On May 13, 2025, NSCC issued notice on requirement for to initiate upgrade of T1 and/or T3 circuits for DTCC SMART service; some firms not yet completed upgrades.
Members that have not made necessary circuit upgrades by Sep. 30th, 2025, will be in violation of NSCC Rule 2B Section 2; such members will be subject to a $5000 fine.
On Aug. 20, FICC requested clients upgrade circuit technology.
FICC and NSCC reported T1 and/or T3 circuit technology is approaching end of life.
T1 and T3 Migration
Circuit service providers are requiring all clients to migrate from T1 and T3 circuits.
Failure to upgrade circuits to alternative technologies will result in service outages.
Additionally, to expedite the upgrades, circuit providers have implemented significant price increases and have also begun issuing mandatory disconnect notices
DTCC may contact any client for a mandatory disconnection once notification received.
Within two weeks of being contacted, clients must respond to or schedule a meeting with Client Connectivity Services team to discuss next steps or alternative solutions.
Effectiveness
All clients must initiate T1 and/or T3 circuit upgrades no later than Oct. 1, 2024.
May 2025 NSCC Important Notice
On May 13, 2025, NSCC issued notice on requirement for to initiate upgrade of T1 and/or T3 circuits for DTCC SMART service; some firms not yet completed upgrades.
Members that have not made necessary circuit upgrades by Sep. 30th, 2025, will be in violation of NSCC Rule 2B Section 2; such members will be subject to a $5000 fine.
Regulators
FICC; NSCC
Entity Types
B/D; Depo
Reference
NSCC: Nt IN a9598, 5/13/2025; IN 9480, 8/20/2024; FICC: IN, 1358-24, 8/20/2024; Citation: NSCC Rule 2B;
