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The Depository Trust Company (DTC)

DTCC's subsidiary, The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making "book-entry" changes to ownership of the securities.

DTC brings efficiency to the securities industry by retaining custody of more than 1.4 million active securities issues valued at US$87.1 trillion, including securities issued in the US and more than 131 countries and territories.

DTC provides securities movements for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.

DTC's core services include:

DTCC's Settlement Services, offered through DTC, reduce cost and risk and boost efficiencies in the marketplace by providing end-of-day net settlement obligations for clients resulting from trading activity in equities, debt and money market instruments. Asset Servicing, also offered through DTC, offers a broad range of services for underwriting, custody, corporate actions, dividend, proxy and reorganization services, as well as the electronic registration and transfer of securities.

DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.