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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.

Depository Trust and Clearing Corporation (DTCC).

The DTCC is the world's largest securities depository, holding trillions of dollars in assets for the members of the financial industry that own the corporation. It is also a national clearinghouse for the settlement of corporate and municipal securities transactions.

The DTCC, a member of the Federal Reserve System, was created in 1999 as a holding company. It has two primary subsidiaries, the Depository Trust Company (DTC) and the National Securities Clearing Corporation (NSCC).

It is also the holding company for the Emerging Market Clearing Corporation (EMCC) and the Fixed Income Clearing Corporation (FICC).

The FICC was formed as a merger of the Government Security Clearing Corporation (GSCC) and the Mortgage Backed Security Clearing Corporation (MBSCC).

References in periodicals archive ?
DTCC Apprentices will develop technical skills, working alongside experienced staff, and study towards a vocational qualification, while improving their Math, English and ICT skills, over a period of one-to-two years.
In 2003, we started operations in Manila with just 10 employees," stated Nellie Dagdag, Executive Director of DTCC Asia.
According to DTCC, the Singapore GTR will serve as a hub for supporting regulatory reporting for other jurisdictions in the region including Australia.
DTCC Managing Director, Financial Planning & Analysis, who had been a DCV board member since 2010.
Through its subsidiaries, DTCC, a financial-services post-trade infrastructure organization, acts as a central counterparty, providing trade guarantee, netting and risk-management services for equity and debt transactions from U.
DTCC also said that it is applying for a trade repository license with the Monetary Authority of Singapore to establish a Singapore-based global OTC derivatives trade repository to support trade reporting in Singapore's financial markets.
For the first twelve weeks of the pilot, DTCC will send out sample ISO 20022 messages to the pilot participants.