DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executesbook-entrydeliveries (valued at over $116 trillion in 2000) records book-entry pledges of those securities, and processes related income distributions DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law, a registered clearing agency with the Securities and Exchange Commission, and is owned by the Depository Trust and Clearing Corporation (DTCC), which is in turn owned primarily by most of the major banks, broker-dealers, and exchanges on Wall Street.
A national depository for security certificates that records, maintains, and transfers securities for member firms. The DTC seeks to reduce the movement of certificates by arranging for computerized transfers.
It added that all series 2019 term preferred shareholders were delivered official notification of the redemption through The Depository Trust Company (DTC).
The bank, brokerage or nominee who holds the shares must advise the Depository Trust Company as to their full and fractional share requirements by 19 December 2018 and written notification for the election of cash by registered shareholders, must also be received by Computershare before the same day.
According to the company, the payment of the redemption price and surrender of the notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.