▁their ▁interests ▁by ▁maintain ing ▁a ▁fair ▁and ▁efficient ▁national ▁market ". ▁This ▁suit ▁was ▁later ▁dismiss ed ▁by ▁the ▁courts . ▁ ▁Crit ics ▁also ▁cont end ▁that ▁D T CC ▁and ▁the ▁SE C ▁have ▁been ▁too ▁secret ive ▁with ▁information ▁about ▁where ▁n aked ▁short ing ▁is ▁taking ▁place . ▁D T CC ▁says ▁it ▁has ▁supported ▁re le asing ▁more ▁information ▁to ▁the ▁public . ▁ ▁In ▁recent ▁years ▁this ▁controvers y ▁has ▁died ▁down , ▁as ▁the ▁impact ▁of ▁changes ▁to ▁SE C ▁rule ▁ 2 0 3 ▁under ▁Reg ulation ▁S HO ▁adopted ▁in ▁ 2 0 0 8 ▁dram atically ▁cur ta iled ▁long - term ▁short ▁positions ▁and ▁compla ints ▁about ▁" nak ed ▁short " ▁positions ▁decl ined . ▁ ▁Sub s idi aries ▁▁ ▁D T CC ▁has ▁several ▁subs idi aries : ▁ ▁The ▁De pository ▁Trust ▁Company ▁( D TC ) ▁– ▁The ▁original ▁se cur ities ▁de pository . ▁ ▁Est ab lished ▁in ▁ 1 9 7 3 , ▁it ▁was ▁created ▁to ▁reduce ▁costs ▁and ▁provide ▁effic ien cies ▁by ▁imm obil izing ▁se cur ities ▁and ▁making ▁" book - entry " ▁changes ▁to ▁show ▁ownership ▁of ▁the ▁se cur ities . ▁ ▁D TC ▁moves ▁se cur ities ▁for ▁NS CC ' s ▁net ▁settlement s , ▁and ▁settlement ▁for ▁institution al ▁tr ades ▁( which ▁typically ▁involve ▁money ▁and ▁se cur ities ▁trans fers ▁between ▁cust od ian ▁banks ▁and ▁bro ker - de al