DTCC's subsidiary, The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making "book-entry" changes to ownership of the securities. DTC provides securities movements for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.

In 2008, DTC settled transactions worth almost $455 trillion, and processed 316.6 million book-entry deliveries. In addition to settlement services, DTC brings efficiency to the securities industry by retaining custody of almost 3.5 million securities issues worth about $27.6 trillion, including securities issued in the US and more than 110 other countries.

View service offerings of The Depository Trust Company (DTC) in the Products & Services section.

Services include:

• Custody & Safekeeping Services
• Underwriting Services
• Deposit & Withdrawal Services
• Dividend, Reorganization and Proxy Services
• Restricted Securities Family of Services
• Direct Registration Service

DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission.