FINRA General Securities Representative SIE Question # 35 Topic 4 Discussion
SIE Exam Topic 4 Question 35 Discussion:
Question #: 35
Topic #: 4
Which of the following entities settles broker-to-broker equity, listed corporate and municipal bond, and unit investment trust (UIT) transactions in the U.S. equities markets?
National Securities Clearing Corporation (NSCC): A subsidiary of the Depository Trust & Clearing Corporation (DTCC), the NSCC handles the clearance and settlement of broker-to-broker equity, corporate bond, municipal bond, and UIT transactions.
Incorrect Options:
A: The SEC oversees regulatory compliance but does not settle trades.
B: FINRA is a self-regulatory organization, not a clearing entity.
C: The Federal Reserve manages monetary policy and banking but is not involved in securities settlement.
References:
DTCC Overview of NSCC:DTCC NSCC.
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