TRADE RECEIVABLES (NET) Definition

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TRADE RECEIVABLES (NET) are all accounts from trade, net of allowance for doubtful accounts.

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CLEARING is the process of reporting a trade to ACT for comparison of the details of the transaction between brokers prior to final settlement; the final exchange of securities for cash on delivery. Clearing operations, such as the National Securities Clearing Corporation (NSCC), facilitate the validation, delivery, and settlement of securities transactions. Trades are either reported by the broker to the clearing corporation directly or through a third party, usually another brokerage firm if a broker does not have a direct relationship with a clearing corporation.

BROKER-DEALER is any person or institution, other than a bank, engaged in the business of buying or selling securi­ties on its own behalf or for others.

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