Qualified Special Representative Agreement - QSR
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Definition of 'Qualified Special Representative Agreement - QSR'
An agreement between broker-dealers to clear trades without the interaction of the NASDAQ ACT system. This is achieved by sending trades directly to the National Securities Clearing Corporation (a subsidiary of the DTCC).
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Investopedia explains 'Qualified Special Representative Agreement - QSR'
This method of clearing trades means simpler processing, cheaper transaction costs, and extended hours of service.
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