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).

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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