Bullboard - Stock Discussion Forum Gratomic Inc V.GRAT

Alternate Symbol(s): CBULF

Gratomic Inc. is a Canada-based exploration and development stage company with projects in Namibia, Brazil, and Canada. It supplies graphite and is engaged in the electric vehicle battery supply chain through the development of its flagship Aukam graphite mine and ongoing exploration at the Capim Grosso property. The Aukam property includes a mining license (ML) 215 (5,002 hectares (ha), in... see more

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Gratomic Inc > History of DTC

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Post by wendhie05 on Apr 21, 2021 3:39am

History of DTC

The need for the DTC emerged in the late 1960s when the New York Stock Exchange (NYSE) became unable to handle its trade volume, particularly the massive amount of paperwork associated with this trade volume. In 1968, the NYSE initiated the functions of DTS through its Central Certificate Service (CCS), a securities depository established to serve NYSE member firms.

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Comment by wendhie05 on Apr 21, 2021 3:41am

ursuant to plans developed by the ad hoc Banking and Securities Industry Committee in 1970-72, DTC was created in early 1973 to acquire the business of CCS and to expand the benefits of the depository approach to other areas of the financial industry, particularly the bank sector. Due in part to the creation of the DTC, the NYSE can now handle billions of trades per day. The DTC's automated ...more

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Comment by wendhie05 on Apr 21, 2021 3:44am

The Depository Trust and Clearing Company (DTCC) owns the DTC. DTCC manages risk in the financial system. Formerly an independent entity, the DTC was consolidated with several other securities-clearing companies in 1999 and became a subsidiary of the DTCC.

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