Effective monopoly serving as the sole clearinghouse for the principal securities markets in the U.S. Rigorous risk management controls and strong financial safeguards protect it from member loss. Members have strong financial and business incentives to support National Securities Clearing Corp. (NSCC) because there is mutuality of risk The broader securities markets also support NSCC, as it is a core component of the capital markets infrastructure. High degree of operating leverage The ratings on NSCC incorporate the company's critical role of behind-the-scenes support to the U.S. securities markets, as well as its strong credit controls and financial safeguards that protect it from counterparty default. NSCC clears, settles, and guarantees equity, corporate bond, and municipal bond trades on the principal securities
