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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.

CNSThe CNS learning content is designed to familiarize NSCC participants with all the functions of the CNS process. Review CNS learning content to:

  • List all the reports that are used to complete and balance daily settlements.
  • Explain each report, its function, and how it relates to each step in the settlement process.
  • Explain how the netting process works.
  • Explain the importance of the Consolidated Trade Summary (CTS).
  • Explain a one-day settling trade.
  • Distinguish between CNS and Non-CNS transactions.
  • Explain the importance of the Miscellaneous Activity report.
  • Understand the importance of the Preliminary and Final Cash Reconciliation Statements and the Daytime and Nighttime Settlement Activity Reports.
  • Understand the importance of the Final Settlement Statement and the Accounting Summary.

Members should refer to the Rules and Procedures of NSCC and other applicable parties for the legal obligations of all parties concerned. This guide is not intended to serve as a legal document. All brokerage firms and member numbers are fictional and used for illustration only. No statement in this content should be construed as a legally binding rule or regulation, or as creating an obligation on the part of NSCC or any person.

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    SMART/Track for CNS Corporate Actions Help


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    CNS Allocation Priority Order


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    CNS Broker Master File for AutoRoute ID: 02040018


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    CNS Reorganization Master File for AutoRoute ID: 02042251


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    CNS Equity Master File - Production AutoRoute ID: 02010612


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    CNS Equity Master File - Production AutoRoute ID: 03020150


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    CNS Reports and Statements Guide


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    CNS Equity Master File - Production AutoRoute ID: 02040290


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    CNS Bond Security File for AutoRoute ID 02040254 (Weekly) and 02040257 (Monthly)


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    CNS Dashboard User Guide


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


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    CNS Exemptions


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    CNS Opening Position Prior to Night Cycle: AutoRoute 02040951


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    CNS Opening Position Prior to Day Cycle: AutoRoute ID 02040949


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    CNS Intraday ISO 15022 Message Format


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    CNS Projection (Midday): AutoRoute ID 02042358


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    CNS Projection (Midday) CSV: AutoRoute ID 02042366


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    CNS Projection Report: AutoRoute 02042022


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    CNS Buy-In Activity: AutoRoute ID 02040890


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    SMART/Track for Corporate Action Notification Service User Guide


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


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    Implementation of Corporate Action Processing on SMART/Track for CNS Corporate Actions (07/31/2014)

    Members are reminded that on August 8, 2014, NSCC will be implementing enhancements to its CNS corpo ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 747

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    Implementation of Corporate Action Processing on SMART/Track for CNS Corporate Actions (06/24/2014)

    In Important Notice A# 7403, P&S# 7833 dated May 5, 2014 the National Securities Clearing Co ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 671

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    CNS ACATS and DTC Settling Assets - Addendum Notice (05/19/2014)

    Important Notice 0916-14 outlined the key process changes associated with the May 30th, 2014 impleme ...
    In CNS ACATS DTC Important Notices Downloads: 3579

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    Implementation of Optional Dividends on SMART/Track for CNS Corporate Actions (05/08/2014)

    In Important Notice A# 7403, P&S# 7833 dated May 5, 2014 the National Securities Clearing Co ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 669

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    DTC Settlement Changes for the CNS ACATS and DTC Settling Assets Project (05/08/2014)

    Beginning on settlement date May 30, 2014, subject to Securities and Exchange Commission (SEC) appro ...
    In CNS ACATS DTC Important Notices Downloads: 3941

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    Set-up of CNS Exemptions for New S Sub-Account (04/10/2014)

    Beginning on settlement date May 30, 2014, subject to Securities and Exchange Commission (SEC) appro ...
    In CNS ACATS DTC Important Notices Downloads: 3287

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    Enhancements to CNS Corporate Action Database - Registration for SMART/Track for CNS Corporate Actions (03/27/2014)

    As previously announced in Important Notice A#7806, P&S# 7376 dated March 24, 2014, the Nati ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 842

