DTCC has been nominated as "Operations Leader of the Year" for its ongoing dematerialization work by Operations Management Newsletter in its seventh annual "Awards for Excellence" program.

The monthly newsletter, published by Institutional Investor Magazine, covers back-office and infrastructure issues of broker/dealers, investment adviser firms and custodian banks. The Awards for Excellence honor industry leaders in several categories, and nominations come from industry members as well as Operations Management editors.

"Dematerialization of the securities industry is a goal that is sought by markets globally," the newsletter reported, and "DTCC’s efforts toward eliminating the use of physical…certificates goes back to 1996" when the industry first began to look at electronic registration. The newsletter outlined DTCC’s history and work with its Direct Registration System (DRS), which eliminates the use of paper stock certificates by registering securities electronically.

"The industry’s goal to eliminate paper certificates is a win-win for all concerned," said Joe Trezza, DTCC vice president, Asset Services. "In addition to reducing costs for issuers and investors, going paperless via DRS gives investors greater security and greater flexibility in transferring or selling securities."

Winners of the awards will be announced in October.