National Securities Clearing Corp.

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National Securities Clearing Corp.
Founded 1976
Headquarters New York, NY USA
Key People Donald Donahue, chairman and CEO; William Aimetti, president and COO
Products financial clearing and settlement
Web site http://www.nscc.com/

The National Securities Clearing Corp. (NSCC), a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC), is a central counterparty that provides centralized clearance, settlement and information services for almost all broker-to-broker equity, corporate bond and municipal bond, exchange-traded funds and unit investment trust (UIT) trades in the U.S.[1]

The NSCC, which was established in 1976, also nets trades and payments among its participants, reducing the value of securities and payments that need to be exchanged by an average of 98 percent each day. NSCC generally clears and settles trades on a T+3 basis.[2]

Contents

History

Products and Services

Key People

References

  1. ↑ Welcome to National Securities Clearing Corporation. NSCC. Retrieved on April 30, 2008.
  2. ↑ About DTCC. DTCC. Retrieved on April 30, 2008.
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