Effective monopoly as the sole clearinghouse serving the principal securities markets in the U.S. Existence of strong financial safeguards and risk management controls to protect against member default Mutuality of risk, which provides strong financial and business incentives for member support Implied support from the broader securities markets community owing to National Security Clearing Corp.'s (NSCC) key importance to the infrastructure of the U.S. capital markets High degree of operating leverage The ratings on NSCC reflect its effective monopoly as the sole clearinghouse serving the U.S.' principal securities markets, as well as its crucial role in this function. The maintenance of robust risk management controls and procedures and the existence of safeguards that protect the clearing organization from member default
