Chairwoman Stabenow, Ranking Member Roberts, and Members of the Committee, thank you for inviting me today to testify at this hearing.
I am Larry Thompson, General Counsel of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is a participantowned and governed cooperative that serves as the critical infrastructure for the U.S. capital markets as well as financial markets globally.
Through its subsidiaries and affiliates, DTCC provides clearing, settlement and information services for virtually all U.S. transactions in equities, corporate and municipal bonds, U.S. government securities, mortgage-backed securities and money market instruments, and mutual funds and annuities. DTCC also provides services for a significant portion of the global over- the-counter (“OTC”) derivatives market.
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