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Qualified Special Representative Agreement - QSR
What does it mean?
An agreement between broker-dealers to clear trades without the interaction of the NASDAQ ACT system. This is achieved by sending trades directly to the National Securities Clearing Corporation (a subsidiary of the DTCC).
In Other Words...
This method of clearing trades means simpler processing, cheaper transaction costs, and extended hours of service.
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Related Terms
ACT | Clearing House | DTC | Nasdaq
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