Products & Services

Equities Clearance and Settlement

New York Stock Exchange Trade Processing

a service offering 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.

Product Information

Overview
Who can use the service
Benefits
How the service works
For more information

Overview

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

After the NYSE 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
All qualified NSCC members are eligible to use the service.
Benefits
The service provides a number of operational advantages:
Real-time data submission into NSCC from the NYSE 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 six times a day.
How the service works
NSCC accepts trade data as real-time messages. The transactions are transmitted to the clearing corporation after they are matched in the NYSE's Online Comparison System (OCS) or "locked-in" in the New York Trading Systems. 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.

This description is for informational purposes only. This Service is governed by applicable Rules, Procedures, and Service Guides for each DTCC subsidiary, which contain the full terms, conditions, and limitations applicable to this Service.