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

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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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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IMS

 

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

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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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Money Market Instrument 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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