| A# |
5875 |
| P&S #: |
5445 |
| DATE: |
August 4, 2004 |
| TO: |
All Participants |
| ATTENTION: |
MANAGING PARTNER/OFFICER; OPERATIONS PARTNER/OFFICER; MANAGER P&S DEPARTMENT; MANAGER DATA PROCESSING DEPARTMENT |
| FROM: | Elena Staloff |
| SUBJECT: | NSCC BEGINS PROCESSING SAME DAY SETTLING TRADES ON AUGUST 20, 2004 |
*** REMINDER ***
NSCC will begin processing same day settlement trades on August 19, 2004 (for settlement August 20, 2004).
Same day settlement will be available for regular way trades submitted to NSCC on or after the T+2 cutoff time. Same day settling items received up to 11:30 am (eastern-time) on settlement date will be included in the same day settlement process and will settle that day. These trades will be reported on NSCC’s 400-byte Universal Trade Output Intra-day MROs (as described in Important Notice A#5782, P&S#5352, dated March 17, 2004), end-of-day print image reports (as described in Important Notice A#5827, P&S#5397, dated May 24, 2004) and the two (2) new supplemental Consolidated Trade Summaries (as described in Important Notice A#5582, P&S#5152, dated March 31, 2003). Participants are reminded that this does not include Cash, Next Day and Seller’s Options transactions, which are not settled through the facilities of the corporation. These items must be settled directly between participants. This also does not include fixed income transactions submitted to the Real-Time Trade Matching (RTTM) application.
If you have any questions concerning Same Day Settlement, call your relationship management or email the undersigned estaloff@dtcc.com.
Elena Staloff
Director, Product Marketing and Development