The NSCC (National Securities Clearing Corporation) is a corporation in both the etymological and traditional sense of the word. Their products include FundSERV, FundSPEED (FundSERV that's high on XML), Networking, and a few others. Founded in 1976, the NSCC is the most common and loved clearing service in the US and Canadian securities industries. Owned (via merger) by the DTCC, the NSCC serves broker/dealers, banks (buy side firms) and fund firms (sell side firms). In 2001, the NSCC processed an average of around 14 million transactions a day. At the end of the day, the NSCC aggregates all the trades between particular firms, and settles the net amount to the correct firm. This drastically reduces the amount of money moves that were once required.