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IRA Distribution Strategies Expert

 

Accredited Investment Fiduciary - AIF®




NSCC / DCC&S

National Securities Clearing Corporation (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 virtually all broker-to-broker equity, corporate bond and municipal bond, exchange-traded funds and unit investment trust (UIT) trades in the U.S.

NSCC is also the main provider of centralized information services and money settlement for mutual funds and insurance and annuity transactions, linking funds and insurance carriers with their broker/dealer, bank and financial planner distribution channels.

NSCC is the oldest and, in terms of the transaction volumes it processes, by far the largest of DTCC's clearing corporations. In 2002, it processed an average of 16.2 million transactions each day, with a peak day of 24.7 million transactions.

In the course of doing this, NSCC provides clearing and settlement, risk management, central counterparty services and a guarantee of completion for trades involving equities, corporate and municipal debt, money market instruments, American depositary receipts, exchange-traded funds, unit investment trusts, mutual funds and other securities. NSCC also nets trades and payments among its participants, reducing the volume and securities and payment that need to be exchanged by an average of 97% each day. NSCC generally clears and settles trades on a T+3 basis.


 




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