Each transaction is confirmed and affirmed/matched through ITP’s TradeSuite system, which distributes the affirmed confirmation to appropriate parties of the trade. 然后ITP将符合条件的交易发送到ID净服务, which nets them with the subscribing broker’s other CNS activity, 减少了公司的结算总价值. Simultaneously, the custodian bank either receives from or delivers to the broker shares vs. payment on a trade-for-trade basis via two omnibus accounts created by NSCC.
Upon receipt of the affirmation of an eligible trade from ITP, ID净 automates the following steps:
- 银行交付, ID净 moves the "original clearing broker" from the receiver's field to the Third Party field of the ID delivery instruction and replaces it with a new NSCC omnibus account (# 719).
- 银行收款, ID净 moves the "original clearing broker" from the deliverer's field to the Third Party field of the ID delivery instruction and replaces it with a new NSCC omnibus account (# 919).
The ID净 process flow has been designed to minimize IT development. Banks are provided with Machine Readable Output (MRO) containing the original receiving or delivering broker in the same fields that they read today. (可选), banks may program to read the Third Party field to determine if the trade was processed through ID净.
NSCC reports ID净 trades to broker/dealers at the end of the night cycle on the CNS Miscellaneous Activity Report.