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THE STORY OF THE DEPOSITORY TRUST & CLEARING CORPORATION
As DTCC marched toward the half-century mark, it faced opportunities to expand and unique events that posed risks to both the global economy and DTCC’s operations. The firm responded as it always has done, by pulling together and helping the industry overcome the challenges that it faced.
An unprecedented event: The COVID-19 pandemic lockdowns, which began in the United States in March of 2020, saw major cities and popular tourist areas like New York City’s Times Square as well as the subway become desolate overnight. (Photo by Michael Walter courtesy of Unsplash.)
The COVID-19 Pandemic
For all the changes that have occurred over the past two decades, no event is more defining than the COVID-19 pandemic. It would be the most severe viral outbreak since the Spanish Flu Pandemic of 1918.
COVID-19 created economic uncertainty for the industry and the entire global economy, but DTCC’s response ensured stability during a period of intense market volatility and provided a level of confidence in the market that helped it sustain the disruptions. Throughout the pandemic, the firm kept its focus on two areas: its clients and its employees. It did so by leaning on lessons learned from past crises. The experience of Superstorm Sandy, when many of DTCC’s New York–based employees moved to new sites, provided an opportunity for the firm to upgrade the robustness of its remote work infrastructure. To keep everyone safe and do its part to slow the spread of COVID-19, DTCC, like
2021 The Depository Trust &
2021 DTCC has 5,850 clients in 93 countries around the world.
2021 FEBRUARY
2021 MARCH DTCC’s ALERT, a
Clearing Corporation (DTCC) processes $2.37 quadrillion in securities transactions.
DTCC issues a white paper supporting the move to T+1 settlement. DTCC joins the Securities Industry and Financial Markets
global database for the maintenance and communication of
account and standing settlement instructions (SSI), surpasses 10 million
Association and The Investment Company
Institute in working toward achieving that goal by 2024.
SSIs in service. This marks a 12 percent increase over the previous 12 months.
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