What is the new DTCC rule?

What rules are DTCC changing? On March 16, clearing firm DTCC officially proposed a rule that would eliminate a key requirement for public companies that are compliant with SEC standards. This means that DTCC is basically trading one reporting requirement for another.

What does the DTCC do?

The Depository Trust and Clearing Corporation (DTCC) is a financial services company that provides clearing and settlement services for the financial markets. The DTCC settles most securities transactions in the U.S.


One of our principal subsidiaries, The Depository Trust Company (DTC), is the world’s largest central securities depository (CSD) and is also the first stop for almost all new US securities. In 2009, DTCC settled nearly $1.48 quadrillion in securities transactions.

What is the difference between DTCC and NSCC?

National Securities Clearing Corporation (NSCC) is a subsidiary of Depository Trust & Clearing Corporation (DTCC) that provides centralized clearing, risk management, information, and settlement services to the financial industry. This reduces their financial exposure and capital requirements.

Is the DTCC regulated?

DTC, FICC and NSCC are registered as clearing agencies with, and regulated by, the U.S. Securities and Exchange Commission.

Is NSCC 002 approved?

On June 21, 2021, NSCC received regulatory approval of the proposed rule change SR-NSCC-2021-002 and advance notice SR-NSCC-2021-801 (“Filings”) that proposed to amend NSCC’s Supplemental Liquidity Deposit (“SLD”) requirements.

How much is DTCC worth?

Depository Trust & Clearing Corporation

Type Private
Total assets US$46,971,101,000 (2018)
Total equity US$2,332,235,000 (2018)
Owner Banks, brokers
Number of employees 4,300

How does the DTCC make money?

The Depository Trust and Clearing Corporation (DTCC) is a user-owned cooperative that helps participants with clearing services of different asset classes. Clearing firms may earn profits in their intermediary role, such as security from a seller and cash from a buyer.

Is DTCC a Fortune 500 company?

The designation is a first for DTCC, which has offices in Jersey City, Boston, Dallas and Tampa in the United States and many more around the globe. DTCC was ranked as one of the top 500 companies across 25 industries.

Is the DTCC for profit?

How does DTC make money?

The DTC holds trillions of dollars worth of securities in custody, including corporate stocks and bonds, municipal bonds, and money market instruments. It settles funds at the end of each trading day using the National Settlement Service.

Is the DTCC insured?

Insurance Profile is available to firms that are members of DTCC’s National Securities Clearing Corporation (NSCC). Visit dtcc.com/client-center for information on how to become a member of NSCC.

What do you need to know about DTCC?

Connects industry-leading front, middle and back office software platforms with DTCC’s continually expanding and improving range of solutions. Our expertise. Your organization. Access DTCC’s combined expertise and experience to optimize your post-trade ecosystem.

How does the Depository Trust and Clearing Corporation ( DTCC ) work?

The DTCC processes trillions of dollars of securities on a daily basis. As the centralized clearinghouse for more than 50 exchanges and equity platforms, the DTCC settles transactions between buyers and sellers of securities and plays a critical role in automating, centralizing, standardizing, and streamlining the world’s financial markets.

What should I know about the series 7 exam?

The Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four major job functions of a general securities representative. The table below lists the allocation of exam items for each major job function.

Who is the CEO of the DTCC Corporation?

Mike Bodson, DTCC President & CEO reflects on the 20th anniversary of 9/11. In this article from Securities Finance Times, DTCC’s Matt Johnson explains how we are helping the market prepare for the upcoming regulation.