DTCC's customer base extends to thousands of companies within the global financial services industry. DTCC serves brokers, dealers, institutional investors, banks, trust companies, mutual fund companies, insurance carriers, hedge funds and other financial intermediaries - either directly or through correspondent relationships. Increasingly, DTCC's customers operate both in the U.S. and overseas, where DTCC continues to provide them with services.
In the U.S., DTCC provides critical services to the markets for U.S. Government and mortgage-backed securities, and to all U.S. equity marketplaces, including the New York Stock Exchange, The Nasdaq Stock Market, the American Stock Exchange, and regional U.S. markets, as well as electronic trading and communications networks (ECNs).
As our customers look to move beyond traditional trading in equities and fixed income securities to more derivative instruments, we continue to work with them, responding to where market forces are driving their businesses. For instance, we leveraged our experience and technology to rapidly build Deriv/SERV to automate and lower risk for the growing global market in credit default swaps and other over-the-counter (OTC) derivative instruments. The point is, of course, that by developing services in conjunction with customers, we partner with our customers and continue to earn their business.
DTCC's size has also not prevented us from being quick to market or innovative. In fact, the breadth of our experience across product lines and the need to build different technology solutions for diverse market sectors offer a distinct competitive advantage. We've been able to repurpose technology and leverage existing software design to minimize our technology development costs.
We look forward to the continued growth and development of additional services as we work to anticipate our customers' needs and the changing nature of the industry. In our increasingly global industry, we also look forward to collaborating and partnering more closely with our colleagues around the world.
As an industry-owned corporation, DTCC and its subsidiaries operate on an "at-cost basis," charging transaction fees for services and then returning excess revenue to its members. DTCC is owned by its member firms including international broker/dealers, correspondent and clearing banks, mutual fund companies and investment banks.
All services provided through the clearing corporations and depository are registered with and regulated by the U.S. Securities and Exchange Commission (SEC). The depository is also a member of the U.S. Federal Reserve System and a limited purpose trust company under New York State banking law.
DTCC hosted its second annual forum for senior executives of customer firms on Oct. 28, 2009 to enhance outreach and communication at the senior level of customer firms.Read More
DTCC's rebates and fee reductions reflect its economies of scale, critical mass and tight fiscal management.Read More
DTCC's clearing and settlement systems have been built with the flexibility to accommodate practices in other markets.Read More