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Sell side is a term used in the financial services industry to mean providing services to sell securities. Firms or institutions on this side include investment banks, brokerages and market makers, who facilitate offering securities to investors, conducting research and creating financial products.
Velocity is a technology-driven, self-clearing broker/dealer with a mission to combine high-tech infrastructure with high-touch service. The company supports institutional clients including broker/dealers, hedge funds, family offices and proprietary trading firms.
Interactive Brokers offers direct market access, omnibus and non-disclosed broker accounts, and provides clearing services. The firm has operations in 34 countries and 27 currencies and has 2.6 million institutional and individual brokerage customers, with total customer equity of US$426 billion as of December 31, 2023. [1]
Broker-dealers are companies that trade securities for customers (i.e., brokers) and for their own accounts (i.e., dealers). [2] The rule requires those firms to value their securities at market prices and to apply to those values a haircut (i.e., a discount) based on each security's risk characteristics. [3]
The Depository Trust & Clearing Corporation is the firm that actually processes brokerage trades. However, stock trades don’t settle until two days after they are made.
Its clearing members serve both professional traders and public customers and are approximately 115 of the largest U.S. broker-dealers, futures commission merchants and non-U.S. securities firms. OCC also serves other markets, including those of trading commodity futures, commodity options, and security futures.
In trading, clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying transaction. It involves the management of post-trading, pre-settlement credit exposures to ensure that trades are settled in accordance with market rules, even if a buyer or seller should become insolvent prior to settlement.
The best brokerage account depends on your needs, like trading frequency, investment types and user experience. Some of the top brokerage accounts to consider are E-Trade, Charles Schwab and Fidelity.