The Depository Trust and Clearing Corporation (DTCC), through its subsidiaries, provides post-trade clearance, settlement, custody and information services for equities, corporate and municipal debt, money market instruments, American depositary receipts, exchange-traded funds, unit investment trusts, mutual funds, insurance products and other securities The National Securities Clearing Corporation (NSCC) subsidiary, which acts as a central counterparty (CCP), provides trade guarantee, netting and risk management services for equity and debt ransactions from all U.S. stock exchanges and markets, valued at $105 trillion in 2000. The Depository Trust Company(DTC) subsidiary has custody of and provides asset servicing for 2 million securities issues of issuers from the U.S. and 65 other countries, valued at $23 trillion. DTC serves as a major clearinghouse for institutional post-trade settlement, and in 2000, processed book-entry deliveries valued at more than $116 trillion. DTCC's two subsidiary businesses have Standard and Poors' highest rating: AAA.