AMFI EXAM tips series 11

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This chapter contains the following topics:

The National Securities Clearing Corporation
Trading
Pricing
Money Movements
Trade Corrections

The National Securities Clearing Corporation (NSCC) is the nation’s largest registered securities clearing corporation, and offers their services to brokerage firms, dealers, banks, and mutual fund distributors throughout the United States and Canada.
Similarly in india we have NSDL and CDSL
Pricing a mutual fund is a daily process performed by the fund accounting agent for each fund. Pricing consists of establishing the daily value of the three primary components of the NAV formula (assets, liabilities and outstanding shares) and then calculating the NAV.
Settlement is defined as the point at which money is exchanged for securities. The settlement function of trading is the flow of money between shareholders and various mutual funds.
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