The Depository Trust & Clearing Corporation’s (DTCC) entire Applications Development and Maintenance (ADM) technology division has passed a formal assessment to achieve a Capability Maturity Model Integration (CMMI) Level 2 rating.
“We’re very proud of this accomplishment,” said William Aimetti, managing director and DTCC’s chief information officer. “CMMI is the standard of excellence in improving organizational processes in government and industry, and achieving Level 2 puts DTCC in a select group, especially among financial services firms.
“Obtaining this rating is a recognition of our level of commitment to excellence in project management and software development and delivery. It demonstrates our ability to have reliable and repeatable processes that reduce costs, lower risk and improve product quality and timeliness of delivery for solutions supporting the financial services industry.”
The assessment means DTCC’s technology division has established effective, well-defined processes and procedures in project management and software development that meet CMMI Level 2, and in certain cases, CMMI Level 3, requirements. ADM is responsible for developing, managing and testing all software used by DTCC and its subsidiaries for all services.
A team of independent evaluators from TeraQuest Metrics Inc., certified by the SEI, performed the assessment in conjunction with DTCC personnel.