Definition of Depository Trust And Clearing Corporation
The Depository Trust and Clearing Corporation (DTCC), through itssubsidiaries, provides post-trade clearance, settlement, custody andinformation services for equities, corporate and municipal debt,money market instruments, American depositary receipts, exchange-tradedfunds, unit investment trusts, mutual funds, insurance products andother securities. The National Securities Clearing Corporation (NSCC)subsidiary, which acts as a central counterparty (CCP), providestrade guarantee, netting and risk management services for equity and debttransactions from all U.S. stock exchanges and markets. The Depository Trust Company(DTC) subsidiary hascustody of and provides asset servicing for millions of securitiesissues of issuers from the U.S. and over 60 other countries. DTC serves as a major clearinghouse for institutionalpost-trade settlement. DTCC's two subsidiary businesseshave Standard and Poors' highest rating: AAA.