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Click on the boxes below to learn about the transaction types and activities that make up the settlement process.
DTC Loss Allocation
Log in to view the two-part DTC Loss Allocation Overview video series to obtain a better understanding of DTC's Loss Allocation practices and how they would be applied in the event of (hypothetical) single-or-multiple-participant default or non-default loss events.
Part 1
DTC Loss Allocation Overview - Part 1 explains DTC's loss allocation practices at a high-level, as they apply to both a defaulting participant and NDL events. We discuss:
- Participant Defaul Loss Allocation (Waterfall)
- Declared Non-Default Loss Allocation (Waterfall)
- Pro Rata Loss Allocation Calculation Process
- 10 Business Day Event Period
- Loss Allocation Rounds and Loss Allocation Caps
- Participant Termination Process
Click to view the 10 minute DTC Loss Allocation Overview - Part 1 video.
Part 2
Continue your journey with DTC Loss Allocation Overview - Part 2 where you explore how DTC's loss allocation practices are applied in the case of (hypothetical) single-and-multi-Participant default and Non-Default Loss events. In Part 2, we review hypothetical examples for:
- Pro Rata Loss Allocation Calculation
- 10 Business Day Event Period
- Loss Allocation Rounds and Loss Allocation Caps
- Participant Termination Process
Click to view the 12 minute DTC Loss Allocation Overview - Part 2 video.
Settlement Web
The Settlement Web is DTC's primary Settlement user interface. Clients have the ability to view their settlement activity as well as to submit transactions to DTC for end of day money settlement.
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Inventory Management System
Manage when and in what order deliveries from your inventory are attempted by using the Inventory Management System, a service offered to deliverers. Inventory is the number of shares you have available to meet your deliveries.
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Settlement: CCF Document Repository
View Settlement technical specification documents outlining the data format required to send and receive data.
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Clearing Fund Management - DTC
Use the Clearing Fund Management system to manage your DTC Participant Funds deposit accounts in real-time.
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SMARTTrack Services
SMART/Track provides a centralized communications hub for the transmission of various message types between clients.
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Settlement Release
DTCC is undertaking a multi-year effort to transform its systems into a more advanced, modular platform.
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Filter resources:
SMART/Track for Buy-Ins User Guide
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DTC Settlement: Overview Webcast
Overview of DTC Settlement Processing which will list the requirement, how transactions are recorded and how Settlement occurs at DTC.
Money Market Instrument (MMI) Issuances and Maturities
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Settlement: Settlement Participant Activity (DTFPART) Function User’s Guide
DTFPART (document 5.11) enables you to receive Participant account return transaction information at various times of the business day.
Settlement: Payment Orders (CF2POC) via CCF-II Function User’s Guide
CCF-II users may utilize the CF2POC function (5.04) in order to transmit Payment Orders (POs), such as Security Payment Orders (SPOs) and Premium Payment Orders (PPOs) to DTC.
Settlement: Collateral Loan Closing Balances (COLOAN) via CCF-II User’s Guide
The COLOAN function (16.6) provides DTC Pledgee Banks daily access to the Collateral Loan Closing Balances.
Settlement: Deliver Orders (DAYDOS/CF2NDO) via CCF-II User’s Guide
CF2 users may use the DAYDOS function (5.02) to transmit day cycle Delivery Order transactions to DTC starting at 3:00 a.m. and continuing throughout the business day, based on the cutoff time schedule. With the CF2NDO function, transactions are batched and transmitted to DTC between 3:00 a.m. and 8:00 p.m. and do not affect the Participant’s account until the next business day.
Settlement: Deliver Orders (DOI1/5) Function User’s Guide
This function (5.24) allows one Participant to transfer a specified quantity of a security to another Participant via FTP, NDM, or MQ.
Settlement: DOX1/5_NDO1/5 Deliver Orders/Night Deliver Orders
These functions (5.09) allow clients to transmit night/day cycle Deliver Order (DO) transactions to DTC and receive responses indicating any errors that have been detected in the transmitted transactions.
