Series 24: Clearance And Settlement

Taken from our Series 24 Online Guide

Clearance and Settlement

The clearing and settlement process generally involves two steps: trade comparison and delivery. For securities traded on Nasdaq, trade comparison is made by each party’s clearing firm. Nasdaq’s Automated Confirmation Transaction System (ACT) “locks in” the trade and sends it to the National Securities Clearing Corporation (NSCC), which electronically clear

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