Depository Trust And Clearing Corpo... A holding company that, through subsidiaries, provides clearance, settlement, and information services for equities, corporate and municipal bonds, mutual funds, annuities and insurance, government and mortgage- backed securities, over-the-counter credit derivatives, and emerging market debt trades. Its Depository Trust Company (DTC) subsidiary is a central securities repository where stock and bond certificates are held and exchanged, mostly electronically. Another subsidiary is National Securities Clearing Corporation (NSCC), which provides connectivity to thousands of brokers, dealers, banks, mutual funds, insurance carriers, and other financial intermediaries. Fixed-Income Clearing Corporation (FICC), which began operations on January 1, 2003, is DTCC's newest clearing corporation, formed by the merger of the Government Securities Clearing Corporation (GSCC) and the MBS Clearing Corporation (MBSCC). FICC clears and settles U.S. government securities and mortgage-backed securities trades. In 2004, DTCC handled an average of more than $4 trillion in trades daily. Other subsidiaries include DTCC Deriv/SERV LLC, which provides matching, confirmation, and payment services for the global over-the-counter derivatives market, and Global Asset Solutions LLC, which provides a global information service on corporate actions worldwide. - From the Dictionary of Finance and Investment Terms Copyright © 2006, 2003, 1998, 1995, 1991, 1987, 1985 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher. /glossaries/depository-trust-clearing-corporation-dtcc/4959776-1.html