SEC Publishes DTCC ITP's Exemption Application for Clearing Agency Status
The filing binds DTCC ITP LLC and its clients, with comment period opening after the Aug. 31, 2026 notice.
The Securities and Exchange Commission issued a notice on Aug. 31, 2026 (Federal Register Vol. 91, No. 167, pp. 55933-55939; FR Doc No: 2026-17674; Release No. 34-106203; File No. 600-46) soliciting comments on DTCC ITP LLC's application for an exemption from registration as a clearing agency under Section 17A of the Exchange Act.
DTCC ITP filed the original application on Sep. 18, 2025 and amended it on Sep. 23, 2025. The company seeks to assume the central trade-matching and electronic trade-confirmation services currently provided by its wholly owned subsidiary, DTCC ITP Matching, which operates under a conditional exemption granted in 2001. The proposed exemption would enable DTCC ITP to act as a Qualified Clearing Agency or Matching Utility in agreements with the National Securities Clearing Corporation and The Depository Trust Company.
The applicant is organized as a Delaware limited liability company whose sole member is the Depository Trust & Clearing Corporation. Its amended and restated LLC agreement provides for a Board of Managers of up to 16 members, including up to three representatives of DTCC. DTCC ITP reports zero employees of its own; approximately 60 full-time employees are provided by DTCC or its affiliates, and the firm is overseen by two executive officers.
The services to be offered include three core offerings - CTM (post-trade matching), TradeSuite ID (confirmation and affirmation), and ALERT (global settlement-instruction database) - and one non-core offering, ITP Integration Business Services. Clients would span investment managers, hedge funds, broker-dealers, custodians and other market participants.
Because the filing seeks an exemption rather than registration, the timing requirements of Section 19(a) of the Exchange Act do not apply.
Further reading