Settlement

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The Depository Trust Company (DTC), the central securities depository subsidiary of DTCC, provides settlement services for virtually all broker-to-broker equity and listed corporate and municipal debt securities transactions in the U.S., as well as institutional trades, money market instruments and other financial obligations. Settlement, a consolidated end-of-day process and the final step of a securities trade, completes the transfer between trading parties of securities ownership and cash.

Products & Services

Canadian-Link Services

 

DTCC’s Canadian-Link Services with the CDS Clearing and Depository Services Inc. (CDS) provide a broad range of services supporting settlement and corporate actions including dividend, redemption and reorganization services.

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SMART/Track Services - Buy-ins

 

SMART/Track provides a centralized communications hub for the transmission of various message types between participants.

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SMART/Track Services - CALNS

 

SMART/Track Corporate Action Liability Notification Service,  a centralized communications hub, tracks liability notifications between participants on voluntary action events.

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Equity, Corporate and Muni Debt

 

DTC’s Settlement Service for equity, corporate debt and municipal debt securities transactions consolidates and facilitates end-of-day net funds settlement of a participant’s net debits and credits.

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Money Market Instrument Transaction Processing

 

Money Market Instruments (MMIs) are one of the largest asset classes in terms of value settled by DTC and play a critical role in the financial industry.

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Commercial Paper and Institutional Certificates

 

The DTCC Commercial Paper and Institutional Certificates of Deposit Data Service (CP/Institutional CD), a service offering of DTCC Solutions LLC (DTCC Solutions), is a compiled data set of CP/Institutional CD transactions that are settled at The Depository Trust Company (DTC).

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PIM

 

The Pre-Issuance Messaging Service (PIM) enables Dealers and issuing paying agent (IPA) banks that service money market instrument (MMI) securities to communicate issuance instructions prior to market issuance.

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EPIM

 

The European Pre-Issuance Messaging service (EPIM) is a robust ISIN request and allocation system that automates and improves the process of issuing designated European Money Market Instruments.

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Pledge Service

 

The Pledge Service, offered by DTC, facilitates the pledging of collateral and the return of collateral pledged between the pledgor and the pledgee to which the collateral is being pledged.

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SMART/Track - Agency Lending Disclosure

 

SMART/Track for Agency Lending Disclosure is a centralized communications hub that transmits open loan data between lenders and borrowers.

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Stock Loan Recalls

 

SMART/Track provides a centralized communications hub for the transmission of various message types between participants.

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Risk Management

 

DTCC's Risk Management Controls identify, measure and monitor the credit and liquidity risks associated with end-of-day net funds settlement of securities transactions. 

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IMS

 

The Depository Trust Company’s Inventory Management System (IMS) enables participants to centrally manage their settlement deliveries.

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End of Day Settlement

 

End-of-day net funds settlement is conducted through settling banks that act on behalf of participants, so that funding occurs via a single transmission, called the National Settlement Service (NSS), to the Federal Reserve.

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ID Net

 

Institutional Delivery Netting Service (ID Net) extends the benefits of netting to institutional trade settlement.

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