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THE STORY OF THE DEPOSITORY TRUST & CLEARING CORPORATION
Rob Gambardella, managing director, Enterprise Product and Platform Engineering, spoke of the global nature of DTCC’s work, the impact on the industry and the opportunities it provides to protect a broad range of stakeholders—from financial firms to the end investor: Our people know they make a difference. They solve problems for the industry and drive efficiencies and optimizations for the most important financial services institutions in the world. They also are at the forefront of mitigating risk, which protects the end investor who is invested in the market through 401(k) plans and retirement accounts.
Lynn Bishop, managing director and chief information officer, is responsible for managing DTCC’s technology infrastructure, ensuring a seamless client experience and providing operational and technology resilience.
Providing Certainty During Crises
The US presidential election of 2016 capped a year of market volatility that had been sparked by the United Kingdom’s Brexit plans to leave the European Union. On election night, Dow futures dropped more than 900 points. The Mexican peso hit a record low, down more than 12 percent. And stocks in Asia closed down as much as 5 percent. DTCC’s risk management team immediately jumped into action, exploring fluctuations in the US bond market prices, the overnight trading queues and changes in positions and prices. This multipronged approach—completed before the market opened—was yet another example of the emphasis DTCC paid to protecting the financial system through active risk management. Michael Bodson, who was president and CEO at the time, detailed why in DTCC’s 2016 Annual Report:
2016 The Depository Trust &
2016 DTCC’s Global Trade Repository (GTR) adds
2016 DTCC launches an updated web-based platform for its Alternative Investment Product (AIP) Services. AIP Services activates more than 250 accounts and processes its 180 millionth transaction.
2017 SEPTEMBER DTCC leads the US markets in moving to a T+2 settlement cycle. It had been more than 22 years
Clearing Corporation (DTCC) launches enhancements to its Mutual Fund Services to meet new regulations from the US Securities and Exchange Commission. The upgrades impact Fund/SERV, Networking and Mutual Fund Profile Service, allowing them to communicate liquidity fees, redemption gates and multiple daily net asset value strikes.
services throughout Canada to cover all provinces and territories. Futures & Options World recognizes GTR as Trade Repository of the Year for the second year in a row.
since the settlement cycle was shortened.
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