Mortgage-Backed Securities Clearing Corporation

Mortgage-Backed Securities Clearing Corporation
A wholly owned subsidiary of the Midwest Stock Exchange that operates a clearing service for the comparison, netting, and margining of agency-guaranteed MBSs transacted for forward delivery. The New York Times Financial Glossary
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( MBSCC)
"Founded" in 1979, MBSCC is the sole provider of automated post-trade comparison, netting, risk management and pool notification services to the mortgage-backed securities market. The organization is a registered clearing agency with the Securities and Exchange Commission and majority-owned by its members — MBS dealers, inter-dealer brokers and other non-broker/dealers. MBSCC provides its specialized services to major market participants active in various Government National Mortgage Association ( GNMA), Fannie Mae ( FNMA) and Federal Home Loan Mortgage Corporation ( FHLMC) MBS programs. Bloomberg Financial Dictionary

Financial and business terms. 2012.

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