The Depository Trust & Clearing Corporation
 |
|
| Private | |
| Industry | Finance |
| Genre | Holding company |
| Founded | DTCC (1999) – holding company for DTC (1973) and NSCC (1976) |
| Headquarters |
55 Water Street New York City, U.S. |
|
Number of locations
|
10 |
|
Key people
|
Robert Druskin, Executive Chairman, Michael C. Bodson, President & CEO |
| Services | financial |
| Revenue |
 US$960,249,000 (2009) |
|
US$ 104,774,000 (2009) |
|
| Total assets | US$3,573,790,000 |
| Total equity | US $501,326,000 |
| Owner | banks, brokers |
| Subsidiaries | NSCC DTC FICC DTCC Deriv/SERV LLC DTCC Solutions LLC EuroCCP Ltd. DTCC Loan/SERV LLC Avox Warehouse Trust Company LLC DTCC Derivatives Repository Ltd. |
| Website | www.dtcc.com |
The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.
DTCC was established in 1999 as a holding company to combine The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). User-owned and directed, it automates, centralizes, standardizes, and streamlines processes in the capital markets. Through its subsidiaries, DTCC provides clearance, settlement, and information services for equities, corporate and municipal bonds, unit investment trusts, government and mortgage-backed securities, money market instruments, and over-the-counter derivatives. It also manages transactions between mutual funds and insurance carriers and their respective investors.
In 2011, DTCC settled the vast majority of securities transactions in the United States and close to $1.7 quadrillion in value worldwide, making it by far the highest financial value processor in the world. DTCC operates facilities in the New York metropolitan area, and at multiple locations in and outside America.
Established in 1973, The Depository Trust Company (DTC) was created to alleviate the rising volumes of paperwork and the lack of security that developed after rapid growth in the volume of transactions in the U.S. securities industry in the late 1960s.
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