▁capital ▁mark ets . ▁Through ▁its ▁subs idi aries , ▁D T CC ▁provides ▁clear ance , ▁settlement , ▁and ▁information ▁services ▁for ▁equ ities , ▁corpor ate ▁and ▁municipal ▁b onds , ▁unit ▁invest ment ▁trust s , ▁government ▁and ▁mort g age - back ed ▁se cur ities , ▁money ▁market ▁instruments , ▁and ▁over - the - counter ▁derivatives . ▁It ▁also ▁man ages ▁transactions ▁between ▁mut ual ▁funds ▁and ▁ins urance ▁carri ers ▁and ▁their ▁respective ▁invest ors . ▁ ▁In ▁ 2 0 1 1 , ▁D T CC ▁settled ▁the ▁vast ▁majority ▁of ▁se cur ities ▁transactions ▁in ▁the ▁United ▁States ▁and ▁close ▁to ▁$ 1 . 7 ▁quadr ill ion ▁in ▁value ▁world wide , ▁making ▁it ▁by ▁far ▁the ▁highest ▁financial ▁value ▁processor ▁in ▁the ▁world . ▁ ▁D T CC ▁oper ates ▁facilities ▁in ▁the ▁New ▁York ▁metropol itan ▁area , ▁and ▁at ▁multiple ▁locations ▁in ▁and ▁outside ▁America . ▁ ▁History ▁ ▁Est ab lished ▁in ▁ 1 9 7 3 , ▁The ▁De pository ▁Trust ▁Company ▁( D TC ) ▁was ▁created ▁to ▁alle vi ate ▁the ▁rising ▁volumes ▁of ▁paper work ▁and ▁the ▁lack ▁of ▁security ▁that ▁developed ▁after ▁rapid ▁growth ▁in ▁the ▁volume ▁of ▁transactions ▁in ▁the ▁U . S . ▁se cur ities ▁industry ▁in ▁the ▁late ▁ 1 9 6 0 s . ▁ ▁Before ▁D TC ▁and ▁NS CC ▁were ▁formed , ▁bro k ers ▁phys ically ▁ex changed ▁certific ates , ▁employ ing ▁hundreds ▁of ▁mess