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Options ETF Clearing Connect
The NSCC ETF Product Management team, in close collaboration with key industry stakeholders, successfully created a dedicated link between NSCC and the OCC. With the Options ETF Clearing Connect initiative, NSCC processes the intake of Create and Redeem orders for ETFs and any underlying securities that are cleared by NSCC and settled by DTC. For those underlying components that are ineligible for clearance through NSCC—such as FLEX options and covered call options—NSCC seamlessly routes these to OCC for clearance and settlement through the dedicated link.
- PSE (Test) in December 5, 2025
- Production in May 15, 2026
Client Business Requirements for Options ETF Clearing Connect
Testing Guidelines for the Options ETF Clearing Connect Release
Enhanced ETF Create and Redeem Instruction Input MRO: DATATRAK Production 11300/PSE 41300
Enhanced Consolidated Portfolio Composition Input Data File: DATATRAK Production 11301/ PSE 41301
Enhanced ETF Create and Redeem Instruction Data Output (MRO): AutoRoute Production 02261254/PSE 02981254
Enhanced Consolidated Portfolio Composition Output File Layout: AutoRoute Production 02261256 / PSE 02981256
Near Real-Time Supplemental PCF AutoRoute Production 02262335/Test 02982335
Create/Redeem Activity Reporting
Create/Redeem Activity Reporting is required by all ETF Agents who submit primary market Create/Redeem order instructions to NSCC. ETF Create/Redeem Activity Reporting data enables NSCC to adequately and appropriately project its liquidity needs (for both the ETF Agent and the Authorized Participant on the orders).
- Production Parallel on March 9, 2026
- Production on March 16, 2026
ETF Create/Redeem Activity Reporting Requirements for DataTrak Production 11200/PSE 41200
ETF Create/Redeem Activity Reporting DATATRAK Production 11200/PSE 41200
ETF Canned Sample for Create/Redeem Activity Reporting DATATRAK Production 11200/PSE 41200
Fund Sub Account/SSI
NSCC has taken action to receive the Fund Sub Account/SSI) from ETF Agents and distribute the details on the ETF Create and Redeem Instruction Data Output (MRO): Prod 02261254/PSE 02981254. View the most up-to-date ETF Create and Redeem Instruction Data Output (MRO): AutoRoute Production 02261254/PSE 02981254 on the ETF Technical Resources page.
- Production on November 14, 2024
ETF Client Business Requirements: Fund Sub Account/SSI
ETF Product Information Form (PIF)