CNS® Overview

The CNS® system is the core netting, allotting, and fail-control engine of NSCC. Within CNS, each security is netted to one position per participant, with NSCC as its central counterparty (novation). From CNS, you can

  • Search for open CNS positions, including long and short buy-in positions.
  • View the CNS cash balance for your participant account.
  • Add, edit, delete, and search for existing exemptions and priority instructions.

Familiarize yourself with the CNS processes, including

  • How the netting process works.
  • Importance of the Consolidated Trade Summary (CTS) system.
  • One-day settling trade.
  • Distinction between CNS and Non-CNS transactions.
  • Reports used to complete and balance daily settlements.
  • Importance of various report and statements, including: Preliminary Statement, Miscellaneous Activity, Accounting Summary.

To help gain an understanding of the CNS system and processes, log in to view the two-part CNS Overview series.

CNS Overview - Part 1

Welcome to CNS® Overview Part 1, a two-part series View part 1 to obtain an introduction to the CNS system, including:

  • Origins of the CNS system.
  • Importance of CNS and multilateral netting.
  • Flow of trades between brokers.
  • Overview of the netting process and impact of a net position.
  • Difference between long and short positions.
  • Role of DTC.
  • Workings of mark-to-market.

Video length: 15 minutes

CNS Overview - Part 2

Welcome to CNS® Overview Part 2. This part of the two-part series includes:

  • CNS ancillary processes, such as exemptions, priorities, REORGs, dividends, and buy-in accounts.
  • CNS reports that are used to complete and balance daily settlements.
  • Benefits of using the CNS system.

Video length: 18 minutes

CNS Users

Log in, if necessary, to view information about how to access and use the CNS system, which is the core netting, allotting, and fail-control engine of NSCC.

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CNS Technical Resources

View the current NSCC file formats and master files for CNS. Log in, if necessary, to view all of the content available in the Learning Center.

Click to access and download the NSCC file formats for CNS. 

Note: For access to the CNS Projection (Midday) MRO: AutoRoute ID 02042358 and CNS Projection (Midday) CSV: AutoRoute ID 02042366 files, see the UST1 site.

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Click to access and download the CNS master files.

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SMART/Track for CNS Corporate Actions

DTCC’s Securely Managed and Reliable Technology (SMART) is the infrastructure that supports settlement in the U.S. capital markets. SMART connects a nationwide complex of networks, processing centers, and control facilities. Each is highly secured, engineered with multiple independent levels of redundancy, and capable of processing DTCC’s entire clearance and settlement workload.

Log in, if necessary, to learn more about the SMART/Track for CNS Corporate Actions, a web-based system. This system provides automated communication and tracking of corporate action liability notices for securities undergoing voluntary corporate action events. NSCC clearing firms or DTC settling members can leverage the SMART/Track technology to create, send, process, and track broker-to-broker or bank and CNS liability notices through the service. Automated email notifications inform you of when activity occurs. With SMART/Track for CNS Corporate Actions, participants can request displays of voluntary and mandatory reorganization events that have been announced.

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Related Content

For information about SMART/Track for Agency Lending Disclosure, Buy-ins, and Corporate Action Liability Notifications, see SMART/Track Services.

CTS Users

Log in, if necessary, to view information about how to access and use the Consolidated Trade Summary (CTS) system. 

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