Depository trust company (DTC),
Definition of Depository trust company (DTC):
The settlement services that the DTC provides are designed to lower costs and risk and increase the efficiency of the market. The DTC offers net settlement obligations at the end of each day from trading in equity, debt, and money market instruments. The DTC also provides asset servicing, along with a range of services.
The Depository Trust Company (DTC) is one of the world's largest securities depositories. Founded in 1973 and based in New York City, the DTC is organized as a limited purpose trust company and provides safekeeping through electronic record-keeping of securities balances. It also acts as a clearinghouse to process and settle trades in corporate and municipal securities.
Organization that acts as central depository for securities certificates and through which member firms can transfer securities electronically via computerized bookkeeping entries.
How to use Depository trust company (DTC) in a sentence?
- The DTC's automated system lowers costs and improves accuracy.
- In addition to safekeeping, record-keeping, and clearing services, the DTC provides direct registration, underwriting, reorganization, and proxy and dividend services.
- As of July 31, 2017, the DTC held more than 1.3 million current securities issues valued at $54.2 trillion and issued in the U.S. and 131 countries and territories.
- Founded in 1973, the Depository Trust Company is one of the world's largest securities depositories.
Meaning of Depository trust company (DTC) & Depository trust company (DTC) Definition