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ID Net Bank deliveries that remain exempt at 11:30 a.m. eastern time on settlement date will be exited from ID Net as follows:

  • ID Net will move the original clearing firm back into the receiver field and the ID Net Subscriber Deliver Account #719 will be placed into the third-party field by the ID Net Service. Thus, if a bank authorizes the delivery after the 11:30 a.m. (eastern time) ID Net cutoff, the ID delivery will go directly to the original clearing firm.
  • Authorized ID Net Bank deliveries that are pending for position or the deliverer’s or receiver’s risk management controls will also be exited from ID Net and will continue to recycle in the system to the ID Net Firm. The ID Net Bank delivery will be systematically updated so that the original clearing firm will be moved back from the third party field to the receiver field and the ID Net Subscriber Deliver Account #719 will be placed into the third-party field. The transaction will continue to recycle with the same Relative Block Number (RBN – the unique transaction number applied by the processing system); however, if it re-pends or completes, it will be assigned a new RBN # that will point to the original RBN.