The Depository Trust & Clearing Corporation (DTCC) made the announcement in light of decisions by the markets to observe Friday as a national day of mourning in light of the death of former President Ronald Reagan. The company said it will handle trades from earlier market activity.
A DTCC announcement said that its subsidiaries responsible for transaction processing of U.S. securities will also process maturing money market instruments and follow normal allocation procedures for any periodic principal, dividend and interest payments due that day. DTCC’s fixed income business, as well as those involved in global corporate action services and credit default swaps, will operate as normal.
The closing of exchanges and markets on June 11 will affect the processing activities of DTCC’s National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC) as follows:
- NSCC will accept and process comparison and adjustment input.
- Normal settlement will occur and there will be no changes in the processing of Continuous Net Settlement (CNS) transactions.
- CNS buy-ins for execution on June 11 will be null and void. Customers must request to re-initiate the buy-in procedures for execution on June 14.
- Envelope deliveries and charges will run as normal.
- ACATS and ACATS-Fund/SERV processing will remain unchanged.
- All timeframes for Fund/SERV, Networking and Mutual Fund Profile remain unchanged.
- Insurance processing will occur as normal.
- Normal delivery and settlement services will be provided.
- Money Market Instrument (MMI) maturity presentments, periodic interest payments and periodic principal payments will be processed as usual.
- All scheduled principal, interest and dividend payments will be allocated in accordance with normal procedures.
- All payments will occur as per normal procedures and will become part of DTC’s end of day settlement with settling banks, which will proceed as normal.
- Deposits, Requests for Withdrawals by Transfer, Rush Withdrawals by Transfer and other physical securities processing functions will continue to operate normally.
Additional information is available http://www.dtcc.com .
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