Series 7: 17.5.2.1. Clearance And Settlement For Trades Cleared Electronically

Taken from our Series 7 Online Guide

17.5.2.1. Clearance and Settlement for Trades Cleared Electronically

The clearing and settlement process generally involves two steps: trade comparison and delivery. For securities traded on Nasdaq, trade comparison is made by each party’s clearing firm. Nasdaq’s Automated Confirmation Transaction Service (ACT) “locks in” the trade and sends it to the NSCC, which electronically clears and nets the trading activity for that day. From there, the Depository Trust and Clearing Corporation (DTCC) is assigned to settle the trade by transferring ownership of the netted shares from

+ Read More

More Series 7 Info

What are people saying?

Create an Account

Since you're reading about Series 7: 17.5.2.1. Clearance And Settlement For Trades Cleared Electronically, you might also be interested in:

Series 24 - 2.1.4.3. Supervisory Qualifications

Series 27 - Resuming Registration Status After an Absence

Series 53 - Units of Delivery

Series 65 - Reasons for Disciplining an Adviser, IAR, Broker-Dealer, or Agent

Series 7 - 6.1.3.3 Additional Fees

Series 53 - Advantages of Advance Refunding

Series 63 - Limits on Employment or Association

Series 53 - De Minimis Exception

Series 7 - 18.4.2. Dispute Resolution Procedures

Series 6 - 6.3.3.5. Sales Charge

Series 14 - Exercise

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I would not have passed the Series 7 top off without the Solomon materials. The structure of the questions was the closest out of all the programs I tried and their customer support is top notch. I will definitely be back! Thank you!!

Lauren J, Westlake, TX

A more recent update after taking my Series 7 exam: Within one year of joining the financial industry, Solomon materials have gotten me a 100%, 4 for 4 pass rate with the SIE, S6, 63 and S7 all completed within 10 months. Once again, the materials and practice tests prepared me for the S7 exam better than I could've imagined. I will continue to refer people to Solomon, as the material, customer service, and whole experience has been unmatched.

Alex Coyne, Northwestern Mutual. Pensacola, FL

Completing the Series 7 was a requirement for my current position. After seeing the material and dedication Solomon Exam Prep put into the SIE material, I knew Solomon’s material would be perfect for me again. I had access to STC material and tried to go through it first but it was too content heavy and at certain points, very confusing. I decided to move back over to Solomon for the 7 and was blown away yet again by how great the material is. Solomon has figured out how to properly prepare people for this exam in my opinion. Solomon Exam Prep focuses on teaching the concept rather than bogging you down with so much material. THAT IS SO HELPFUL! Of course the material is important but it’s extensive. After using Solomon Exam Prep for the Series 7, I was able to fully understand the concepts which made it so much easier to select the best questions on the exams. All the other training programs bury you deep with content, which makes it almost impossible to understand the concepts. If you get questions on the exam that you have not seen before, only knowing specific material will not help you. But if you understand the concepts (like Solomon Exam Prep helped me do) you can break down the question and find the best answer based on your understanding of the concept as a whole. That’s a much better method and Solomon Exam Prep has figured this out! I strongly suggest buying the study guide. You won’t regret it!

Jared M. Albany, New York

When I was studying Series 7 TOP OFF, I enjoy reading everyone's reviews. It was another way of encouraging me. Thank you Solomon, help me pass my 7 ! I followed the four weeks schedule, didn't do anything more or less. Jeremy contacted me and share me with his strategy. I really appreciated it! Solomon helped me pass 63 two years ago. I am buying my s65 now! Thank you again for all your help!

Nora, PA

I passed the S7 TO first time it was introduced from last year. I have used several books and none of them could be as complete as this one. I am a living witness to the completeness of your course material. If that was not the case, I would not have passed this very difficult exam. I owe my success to your exam materials and no other book, from those I know have come close. I am going to study for the Series 66 through Solomon Exam Prep. If this can help me through, then I am sure many more people would also succeed.

Stalin Miki, Bankerslife, Miami, FL

I studied for the Series 7, 79, and 82 with Solomon Exam Prep, and I never scored lower than a 90% on the actual exam! The Study Guides are easy to understand, and the Online Exam Simulator really prepares you. I just purchased the Series 24 Essential Package today!

Michael McGregor, Focus Bankers, Charlotte, NC