Two types of clearing agencies

• Clearing corporations and depositories
• Self-regulatory organizations
• Required to register with the SEC

Clearing corporations

• Compare member transactions
  (or report to members the results of comparison operations)
• Clear those trades
• Prepare instructions for automated settlement
• Act as intermediaries in making those settlements

• National Securities Clearing Corporation
• Fixed Income Clearing Corporation
• Options Clearing Corporation

Depositories

• Hold securities certificates in bulk form for their participants
• Maintain ownership records for such securities

• Depository Trust Company  DTC

SEC webpage

Exchange Act § 3(a)(23)

Form CA-1  Registration