As noted above, under the proposed rule amendment, the NSCC would send pairs of instructions to the DTC as follows: (i) an instruction in its own name regarding the NSCC PAHO account and (ii) an instruction on behalf of a participant as a special representative with respect to the participant`s DTC account. Therefore, in order to conduct a DVP transaction between participants who are NSCC SFT counterparties to an SFT transaction, NSC would send DTC a pair of DVP instructions: (i) an instruction as a special agent of the participant that is a counterparty to NSCC SFT to deliver the relevant securities against payment from the account of the supplying participant to the NSCC SFT account, and (ii) an instruction in NSCC`s own name to return the securities in question against making payment from the NSCC`s securities holding account to the account of the receiving participant, which is the other counterparty to the NSCC SFT. As explained in more detail below, the DTC would process deliveries if the pair of instructions complies with DTC risk management controls  and revised forecasts. If the revised risk management controls and outlook are not followed, the instructions on the printed home page 44079 would be recycled  and, if not completed, discontinued at the end of the day. 7. Terms not defined here are defined in the rules available at dtcc.com/~/media/Files/Downloads/legal/rules/dtc_rules.pdf. • use of the Commission`s Internet comment form ( www.sec.gov/rules/sro.shtml); or the DTC proposes to revise Rule 21 so that fines are paid in the manner and at the time determined by the DTC from time to time. The proposed amendment to Start Printed Rule Page 58426 would clarify an implicit aspect of the DTC rules and more closely align Rule 21 with the requirements of DTC-affiliated clearing houses to ensure greater consistency between CIPD clearing house rules.  The DTC proposes to revise Rule 17 to remove the requirement that the credentials required to enter DTC premises must be provided in accordance with the procedures. Currently, the DTC does not maintain specifications to provide such credentials in its procedures. The proposed rule amendment would therefore eliminate outdated rule wording that could confuse participants and readers of the DTC rules. The DTC also proposes to revise Rule 17 to clarify that participants must give “written” notice of the revocation of certificates, powers of attorney and powers, or of the termination of the holder`s employment, in order for such revocation or termination to take effect under Rule 17.
The proposed rule amendment would clarify the appropriate method for notifying DTC of the revocation or termination of proxies and align the reporting requirement in Rule 17 with clearing house requirements related to CTD, thereby creating clear and consistent requirements across clearing house rules.  The DTC is of the view that the proposed rule amendment is consistent with the requirements of the Act and the rules and regulations it contains for a registered clearing house. In particular, DTC considers that the proposed rule amendment on homepage 44082 complies with sections 17A(b)(3)(F) and 17A(b)(3)(D) of the Act  for the reasons described below. 12. See, for example, Rule 11 of the NSCC Rules and Procedures, available under www.dtcc.com/legal/rules-and-procedures.aspx. In addition, there was (bull_moose_man) a contradictory rule that daily reports had to be submitted; Since Hedgies could invoke this contradiction as a reason to ignore the rules, now that they are gone, they have no choice but to abide by them. This means filing daily reports and opening their accounts with the government if the balance “threatens” other NCSS members. All submissions should refer to file number SR-DTC-2022-009. This file number must be included in the subject line if the email is used. To help the Commission process and consider your comments more effectively, please use only one method. The Commission will publish all its comments on its website ( www.sec.gov/rules/sro.shtml).
Copies of the application, any subsequent amendments, all written statements regarding the proposed rule amendment submitted to the Commission, and all written submissions regarding the proposed rule change between the Commission and any other person, other than those that may be withheld to the public under the provisions of 5 U.S.C. 552, will be made available to the public between 10:00 a.m. and 3:00 p.m. on official weekdays between 10:00 a.m. and 3:00 p.m. Commission Reference Room, 100 F Street NE, Washington, DC 20549. Copies of the Submission may also be viewed and copied at DTC`s head office and on DTCC`s website (dtcc.com/legal/sec-rule-filings.aspx). All comments received will be published as is.
Commenters are advised that we do not redact or change the personal information of comments. You should only submit the information you wish to make public. All submissions must reference file numbers SR-DTC-2022-009 and must be filed by October 17, 2022. www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-003-Approval-Notice.pdf 3. Any capitalized term not defined herein shall have its respective meanings as set forth in the DTC Rules, including, but not limited to, DTC`s rules, articles of incorporation and certificate of organization (“Rules”), the DTC Billing Service Guide (“Settlement Guide”) and the 2020 DTC Fee Schedule Guide (“Fee Guide”) available at www.dtcc.com/legal/rules-and-procedures.aspx. 4. On July 22, 2021, the NSCC filed a proposed rule amendment and an advance notice to establish the NSCC SFT service (the “NSCC Proposed Rules”).