The Depository Trust & Clearing Corporation (DTCC) is a financial services company that provides clearing, settlement, and information services for securities transactions. It plays a crucial role in the financial markets by ensuring that trades are processed efficiently and securely, reducing the risk of default and enhancing market stability. DTCC operates several subsidiaries, including the National Securities Clearing Corporation (NSCC) and the Depository Trust Company (DTC). These entities help facilitate the transfer of ownership of securities and manage the associated financial transactions, making it easier for investors and institutions to trade in various markets.