Depository Trust Company

From MarketsWiki
Jump to navigation Jump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.



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:

Key People[edit]

Michael C. Bodson, President and CEO

References[edit]