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Create/Redeem Activity Reporting
NSCC plans to launch the ETF Create/Redeem Activity Reporting into Production Parallel on March 9, 2026 and Production on March 16, 2026. Create/Redeem Activity Reporting will be required by all ETF Agents who submit primary market Create/Redeem order instructions to NSCC. ETF Create/Redeem Activity Reporting data enables NSCC to adequately and appropriately project its liquidity needs (for both the ETF Agent and the Authorized Participant on the orders).
ETF Create/Redeem Activity Reporting DATATRAK Production 11200/PSE 41200
ETF Canned Sample for Create/Redeem Activity Reporting DATATRAK Production 11200/PSE 41200
Options Clearing Connect
NSCC plans to launch the ETF Options Clearing Connect into PSE (Test) in November 2025 and Production in March 2026. The NSCC ETF Product Management team, in close collaboration with key industry stakeholders, is creating a dedicated link between NSCC and the OCC. With the Options Clearing Connect initiative, NSCC processes the intake of Create and Redeem orders for ETFs and any underlying securities that are cleared by NSCC and settled by DTC. For those underlying components that are ineligible for clearance through NSCC—such as FLEX options and covered call options—NSCC would seamlessly route these to OCC for clearance and settlement through the new dedicated link.
ETF Client Business Requirements for Options Clearing Connect
Options Clearing Connect Release: Enhanced ETF Create and Redeem Instruction Input MRO: DATATRAK Production 11300/PSE 41300
Options Clearing Connect Release: Enhanced Consolidated Portfolio Composition Input Data File: DATATRAK Production 11301/ PSE 41301
Options Clearing Connect Release: Enhanced ETF Create and Redeem Instruction Data Output (MRO): AutoRoute Production 02261254/PSE 02981254
Options Clearing Connect Release: Enhanced Consolidated Portfolio Composition Output File Layout: AutoRoute Production 02261256 / PSE 02981256
Fund Sub Account/SSI
NSCC successfully launched the ETF Fund Sub Account/Standing Settlement Instruction (SSI) into Production on November 14, 2024. NSCC has taken action to receive the Fund Sub Account/SSI) from ETF Agents and distribute the details on the ETF Create and Redeem Instruction Data Output (MRO): Prod 02261254/PSE 02981254.
ETF Client Business Requirements: Fund Sub Account/SSI
Release: ETF Create and Redeem Instruction Data Output (MRO): AutoRoute Production 02261254/PSE 02981254
ETF Product Information Form (PIF)
ETF T0 Release
NSCC successfully launched Phase 1 (May 2024) and Phase 2 (July 2024) of the T0 Create/Redeem cycle with submission of a Cash Collateral Amount (buffer) and EOD Collateral Cash Adjustment (true-up). Review the following ETF T0 content that reflects the improvements for this release:
Client Business Requirements for Phase 2: T0 Same Day Settling Create/Redeem Cycle With End of Day Cash True-up
Test Guidelines for Phase 2: ETF T0 Same Day Settling Create/Redeem Cycle With End of Day Cash True-up
ETF T0 Release: Enhanced ETF Create and Redeem Instruction Input MRO: DATATRAK Production 11300/PSE 41300
ETF T0 Release: Enhanced ETF Create and Redeem Instruction Data Output (MRO): AutoRoute Production 02261254/PSE 02981254
T+1 Settlement Cycle Release
DTCC accelerated the settlement cycle to T+1 to implement key operational enhancements in May 2024.
NSCC Primary Market Create/Redeem Functional Requirements
T+1: UTC Common Trade FIX Output Format
ETF T+1: UTC Intraday MRO Trade Capture Data Output File: AutoRoute Production 02081673/Test 02981673