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Last Post: 11/13/2017 6:13:15 PM - Followers: 155 - Board type: Free - Posts Today: 0



Overview



DTCC, through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks.

DTCC's depository provides custody and asset servicing for 3.6 million securities issues from the United States and 121 other countries and territories, valued at almost $34 trillion. In 2009, DTCC settled more than $1.48 quadrillion in securities transactions.

DTCC operates through 10 subsidiaries - each of which serves a specific segment and risk profile within the securities industry:


- National Securities Clearing Corporation (NSCC)
- The Depository Trust Company (DTC)
- Fixed Income Clearing Corporation (FICC)
- DTCC Deriv/SERV LLC 
- The Warehouse Trust Company LLC
- DTCC Derivatives Repository Ltd.
- DTCC Solutions LLC
- DTCC Loan/SERV LLC
- EuroCCP Ltd.
- Avox Ltd.


This forum is a place for ALL to share and build research and due diligence in the context of the DTCC, it's policies and their impact on securities.
This is not a forum for recommending stocks to buy or sell. It is for information sharing only.
Please do not use this forum to promote stocks.


Please start all informational posts with the ticker symbol of the stock followed by the actual company name as it appears on the OTC.
A few simple rules to follow:

1: You cannot discuss other posters or try to attack them. TOU still is applied here.

2: BRING FACTS. No flame wars. Be mature and respect the DD that is done regardless of what you think of it, also NO NSS DISCUSSION..PERIOD!!!!

3: We do not give advice for buying or selling the stock you are interested in. We only find information that pertains to the DTCC and the restrictions they place upon securities.

4: If you ask for some DD on a company, don't expect a rose garden of an answer. Not going to happen.

5: I am in no way affiliated with the DTCC, nor do I know anyone associated with the DTCC, this is simply subject matter expertise using documents from the DTCC and other sources regarding the DTCC and it's actions.

"DTCC Media Statement on Clearance and Settlement

New York, January 3, 2012 - The Depository Trust & Clearing Corporation (DTCC) today issued the following media statement in response to inquiries, occasioned by a recent article in The New York Times, which mentioned the process of clearing and settling trades in the U.S. securities markets:

About DTCC

DTCC is a holding company for several regulated subsidiaries, including The Depository Trust Company (DTC), Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC). These subsidiaries provide centralized clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and money market instruments traded in the U.S. capital markets.

DTCC's core mission is to manage and mitigate risk for issuers and investors and their financial intermediaries. To achieve this mission, DTCC has helped to automate, standardize and streamline processes that are critical to the safety and soundness of the capital markets.

In the normal course of business, DTCC handles member firms' payments of funds related to two key activities: the settlement of transactions entered into by members on behalf of both their customers and their own accounts, and the deposit of collateral ("margin") in relation to DTCC's subsidiaries' role as the central counterparty for the U.S. securities markets.

Clearance and Settlement

Centralizing the process of clearing and settling transactions through NSCC or FICC is a critical component of today's highly efficient securities markets. Through these centralized processes, trades are cleared - matching the "buy" and "sell" sides of trades - and settled (the buyer receiving securities and the seller the related payment for the transaction). Similarly, the payments for transactions are processed through a centralized system.

After a transaction is executed, the details are reported to NSCC (for equities, corporate and municipal bonds and money market instruments) or FICC (for government and mortgage-backed securities). The applicable subsidiary becomes the "central counterparty" to the trade, guarantying completion of the transaction if either the buyer or seller is unable to fulfill its part of the contract.

NSCC settles trades through DTC's centralized book-entry system (FICC settles trades through the Federal Reserve's National Book Entry System). Selling parties deliver securities to buying parties through DTC against an obligation to pay funds for the transaction. A member's payment obligations (amounts it owes and amounts it is owed) are accumulated throughout the settlement day, and result in a final payment processed at the end of the day (from the member to DTC or from DTC to the member) equal to the total of these payment obligations.
Counterparties cannot withhold cash or securities from trades, or no settlement occurs. DTC itself is not involved in deciding how payments are processed or who receives what amounts; further, the total of settlement moneys received from members by DTC equals the total settlement payments DTC makes to other members, with none of these moneys retained at DTC. Payments may relate to transactions settled on behalf of a member firm's customers or transactions for the firm's own account; this transactional information is not reported to DTC.

Securing the Trade Guaranty

As a central counterparty, NSCC or FICC guarantees a member's performance on trades reported to the clearing house. To provide underlying security for this guaranty, NSCC and FICC require members to post Clearing Fund deposits (or margin) collateralizing their guaranteed trades.

DTCC constantly reviews and assesses the amount of collateral (cash and/or securities) required to be posted from each firm. As DTCC's subsidiaries guarantee each trade, the amount of collateral required can vary throughout the day, depending on trading volume, market volatility and a view of the potential risk of a default by a particular member firm.

Clearing Fund deposits and payments relating to transaction settlements are handled through completely separate processes and are not commingled; all deposits and payments are kept separate and distinct. In addition, when a firm sends funds through DTCC to complete its transactions and settle trades, DTCC does not "hold back" any funds for purposes of collateral or margin - all funds are remitted to the parties to whom they are due.

