Depository Trust Company


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Depository Trust Company (DTC)

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, executes book-entry deliveries (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.

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 Company (DTC)

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.
References in periodicals archive ?
The Company will make available to Note holders, through the Depository Trust Company, documents specifying the terms, conditions and procedures for surrendering and withdrawing Notes for repurchase.
The financial information for the second quarter ended July 1, 2006 is available from either the trustee, the LENS system made available by the Depository Trust Company to its participants or the secure website.
If the Broker/Dealer has deposited the shares with the Depository Trust Company ("DTCC"), shareholders should make sure that their broker contacts the DTCC directly to make arrangements with Pegasus' transfer agent on behalf of the broker/dealer.

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