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    Implementation and Registration for SMART/Track for CNS Corporate Actions (03/24/2014)

    In Important Notice A#7671, P&S# 7341 dated January 28, 2014 the National Securities Clearin ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 680

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    Training on SMART/Track for CNS Corporate Actions - Proposed Enhancements to CNS Corporate Action Database (02/13/2014)

    In Important Notice A#7671, P&S#7341, dated January 28, 2014, the National Securities Cleari ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 834

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    Enhancements To CNS Corporate Action Database – SMART/Track For CNS Corporate Actions (01/28/2014)

    Subject to approval from the Securities and Exchange Commission (“SEC”) of a proposed ru ...
    In SMART/Track for CNS Corporate Actions Important Notices Downloads: 845

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    Participant Testing of the CNS ACATS and DTC Settling Assets Project (11/18/2013)

    In May 2014, subject to Securities and Exchange Commission (SEC) approval, the National Securities C ...
    In CNS ACATS DTC Important Notices Downloads: 3396

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


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    CNS Account Summary: AutoRoute ID 02042024


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


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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 Ancillary Services


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    To access Fully Paid For Accounts, you need to be able to access DTCC’s Customer portal. If you do not have access, contact your access coordinator and request access to the portal and under available products, “CNS”.

    After accessing the portal, click CNS from the Available Production Products.

    CNSPortal

    Click To Enlarge

     

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    Fully Paid For Account: 

    • Special subaccount within NSCC's CNS system that assists participants in maintaining compliance with possession and control requirements pursuant to Rule 15(c)3-3 of the Securities Exchange Act.
    • Allows participants to complete settlement obligations based on anticipated same-issue allocations from CNS. Third-party deliveries for credit through the Institutional Delivery system are facilitated by this CNS subaccount.
    • Available for CNS-eligible equities, corporate bonds, unit investment trusts, rights, and warrants.

     

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    The Fully Paid For Account is available to all NSCC full-settling members and especially benefits those that serve both retail and institutional client bases.

     

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    Fully Paid For Account:

    • Does not force you to arrange for "iffy" borrows or to wait for expected allocations and separately process third-party deliveries.
    • Expedites and synchronizes street- and customer-side settlement, facilitating cash-flow planning, and reducing interest and carrying costs.
    • Enhances and maintains the protection of your customer securities.

    SMART/Track for CNS Corporate Actions


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    Access the SMART/Track for CNS Corporate Actions through MyDTCC portal available at https://portal.dtcc.com/.
    Your access privileges are determined by the permissions established for you by your firm's super access coordinator (SAC) or access coordinator, according to your firm's policies and procedures. Your SAC sets up roles that govern what you can view, access, and modify. For more information, see SMART/Track for CNS Corporate Actions Documents.

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    Although SMART/Track for CNS Corporate Actions is part of the SMART/Track for Corporate Action Liability Notification (CALN) Service, it has its own product ID that must be requested to gain access. The product ID is CNR.

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    Yes. Every member of CNS® must have at least one person from their firm registered to access the SMART/Track for CNS Corporate Actions system. All potential and final liability as well as preliminary and final protect instructions on a voluntary offer is reported by NSCC only to members through the SMART/Track for CNS Corporate Actions system.

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    Use the following NSCC contacts for information about SMART/Track for CNS Corporate Actions and the Web application. You can also contact your DTCC Relationship Manager or obtain general assistance by visiting the DTCC Client Center.

    For...

    Contact...

    Permission to the SMART/Track for CNS Corporate Actions Web application and to set up your account

    Your super access coordinator (SAC) at the firm. For SAC that need access to the system, contact Registration Support Group at This email address is being protected from spambots. You need JavaScript enabled to view it..

    Setup and testing

    NSCC Integration by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

    SMART/Track for CNS Corporate Actions related issues

    Your relationship manager.

