Depository Trust and Clearing Corporation

Depository Trust and Clearing Corporation (DTCC)

The Depository Trust and Clearing Corporation (DTCC), through its subsidiaries, provides post-trade clearance, settlement, custody and information services for equities, corporate and municipal debt, money market instruments, American depositary receipts, exchange-traded funds, unit investment trusts, mutual funds, insurance products and other securities. The National Securities Clearing Corporation (NSCC) subsidiary, which acts as a central counterparty (CCP), provides trade guarantee, netting and risk management services for equity and debt transactions from all U.S. stock exchanges and markets. The Depository Trust Company(DTC) subsidiary has custody of and provides asset servicing for millions of securities issues of issuers from the U.S. and over 60 other countries. DTC serves as a major clearinghouse for institutional post-trade settlement. DTCC's two subsidiary businesses have Standard and Poors' highest rating: AAA.
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 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).

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
She was previously an executive with the Depository Trust and Clearing Corporation and spent nearly 20 years in a variety of roles at Deutsche Bank AG/Bankers Trust Corporation, serving as deputy CEO for Deutsche Bank North America from 2009-2012.
In addition, the company is a self-clearing member of the Depository Trust and Clearing Corporation ("DTCC").
Before that, he served as senior vice president of ethnic consumer products at International Discount Telecommunications (IDT), director of strategic planning at Depository Trust and Clearing Corporation, senior associate at Israel Seed Partners in Jerusalem, and vice president of marketing and strategic planning at Citibank in Mexico City and Monterrey.
Nearly over USD346m of credit default swaps are outstanding on Anglo Irish Bank debt, the report said, citing the Depository Trust and Clearing Corporation.
With the Depository Trust and Clearing Corporation's October decision to relocate 1,600 employees from an office at 55 Water Street in Manhattan's Financial District to New Jersey, commercial real estate experts are suggesting that other large tenants may also follow suit.
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