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Options
- A
Buyer
- B
Exchange
-
Clearing Agency
Correct answer
- D
Clearing Bank
Why this is the answer
After a trade is executed, the seller instructs their Depository Participant (DP) to move securities to the broker’s account. The broker then transfers these to the Clearing Agency. On pay-out, the Clearing Corporation moves securities to the buying broker, who transfers them to the buyer.
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