    Issues with logging on to the system

    DTCC Client Support. Call the following number, and then follow the prompt for product support.

    Ÿ For US and Canada, call 1 888–382–2721.

    Ÿ For the UK, Europe, and Asia, call +1 212–855–8099.

    Production support issues

    NSCC Support by email at This email address is being protected from spambots. You need JavaScript enabled to view it.

    Product support and login questions

    DTCC Data Services Client Center at 1-800-253-2488. Once connected, follow the voice prompts to obtain the assistance for your particular issue.

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    Contact your firm's SAC or access coordinator to ensure you are set up with the proper entitlements for the Smart/Track for CNS Corporate Actions system. Access coordinators can review the Granting Access to Your Users topic in the SMART/Track for CNS Corporate Actions Help.

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    NSCC members can call Client Support at 1 888-382-2721, and then follow the prompt for product support.

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    Information, including terms, about the voluntary offers is available through the SMART/Track for CNS Corporate Actions system. For more information about the system, see SMART/Track for CNS Corporate Actions Help.

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    In the SMART/Track for CNS Corporate Actions system, the CNS reorganization subaccount is prepopulated. The options available to you are based on the terms of the offer. Generally speaking, the G subaccount is available for primary offer entitlements while the H subaccount is available for subsequent offers, secondary offer entitlements, or both. Select a subaccount based on your preference.

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    You can add, adjust, or cancel instructions for a voluntary or mandatory reorganization event from approximately 3:15 P.M. to 6:00 P.M. Eastern Time on the day before the CNS end of protect date and from 7:00 A.M. to 12:00 P.M. Eastern Time on the end of protect date for the offer.

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    The deadline for reducing instructions on a voluntary offer is 12:00 P.M. Eastern Time on the CNS end date for that offer.

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    From the SMART/Track for CNS Corporate Actions system, you can view your potential liability through a selection from the main menu. For more information about how to access the system, see SMART/Track for CNS Corporate Actions Documents.

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    No. CNS does not know when or if members who have short positions cover their CNS obligations before recycle cutoff.

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    When a voluntary offer is extended, all elections previously submitted on long position become null and void. The new expiration date for that offer is reflected in the SMART/Track for CNS Corporate Actions system. Members are required to enter their instructions again.

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    The quantity instructed cannot exceed the total number of shares held in each individual sub-account, inclusive of new trades settling on the next business date. Ultimately, CNS accept only your liability based on your actual long position held at the close of business on the CNS end date.

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    You can submit protect instructions for any subaccount provided that you have a long position or will have a long position in that subaccount on the day prior to the CNS end date.

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    No. CNS rejects any instructions to move shares for a security between CNS subaccounts, such as from subaccount A to subaccount E, on the CNS end date of a voluntary offer.

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    View payment details from the CNS Miscellaneous Activity MRO report and from the SMART/Track for CNS Corporate Actions system.

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    Generally, CNS sets up balance orders three business days prior to the CNS end date of that offer. View your balance orders from the CNS Miscellaneous Activity: AutoRoute 02042008 (Night) and 02041236 (Day).

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    Although the SMART/Track for CNS Corporate Actions system offers enhanced processing of voluntary corporate actions, it may be necessary for CNS to issue receive and deliver orders for members to resolve broker-to-broker.

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    Receive and deliver orders must be resolved broker-to-broker. Any receive and deliver orders generated by CNS are reported in the CNS Miscellaneous Activity: AutoRoute 02042008 (Night) and 02041236 (Day) report. The passing of liability notifications for non-CNS offers are processed in the SMART/Track for CNS Corporate Actions system.

     

     

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    Submit optional dividend instructions through the SMART/Track for CNS Corporate Actions system. For more information about using the system, see SMART/Track for CNS Corporate Actions Help.

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    Payment in CNS is allocated concurrently with DTC payment of the offer.

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    Payment in CNS are allocated concurrently with DTC payment of the optional dividend.


     

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