Equities Clearing Services

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DTCC's National Securities Clearing Corporation (NSCC) clears and settles virtually all broker-to-broker equity, corporate and municipal bond and unit investment trust (UIT) transactions in the U.S. markets, advancing new initiatives and driving development of products and services that mitigate risk, reduce costs and enhance processing efficiencies for market participants.

Products and Services

ACATS

 

The Automated Customer Account Transfer Service (ACATS) is NSCC’s central processing system for the transfer of customer account assets.

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Bulk Transfer Initiative

 

The Bulk Transfer Initiative streamlines the mass transfer of large quantities of customer accounts and assets from a distressed broker to a more stable broker.

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CNS®

 

The CNS® System is NSCC’s core netting, allotting and fail-control engine.

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CBRS

 

The Cost Basis Reporting Service (CBRS) helps financial firms and other market participants report cost basis information to investors and the federal government.

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ESS

 

Envelope Settlement Service (ESS/IESS) standardizes and controls physical delivery of securities.

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The Fully-Paid-for-Account

 

The Fully-Paid-for-Account is a special sub-account within NSCC’s CNS System that permits Members to use customer fully-paid-for positions to satisfy institutional deliveries in DTC.

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Obligation Warehouse

 

Obligation Warehouse (OW) is a non-guaranteed, automated service that facilitates matching broker-to-broker ex-clearing trades and provides the ability to track, manage and resolve failed obligations in real-time.

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