Description of National Securities Clearing Corporation
[5] NSCC is a clearing agency registered under the Securities Exchange Act. The RTTM service will be provided on behalf of NSCC by the Fixed Income Clearing Corporation (FICC), an affiliate of NSCC, via a service agreement. FICC already has implemented RTTM for Government Securities and Mortgage-Backed securities trade processing. [6] Surveillance data is made available to regulators with authority to enforce MSRB rules, including the NASD and the SEC. [7] See, e.g., "Board to Proceed with Pilot Program to Disseminate Inter-Dealer Transaction Information," MSRB Reports, Vol. 14, No. 1 (January 1994).