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THE STORY OF THE DEPOSITORY TRUST & CLEARING CORPORATION
In the late 1960s, the NYSE experienced a surge in trading volume, which resulted in the paperwork crisis on Wall Street. The large number of stock trades caused a buildup of paperwork, leading to a backlog of stock certificates. Brokerage firms were unable to keep up with the demand, prompting action to be taken. As a result, trading was restricted to four days a week and the Securities and Exchange Commission concentrated on improving settlement methods in order to mitigate the crisis.
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