144
THE STORY OF THE DEPOSITORY TRUST & CLEARING CORPORATION
trading
security certificates, 11 settlement period extended, 12 settlement process
limited hours, 12, 16, 16 switch from fractions to decimals, 70
Trentacoste, Joseph “Joe,” ix, 84 Tribute in Light, 77 twin storms: 2005–2012, 80–95
trade date plus one day, 124, 129 trade date plus two days, 112, 119, 119–120, 129 trade date plus three days, 49, 78 Shields & Company, 23 simulation of failing investment bank, 84, 84 Smith, Jeffrey H., 33 Society for Worldwide Interbank Financial Telecommunications (SWIFT), 60–61, 65 Spinelli, Ken, 57 Stabenow, William, 32 Standard & Poor’s (S&P) credit ratings, 70, 101 standing settlement instructions (SSI), 124 State Street Bank, 29 Staufer, Matthew, ix stock certificates, 18, 23 punch card, 23–24 Stock Exchange of Hong Kong, 66 straight-through processing (STP), 64 stress tests, 45 strike, 37–39 subprime defaults, 82 Sullivan, Maureen, 29 summer immersion program, 118 Superstorm Sandy, 81, 83, 90–92, 91 – 92, 97, 124 Systemic Risk Barometer, 120 system upgrades, 133
dark knight, a, 86–90 drying out, 93–95, 94 Great Recession, 82–84 intensifying the risk mindset, 85–86 making moves, 95 market transparency, 84–85 Superstorm Sandy, 90–92, 91 – 92 Trade Information Warehouse, 85
Twin Towers, 69, 73, 75
underground vault at 55 Water Street headquarters, 40 flooded during Superstorm Sandy, 81, 83, 90, 93 Uniform Commercial Code, 29 union strike, 37–39 United Kingdom’s Brexit plans, 112–113 Upper Manhattan, new office, 78 senior leadership present at all times, 78 US presidential election of 2016, 112 US Securities and Exchange Commission (SEC), 14, 49, 98, 98, 112, 125, 129 US Securities and Exchange Commission Historical Society, 16, 22
vault certificate audit, 95
T-U-V
W-Y-Z
Tampa office, 79, 79, 91, 102 expansion, 95, 107 Tax Equity and Fiscal Responsibility Act of 1982, 38 technological revolution: 1980–1989, 34–45 Bill Jaenike: DTC chairman and CEO 1994–1999, 38, 38 broadening industry support, 42–43 dramatic downturn, 43–45, 45 innovating through automation, 36, 37, 38–39, 42
water conservation, 128 waterfall development, 119 Williams, Angie, 29 Winuk, Glenn J.
as Holland & Knight partner, 75 as volunteer firefighter on Long Island, New York, 75 World Trade Center 9/11 Memorial, 69 9/11 terrorist attacks, 68–69, 71, 72 bombing, 48, 50, 50–51, 72, 76 World War II, 12
technology glitch, 83, 86–88, 90 Thompson, Larry, ix, 44, 51, 76, 76 Thomson Financial, 61, 65, 67 Thomson-Reuters, 99, 104, 104, 105 Times Square, 124 Trade Information Warehouse (TIW), 82, 84–85 trade settlement, 18
Y2K, 57, 69–70, 81
zero-coupon bonds, 37
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