Continuous Net Settlement (CNS)

Continuous Net Settlement (CNS) is a settlement process used by the National Securities Clearing Corporation (NSCC) for the clearing and settlement of securities transactions. CNS includes an automated book-entry accounting system that centralizes the settlement of transactions, keeping the flows of security and money balances orderly and efficient.

During the CNS process, reports are generated that document the movements of money and securities. This system processes most broker-to-broker transactions in the United States that involve equities, corporate and municipal bonds, American depositary receipts, exchange-traded funds, and unit investment trusts. NSCC is a subsidiary of the Depository Trust Clearing Corporation (DTCC).