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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
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.
Official notification of the redemption will be delivered to all VMTP shareholders at a later date through the Depository Trust Company (DTC).
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.
The funds will deliver official notification of the redemption to VMTP shareholders at a later date through the Depository Trust Company (DTC).
Payment of the redemption price will be made through the facilities of Depository Trust Company on Oct.
The redemption price for the notes will be paid through the facilities of The Depository Trust Company.
Global Banking News-February 15, 2018--The Victory Bancorp becomes Depository Trust Company eligible

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