The Boards of Directors (collectively, the “Board”) of The Depository Trust & Clearing Corporation (“DTCC”), The Depository Trust Company (“DTC”), Fixed Income Clearing Corporation (“FICC”), and National Securities Clearing Corporation (“NSCC”) (DTC, FICC, and NSCC together, the “SIFMUs” and collectively with DTCC, the “Companies”) are responsible for providing direction to and overseeing the conduct of the affairs of the Companies in the interests of the Companies, their shareholders and other relevant stakeholders including investors, issuers, participants, participants’ customers, other persons that access the national system for clearance and settlement indirectly, and regulators of the financial markets in which the Companies serve.
The Board will discharge its oversight responsibilities and exercise its authority in a manner, consistent with applicable legal and regulatory provisions and with regulatory expectations of a systemically important market infrastructure, that:
- Promotes the safe, sound and efficient operation of DTCC and its subsidiaries, including the prompt and accurate clearance and settlement of securities and related activities conducted by its registered clearing agency subsidiaries, the SIFMUs;
- Safeguards the securities and funds in the custody of the SIFMUs and protects investors and the public interest;
- Fosters the safe, sound and efficient operation of services provided by DTCC, the SIFMUs and other DTCC subsidiaries supporting the global system for processing transactions in financial instruments and related activities;
- Fosters cooperation and coordination between parties engaged in the clearance and settlement of securities transactions;
- Seeks to develop the services and businesses of DTCC, the SIFMUs and other DTCC subsidiaries in a manner promoting further safety, soundness and efficiency broadly in the global system for processing transactions in financial instruments and related activities; and
- Leverages each of the Companies’ role as a leader in financial services with respect to risk management and systemic risk management, promoting sound practices in governance and in transparency to its membership and user community and in its role as a systemic component of the financial market infrastructure supporting the operation of orderly, fair, and efficient markets in the interest of the investing public as required under Section 17A of the Securities Exchange Act of 1934.
DTCC Board of Directors Mission Statement and Charter (October, 2024)