Trading, Accounts & Prohibited ActsQuestion 214 of 398
The NSCC and the DTC are both subsidiaries of which parent organization?
a.The New York Stock Exchange
b.The Federal Reserve System
c.The Securities and Exchange Commission
d.The Depository Trust & Clearing Corporation (DTCC)
Explanation
The DTCC is the holding company that owns both the NSCC (which clears and nets trades) and the DTC (which holds securities in book-entry form and settles transfers). Together they provide the core post-trade clearing and settlement infrastructure for U.S. securities.
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