Depository Trust & Clearing Corporation

The Depository Trust & Clearing Corporation ( DTCC) is an American Clearinghouse. It has emerged from one of the Securities and Exchange Commission (SEC) and the U.S. Congress forced merger of the private companies Depository Trust Company (DTC ) and National Securities Clearing Corporation ( NSCC ) 1999.

Background

Through its wholly owned subsidiary EuroCCP DTCC also handles the clearing for the new electronic stock Turquoise. EuroCCP is also central counterparty (CCP) for the Multilateral Trading System NYSE Arca Europe and SmartPool of dark pools.

In autumn 2008, the DTCC 15.8% stake in LCH.Clearnet announced to increase and the company to take over completely, which DTCC would ascend the world's largest clearinghouse.

The subsidiary Fixed Income Clearing Corporation ( FICC ) is responsible for the clearing of fixed income securities in the United States.