RF asked in News & EventsCurrent Events · 8 years ago

What is the DTC or DTCC? Why is it part of conspiracy theory?

I went to the DTC site and typed birth certificate in the search engine. Interesting to see a bunch of files pop up, but they are priviate. Anyone know what this corporation does?

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  • AJ
    Lv 7
    8 years ago
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    The Depository Trust & Clearing Corporation (DTCC), based primarily at 55 Water Street in New York City, is the world’s largest post-trade financial services company. DTCC was established in 1999 as a holding company to combine The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). It was set up to provide an efficient and safe way for buyers and sellers of securities to make their exchange, and thus "clear and settle" transactions. It also provides central custody of securities.

    User-owned and directed, it automates, centralizes, standardizes, and streamlines processes that are critical to the safety and soundness of the world’s capital markets. Through its subsidiaries, DTCC provides clearance, settlement, and information services for equities, corporate and municipal bonds, unit investment trusts, government and mortgage-backed securities, money market instruments, and over-the-counter derivatives. It also manages transactions between mutual funds and insurance carriers.

    In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value. DTCC has operating facilities in New York City, and at multiple locations in and outside the U.S.

    Several companies have sued the DTCC without success, usually over delivery failures in their stocks and alleged culpability for naked short selling. DTCC's possible involvement has been taken up by Senator Robert Bennett and discussed by the NASAA and in articles. The Wall Street Journal and Euromoney Magazine have also supported the stance against DTCC.[2][3] The DTCC contends that the suits are orchestrated by a small group of lawyers and executives to make money and draw attention from the companies' problems.

    Source(s): It's Wikipedia
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  • 8 years ago

    DTC or DTCC has several subsidiaries coming under it, if you search anything you will get list of search results, they are private as the files that comes in search are personal files of any individual or DTC, you need to have a membership account ID (web application login will give you access to these files).

    You can check or download this PDF from DTC website which will help you in getting details on your searched topic: http://www.dtcc.com/news/newsletters/dtcc/2005/jan...

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