About DTCC
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC's depository provides custody and asset servicing for 3.6 million securities issues from the United States and 121 other countries and territories, valued at almost $34 trillion. In 2010, DTCC settled more than $1.66 quadrillion in securities transactions"


http://www.dtcc.com/news/press/releases/2012/media_statement_clearance_settlement.php


 
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PostSubject
#1608  Sticky Note New Links for Chills and Global Locks BigBake1 11/03/14 08:38:28 AM
#1406  Sticky Note Educational Posts BigBake1 02/23/14 08:54:00 AM
#1348  Sticky Note Complete list of "CUSIP's to be exited from BigBake1 01/14/14 04:36:48 PM
#1330  Sticky Note DTCC Whitepaper on Service Restrictions (Chills and Global Locks) BigBake1 12/18/13 10:59:47 AM
#1303  Sticky Note The Big Questions and some examples BigBake1 12/02/13 08:37:01 AM
#52  Sticky Note Just thought I would post this. jbsliverer 02/17/12 01:28:53 PM
#1746   Agreed, the reason I posted it was due BigBake1 11/13/17 06:13:15 PM
#1745   But... That's from almost a year ago, janice shell 11/13/17 04:35:09 PM
#1744   New Rules approved by the SEC for Chills BigBake1 11/13/17 10:15:39 AM
#1743   Please come explain this again to the rubes Cartman 3_16 10/31/17 03:04:28 AM
#1742   I appreciate your knowledge and help! Monroe1 07/20/17 10:36:57 PM
#1741   Correct thus why the release of Short Interest BigBake1 07/20/17 09:03:56 PM
#1740   Yes, I assumed this info is kept private Monroe1 07/20/17 08:38:39 PM
#1739   It is Short Volume, intra day. There is BigBake1 07/20/17 08:24:00 PM
#1738   Kind of what I thought. I sent a Monroe1 07/20/17 07:13:36 PM
#1737   Okay, thanks... janice shell 07/20/17 07:00:12 PM
#1736   True when talking Short Interest, I just assumed BigBake1 07/20/17 06:47:37 PM
#1735   I thought "days to cover" was how many janice shell 07/20/17 06:37:17 PM
#1734   No way to know retail vs intra day BigBake1 07/20/17 06:22:19 PM
#1733   Thanks Big Bake I read this a few Monroe1 07/20/17 05:34:13 PM
#1732   Okay... janice shell 07/08/17 05:47:38 PM
#1731   Friend of mine sent an email, but the Sibware 07/08/17 05:35:02 PM
#1730   Well, neither do I... Why not just janice shell 07/08/17 05:26:57 PM
#1729   Agree, but it's more complicated then it was anyway Sibware 07/08/17 05:22:55 PM
#1728   It isn't DTCC's fault. There's nothing new janice shell 07/08/17 05:16:31 PM
#1727   Really strange. Guess we'll never know what's really Sibware 07/08/17 05:13:03 PM
#1726   Yes. Street name stock is ALWAYS part janice shell 07/08/17 05:09:53 PM
#1725   Yep.But what i want to know is: Are Sibware 07/08/17 05:06:32 PM
#1724   Yes, that's right. The "shares held at janice shell 07/08/17 05:06:19 PM
#1723   The street name shares of ALL companies are janice shell 07/08/17 05:04:00 PM
#1722   Here's an explanation from a ihubber Sibware 07/08/17 05:02:49 PM
#1721   And they are part of the float in Sibware 07/08/17 05:00:49 PM
#1720   There is no point at all in calling janice shell 07/08/17 04:57:48 PM
#1719   Worst thing is that they are paid for that...lol... Sibware 07/08/17 04:56:41 PM
#1718   lol, I agree. In some cases the janice shell 07/08/17 04:54:31 PM
#1717   Those numbers were recently updated by the TA Sibware 07/08/17 04:52:52 PM
#1716   No. Trouble is, the float number is janice shell 07/08/17 02:47:10 PM
#1715   Well if they are tradable, i have some Sibware 07/08/17 02:41:41 PM
#1714   Not in the OTC. janice shell 06/27/17 01:08:57 AM
#1713   Thanks a lot Janice Sibware 06/27/17 01:04:43 AM
#1712   They're tradable shares; shares held in street name janice shell 06/26/17 10:45:44 PM
#1711   Question for a DTC specialist here: Sibware 06/26/17 09:07:59 PM
#1710   That's what I thought, as that's what I've Slojab 10/18/16 02:31:40 PM
#1709   Since March 2012 the "chill" has very little BigBake1 10/18/16 02:28:08 PM
#1708   Hi Big. Can you explain the problem Slojab 10/17/16 10:24:24 AM
#1707   Is $50 Billion the Price of Repo Safety? sludgehound 12/09/15 07:30:07 PM
#1706   It is a little premature to say how BEANPOLE 11/03/15 08:22:29 PM
#1705   The only entity that "helped" was the Transfer BigBake1 11/03/15 08:15:01 PM
#1704   This CRGP story is far from over and BEANPOLE 11/03/15 08:08:10 PM
#1703   Based on what negligence? They only entities that BigBake1 11/03/15 08:00:40 PM
#1702   I would not be a bit surprised to BEANPOLE 11/03/15 07:27:12 PM
#1701   STOA 1:1000 RS / one of asher toxic funder mick 09/03/15 09:18:51 AM
#1700   Correction,J.S. i do appreciate this/////\\\\\ mick 09/01/15 04:04:59 PM
#1699   No, it isn't fishy. The company's bankruptcy janice shell 09/01/15 03:49:28 PM
#1698   hi my friend, little chat time if no mind. mick 09/01/15 03:12:51 PM
#1697   Thanks. jimtash 08/30/15 08:38:49 PM
PostSubject