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The MBSD section of the DTCC Learning Center provides information about all of the products and services of the Fixed income Clearning Corporations's Mortgage-Backed Securities Division.

The Mortgage-Backed Securities Division (MBSD) is the sole provider of automated post-trade comparison, netting, electronic pool notification, pool comparison, pool netting and pool settlement services to the mortgage-backed securities market thus providing greater efficiency, transparency and risk mitigation to this specialized market.

What Members Need To Know


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Fixed Income Clearing Corporation (“FICC”) would like to remind the Mortgage Backed Securities Division (“MBSD”) and the Government Securities Division (“GSD”) member firms of the guidelines that should be followed in the event that they are experiencing internal system issues and require an end-of-day extension to submit trade input.

In the event that members are experiencing system issues and require an extension beyond the 8:00 p.m. EST cutoff, please contact the IT Operations Group at 888-382-2721 (option 5-5).

Please note the following important key points:

  • Members must contact the IT Operations Group by 7:30 pm EST to request a trade submission extension.
  • Any request received after 7:30 p.m. EST will be handled on a best efforts basis.
  • Upon request by a member, an automatic extension will be granted for a period of up to 30 minutes through 8:30 p.m. EST.
  • If a member requires an additional 30 minute extension through 9:00 p.m. EST, FICC Operational staff may request additional information (i.e. volume, system status, etc.) in order to assess the request.
  • If FICC Operations agrees to grant an additional 30 minute extension through 9 p.m. EST, an email notice will be sent to all members alerting them of the delay in the transmission of end-of-day output beyond typical distribution timeframes. FICC will send status update alerts to member every 15 minutes thereafter with the estimated timeframe for publishing the end-of-day data output.

If you have any questions, please contact your Relationship Manager.

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As mentioned in Important Notice MBS# 661-19, the Single Security Initiative is a joint initiative between Fannie Mae and Freddie Mac, under the direction of the Federal Housing Finance Agency, to develop a common mortgage-backed security referred to as the Uniform Mortgage-Backed Securities (UMBS). Subject to the Securities and Exchange Commission’s approval, Fixed Income Clearing Corporation (FICC) will accept UMBS for processing through the Mortgage-Backed Securities Division (MBSD) and the Government Securities Division (GSD) (for purposes of GSD GCF Repo® Transactions backed by mortgage-backed securities).

As a reminder, MBSD is currently available for testing with MBSD Clearing Members and EPN-Only Members on the Single Security Initiative.

Testing will be mandatory for all MBSD Clearing Members and EPN-Only Members. Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. to receive a copy of the test script and to sign up for testing.

If a service bureau will be testing on behalf of an MBSD Member, both the service bureau and MBSD Member (i.e., MBSD Clearing Members and EPN-OnlyMembers) are required to notify FICC in advance of the test. This notification should be sent to This email address is being protected from spambots. You need JavaScript enabled to view it.

For MBSD Members that have already completed testing, thank you for your participation. Any MBSD Member that has not signed up or completed testing, please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. as soon as possible to be in conformance with this initiative.

Please contact your Relationship Manager with any questions.

Additional Information

For more information on the Single Security Initiative, please refer to http://www.freddiemac.com/mbs/single-security/ or http://www.fanniemae.com/singlesecurity.

The proposed rule change would amend the Mortgage-Backed Securities Division Clearing Rules, and the Government Securities Division Rulebook.

DTCC offers enhanced access to all important notices via a Web-based subscription service. The notification system leverages RSS Newsfeeds, providing significant benefits including real-time updates and customizable delivery. To learn more and to set up your own DTCC RSS alerts, visit http://www.dtcc.com/subscription_form.php.


To learn more about MBSD products and services, please select a topic that you would like to learn about from the menu located to the left of this article.


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