**NSCC POSITIONS & VALUES (PVF, PNF, PFF) RECORD LAYOUTS** and Reference File Download Link
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2026-05-30 21:30:15 - Admin
<style> body { font-family: Arial, Helvetica, sans-serif; margin: 0; padding: 20px; line-height: 1.6; color: #333; background-color: #f9f9f9; } h1, h2, h3 { color: #003366; } table { width: 100%; border-collapse: collapse; margin: 20px 0; } th, td { border: 1px solid #bbb; padding: 8px; text-align: left; } th { background-color: #e2eaf5; } pre { background:#eee; padding:10px; overflow:auto; } .note { background:#fffbcc; border-left:4px solid #ffd700; padding:10px; margin:20px 0; } </style><h1>NSCC Positions & Values Record Layouts</h1><p>The National Securities Clearing Corporation (NSCC) supplies a family of record types thatcommunicate detailed position and valuation information for securities cleared through itssystem. The three most common record families are:</p><ul> <li><strong>PVF Position Value File</strong></li> <li><strong>PNF Position Notification File</strong></li> <li><strong>PFF Position Futures File</strong></li></ul><p>Each file follows a fixedwidth ASCII layout, enabling deterministic parsing by downstreamapplications. The tables below summarise the layout of each record type, describe the purposeof each field, and highlight any special processing rules.</p><hr><h2>1. PVF Position Value File</h2><p>The PVF provides a snapshot of the market value of each security held in the NSCCaccount at a specific valuation date. It is typically generated nightly and used forriskbased margin calculations, reporting, and reconciliation.</p><h3>PVF Record Layout</h3><table> <thead> <tr> <th>Position</th> <th>Length</th> <th>Data Type</th> <th>Field Name</th> <th>Description</th> </tr> </thead> <tbody> <tr><td>1</td><td>1</td><td>Char</td><td>Record Type</td><td>Always V for PVF.</td></tr> <tr><td>2</td><td>10</td><td>Alphanum</td><td>Account Number</td><td>NSCC assigned clearing account.</td></tr> <tr><td>12</td><td>6</td><td>Numeric</td><td>Valuation Date</td><td>YYYYMM format.</td></tr> <tr><td>18</td><td>4</td><td>Alphanum</td><td>Security Type</td><td>Equity, ETF, ADR, etc.</td></tr> <tr><td>22</td><td>12</td><td>Alphanum</td><td>Security Identifier</td><td>CUSIP (or ISIN when applicable).</td></tr> <tr><td>34</td><td>15</td><td>Numeric</td><td>Quantity</td><td>Signed, 5 implied decimal places.</td></tr> <tr><td>49</td><td>15</td><td>Numeric</td><td>Market Value</td><td>Signed, 2 implied decimal places.</td></tr> <tr><td>64</td><td>5</td><td>Alphanum</td><td>Currency Code</td><td>ISO4217 (e.g., USD).</td></tr> <tr><td>69</td><td>8</td><td>Numeric</td><td>Price</td><td>8digit, 4 implied decimals.</td></tr> <tr><td>77</td><td>2</td><td>Alphanum</td><td>Price Flag</td><td>A if adjusted, blank otherwise.</td></tr> <tr><td>79</td><td>20</td><td>Alphanum</td><td>Optional Trailer</td><td>Reserved for future use.</td></tr> </tbody></table><p><strong>Key processing points</strong></p><ul> <li>Quantities are expressed in shares with an implied divisor of 10; a value of 1234567 represents 12.34567 shares.</li> <li>Negative quantities indicate short positions.</li> <li>The Market Value is calculated as <code>Quantity Price</code> (after handling the implied decimal places).</li> <li>If the Price Flag contains A, the price has been adjusted for corporate actions that were not reflected in the price feed.