The Trade Capture and Reporting Service validates and reports equity transactions executed in the US equity markets throughout the trading day. Trades are submitted to DTCC (via NSCC) by an exchange or by a Qualified Special Representatives (QSRs).

Overview

The Trade Capture and Reporting Service validates and reports equity transactions executed in the US equity markets throughout the trading day. Trades are submitted to DTCC, via NSCC, by an exchange or by a Qualified Special Representatives (QSRs). A QSR is a broker/dealer who 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 DTCC and must abide by DTCC's QSR rules and regulations.

DTCC validates and reports equity trades to participants throughout the trading day. Eligible securities are forwarded to DTCC's Continuous Net Settlement (CNS) system where they are novated. Trades ineligible for CNS either settle trade-for-trade or are included in DTCC's multi-lateral net balance order process.

DTCC recently redesigned its Trade Capture and Reporting service to provide participants real-time contract output in one unified format. Participants will have the option of receiving their contract data in a FIX message, a unified output file or in the legacy files provided to participants today.

Who Can Use the Service

All qualified DTCC members are eligible to use the service.

Benefits

The service provides a number of operational advantages:

• DTCC accepts real-time data submissions from US equity markets, providing fast and efficient processing as well as the safe storage of trades.
• Settlement is centralized in DTCC's CNS system for CNS-eligible securities.
• DTCC processes non-standard settlement trades from every market. DTCC must receive cash trades by 11:30 a.m. to be processed in CNS that same day. Cash trades received after 11:30 a.m. are processed trade-for-trade.
• Output is available via real-time FIX 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

DTCC accepts trade data in real-time or in multi-batch files from exchanges and alternative trading systems. The service validates various trade data elements and reports the trade details to DTCC participants.

For More Information

Please call Relationship Management at 800-422-0582.

Disclosure:

DTCC Trade Capture and Reporting, DTCC Continuous Net Settlement (CNS), DTCC multilateral net balance order process are service offerings of NSCC (National Securities Clearing Corporation), a wholly-owned subsidiary of DTCC.