Legal & Regulatory
Rules and Procedures
This section provides rules and procedures from DTCC's subsidiaries as well as fee information, in the form of guides to NSCC and DTC Fee Schedules.
To view the rules and procedures that govern each subsidiary's operations, including information on default procedures or insolvency, please click on the rules, by-laws and procedure documents below.
DTC, FICC and NSCC are registered as clearing agencies with the U.S. Securities and Exchange Commission ("SEC").
The Depository Trust & Clearing Corporation (DTCC)
DTCC, through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks.
By-Laws of The Depository Trust & Clearing Corporation (effective May, 2010)
The Depository Trust Company (DTC)
DTC is a limited-purpose trust company organized under the New York Banking Law, and is a member of the Federal Reserve System.
Rules, By-Laws and Organization Certificate of The Depository Trust Company (effective March 2013)
National Securities Clearing Corporation (NSCC)
NSCC is regulated by the U.S. Securities and Exchange Commission (SEC).
Rules and Procedures of National Securities Clearing Corporation (effective May 22, 2013)
Fixed Income Clearing Corporation (FICC) - Government Securities Division
FICC is registered with and regulated by the U.S. Securities and Exchange Commission (SEC).
The outside counsel legal opinion on GSD Rule 22B is available to GSD netting members. Please contact dtemple@dtcc.com or npoulos@dtcc.com to obtain a copy.
FICC-Government Securities Division Rulebook - all through April 15, 2013
FICC - Government Securities Division - CME Cross-Margining Agreement (as incorporated in the rules; effective August 24, 2012)
FICC - Government Securities Division - U.S. Department of the Treasury: Reaffirmation of Relief Relating to Certain Capital and Customer Protection Rules (effective May 2006)
NYPC Cross-Margining Agreement (effective August 7, 2012)
Fixed Income Clearing Corporation (FICC) - Mortgage-Backed Securities Division
The outside counsel legal opinion on CCLFTM is available to MBSD clearing members. Please contact dtemple@dtcc.com or npoulos@dtcc.com to obtain a copy.
Fixed Income Clearing Corporation - Mortgage - Backed Securities Division Clearing Rules (effective January 7, 2013)
Fixed Income Clearing Corporation - Mortgage-Backed Securities Division EPN Rules (effective April 8, 2008)
General Policies Regarding the Insolvency of an MBSD Clearing Member