Depository Trust & Clearing Corporation

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Depository Trust & Clearing Corporation

A clearing house that is the largest security depository and post-trade financial services company in the world. Based in New York, the DTCC settles the large majority of securities transactions in the United States, totaling $1.86 quadrillion in value in 2007. Along with its subsidiaries, the corporation provides services on mutual funds, insurance, corporate and municipal bonds, equities, mortgage- and government-backed securities, and various other derivatives. Its main competitors are Euroclear and Clearstream.