Search Results for keywords:"NSCC"

Found 3 results

Search Results: keywords:"NSCC"

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  • 2025-01548 — Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend and Restate the Second Amended and Restated Netting Contract and Limited Cross-Guaranty Between NSCC and DTC
    Type:Notice
    Citation:90 FR 8076
    Reading Time:about 6 minutes

    The National Securities Clearing Corporation (NSCC) has proposed a rule change to amend and restate its 2002 Cross-Guaranty Agreement with the Depository Trust Company (DTC). This proposal aims to update procedures to reflect current practices, simplify guaranty obligations, and enhance information sharing between the two agencies. The Securities and Exchange Commission (SEC) has allowed the rule to take effect immediately, noting it does not significantly impact investor protection or competition. Written comments on the proposal can be submitted by the public until February 13, 2025.

    Simple Explanation

    The NSCC wants to update an agreement with another company to make it easier for them to share information and work together. The government thinks this is fine and won't hurt people who invest money or compete in the market.

  • 2025-00171 — Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the NSCC Rules & Procedures With Respect to the Receipt of CNS Securities
    Type:Notice
    Citation:90 FR 1560
    Reading Time:about 3 minutes

    The National Securities Clearing Corporation (NSCC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to modify its rules concerning the receipt of securities from its Continuous Net Settlement (CNS) system. This change aims to improve the clarity of NSCC's rules regarding CNS long allocations. The SEC has published a notice to gather public comments on this proposal. Comments can be submitted online or by mail by January 29, 2025.

    Simple Explanation

    In simple terms, the National Securities Clearing Corporation wants to change some rules about how it takes in certain types of stocks and bonds. They are asking for people's opinions on these changes, and anyone can send in their thoughts by the end of January.

  • 2024-29927 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 309
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    Type:Notice
    Citation:89 FR 103030
    Reading Time:about 14 minutes

    The New York Stock Exchange (NYSE) has proposed a change to Rule 309, which aims to simplify the payment process for member organizations by allowing the exchange to directly debit undisputed or final fees from their accounts at the National Securities Clearing Corporation. Organizations have the option to opt-out and set up alternative payment methods. This new method is intended to ease administrative burdens and reduce overdue account balances. Additionally, a $10,000 threshold is set for disputes before debiting occurs, providing time for members to address potential billing errors.

    Simple Explanation

    The New York Stock Exchange wants to make it easier for member companies to pay their bills by taking the money directly from their bank, just like when mom or dad pay for things automatically. Companies don’t have to do this if they don’t want to and can choose a different way to pay if they say so.