What is DTCC? “DTCC” stands for The Depository Trust Clearing Corporation”. DTCC is a member of the U.S. Federal Reserve System. It is a limited trust company under New York State Banking law and a registered clearing agency with the SEC. The purpose of DTCC is to reduce costs associated with securities processing by financial intermediaries serving the public. They accomplish this by retaining custody of over 2 million securities and converting them to electronic files. The depository also provides the services necessary for the maintenance of the securities it has in custody. Read more:
Who may be granted DTC eligibility?
Companies that are listed on the NYSE, the AMEX or NASDAQ are already considered properly vetted by DTCC and the SEC’s willingness to make the registration effective is considered a satisfactory and clean presentation. Other companies who trade the Pinksheets or OTCBB will have to go through the application process for initial eligibility and will want to show a clean history, an effective registration, perhaps an opinion letter, transactional history, etc. Even then, DTC may reject a company without having to justify its decision. Contact us or Email us at firstname.lastname@example.org for more information.
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