Smart-sequencing functionality for Fedwire Securities Service effective May 10
April 22, 2021
Confirm implementation of smart-sequencing functionality for securities transfer messages sent by Fedwire® Securities Service participants and service providers using the FedLine Direct® Solution during the pre-open window
As previously communicated, effective May 10, 2021, the Fedwire Securities Service will introduce smart-sequencing functionality that will reorder transfer messages sent by participants and service providers using the FedLine Direct Solution during the service’s pre-open window, from 8 a.m. to the opening of the service at 8:30 a.m. ET.1
The functionality is designed to shorten transfer message processing times during the first several minutes after the service opens for processing transfer messages. Any transfer messages sent using the FedLine Direct Solution and queued during the pre-open window may be subject to this reordering. Participants and service providers that queue transfer messages during the pre-open window through the FedLine Direct Solution should ensure your Fedwire Securities Service interface applications can receive transfer acknowledgements in a non-sequential order as a result of this reordering.
If you have further questions regarding this communication, please contact your designated Wholesale Testing Unit.
1Additionally, also effective May 10, 2021, the Federal Reserve Banks will shift the opening of the Fedwire Securities Service for processing securities transfers to 8:30 a.m. from 8:25 a.m. ET to align with the published opening time in Appendix B, to Operating Circular 7.