DTCC
Pronunciation: D-T-C-C
Also written as: DTCC — Depository Trust & Clearing Corporation
Abbreviation for Depository Trust & Clearing Corporation, the parent company of DTC and NSCC, providing clearing, settlement, and information services for U.S. financial markets.
Full Definition
The Depository Trust & Clearing Corporation (DTCC) is the holding company that owns and operates the principal post-trade market infrastructure for the U.S. securities industry, including DTC and the National Securities Clearing Corporation (NSCC). Editors working on regulatory filings, proxy materials, and shareholder communications must distinguish DTCC from its subsidiaries, as responsibilities for specific functions (e.g., custody vs. clearing) are allocated to different entities within the group. The ampersand in the official name must be retained; substituting 'and' is incorrect. First use should be expanded and the acronym parenthesised.
Usage
Usage note: The official name contains an ampersand ('&'), not the word 'and'. Do not substitute.
In Context
- "Settlement of the equities trade was routed through DTCC in accordance with standard T+1 procedures." — Trade confirmation notice
- "The transfer agent submitted the corporate action notice to DTCC forty-eight hours before the effective date." — Corporate action filing