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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.

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