Products & Services
Clearance and Settlement
Equities Clearance
As the central counterparty for the nation's major exchanges and markets, DTCC clears and settles virtually all broker-to-broker equity, listed corporate and muni bond and UIT trading in the U.S., ensuring capacity, certainty and reliability to handle today's enormous trading volumes.
As the central counterparty for the nation's major exchanges and markets, DTCC clears and settles virtually all broker-to-broker equity, listed corporate and municipal bond and Unit Investment Trust trading in the U.S. through its National Securities Clearing Corporation (NSCC) subsidiary.
While NSCC provides final settlement instructions to its customers each day, the payment and movement of securities ownership occurs at DTCC's subsidiary, The Depository Trust Company (DTC). In addition to NSCC transactions, DTC settles institutional trades, money market instruments and other financial obligations. As DTCC's depository, DTC also eliminates the movement of securities by providing book-entry deliveries, which transfer the ownership of securities electronically.
The Automated Customer Account Transfer Service (ACATS) is a central processing system that provides for the timely transfer of customer accounts among participant financial institutions, including banks and broker/dealers.
With millions of accounts worth billions of dollars routinely transferred from one financial institution to another each year, the fast, efficient delivery of cost-basis information has become an increasingly important service. Customers need this vital information to compute gains and losses for tax purposes, and researching missing cost-basis data is extremely time-consuming and expensive.
The Continuous Net Settlement (CNS) System is an automated book-entry accounting system that centralizes the settlement of compared security transactions and maintains an orderly flow of security and money balances.
Correspondent Clearing Service is a trade-reporting service that processes equity and corporate bond transactions executed by NSCC members (special representatives) on behalf of other participants (correspondents).
Custom Index Shares are Exchange Traded Funds (ETFs) that are based on standard domestic index shares but exclude specified securities for various reasons. NSCC reports on the custom ETFs and their underlying securities through the creation/redemption process initiated by a participant.
Domestic Index Share Processing facilitates the creation and redemption of Index Shares, also known as Exchange Traded Funds (ETFs), in an automated process.
The Equity Commission Bill Service provides an automated facility for the debiting and crediting of commissions of listed equities for NSCC full service members ("NSCC Members") and Floor Brokers ("non-clearing firms").
The Fully-Paid-For Account is a special sub-account within NSCC's Continuous Net Settlement (CNS) System that assists participants in maintaining compliance with possession and control requirements pursuant to Rule 15c3-3 of the Securities Exchange Act.
The Reconfirmation and Pricing Service (RECAPS) is a mandated service for all participants that reconfirms and reprices participants' aged equity, municipal bond, corporate bond, UITs and zero coupon security transactions that have previously failed to settle in NSCC's clearance and settlement system or by other means.
SMART/Track for Agency Lending Disclosure essentially acts as a 'post office' for agency lending disclosure, transmitting the agency lending data files to the designated broker/dealer, but will not edit or validate the data contained with the files.
SMART/Track for Buy-ins is a Web-based system that standardizes and automates the creation, delivery and tracking of buy-in notices for the securities industry, providing a single point of entry for brokers sending or receiving buy-in notices.
The SMART/Track for Corporate Action Liability Notification Service is a Web-based system that enables automated communication and tracking of corporate action liability notices.
SMART/Track for Stock Loan Recalls provides a messaging capability for communicating stock loan recalls between counterparties.
The Stock Borrow Program allows participants to lend NSCC available stocks and fixed income securities from their account at DTC to cover temporary shortfalls in NSCC's Continuous Net Settlement (CNS) System.
The Trade Comparison and Recording Service provides for the processing of equity transactions executed on the American Stock Exchange.
The Foreign Securities Comparison and Netting (FSCN) Service automates the comparison and netting of non-U.S. equity transactions executed by members of National Securities Clearing Corporation (NSCC).
The Trade Comparison and Recording Service provides for the processing of equity transactions executed on the New York Stock Exchange.
The Over-the-Counter (OTC) Comparison service accepts one-sided transactions from NSCC participants and matches buyers and sellers based upon clearing firm, executing market participant ID, CUSIP or trading symbol, share quantity, price and trade date.
The Trade Comparison and Recording Service provides for the processing of domestic and foreign equity transactions executed in the Nasdaq Stock Market and by Qualified Service Representatives (QSRs).
The Trade Comparison and Recording Service provides for the processing of domestic equity and corporate bond transactions from the regional markets as well as exercise and assigned options and expired single stock futures from the Options Clearing Corporations (OCC).
The TradeSuite/CNS Interface for Prime Broker Business is a settlement option that streamlines the processing of Prime Broker trades. The interface, which operates between NSCC and Omgeo, connects NSCC's Continuous Net Settlement (CNS) System with Omgeo's TradeSuite System.