</li></ul><hr><h2>2. PNF Position Notification File</h2><p>PNF files are generated after each trade settlement or any activity that changes theposition of a security. They are used for realtime position monitoring and to triggermargin calls when necessary.</p><h3>PNF Record Layout</h3><table> <thead> <tr> <th>Pos</th><th>Len</th><th>Type</th><th>Name</th><th>Description</th> </tr> </thead> <tbody> <tr><td>1</td><td>1</td><td>Char</td><td>Record Type</td><td>Always N.</td></tr> <tr><td>2</td><td>10</td><td>Alphanum</td><td>Account Number</td><td>Same as PVF.</td></tr> <tr><td>12</td><td>6</td><td>Numeric</td><td>Effective Date</td><td>YYYYMM.</td></tr> <tr><td>18</td><td>4</td><td>Alphanum</td><td>Security Type</td><td>Same coding as PVF.</td></tr> <tr><td>22</td><td>12</td><td>Alphanum</td><td>Security Identifier</td><td>CUSIP/ISIN.</td></tr> <tr><td>34</td><td>15</td><td>Numeric</td><td>Delta Quantity</td><td>Signed, 5 implied decimals.</td></tr> <tr><td>49</td><td>12</td><td>Numeric</td><td>Transaction Price</td><td>8 digits + 4 decimal places.</td></tr> <tr><td>61</td><td>2</td><td>Alphanum</td><td>Transaction Code</td><td>B = Buy, S = Sell, D = Dividend, etc.</td></tr> <tr><td>63</td><td>8</td><td>Alphanum</td><td>Trade Identifier</td><td>NSCC assigned unique ID.</td></tr> <tr><td>71</td><td>1</td><td>Char</td><td>Settlement Flag</td><td>Y = settled, N = pending.</td></tr> <tr><td>72</td><td>20</td><td>Alphanum</td><td>Reserved</td><td>Blank, future expansion.</td></tr> </tbody></table><p><strong>Processing notes</strong></p><ul> <li>The <em>Delta Quantity</em> is added to the prior days quantity to obtain the new position.</li> <li>When <em>Settlement Flag</em> = N, the record represents a pending trade; downstream systems should hold the delta until settlement.</li> <li>Corporate actions (e.g., splits) are supplied as a separate Adjustment record type with Transaction Code A.</li></ul><hr><h2>3. PFF Position Futures File</h2><p>PFF records contain the position and valuation detail for futures contracts cleared by NSCC.Although similar in concept to PVF, futures have additional fields for contract month,expiration, and margin requirements.</p><h3>PFF Record Layout</h3><table> <thead> <tr> <th>Pos</th><th>Len</th><th>Type</th><th>Name</th><th>Description</th> </tr> </thead> <tbody> <tr><td>1</td><td>1</td><td>Char</td><td>Record Type</td><td>Always F.</td></tr> <tr><td>2</td><td>10</td><td>Alphanum</td><td>Account Number</td><td>Clearing account.</td></tr> <tr><td>12</td><td>6</td><td>Numeric</td><td>Valuation Date</td><td>YYYYMM.</td></tr> <tr><td>18</td><td>3</td><td>Alphanum</td><td>Future Symbol</td><td>Exchange symbol (e.g., ES).</td></tr> <tr><td>21</td><td>1</td><td>Alphanum</td><td>Month Code</td><td>Futures month (F=Jan, G=Feb Z=Dec).</td></tr> <tr><td>22</td><td>2</td><td>Numeric</td><td>Year</td><td>Last two digits of contract year.</td></tr> <tr><td>24</td><td>15</td><td>Numeric</td><td>Quantity</td><td>Signed, 0 implied decimals (contracts).</td></tr> <tr><td>39</td><td>10</td><td>Numeric</td><td>Last Trade Price</td><td>4 implied decimal places.</td></tr> <tr><td>49</td><td>10</td><td>Numeric</td><td>Settlement Price</td><td>Same scaling as Last Trade Price.</td></tr> <tr><td>59</td><td>12</td><td>Numeric</td><td>Initial Margin</td><td>2 implied decimals, currency in USD.</td></tr> <tr><td>71</td><td>12</td><td>Numeric</td><td>Maintenance Margin</td><td>2 implied decimals.</td></tr> <tr><td>83</td><td>1</td><td>Char</td><td>Position Flag</td><td>L = Long, S = Short.</td></tr> <tr><td>84</td><td>20</td><td>Alphanum</td><td>Reserved</td><td>Future use.