A nonprofit organization that provides trading and settlement services for government securities, such as U.S. Treasury bonds and bills and municipal bonds. It brings operational and risk management benefits to the government securities market by providing automated trade comparison and settlement services for U.S. government securities. The GSCC is registered with and regulated by the Securities and Exchange Commission. It was established in September 1986 by the National Securities Clearing Corp. as a wholly-owned subsidiary, capitalized with $1 million. It was incorporated in November 1986 under New York law.