Federal Register #SR-DTC-2026-008

DTC Settlement Service Guide Update – Clarification of Payment Order Procedures

This notice concerns a regulatory update by The Depository Trust Company (DTC) regarding its Settlement Service Guide: - Government buyer: - Securities and Exchange Commission (SEC) - OEM/vendor mentioned: - The Depository Trust Company (DTC) - Key updates to the Settlement Service Guide: - Clarifies and updates language and procedures for premium payment orders (PPOs), securities payment orders (SPOs), and settlement progress payments (SPPs) - Introduces a new sample use case for SPOs and SPPs - Clarifies withdrawal processes for SPPs - Improves overall clarity of the guide - Notable requirements and impacts: - No changes to DTC's end-of-day settlement process or risk management controls - No new obligations or actions required from participants - No procurement of products or services is involved; this is a procedural and documentation update only

Description

The Depository Trust Company (DTC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its Settlement Service Guide. The amendment aims to clarify the language and update the use around premium payment orders (PPOs), securities payment orders (SPOs), and settlement progress payments (SPPs) at DTC. The changes include adding a new sample use case and improving the clarity of the withdrawal process for SPPs. The rule change is effective immediately upon filing and is intended to improve the overall clarity and functionality of the Settlement Guide without affecting DTC's end-of-day settlement process or risk management controls.

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