SIE - Securities Industry Essentials Exam
A Clearing Firm is
The company that acts as an agent or principal in a securities transaction and charges commissions or markups.A
The company that changes the name on a stock certificate for transactions and records it on the official master shareholder listing.B
The company that handles orders to buy and sell securities and maintains custody of securities and other assets.C
The company that quotes both a buy and a sell price in a security held in inventory, hoping to make a profit on the bid-offer spread.D
( C ) is the Clearing Firm. ( A ) is a broker-dealer. ( B ) is a transfer agent. ( D ) is a market maker.