| A# |
5730 |
| P&S #: |
5300 |
| DATE: |
December 10, 2003 |
| TO: |
ALL PARTICIPANTS |
| ATTENTION: |
MANAGING PARTNER/OFFICER; OPERATIONS PARTNER/OFFICER; CASHIER; MANAGER P & S DEPARTMENT; MANAGER DATA PROCESSING DEPARTMENT |
| FROM: | VINCENT MC DEVITT |
| SUBJECT: | CNS BUY-IN ENHANCEMENTS - IMPLEMENTATION DECEMBER 12, 2003 |
As part of our ongoing effort to enhance the CNS buy-in stream, we are pleased to announce that on December 12, 2003, National Securities Clearing Corporation will implement the following CNS Buy-in enhancements:
CNS NOTICES OF INTENTIONS TO BUY-IN ON SUCCESSIVE DAYS
NSCC will begin to accept CNS Notices of Intention to Buy-in on successive days. However, the number of shares covered in a subsequent day's notice may not exceed the Member's total CNS long position at the close of business on that date, less the number of shares covered by the Buy-in notice made on the previous day. EXAMPLE: On day 1 ("N") a Member has a CNS closing long position of 1000 shares (i.e. a fail to receive 1,000 shares) and submits a CNS Notice of Intent for 700 shares that day. On day 2 ("N+1") the Member will also be allowed to submit a Notice of Intent for a quantity that does not exceed the following sum: 300 shares, plus or minus any new settling positions, and minus any shares allocated. To the extent the Member's open long position has been fully or partially satisfied, the number of shares to be bought in must be reduced accordingly.
NEW BUY-IN INFORMATION PRINT IMAGE FILE
On December 12, 2003, National Securities Clearing Corporation will begin to phase in a new print image file (AutoRoute product 02040891) for CNS buy-ins, which will include the CNS Buy-in Confirmation Report and the CNS Buy-in Re-transmittal Report that are presently on the CNS Projection Report. On May 31, 2004 National Securities Clearing Corporation will no longer provide buy-in information on the CNS Projection Report (Autoroute product 02040009) and this new AutoRoute product will become the single source of buy-in information. Participants should contact their Relationship Manager to receive this new AutoRoute product.NEW BUY-IN INFORMATION MRO FILE
On December 12, 2003 National Securities Clearing Corporation will begin to offer to Participants their CNS Buy-in reports in Machine Readable Output. Attached to this notice is the record layout for this new AutoRoute MRO file (02040890) for CNS Buy-in Confirmations and CNS Buy-in Re-transmittals. Participants should contact their Relationship Manager to receive this new AutoRoute product.
All of the CNS file formats can be obtained from NSCC's file format Web site http://formats.nscc.com under the CNS section. A copy of this Important Notice or any other NSCC Important Notice can be found at NSCC's Web site http://www.nscc.com in the Important Notice section. If you have any questions regarding these modifications, please contact DTCC Relationship Management at (212) 855-4155, or the undersigned at (212) 855-5694.
Vincent Mc Devitt
Manager, Product Management
| Detail |
|
| AUTOROUTE ID: 02040890 |
Record Length: 305 |
| Description |
Length |
Start |
End |
Type |
Comments |
| Participant Number |
4 |
1 |
4 |
A/N |
NSCC Participant Number |
| Record Type |
1 |
5 |
5 |
A/N |
Value is “B” Buy-in Confirmation |
| Participant Number |
4 |
6 |
9 |
A/N |
NSCC Participant Number |
| Sub-Account |
1 |
10 |
10 |
A/N |
|
| Participant Name |
50 |
11 |
60 |
A/N |
NSCC Participant Name |
| CUSIP |
12 |
61 |
72 |
A/N |
|
| CUSIP Description |
31 |
73 |
103 |
A/N |
|
| Original Quantity |
9 |
104 |
112 |
N |
999,999,999 |
| Retransmittal Quantity |
9 |
113 |
121 |
N |
999,999,999 |
| Night Allocations |
9 |
122 |
130 |
N |
999,999,999 |
| Future Use |
175 |
131 |
305 |
A/N |
Spaces |
| Description |
Length |
Start |
End |
Type |
Comments |
| Participant Number |
4 |
1 |
4 |
A/N |
NSCC Participant Number |
| Record Type |
1 |
5 |
5 |
A/N |
Value is “L” Buy-in Re-transmittal |
| Participant Number |
4 |
6 |
9 |
A/N |
NSCC Participant Number |
| Sub-Account |
1 |
10 |
10 |
A/N |
|
| Participant Name |
50 |
11 |
60 |
A/N |
NSCC Participant Name |
| Future Use |
7 |
61 |
67 |
A/N |
|
| CUSIP |
12 |
68 |
79 |
A/N |
|
| Future Use |
3 |
80 |
82 |
Spaces |
|
| CUSIP Description |
31 |
83 |
113 |
A/N |
|
| Date |
8 |
114 |
121 |
N |
CCYYMMDD |
| Future Use |
4 |
122 |
125 |
||
| Long Participant Information |
150 |
126 |
275 |
A/N |
|
| Long Participant Number |
4 |
N |
Occurs 30 times |
||
| Long Sub-Account |
1 |
A |
Occurs 30 times; Value is “A” |
||
| Quantity (9 digits) |
9 |
276 |
284 |
N |
999,999,999 |
| Future Use |
21 |
285 |
305 |
A/N |
Spaces |