SIE EXAM INCLUDES QUESTIONS ON DEPOSITORY CLEARING CORPORATIONS, SO BE PREPARED!
Planning to take the Securities Industry Essentials (SIE) exam soon? Be prepared for questions asking about depository clearing corporations. Can you say in one sentence the purpose and function of the Depository Trust & Clearing Corporation (DTC)? No response? Then you are like most SIE candidates, so don't feel too bad! Bob Eder's Study for the SIE Exam covers the definition and functions of the DTC, as well as the Options Clearing Corporation and ACATS. Here is a section from Bob Eder's book taken from page 12: Depository Trust & Clearing Corp. (DTCC) (1.1.4) "The Depository Trust provides clearing and transfer services to the brokerage industry in the U.S. and throughout the world. With volume of securities trades approaching millions on a daily basis, imagine brokerage operations without a centralized entity that could match buys with sells, and keep brokerage firm back offices running smoothly and efficiently. What chaos without an organization like the...