Settlement: DTF/SEGPART DTC Segregation Account Return Transactions
These functions (4.07) allow clients to receive data throughout the day, corresponding to data transactions not processed by DTC due to various error conditions. Clients may use this data to automate the updating of their files and the verification of daily transaction processing they send to DTC.
Settlement: Memo Segregation Balances (DTFMEM) Function User’s Guide
CCF/CCF-II users may utilize this function (4.05) to receive DTC Memo Segregation Account Return Closing Balances Information.
Settlement: Disaster Recovery Settlement Participant Activity (5.11-DR)
In the event of a Disaster Recovery, a CF2 user may utilize this function, which generates current Settlement date status transactions for reconciliation.
Settlement: Fed Funds Settlement/Settling Bank Balances (FFSBST)
This function (5.23), produced at approximately 4:00 p.m. each day after Final Figures, consists of a Settling Bank's Legal Entity Participant accounts and their corresponding NSCC and DTC settlement balances. It provides these banks with a Legal Entity Settlement balance file.
Settlement: Fed Funds Settlement/FICC GSD Settling Bank Balances (FFSFIT) Function User’s Guide
This function (5.25) provides Settling Banks with a FICC GSD Settling Bank Settlement balance file at approximately 7:00 a.m. each day. This file consists of the Bank’s FICC Participants’ accounts and names, FICC settlement balances, net settlement balances, and net debits and credits.
Settlement: Customer Level Detail File (IPOCLD) Function User’s Guide
IPOCLD (15.01) allows DTC Participants to receive customer-level detail information for Participants' retail customers, Participants' institutional customers for which they are custodians, and Participants' own institutional customers that hold custody at another Participant. The file is generated once daily via DTF, and is in machine-readable format.
Settlement: Lead Underwriter/Syndicate Member Flipping Activity File (IPOLUW/IPOSYN) via CCF-II Function User’s Guide
These files are created once a day. The IPOLUW function (15.02) informs lead managers about syndicate members with customers that flipped during the tracking period, while the IPOSYN function informs syndicate members about customers that flipped during the tracking period.
Settlement: POL 1/5 Payment Orders Instructions
This function (5.22) allows Participants to transmit Payment Orders (PO) instructions to DTCC via CCF-II and MQ including Security Payment Order (SPO) and Premium Payment Order (PPO).
Settlement: Initial Public Offering Tracking System ICM Input Processing (IPA/R/T/J/L1&5) – via CCF-II Function User’s Guide
The IPO tracking system (15.03) offers CCF-II interfaces for tracking IPO issues.
Settlement: Investors Voluntary Redemption and Sales (IVORS) Transaction Pricing (IVREPA) Function User’s Guide
This function (5.26) allows participants to be notified early regarding exact settlement amounts from Transfer Agents/Sponsors due to IVORS Redemptions/Sales.
Settlement: MDH User Guide for Seg and MemoSeg (Output)
MDH for Seg and MemoSeg (Output, 20.06) allows users to transmit Segregation/Memo Segregation transmission blocks directly to DTC.
Settlement: Memo Segregation Activity (MEMOSG) Function User’s Guide
CCF/CCF-II users may utilize this function (4.06) to receive DTC System information regarding Memo Segregation instructions.
Settlement: Memo Segregation (MEMSEG) Function User’s Guide
MEMSEG (4.02) provides a facility that will monitor and control activities in issues that contain fully-paid-for customer securities on deposit at the Depository. Participants are requested to supply MEMSEG entries only for those CUSIPs where a delivery requirement is anticipated that day or the following day's PDQ (night) cycle.
Settlement: MN/NA Day Transfer Position (MNA1/MNA5, 16.9) ICM Input Processing via CCF-II and MDH Function User’s Guide
This function allows users to move position between their MA (minimum amount) accounts and NA (net amount) accounts.
Settlement: • Money Market Instruments Issuance Transaction Input Function User’s Guide
This function (11.01) allows Participants to transmit Money Market Instrument (MMI) issues to DTC via CF2 and MQ.