NEW YORK (Standard&Poor's CreditWire) March 5, 2001--Standard&Poor's today assigned its triple-'A' long-term and 'A-1'-plus short-term counterparty credit ratings to National Securities Clearing Corp. (NSCC). The outlook is stable. NSCC's ratings incorporate the critical nature of its behind-the-scene support to the U.S. securities markets, as well as its strong credit controls and financial safeguards that protect it from counterparty default. NSCC is an essential component of the U.S. capital markets infrastructure in that it clears, settles, and guarantees trades on the principal securities marketplaces. In addition to ensuring the safety and soundness of the U.S. securities markets, NSCC promotes market efficiency and reduces processing costs for its members. NSCC settles only compared trades or trades received as
