CNS®

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.

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 fully-paid-for, exemption, 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, login 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: 16 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, buy-ins, and fully-paid-for accounts.
  • CNS reports that are used to complete and balance daily settlements.
  • Benefits of using the CNS system.

Video length: 13 minutes

Remember to download a transcript of the webcast through the Resources link in the upper right corner of the player.

CNS Account Summary: AutoRoute ID 02042024

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CNS Balance Order MRO: AutoRoute ID 02040996

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CNS Buy-In Activity: AutoRoute ID 02040890

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CNS Dividend Activity MRO: AutoRoute ID 02040787

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CNS Due Bill Activity MRO: AutoRoute ID 02040786

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CNS Fully Paid Input: DataTrak ID 06351 - Y2K Format

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CNS Intraday ISO 15022 Message Format

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CNS Miscellaneous Activity (Extended) MRO: AutoRoute ID 02040343 (Night) and 02040331 (Day)

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CNS Night Settlement Activity: AutoRoute ID 02042023 (Night) and 02041234 (Day)

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CNS Opening Position Prior to Day Cycle: AutoRoute ID 02040949

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CNS Opening Position Prior to Night Cycle: AutoRoute 02040951

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CNS Projection (Midday) CSV: AutoRoute ID 02042366

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