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Qualified Special Representative Agreement (QSR)

What is '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).

Explaining 'Qualified Special Representative Agreement - QSR'

This method of clearing trades means simpler processing, cheaper transaction costs, and extended hours of service.


Further Reading


The role of angels in technology SMEs: A link to venture capital
www.tandfonline.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

Keeping informed during times of economic downturn: the trusted amateur as a preferred source of financial informationKeeping informed during times of economic downturn: the trusted amateur as a preferred source of financial information
www.tandfonline.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

Factors influencing the burden of health care financing and the distribution of health care benefits in Ghana, Tanzania and South AfricaFactors influencing the burden of health care financing and the distribution of health care benefits in Ghana, Tanzania and South Africa
academic.oup.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

Corporate disclosure, cost of capital and reputation: Evidence from finance directorsCorporate disclosure, cost of capital and reputation: Evidence from finance directors
www.sciencedirect.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

The impact of the economic recession on well‐being and quality of life of older peopleThe impact of the economic recession on well‐being and quality of life of older people
onlinelibrary.wiley.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

Financial distress during relocation for treatment of a hematological malignancy: findings for social workFinancial distress during relocation for treatment of a hematological malignancy: findings for social work
www.tandfonline.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

Microcredit for enterprise in the UK as an 'alternative'economic spaceMicrocredit for enterprise in the UK as an 'alternative'economic space
www.sciencedirect.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …

'In a perfect world it would be great if they didn't exist': How A ustralians experience payday loans'In a perfect world it would be great if they didn't exist': How A ustralians experience payday loans
onlinelibrary.wiley.com [PDF]
… The non-financial contributions of angels may better qualify such firms for being able to … business (especially marketing) acumen to the technical knowledge of founders, better qualifying the firm … response rate to the questionnaire was relatively high, 24% of eligible businesses.5 …



Q&A About Qualified Special Representative Agreement (QSR)


How does this method of clearing trades achieve simpler processing, cheaper transaction costs, and extended hours of service?

This method achieves simpler processing by sending trades directly to the National Securities Clearing Corporation (a subsidiary of the DTCC). It achieves cheaper transaction costs because there are no fees associated with using this system. Extended hours of service means that it can be used for after-hours trading as well.

Who owns or controls the National Securities Clearing Corporation?

The DTCC owns or controls it. They are also known as Depository Trust Company which provides securities settlement services in United States financial markets and other global markets where U.S.-issued securities trade."

What is the National Securities Clearing Corporation?

The National Securities Clearing Corporation is a subsidiary of the DTCC.

What is a Qualified Special Representative Agreement?

A Qualified Special Representative Agreement is an agreement between broker-dealers to clear trades without the interaction of the NASDAQ ACT system.

What does "subsidiary" mean in context with the National Securities Clearing Corporation?

Subsidiary means that it was created by another company and belongs to them but operates independently from them. In this case, it refers to how they operate independently from NASDAQ's ACT system.