NSCC Rulemaking

We encourage the public to submit comments on the following National Securities Clearing Corporation (NSCC) filings during the comment period. For detailed instructions, please read How to Submit Comments. We strongly encourage you to send your comments electronically. They will be posted on this website.

Chronological List
Fourth Quarter |  Third Quarter |  Second Quarter |  First Quarter

NSCC File Number List for 2020

Additional Archives

Chronological List for 2020

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Release No. Date Details
Fourth Quarter
SR-NSCC-2020-021
34-90649 Dec. 11, 2020 Notice of Filings and Immediate Effectiveness of Proposed Rule Changes to Amend the Clearing Agencies Liquidity Risk Management Framework
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
Additional File Nos.: SR-DTC-2020-018, SR-FICC-2020-018
SR-NSCC-2020-019
34-90626 Dec. 10, 2020 Notice of Filings and Immediate Effectiveness of Proposed Rule Changes to Amend the Clearing Agency Operational Risk Management Framework
Comments due: 21 days after publication in the Federal Register
Additional File Nos.: SR-DTC-2020-015, SR-FICC-2020-016
SR-NSCC-2020-020
34-90606 Dec. 8, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Making Certain Other Changes to Procedure XV
Comments due: January 4, 2021
Additional Materials: Exhibit 5
SR-NSCC-2020-018
34-90543 Dec. 1, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change, as Modified by Amendment No. 1, to Amend the Fee Structure
Comments due: December 28, 2020
Additional Materials: Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-003
34-90502 Nov. 24, 2020 Order Approving a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
SR-NSCC-2020-016
34-90181 Oct. 14, 2020 Notice of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
Comments due: November 10, 2020
SR-NSCC-2020-017
34-90092 Oct. 5, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Enhance the Insurance and Retirement Processing Services to Provide for a New Centralized Repository and Transactional Platform Called "Insurance Information Exchange" and Make Certain Clarification Changes to the NSCC Rules & Procedures.
Comments due: October 30, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-016
34-90084 Oct. 2, 2020 Self-Regulatory Organizations; National Securities Clearing Corporation; Designation of Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
Third Quarter
SR-NSCC-2020-003
34-89949 Sep. 22, 2020 Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
SR-NSCC-2020-016
34-89558 Aug. 14, 2020 Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
Comments due: September 10, 2020
Additional Materials: Exhibit 3, Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-015
34-89408 Jul. 28, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify Fees for the Subscription-Based Portfolio Composition File Reporting Service
Comments due: August 24, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-014
34-89360 Jul. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Policy on Capital Requirements
Comments due: August 17, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-013
34-89322 Jul. 15, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Remove the NSCC Equity Options and Bond Options Service from Addendum M of the NSCC Rules & Procedures
Comments due: August 11, 2020.
Additional Materials: Exhibit 5
SR-NSCC-2020-012
34-89271 Jul. 9, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Clearing Agency Risk Management Framework
Comments due: August 5, 2020.
Additional Materials: Exhibit 5
Second Quarter
SR-NSCC-2020-003
34-89145 Jun. 24, 2020 Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
Comments due: July 21, 2020.
Rebuttal comments due: August 4, 2020.
SR-NSCC-2020-011
34-89141 Jun. 24, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify the Clearing Fund Maintenance Fee
Comments due: July 21, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-010
34-89088 Jun. 18, 2020 Notice of Filing of and Immediate Effectiveness of a Proposed Rule Change to Amend Rules with Respect to Index Receipts
Comments due: July 15, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-008
34-88911 May 20, 2020 Order Approving a Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Additional File Nos.: SR-DTC-2020-008, SR-FICC-2020-004
SR-NSCC-2020-003
34-88885 May 15, 2020 Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
SR-NSCC-2020-008
34-88637 Apr. 15, 2020 Notice of Filing of Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Comments due: May 12, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-009
34-88579 Apr. 7, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Remove Access to the Fund/SERV Service by Data Services Only Members in Rule 52 and Revise the Defined Term for Fund/SERV in the NSCC Rules.
Comments due: May 4, 2020
Additional Materials: Exhibit 5
First Quarter
SR-NSCC-2020-007
34-88514 Mar. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Investment Policy
Comments due: April 24, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-002
34-88494 Mar. 27, 2020 Order Approving a Proposed Rule Change to Enhance the Calculation of the Family-Issued Securities Charge
SR-NSCC-2020-003
34-88474 Mar. 25, 2020 Notice of Filing of Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
Comments due: April 21, 2020
Additional Materials: Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-006
34-88343 Mar. 6, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Municipal Bonds
Comments due: April 2, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-004
34-88260 Feb. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Municipal Bonds
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-NSCC-2019-004
34-88191 Feb. 13, 2020 Order Approving a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Municipal Bonds
SR-NSCC-2020-002
34-88163 Feb. 11, 2020 Notice of Filing of Proposed Rule Change to Enhance the Calculation of the Family-Issued Securities Charge
Comments due: March 10, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-001
34-88092 Jan. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Enhance National Securities Clearing Corporation's Automated Customer Account Transfer Service (ACATS) Transfer Processes and Make Certain Clarifications in Rule 50
Comments due: February 26, 2020
Additional Materials: Exhibit 5

