Final answer:
The agency that receives and delivers payments and securities on behalf of both the buyer and seller side is called a Clearinghouse or a Central Counterparty (CCP). Clearinghouses or CCPs are regulatory agencies that facilitate the settlement of trades in financial markets. An example of a well-known clearinghouse is the Depository Trust & Clearing Corporation (DTCC).
Step-by-step explanation:
The agency that receives and delivers payments and securities on behalf of both the buyer and seller side is called a Clearinghouse or a Central Counterparty (CCP).
Clearinghouses or CCPs are regulatory agencies that facilitate the settlement of trades in financial markets. They act as intermediaries between the buyer and seller, ensuring the smooth transfer of payments and securities.
An example of a well-known clearinghouse is the Depository Trust & Clearing Corporation (DTCC), which provides clearing and settlement services for various financial instruments, including stocks, bonds, and derivatives.