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THE STORY OF THE DEPOSITORY TRUST & CLEARING CORPORATION
CELEBRATING A MILESTONE On May 4, 1998, The Depository Trust Company (DTC) celebrated its 25th anniversary as the world’s largest securities depository and as a custodian for its participant banks and broker-dealers. The event— complete with live music and a stock certificate-themed cake—took place on the New York Stock Exchange (NYSE) trading floor and was attended by many industry professionals. By 1998, $77 trillion in securities were processed through DTC’s book-entry system. DTC held in custody 83 percent of the shares of all NYSE-listed companies as well as 99 percent of the commercial paper issued in the United States.
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