Depository Trust & Clearing Corporation
American financial services company / From Wikipedia, the free encyclopedia
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The Depository Trust & Clearing Corporation (DTCC) is an American financial market infrastructure company that provides clearing, settlement and trade reporting services to financial market participants. 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.
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Company type | Private |
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Industry | Finance |
Genre | Holding company |
Founded | DTCC (1999) – holding company for DTC (1973) and NSCC (1976) |
Headquarters | 570 Washington Blvd , Jersey City, NJ U.S. |
Number of locations | 10 |
Key people | Kevin Kessinger, Non-executive Chairman Frank La Salla, President and CEO |
Services | Financial |
Revenue | US$1,784,368,000 (2018)[1] |
US$299,713,000 (2018)[1] | |
Total assets | US$46,971,101,000 (2018)[1] |
Total equity | US$2,332,235,000 (2018)[1] |
Owner | Banks, brokers |
Number of employees | 4,300[2] |
Subsidiaries | NSCC DTC FICC DTCC Deriv/SERV LLC DTCC Solutions LLC EuroCCP Ltd. DTCC Loan/SERV LLC Warehouse Trust Company LLC DTCC Derivatives Repository Ltd. |
Website | www |
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.[3] 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[4][5][6] in value worldwide, making it by far the highest financial value processor in the world.[6] DTCC operates facilities in the New York metropolitan area, and at multiple locations in and outside the United States.[7]