Series 53: Information Dissemination To Depository Agency

Information Dissemination to Depository Agency

At the same time issuers file for eligibility with the DTC, the underwriter must register to use the New Issue Information Dissemination Service (NIIDS). NIIDS is an electronic system operated by the Depository Trust and Clearing Corporation, of which DTC is a subsidiary. The NIIDS system accepts new issue information and distributes it to vendors, dealers, and other market participants. Information about the new issue must be communicated to the depository to ensure that other broker-dealers have timely access to report, confirm, and settle transactions, and to ensure that clearing agencies receive information necessary to provide comparison, clea