regulated as investment...
  • ETF Timeline

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    The following tables depict the ETF timeline from T-1 through T+2 (Settlement Day): T-1 Sequence Role Responsibility on T-1 1 Fund Manager/Issuer/Sponsor The fund manager or the issuer sends a portfolio listing file (PLF) to the index receipt agent. 2 Index Receipt Agent (ETF Agent) Sends NSCC a portfolio composition file for each ETF for the following trade day. The following protocols may be...
  • ETF Documents

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    This section is dedicated to Exchange Traded Funds (ETF) NSCC file formats, user guides, historical MRO file specifications, important notices, and sample reports. Login to view all of the content available in the Learning Center. Note : To view the client business requirement and record layouts associated with the 2020 deployment of the PCF enhancements for multiple basket types, see the ETF...
  • ETF Portfolio Data

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    DTCC’s ETF Portfolio Data offering enhances users’ decision-making in the management of Exchange-Traded-Fund (ETF) portfolios with a consolidated, convenient and consistent feed of U.S.-listed ETFs. Login to view all of the content available in the Learning Center.
  • Equities Clearing Learning Center

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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. NSCC Trade Flow The National Securities Clearing...

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PCF Enhancements to Support Multiple Baskets, Order Customization, and Clearance of ETFs with Corporate and Municipal Bond Components (December 21, 2018 #A8657)

As discussed with ETF agents and authorized participants at the  DTCC ETF Industry Working ...
In ETF Important Notices Downloads: 562

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ETF Near Real-Time Create & Redeem Enhancements and Controls Client Testing & Output File Configuration (January 22, 2018 #A8507)

This Notice contains several critical announcements for the ETF Near Real-Time Create/Redeem Enhance ...
In ETF Important Notices Downloads: 1998

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PCF Enhancements to Support Multiple Baskets, Order Customization, and Clearance of ETFs with Corporate and Municipal Bond Components (June 18, 2019 #A8720 / P&S 8295)

As discussed with ETF Agents and Authorized Participants (APs) at the April 11, 2019 ETF Industry Wo ...
In ETF Important Notices Downloads: 659

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PCF Enhancements to Support Multiple Baskets Testing Information (August 22, 2019 #A8738 / P&S P&S 8313)

As previously announced (see Important Notice A8720 on June 18, 2019), NSCC is preparing for Client ...
In ETF Important Notices Downloads: 760

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