SIE Exam Dumps | Which of the following entities settles broker-to-broker equity, listed corporate and municipal bond,

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FINRA.SIE.v2025-09-26.q80
Question 9

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Question 9/80

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?

A. SEC

B. FINRA

C. Federal Reserve

D. National Securities Clearing Corporation (NSCC)

Correct Answer: D

Step by Step Explanation:
* 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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