Category: Depository Trust Company (DTC)

EDT
The Depository Trust Company (DTC) is proposing a new Rule 33, which would establish new circumstances under which the DTC would be allowed to release a Deposit Chill or Global Lock, in addition to the opportunity that Issuers have to challenge the restriction. The DTC is a critical component for the National Clearance and Settlement
|
EDT
  DTC, or Depository Trust Company, founded in 1973, is the largest depository globally with over thirty-five trillion dollars worth of securities on deposit. It operates a securities settlement system and provides services, including depository and book-entry services. Other services also include dividend and interest payments, tender and rights offers, and corporate reorganizations events like
EDT
The Depository Trust and Clearing Corporation (DTC) recently proposed Rule SR-DTC-2015-012 regarding CUSIP eligibility that went into effect on January 1st, 2016. The proposed rule allows DTC to charge issuers a $1,000 fee when required to make a new CUSIP DTC eligible after completion of a corporate action. A CUSIP is similar to a serial
EDT
DTCC (“DTC”) released a press release on March 12, 2013 regarding the proposed steps to continue with the dematerialization of physical securities in the United States. The proposals specifically relate to physical certificate elimination, which will help to lower costs and mitigate risk for the individual shareholder and the issuer. In the press release, DTC