File Number List for 2020

Release No. Date Details
SR-NSCC-2020-021
34-90649 Dec. 11, 2020 Notice of Filings and Immediate Effectiveness of Proposed Rule Changes to Amend the Clearing Agencies Liquidity Risk Management Framework
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
Additional File Nos.: SR-DTC-2020-018, SR-FICC-2020-018
SR-NSCC-2020-020
34-90606 Dec. 8, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Making Certain Other Changes to Procedure XV
Comments due: January 4, 2021
Additional Materials: Exhibit 5
SR-NSCC-2020-019
34-90626 Dec. 10, 2020 Notice of Filings and Immediate Effectiveness of Proposed Rule Changes to Amend the Clearing Agency Operational Risk Management Framework
Comments due: 21 days after publication in the Federal Register
Additional File Nos.: SR-DTC-2020-015, SR-FICC-2020-016
SR-NSCC-2020-018
34-90543 Dec. 1, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change, as Modified by Amendment No. 1, to Amend the Fee Structure
Comments due: December 28, 2020
Additional Materials: Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-017
34-90092 Oct. 5, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Enhance the Insurance and Retirement Processing Services to Provide for a New Centralized Repository and Transactional Platform Called "Insurance Information Exchange" and Make Certain Clarification Changes to the NSCC Rules & Procedures.
Comments due: October 30, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-016
34-90181 Oct. 14, 2020 Notice of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
Comments due: November 10, 2020
34-90084 Oct. 2, 2020 Self-Regulatory Organizations; National Securities Clearing Corporation; Designation of Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
34-89558 Aug. 14, 2020 Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charge
Comments due: September 10, 2020
Additional Materials: Exhibit 3, Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-015
34-89408 Jul. 28, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify Fees for the Subscription-Based Portfolio Composition File Reporting Service
Comments due: August 24, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-014
34-89360 Jul. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Policy on Capital Requirements
Comments due: August 17, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-013
34-89322 Jul. 15, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Remove the NSCC Equity Options and Bond Options Service from Addendum M of the NSCC Rules & Procedures
Comments due: August 11, 2020.
Additional Materials: Exhibit 5
SR-NSCC-2020-012
34-89271 Jul. 9, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Clearing Agency Risk Management Framework
Comments due: August 5, 2020.
Additional Materials: Exhibit 5
SR-NSCC-2020-011
34-89141 Jun. 24, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify the Clearing Fund Maintenance Fee
Comments due: July 21, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-NSCC-2020-010
34-89088 Jun. 18, 2020 Notice of Filing of and Immediate Effectiveness of a Proposed Rule Change to Amend Rules with Respect to Index Receipts
Comments due: July 15, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-009
34-88579 Apr. 7, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Remove Access to the Fund/SERV Service by Data Services Only Members in Rule 52 and Revise the Defined Term for Fund/SERV in the NSCC Rules.
Comments due: May 4, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-008
34-88911 May 20, 2020 Order Approving a Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Additional File Nos.: SR-DTC-2020-008, SR-FICC-2020-004
34-88637 Apr. 15, 2020 Notice of Filing of Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Comments due: May 12, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-007
34-88514 Mar. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Investment Policy
Comments due: April 24, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-006
34-88343 Mar. 6, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Municipal Bonds
Comments due: April 2, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-004
34-88260 Feb. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Establish Implementation Date of National Securities Clearing Corporation's Enhancements to the Haircut-Based Volatility Charge Applicable to Municipal Bonds
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-NSCC-2020-003
34-90502 Nov. 24, 2020 Order Approving a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
34-89949 Sep. 22, 2020 Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
34-89145 Jun. 24, 2020 Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
Comments due: July 21, 2020.
Rebuttal comments due: August 4, 2020.
34-88885 May 15, 2020 Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
34-88474 Mar. 25, 2020 Notice of Filing of Proposed Rule Change to Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV
Comments due: April 21, 2020
Additional Materials: Exhibit 5
Comments received are available for this proposal.
SR-NSCC-2020-002
34-88494 Mar. 27, 2020 Order Approving a Proposed Rule Change to Enhance the Calculation of the Family-Issued Securities Charge
34-88163 Feb. 11, 2020 Notice of Filing of Proposed Rule Change to Enhance the Calculation of the Family-Issued Securities Charge
Comments due: March 10, 2020
Additional Materials: Exhibit 5
SR-NSCC-2020-001
34-88092 Jan. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Enhance National Securities Clearing Corporation's Automated Customer Account Transfer Service (ACATS) Transfer Processes and Make Certain Clarifications in Rule 50
Comments due: February 26, 2020
Additional Materials: Exhibit 5