How will NASDAQ OMX enter the U.S. Equities Clearing and Settlement space?
NASDAQ OMXSM intends to: • Rename the Boston Stock Exchange Clearing Corporation (BSECC) as the NASDAQ Clearing Corporation (NCC). • File updated rules with the Securities and Exchange Commission (SEC) to operate NCC as an equities clearing agency in 2009 to: • Provide Perpetual Continuous Net Settlement (CNS) • Act as a Central Counter-Party (CCP) and guarantee trades • Link to DTC and Settling Banks The NASDAQ Clearing Corporation will be committed to: • Providing the highest integrity and efficiency in processing • Exercising the utmost control in the management of risk • Improving the experience in U.S. equity trading for all participants, from investors to the members.
