Depository Trust Company
 |
|---|
| Depository Trust Company | |
| Founded | 1973 |
|---|---|
| Headquarters | New York |
| Key People | Michael C. Bodson, President and CEO |
| Website | http://www.dtcc.com/about/subs/dtc.php |
The Depository Trust Company is a clearing and settlement institution, established in 1973, that partnered with the National Securities Clearing Corp. to create the DTCC. The firm was created to reduce costs and provide marketplace efficiencies by making book-entry changes to ownership of securities. The DTC provides securities movements for NSCC's net settlements, and settlement for institutional trades, as well as money market instruments.[1] The DTC is now a subsidiary of the DTCC.
In 2009, DTC settled transactions worth more than $299 trillion, and processed 299.5 million book-entry deliveries.
History[edit]
The DTC, known as the the depository arm of the DTCC, was created in response to the paperwork crisis that developed in the securities industry in the late 1960s and early 1970s that stemmed from the overburdening paper in the securities industry when volumes on the NYSE were skyrocketing.[2]
Products and Services[edit]
Services include:
- Custody & Safekeeping Services
- Underwriting Services
- Deposit & Withdrawal Services
- Dividend, Reorganization and Proxy Services
- Restricted Securities Family of Services
- Direct Registration Service
Key People[edit]
Michael C. Bodson, President and CEO
References[edit]
- ↑ About the DTC. DTCC.
- ↑ Products and Services. DTCC.