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CHAPTER THREE | TECHNOLOGICAL REVOLUTION
One of the most laborious aspects of DTC’s tasks was filming each certificate that passed through its doors. That provided a backup in case anything was missing.
1985 JUNE A union strike tests DTC’s ability to maintain operations. Through careful planning, DTC continues to deliver without interruption.
1986 MAY
1987 OCTOBER
1987 DTC launches the same- day funds settlement system. It begins processing municipal notes and zero-coupon bonds backed by government securities and installs a computer connection to the Federal Reserve System’s Fedwire Link.
The NSCC board of directors establishes a government securities committee to explore bringing the firm’s expertise to the government securities market.
A volatile stock market tests NSCC’s and DTC’s capacity as NYSE’s daily trading volume twice surpasses 600 million shares. During the week of October 19, immediately following “Black Monday,” NSCC’s processing volume peaks at 1.7 million sides, nearly triple the daily average, and DTC settles a daily average of 1.7 billion shares.
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