On Jul. 31, 2025, NSCC issued Important Notice service update; Fully-paid-for (FPF) decommissioned code available in test region (PSE) on Aug. 8, 2025, for client testing.
All active clients discontinue using FPF subaccount in production environment, move remaining positions from FPF subaccount at least 3 days prior Sep. 11 decommission.
On Jul. 29, NSCC issued notice of Fully-paid-for account decommission
NSCC published notice informing participants of Fully-paid-for account decommission.
Fully-Paid-For Account Decommission
Fully-paid-for account within Continuous net settlement assists clients in maintaining compliance with possession and control requirements pursuant to 17 CFR 240.15c3-3.
Members may instruct NSCC to move expected long allocations to the FPF account and agree to settle funds associated with movement at the end-of-day settlement process.
Due to limited client usage, determined that the service is no longer viable and plans to retire FPF accounts subject to any necessary regulatory filings or approvals.
Decommissioned code will be available in test region on Aug. 8, 2025, for testing.
Any positions in FPF subaccount should be moved three days prior to Aug. 8, 2025.
Also looking for all active clients to discontinue using FPF subaccount, move remaining positions from their FPF subaccount at least three days prior to the Sep. 11, 2025.
Effectiveness
FPF accounts to be decommissioned on Sep. 11, 2025, subject to regulatory approval.
Jul. 31, 2025 NSCC Service Update
On Jul. 31, 2025, NSCC issued Important Notice service update; Fully-paid-for (FPF) decommissioned code available in test region (PSE) on Aug. 8, 2025, for client testing.
All active clients discontinue using FPF subaccount in production environment, move remaining positions from FPF subaccount at least 3 days prior Sep. 11 decommission.
Regulators
NSCC
Entity Types
B/D; Depo
Reference
Nt 9625, 7/31/2025; Nt 9623, 7/29/2025; Citation: 17 CFR 240.15c3-3;
