Products & Services
Clearance and Settlement
Equities Settlement
As the central counterparty for the nation's major exchanges and markets, DTCC clears and settles virtually all broker-to-broker equity, listed corporate and muni bond and UIT trading in the U.S., ensuring capacity, certainty and reliability to handle today's enormous trading volumes.
As the central counterparty for the nation's major exchanges and markets, DTCC clears and settles virtually all broker-to-broker equity, listed corporate and municipal bond and Unit Investment Trust trading in the U.S. through its National Securities Clearing Corporation (NSCC) subsidiary.
While NSCC provides final settlement instructions to its customers each day, the payment and movement of securities ownership occurs at DTCC's subsidiary, The Depository Trust Company (DTC). In addition to NSCC transactions, DTC settles institutional trades, money market instruments and other financial obligations. As DTCC's depository, DTC also eliminates the movement of securities by providing book-entry deliveries, which transfer the ownership of securities electronically.
DTCC’s Canadian-Link Services with the CDS Clearing and Depository Services Inc. (CDS) provide a broad range of services supporting settlement and corporate actions including dividend, redemption and reorganization services.
DTCC's Settlement Service facilitates end-of-day net settlement of a participant's net settlement obligations resulting from trading activity.
Dividend Settlement Service (DSS) is a centralized claims-processing system that manages the collection of dividends and interest owed to participants by other participating financial institutions.
Envelope Settlement Service (ESS) standardizes and controls participant-to-participant physical delivery of securities in the New York metropolitan area. Inter-city Envelope Settlement Service (IESS) standardizes and controls participant-to-participant physical delivery of securities between N.Y. and Toronto.
Funds Only Settlement Service (FOSS) centralizes the routing of envelopes that contain money-only charges to full-service participants located in the New York metropolitan area.
The Inventory Management System (IMS) is a service that allows participants to create inquiries, authorize or exempt security deliveries before transaction processing occurs.
The European Pre-Issuance Messaging service (EPIM) is a central messaging hub that links the parties involved in the issuance of European commercial paper, including banks, dealers, issuing and paying agents, securities depositories and numbering agencies.
PIM is a service that enables dealers and issuing paying agent banks that service money market instrument securities to communicate issuance instructions prior to market issuance.
