Depository Trust (DTC)
DTCC Registration (The Depository Trust & Clearing Corporation)
What is the The Depository Trust & Clearing Corporation (DTCC)
For more than 30 years, DTCC has helped automate and streamline that various processes that are critical to the safety and soundness of the capital markets.
DTCC, via its subsidiaries, provides the following: clearing, settlement and information services for equities; corporate and municipal bonds; government and mortgage-backed securities; money market instruments as well as over the counter derivatives. Additionally, DTCC is an industry leader in providing the processing of mutual funds and insurance transactions, as well as linking funds and carriers with their distribution networks.
DTCC’s depository provides custody and asset servicing for approximately 3.5 million securities issues from the United States. Overseas, DTCC has provided this services to approximately 110 countries and territories, valued at $28 trillion. In 2008, DTCC settled more than $1.88 quadrillion in securities transactions.
DTCC operates through seven subsidiaries – each of which serves a specific segment and risk profile within the securities industry:
• The Depository Trust Company (DTC) – See Below
• Fixed Income Clearing Corporation (FICC)
• National Securities Clearing Corporation (NSCC)
• DTCC Loan/SERV LLC
• DTCC Deriv/SERV LLC
• DTCC Solutions LLC
• EuroCCP Ltd.
DTC – The Depository Trust Company
DTCC’s subsidiary, The Depository Trust Company, was established in 1973. It was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making “book entry” changes to ownership of the securities. DTC provides securities movements for NSCC’s net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.