Universal Trade Capture (UTC) is a service that validates and reports equity transactions that are submitted to NSCC by an exchange or by Qualified Special Representatives (QSRs) that is an NSCC Member.
Universal Trade Capture validates and reports equity transactions that are submitted to NSCC throughout the trading day by an exchange or by a Qualified Special Representative (QSR) that is an NSCC Member. A QSR is a broker/dealer that operates an automated execution system or clears for a firm that operates an automated trading system and submits locked-in transactions on behalf of itself and/or another broker/dealer. A QSR must be on one side of every transaction submitted to NSCC and is subject to NSCC’s Rules, in particular Procedure IV.
NSCC validates and reports equity trades to participants throughout the trading day. Eligible securities are forwarded to NSCC’s Continuous Net Settlement (CNS) system. Trades ineligible for CNS either settle trade-for-trade or are included in NSCC’s multi-lateral net balance order process.
UTC provides Members with real-time contract output in one unified format. Members may elect to receive contract data in a FIX or MQ message, or a unified output file.
Who Can Use the Service
All qualified NSCC Members are eligible to use the service.
The service provides a number of operational advantages:
- NSCC accepts data submissions from U.S. equity markets in a common input format, providing fast and efficient processing as well as the safe storage of trades.
- Settlement is centralized in NSCC’s CNS system for CNS-eligible securities.
- NSCC processes non-standard settlement trades from every market.
- Output is available via real-time FIX or MQ messages or on an intra-day basis in machine readable output (MRO).
- Equity trade capture and reporting also processes "when issued" trades, "as of" trades, and pink sheet and bulletin board trades.
How the Service Works
UTC provides for processing of a common input record from all marketplaces, validates the transactions, and provides output to Members and SRO’s.
For More Information
For more information regarding UTC, contact Client Support at 1-888-382-2721, Option 5 then Option 1.