Depository Trust & Clearing Corporation
 

Products & Services

 

Products & Services

Equities Clearance and Settlement

DTC-NSCC Consolidated Settlement Service

a service offering of The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC)
DTCC's Settlement Service facilitates end-of-day net settlement of a participant's net settlement obligations resulting from trading activity.

Overview

DTCC's Settlement Service facilitates end-of-day net settlement of a participant's net settlement obligations resulting from trading activity. The consolidated Settlement Service platform, which unites the settlement systems of The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC), was one of the underlying goals envisioned by the industry with the integration of DTC and NSCC in 1999.

Through these two subsidiaries, DTCC provides clearance and settlement services for virtually all trades done on the New York Stock Exchange, Nasdaq, the American Stock Exchange as well as on all regional exchanges and electronic communications networks (ECNs) in the United States.

Who can use the service

All DTC and NSCC participants who settle are eligible to use the service.

Benefits

The consolidated platform eliminates work for both banks and brokers, since they have only one settlement system to support and one end-of-day settlement process to complete.

Other benefits include:

  • one, unified settlement system
  • reduces risk and increases efficiency
  • cost savings
  • moves the industry closer to straight-through processing (STP) 

How the service works

A single set of functions on the system enables customers to view settlement information for both DTC and NSCC on the same screen, and provides them with one end-of-day netted settlement obligation report, in the form of a consolidated DTC/NSCC Participant Settlement Super Statement. Settling banks have the option of receiving a consolidated computer-to-computer facility (CCF) file.

Settling banks (banks that handle transferring money to and from DTC and NSCC on behalf of customers) need only make one FedWire payment to settle both obligations.

For more information:

Please call Relationship Management at 1 888.382.2721.


This description is for informational purposes only. This Service is governed by applicable Rules, Procedures, and Service Guides for each DTCC subsidiary, which contain the full terms, conditions, and limitations applicable to this Service.

Technical Documentation

Who to Call

Customer Service
1.888.382.2721

Membership
1.888.382.2721

Press Contacts
1.212.855.5473

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