Qualified Special Representative Agreement - QSR

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).

BREAKING DOWN '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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RELATED FAQS
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    The correct answer is D). When an agent moves from one broker-dealer's employ to another, all parties are responsible for ... Read Answer >>
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    The correct answer is b. Under these circumstances, the broker-dealer is not required to register with the state and the ... Read Answer >>
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