Legal & Regulatory
Financial Statements
2012
These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, and should be read in conjunction with the annual financial statements as of December 31, 2011.The Depository Trust Company
The Depository Trust Company (DTC) is a limited purpose trust company providing central securities depository and related services to members of the securities, banking and other financial industries (participants).
National Securities Clearing Corporation
National Securities Clearing Corporation (NSCC), a clearing agency registered with the U.S. Securities and Exchange Commission (SEC), provides various services to members of the financial community (participants), consisting principally of securities trade comparison, netting, risk management, clearance and settlement.
Fixed Income Clearing Corporation
Fixed Income Clearing Corporation (FICC), a clearing agency registered with the U.S. Securities and Exchange Commission (SEC), provides various services to members of the government and mortgage-backed securities markets (participants), consisting principally of automated real-time trade comparison, netting, settlement, trade confirmation, risk management and electronic pool notification.