DTC's Settlement Department is responsible for overseeing the process of the settlement of Participant transactions. Specifically, the Settlement Department:
- Ensures the collection/disbursement of Participant net settlement obligations and credits through the Fedwire system
- Ensures that major components of DTC's Settlement Service are updating/processing in a timely manner
- Helps resolve problems affecting the settlement process
- Grants input extensions when processing problems arise
- Provides backup to the extent possible when Participant systems go down
- Answers questions regarding all aspects of settlement processing
- Processes deposits and withdrawals of Federal book-entry eligible securities.