9 Jul 2025
📈NSCC Proposes Rule Change to Decommission Exemptions and Accounts
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NSCC Rules To Decommission CNS Functionality Related to Level 2 Exemptions and Fully-Paid-For Accounts
Summary
The NSCC has proposed a rule change to decommission Level 2 Exemptions and Fully-Paid-For Accounts in its Continuous Net Settlement (CNS) system. This move aims to streamline operations and allocate resources more effectively, identifying the functionalities as underutilized amidst ongoing modernization efforts.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposal involves decommissioning underutilized functionalities (Level 2 Exemptions and Fully-Paid-For Accounts) within NSCC's CNS system, affecting how members manage inventory and settlement processes. This may lead to changes in compliance and operational practices for businesses within the securities industry.