The Trade Comparison and Recording Service provides for the processing of equity transactions executed on the American Stock Exchange.

Overview

The Trade Comparison and Recording Service provides for the processing of equity transactions executed on the American Stock Exchange. After the Amex trade data is received, it is validated and then reported to participants on contract output files for reconciliation purposes intra-day. For securities eligible at the depository, the trade data is also forwarded to NSCC's Continuous Net Settlement (CNS) system for settlement as well as risk management systems for risk control.

Who can use the service

The service is available to all NSCC members.

Benefits

The service provides a number of operational advantages:

• Real-time data submission into NSCC from the Amex allows for fast and efficient processing.
  
• Supports industry business continuity and Straight-Through Processing efforts.
  
• Settlement is centralized in NSCC's CNS system for CNS eligible securities.
  
• Intra-day output is reported to participants on the 400-byte universal trade recording machine-readable output. Data is currently reported to participants five times a day. 

How the service works

NSCC accepts trade data as real-time messages. The transactions are transmitted to the clearing corporation from the Amex's Intra-day Comparison System for Equities (IDCE) after they have been either locked-in by the Amex's trading systems or matched within IDCE. The service then validates various trade data elements and reports the trade details to NSCC participants on an intra-day and end-of-day basis. (End-of-day output is only available in a print image format.) The intra-day output is created in a universal format so that all trade data is reported to participants using virtually the same record layout across all domestic marketplaces.
 

For more information:

Please call Relationship Management at 1 888.382.2721.