The Story of The Depository Trust & Clearing Corporation

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CHAPTER SIX | A DAY UNLIKE ANY OTHER

The conditions in the area were challenging. Because of the polluted air from the collapsed towers and the debris they generated, the air conditioning at DTCC’s offices had been turned off. A debris cloud hung over the building, and the smell of fire was overwhelming upon stepping outside the doors. Making matters worse, because electricity was out in much of the surrounding area, food was hard to come by. Considine and her leadership team were tracking the dozens of issues that would need to be addressed, from how the firm would clear and settle amid a catastrophic event to where they would find food to feed employees who would need to remain on-site. Considine was also walking from floor to floor talking to employees, telling them to call their families to see how they were doing and to let them know they were safe. Because there was no way for her to get home and she did not want to leave the area in case the authorities would not let her back in, Considine made the decision to stay at the DTCC offices for the entire week, where she slept on a couch in her office. “DTCC was open and operational, and we were running and we actually processed $280 billion that day,” Considine said. “It was a horrendous time, but it was probably one of the finest hours for DTCC. We showed our resiliency and were able to continue processing.”

Pictured below is what remained after the Twin Towers collapsed on September 11, 2001. The terrorist attacks killed 2,977 people from 93 nations, with 2,753 victims in New York alone. The site would forever be remembered as “Ground Zero.” (Photo by David Mark courtesy of Pixabay.)

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