The Depository Trust & Clearing Corporation (DTCC) proposed, on September 13th 2007, further automating the processing of the structured securities market.
This could potentially save the industry millions of US Dollars and help reduce manually intensive and error-prone procedures.
The paper, entitled “Transforming Structured Securities”, calls for substantial cost and time savings by reducing the number of late principal and interest rates (P&I) each month and the number of adjustments that must be made after an incorrect P&I payment is made.