TITLE

Industry Mulls Potential of Nasdaq Clearing Initiative

AUTHOR(S)
HINTZE, JOHN
PUB. DATE
January 2009
SOURCE
Securities Industry News;1/19/2009, Vol. 21 Issue 2, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that securities exchange officials have been pressing industry players for feedback on how best to compete against the National Securities Clearing Corp. (NSCC) with Nasdaq OMX Group slated to launch a clearing service in the third quarter of 2009. According to Jeff Bell of Webush Morgan, Nasdaq is putting a lot of pressure on broker-dealers to have to change their systems around and interface with a second clearinghouse. Craig Messinger of Pershing stressed the need to resolve interoperability issues among self-clearing firms.
ACCESSION #
36334819

 

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