Depository Trust Company (DTC)

The Depository Trust Company referred to as the “DTC” was established in 1973, it was created to reduce costs and provide efficiencies by immobilizing securities and making “book-entry” changes to show ownership of the securities. DTC provides securities movements (which typically involve money and securities transfers between custodian banks and broker-dealers), as well as instruments. In 2007, DTC settled transactions worth $513 trillion, and processed 325 million book-entry deliveries. In addition to settlement services, DTC retains custody of 3.5 million securities issues, worth about $40 trillion, including securities issued in the US and more than 110 other countries.