An SEC-registered clearing agency and one of the world's largest securities depositories. It holds physical security certificates in custody on behalf of brokers, dealers, banks and other entities and provides for the transfer of securities using electronic bookkeeping entries known as the "book-entry" system. DTC is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).

For more information on DTC, see Practice Notes, Clearing and Settlement of Debt Securities: Overview and Securities Transfers and Proxy Voting.