Modifies the NSCC rules and procedures to remove Rule 54 and Procedure XVII from the NSCC rules and to make some other conforming changes to the NSCC rules.
To reflect the decommissioning of the DTCC limit monitoring risk management tool.
DTCC limit monitoring enables members to monitor trading activity on an intraday basis of organizations and/or correspondent firms through review of post-trade data.
Once decommissioned, members will no longer receive email alerts or output files.
Proposed rule to be implemented on Nov. 15, 2024, subject to approval by the SEC.
Red-lined version of proposed rule removals available in rule filing beginning on pg 20.
Consultation
Comments on proposed rule change due 21 days from publication in federal register.
May 29, 2024 SEC Notice of Filing
On May 29, 2024, SEC issued notice of filing of NSCC proposal, for 21-day comment.
Jun. 2024 SEC Fed Reg Proposal
On Jun. 4, 2024, SEC published proposal in federal register, comments Jun. 25, 2024.
Jul. 10, 2024 SEC Approval
On Jul. 10, 2024, SEC issued order approving NYSE proposal re risk limit monitoring.
Jul. 16, 2024 Fed Reg Approval
On Jul. 16, 2024, SEC published final approval of proposed rule in the federal register.
Aug. 2024 NSCC on Decommissioning
On Aug. 28, 2024, NSCC issued notice on approval of DTC, NSCC proposal to decommission DTCC limit monitoring risk management tool, decommission on Nov. 15.
Once decommissioned, members no longer get email alerts/files from Limit Monitoring.
Decommissioning Nov. 15 , 2024; Listed output files that will no longer be produced.
Regulators
DTC; NSCC
Entity Types
B/D; Depo; Exch; FDM; IA
Reference
Nt #9483, 8/28/2024; 89 FR 57959, 7/16/2024; SEC RF 34-100486, 7/10/2024; 89 FR 48019, 6/4/2024; SEC RF 34-100237, 5/29/2024; IN a9432, RF NSCC-2024-004, 5/16/2024; IN a9395, 2/22/2024; Citation: NSCC rules and procedures;
