Effective February 6, 2024, Invitae Corporation (Invitae) will experience a change in the settlement process for its NVTA options due to the National Securities Clearing Corporation (NSCC) no longer accepting NVTA exercise and assignment activity for settlement. Consequently, all NVTA options exercise and assignment activity will transition to a broker-to-broker settlement system from this date forward. The Options Clearing Corporation (OCC) has decided not to impose any exercise restrictions on NVTA options, and will continue to process exercise instructions in accordance with its rules. However, if a Clearing Member is unable to deliver NVTA shares on the designated settlement date, the settlement obligations will be postponed until OCC designates a new settlement date, method, or value. Clearing Members are required...Show More

Effective February 6, 2024, Invitae Corporation (Invitae) will experience a change in the settlement process for its NVTA options due to the National Securities Clearing Corporation (NSCC) no longer accepting NVTA exercise and assignment activity for settlement. Consequently, all NVTA options exercise and assignment activity will transition to a broker-to-broker settlement system from this date forward. The Options Clearing Corporation (OCC) has decided not to impose any exercise restrictions on NVTA options, and will continue to process exercise instructions in accordance with its rules. However, if a Clearing Member is unable to deliver NVTA shares on the designated settlement date, the settlement obligations will be postponed until OCC designates a new settlement date, method, or value. Clearing Members are required to notify OCC immediately if they cannot effect settlement, and may be required to provide written confirmation from an appropriate officer that delivery is not possible. In cases where delivery cannot be effected, OCC may opt for cash settlement or other alternate settlement methods, such as a buy-in of shares. Clearing Members must refer to the Broker-to-Broker Delivery Advice report for details on NVTA exercise/assignment activity and are responsible for arranging settlement with the opposite side Clearing Member. OCC will continue to margin NVTA exercise/assignment activity until settlement is achieved. Additional details on the new broker-to-broker settlement procedures can be found in OCC Information Memo #50206.