ID Net Firms must be NSCC Members eligible for CNS processing as well as Participants in DTC. ID Net Banks must be DTC Participants. All agent ID numbers associated with a given ID Net Bank are included for processing.
- A subscriber to the ID Net Service must submit an ID Net subscriber form to both DTC and NSCC in order to become an ID Net Subscriber.
- Upon receipt of the form, DTC’s Account Administration reviews it for all required information and authorization.
- If acceptable, the appropriate master file update takes place that evening at approximately 8 p.m.
- Once the update has occurred, Affirmed Transactions from that evening between the new ID Net Subscriber and other eligible ID Net Subscribers are routed into the ID Net process. Thus, the earliest time that eligible Affirmed Transactions of the new ID Net Subscriber are processed in ID Net is on the following night.
Note- A Participant should contact its Relationship Manager about testing with DTC and NSCC prior to signing up for ID Net.