NSCC (National Securities Clearing Corporation)

The National Securities Clearing Corporation was created in 1977 as a result of an amalgamation of the subsections of the New York and American stock exchanges and also the National dealer’s association for securities. Through the NSCC, brokerages, exchanges and other clearing organizations are able to carry out mutual settlements. The modern-day NSCC, along with the Depository Trust Company, is the largest service provider for financial market calculations in the world.