Welcome! In this section of the DTCC Learning Center, you can access resources that help you maximize using DTCC’s Equities Clearing offerings. To locate the content that you need, use either Search or select a product below to access user guides, technical specifications, and other supportive resources. Log in to learn more about Equities Clearing products and services.
DTCC clears and settles virtually all broker-to-broker equity, listed corporate and municipal bond, and unit investment trust (UIT) transactions in the U.S. equities markets. DTCC advances new initiatives, drives development of products and services that mitigate risk, reduces costs, and enhances processing efficiencies for market participants.
The Equities Clearing products and services assist you from pre-trade to trade capture, National Securities Clearing Corporation (NSCC) trade processing, and settlement, either through DTC or other settlement locations. NSCC provides clearing, settlement, risk management, central counterparty services, and guarantees completion for certain transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt, American depository receipts, exchange traded fund (ETF), and unit investment trust (UIT) transactions in the U.S. equities markets.
In the following NSCC trade flow, hover over the product name in orange for a brief description, and then click an item to learn more about that Equities Clearing product or service.
Welcome to the ACATS section of the Learning Center! The Automated Customer Account Transfer Service (ACATS) system automates and standardizes procedures for transferring assets in a customer account from one brokerage firm or bank to another. Locate the content that you need by using Search to filter or access Resources to navigate to all of the ACATS content.
Welcome to the CMU RTTM® section of the Learning Center! The Corporate, Municipal, and UIT (CMU) RTTM service is a secure, trade entry management service that incorporates real-time trade matching with robust search capabilities, statistical reporting, and exception processing. Locate the content that you need by using Search to filter or access Resources to navigate to all of the CMU RTTM content.
Welcome to the CNS® section of the Learning Center! The CNS system is the core netting, allotting, and fail-control engine operated by NSCC. It is the standard for clearing and settling equities, fixed income, and other eligible securities at DTC. Locate the content that you need by using Search to filter or access Resources to navigate to all of the CNS content.
Welcome to the Consolidated Trade Summary (CTS) section of the Learning Center! The CTS system defines the expected settlement path for each transaction received by the Universal Trade Capture (UTC) service as eligible for CNS® or non-CNS. Locate the content that you need by using Search to filter or access Resources to navigate to all of the CTS content.
Welcome to the Cost Basis Reporting Service (CBRS) section of the Learning Center! CBRS is an automated system that supports the transfer of cost basis information from one firm to another for any asset transfer. Locate the content that you need by using Search to filter or access Resources to navigate to all of the CBRS content.
Welcome to the ETF Processing section of the Learning Center! Through our Exchange Traded Fund (ETF) process, you can safely and securely move ETFs and their underlying securities through the settlement process for clearing through NSCC. This automated process generates clearance instructions that are validated through Universal Trade Capture (UTC). Locate the content that you need by using Search to filter or access Resources to navigate to all of the ETF content.
Welcome! In this section of the DTCC Learning Center, access resources that you need to maximize your knowledge of NSCC Risk Management.
Welcome to the Obligation Warehouse section of the Learning Center! Obligation Warehouse provides an automated service for matching obligations submitted by members for U.S. securities classified as equities, corporates, or unit investment trusts (UITs). In addition, Obligation Warehouse receives matched trades through Consolidated Trade Summary (CTS). Locate the content that you need by using Search to filter or access Resources to navigate to all of the Obligation Warehouse content.
Welcome to the SFT Clearing section of the Learning Center! The Securities Financing Transaction (SFT) Clearing service provides central clearing for equity lending and borrowing transactions, leveraging the clearing capabilities, risk management, and efficient infrastructure of the DTCC equities clearing subsidiary, National Securities Clearing Corporation (NSCC). Locate the content that you need by using Search to filter or access Resources to navigate to all of the SFT Clearing content.
Welcome to the Trading Relationship Management section of the Learning Center! Learn more about the Trading Relationship Management system.
Welcome to the Universal Trade Capture (UTC) section of the Learning Center! The UTC service validates and reports equity transactions that are submitted to NSCC throughout the trading day by exchange or qualified special representatives (QSRs) that are NSCC members. Locate the content that you need by using Search to filter and view all relevant content or access Resources to navigate to all of the UTC content.