A Higher Profile
W
hile the upheaval of Superstorm Sandy significantly impacted The Depository Trust & Clearing Corporation (DTCC), the firm’s operations never stopped. The Great Recession and a sluggish recovery would be other matters as new regulations impacted DTCC and its clients. Even in that uncertain
Learning from the crises it faced as a result of 9/11 and Superstorm Sandy, by 2015, The Depository Trust & Clearing Corporation (DTCC) expanded to having seven US offices. One of the firm’s original backup offices was
located in Dallas, Texas. (Photo by Max Fray courtesy of Unsplash.)
environment, the firm would continue to expand. In some ways, the upheaval spurred DTCC forward. As the global financial marketplace underwent numerous changes and modernization, the markets looked to a trusted partner for help. DTCC was more than ready to step up. In 2012, the Mortgage-Backed Securities Division of the Fixed Income Clearing Corporation (FICC) started fully guaranteeing mortgage-backed securities trades and acting as a full-fledged central counterparty for those
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