The proposed Rule Change will modify fees to selected NSCC product lines. Unless otherwise noted within the rule filing, fee changes will be effective January 2, 2008, for billing in February 2008.

NSCC proposes to establish a policy statement regarding the admission as NSCC Member of entities that are organized in a foreign country and are not subject to U.S. federal or state regulation (foreign entities).

This rule change proposes to modify NSCC's Rules, as necessary, to shorten the account transfer timeframe with respect to certain types of ACATS and ACATS Fund/SERV transfers.

Enhancement to Fixed Income Processing

The rule change (filed pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934) proposes to modify NSCC's Rules and Procedures with regard to how credits are disbursed to Members for settlement purposes.

Restructuring of Rules Relating to Fines

Amendment No. 1 to SR-NSCC-2007-07 (Submitted on December 10, 2007)

Amendment No. 2 to SR-NSCC-2007-07

The proposed rule change consists of a clarification to NSCC's Rules & Procedures with regard to NSCC's ability to receive transaction data from trade reporting facilities that are facilities of a self-regulatory organization.

The proposed rule change would make technical and updating changes to NSCC's procedures regarding its Reconfirmation and Pricing Service.

The proposed rule change would enable NSCC to cease to charge fees for Covered Services in Omnibus Accounts to the CDS Clearing and Depository Services, Inc. (CDS) in exchange for CDS agreeing not to charge NSCC for such services.