The Depository Trust & Clearing Corporation (DTCC) is celebrating 40 years in business with a new corporate motto: Securing Today. Shaping Tomorrow.
DTCC'S Depository Trust Company (DTC), established in 1973, was created to address the paperwork crisis facing the financial industry as a result of an increase in securities trading. DTC held securities certificates in custody through its book-entry process and introduced Institutional Delivery (ID) to automate institutional confirmations of securities trades.
Today the institution provides custody and asset servicing for securities issues from 131 countries and territories valued at $37.2 trillion in addition to providing underwriting, deposit and withdrawal, dividend, reorganization and proxy services, restricted securities and direct registration services.
"Throughout our history, clients and regulators have relied on DTCC and its predecessor companies to manage the crises, tackle challenges, and bring greater efficiency and risk mitigation to financial markets globally," says Michael Bodson, president and CEO of DTCC. "As the world's largest financial infrastructure, the significance of this responsibility is fully reflected in the dedication our employees bring to work every day to mitigate risk both during normal trading days and extremely difficult periods such as the 9/11 attacks, the 2008 financial crisis, and Superstorm Sandy. Our new brand strategy not only honors our heritage, but also looks towards the future and our focus to strengthen and foster further growth in the global financial markets."