SIE Exam Practice Question 974
Question: 974
Which of the following holds deposit securities owned by broker-dealers, arranges the receipt and delivery of securities between users by means of debiting and crediting their respective accounts, and arranges for payment of monies between users in the settlement of transactions?
Correct Answer: A
Explanation:
The DTC (Depository Trust Company) holds deposit securities owned by broker-dealers, arranges the receipt and delivery of securities between users by means of debiting and crediting their respective accounts, and arranges for payment of monies between users in the settlement of transactions.
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