The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively “dematerializing” most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody.
The Automated Customer Account Transfer Service
a service offering of National Securities Clearing Corporation (NSCC)
The Automated Customer Account Transfer Service (ACATS) is a central processing system that provides for the timely transfer of customer accounts among participant financial institutions, including banks and broker/dealers.
