GoldenGolden
Advanced Search
Depository Trust & Clearing Corporation

Depository Trust & Clearing Corporation

Depository Trust & Clearing Corporation is a New York City-based clearing house and post-trade financial services company offering clearing and settlement services to the financial markets.

The Depository Trust and Clearing Corporation (DTCC) is a user-owned and governed clearing house that helps participants with clearing services of a variety of asset classes. The Depository Trust and Clearing Corporation (DTCC) consists of several subsidiaries, including the Depositary Trust Company (DTC) and the National Securities Clearing Corporation (NSCC), to facilitate the movement of securities for net settlement. The corporation plays a central role in settling transactions between buyers and sellers of securities, reducing risks, and protecting the integrity of the global financial markets. The NSCC gives the DTCC the settlement guidelines and the DTCC ensures the smooth transfer of funds from the buyer to the seller.

History

The DTC was founded by William T. Dentzer in the 1970's to address the overwhelming amount of transaction recording and paperwork on Wall Street. It was combined with the NSCC in 1999 to form the DTCC, and has grown into solving other operational challenges along with other DTCC subsidiaries by standardizing, centralizing, and automating office procedures for processing financial transactions.

The DTCC serves as the centralized clearinghouse for US capital market and operates the global trade repository for the derivatives market, with data centers in sixteen countries.

DTCC Core Services
  • Institutional trade processing
  • Clearing services
  • Settlement and asset services
  • Wealth management services
  • Repository and derivatives services
  • Data services
  • Corporate Actions Processing
  • Issuer Services
  • Underwriting Services
  • Global Tax Services

Timeline

February 24, 2021
DTCC proposes a one-day settlement for stock trades
February 24, 2021
DTCC calls for swift trade settlements, following the Robinhood-GameStop debacle
January 20, 2021
The Depository Trust & Clearing Corporation (DTCC) adds new features to fund an industry information network.
December 8, 2020
DTCC buys Publicis Sapient's Compliance Management Reporting System (CMRS), which will be integrated with the DTCC Report Hub service to create a pre- and post- trade reporting solution.
2003
DTCC creates the Fixed Income Clearing Corporation (FICC)
1999
DTC becomes a subsidiary of DTCC.
1976
National Securities Clearing Corporation (NSCC), the original clearinghouse of DTCC, is established.

People

Name
Role
LinkedIn

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

Depository Trust Company

Michael Bodson

New York City, New York

Settlement Services

Corporate Actions Processing

Securities Processing

Issuer Services

Underwriting Services

Global Tax Services

Fixed Income Clearing Corporation

Michael Bodson

New York City, New York

Real-time trade matching

Clearing

Risk management and netting for trades in US Government debt issues, including repurchase agreements or repos.

National Securities Trade

Michael Bodson

New York City, New York

Clearing

Settlement

Risk management

Central counterparty services

Guarantee of completion

References

Page 1 of 2
Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.