what is NSCC clearing broker
The National Securities Clearing Corporation, or NSCC, is the clearinghouse for the New York Stock Exchange, NYSE MKT LLC (formerly the American Stock Exchange) and the NASDAQ stock exchange. clearing firm performs back office operations, such as trade comparisons for a clearinghouse. Trades are considered to be cleared when the records of both parties have been compared and confirmed that they match.
DEFINITION of 'National Securities Clearing Corporation-NSCC'. A subsidiary of the Depository Trust & Clearing Corporation (DTCC) that provides centralized clearing, risk management, information and settlement services to the financial industry.efore its inception, huge demand of paper stock certificates were a reality for stock brokerages, causing the stock exchanges to close once a week. To overcome this problem, multilateral netting was proposed, leading to the formation of the NSCC.