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What is DTCC?

April 26, 2017DTCC

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What is DTCC?

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“DTCC” stands for The Depository Trust Clearing Corporation”. DTCC is a a member of the U.S. Federal Reserve System. It is a limited trust company under New York State Banking law and a registered clearing agency with the SEC. The purpose of DTCC is to reduce costs associated with securities processing by financial intermediaries serving the public. They accomplish this by retaining custody of over 2 million securities and converting them to electronic files. The depository also provides the services necessary for the maintenance of the securities it has in custody.