Custody/clearing  
BNY Mellon    
BANK ONE    
BROWN BROTHERS HARRIMAN    
CITI    
COMERICA BANK    
FIFTH THIRD BANK    
HUNTINGTON BANK    
J.P. Morgan Worldwide Securities Services About J.P. Morgan Worldwide Securities Services Contact J.P. Morgan Worldwide Securities Services  
MUFG UNION BANK    
U.S. BANK    
UMB FUND SERVICES    
WELLS FARGO    
 
 
UNITED STATES - Capital Market Infrastructure Summary

Central Securities Depositories
Depository Trust Company (DTC)
Federal Reserve Bank

Central Counterparties
National Securities Clearing Corporation (NSCC)
Fixed Income Clearing Corporation (FICC)
LCH.Clearnet LLC
ICE Clear
The Options Clearing Corporation
ChicagoMercantileExchangeInc.
Minneapolis Grain Exchange Inc.

Settlement Cycle
T+3 for Equities, Corporate bonds and Municipals
T+0 or T+1 for Money market instruments and Government securities

Comment
NSCC acts as CCP for Equities, Corporate and municipal debt, American depository receipts, Exchange-traded funds; Unit investment trusts.

FICC includes Fixed Income Clearing Corporation Government Securities Division (US Treasury and agency securities) and Fixed Income Clearing Corporation Mortgage-Backed Securities Division (mortgage-backed securities).

On October 16, 2014, DTCC announced the formation of an industry steering committee and an industry working group to facilitate the move from a settlement cycle of T+3 to T+2, for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs).

On June 18, 2015, the Committee released a white paper detailing a plan to move to T+2 in the US by the end of Q3 2017.


Key terms defined in our glossary:

Central Securities Depository
Central Counterparty
Settlement Cycle

 
The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.