</td></tr> </tbody></table><p><strong>Special considerations</strong></p><ul> <li>Futures are quoted in points; the price fields therefore carry four decimal places (e.g., 4256.75 = 4256.7500 points).</li> <li>Margins are expressed in USD; a value of 1500000 represents $15,000.00.</li> <li>The <em>Position Flag</em> determines sign handling: L is positive, S is negative.</li> <li>When the <em>Year</em> is less than the current year, the contract is expired and should be ignored for active margin calculations.</li></ul><hr><h2>4. Common Validation Rules</h2><p>Although each file type has its own layout, the following validation steps are typicallyapplied regardless of record family:</p><ol> <li><strong>Record Length</strong>: Every line must be exactly 100 characters (including trailing blanks). Shorter lines indicate corruption.</li> <li><strong>Alphanumeric Checks</strong>: Fields defined as Alphanum must contain only AZ, 09, or blanks.</li> <li><strong>Numeric Integrity</strong>: Numeric fields must be rightjustified, zerofilled, and contain only digits.</li> <li><strong>Implied Decimal Handling</strong>: Convert to a floatingpoint value by dividing by the proper power of ten before any arithmetic.</li> <li><strong>CrossFile Consistency</strong>: The sum of all <em>Delta Quantity</em> values in a PNF for a given account/date must equal the change in Quantity shown in the PVF for the same date.</li> <li><strong>Reference Data Validation</strong>: Security Identifier must be present in the master security table; monthcode/year combos must correspond to a live futures contract.</li></ol><p>Implementations often use a twopass approach: first a syntax pass to reject malformed records,followed by a businesslogic pass that checks relationships between records and external reference data.</p><hr><h2>5. Sample Parsing Routine (PseudoCode)</h2><pre><code>function parsePVF(line): assert line.length == 100 rec = {} rec.type = line[0] rec.account = line[1:11].trim() rec.valDate = line[11:17] rec.secType = line[17:21].trim() rec.cusip = line[21:33].trim() rec.quantity = toDecimal(line[33:48], 5) rec.marketValue = toDecimal(line[48:63], 2) rec.currency = line[63:68].trim() rec.price = toDecimal(line[68:76], 4) rec.priceFlag = line[76:78].trim() return rec</code></pre><p>The same pattern can be repeated for PNF and PFF, changing field offsets and scaling factors as defined in the tables above.</p><hr><h2>6. Typical Use Cases</h2><ul> <li><strong>Margin Calculations</strong> Combine PVF market values with PFF margin fields to determine daily exposure.</li> <li><strong>Regulatory Reporting</strong> Generate endofday position reports for the SEC or the OCC using the consolidated snapshot from PVF.</li> <li><strong>RealTime Risk Monitoring</strong> Consume PNF deltas in a streaming pipeline to keep a live position book.</li> <li><strong>Corporate Action Processing</strong> Detect adjustment records (Transaction Code A) and apply split or merger ratios to PVF quantities.</li></ul><hr><h2>7. Conclusion</h2><p>The NSCC record families PVF, PNF, and PFF provide a comprehensive, fixedwidth view ofpositions, daily valuations, and futures exposure for clearing participants. Understandingthe exact column offsets, data types, and implied decimal conventions is essential forbuilding reliable ingestion pipelines. By applying the validation rules and crossfileconsistency checks outlined above, firms can confidently use these files for margincalculations, regulatory reporting, and realtime risk management.</p>