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® Overview: Part 1

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CNS Fully Paid Input: DataTrak ID 06351 - Y2K Format

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CNS Due Bill Activity MRO: AutoRoute ID 02040786

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CNS Dividend Activity MRO: AutoRoute ID 02040787

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

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CNS Account Summary: AutoRoute ID 02042024

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CNS® Miscellaneous Activity: AutoRoute 02042008 (Night) and 02041236 (Day)

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CNS Seg Exemption Input: DataTrak ID 06121 - Original and Y2K Format

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CNS Buy-In Activity: AutoRoute ID 02040890

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CNS Projection Report: AutoRoute 02042022

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CNS Projection (Midday) CSV: AutoRoute ID 02042366

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CNS Projection (Midday): AutoRoute ID 02042358

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