> For the complete documentation index, see [llms.txt](https://docs.xft.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xft.finance/bitnet/use-cases/archive/dtcc.md).

# DTCC

Current System

* NSCC nets all trades.
* NSCC guarantees settlement.
* DTC moves securities.
* Fedwire moves cash.
* If one side fails, NSCC covers.