2007 Annual Report: Celebrating Certainty and Possibilities
Celebrating Certainty and Possibilities, the theme of DTCC’s 2007 Annual Report, recognizes the ways DTCC is leveraging its core competencies to extend its reach across new products and into new markets.
Having mastered its core capabilities in clearance and settlement and earned the trust of the financial services industry, DTCC is seizing opportunities to design creative solutions that support the fast-changing needs of non-traditional customers and markets in the U.S. and overseas.
The “dynamic interplay between the ‘basics’ of DTCC’s core strengths and experience and the ‘creativity’ involved in applying them to a far broader set of needs has never been more critical,” wrote Donald F. Donahue, DTCC chairman and CEO, in the report’s letter to stakeholders. “Our customers are entering new markets and devising complex new investment instruments, new risk transfer vehicles and more sophisticated market mechanisms, and demanding that we support them in these dramatic changes.”
Highlights of 2007
DTCC’s ability to draw upon its knowledge and experience to create and deliver innovations in financial services is amply documented in the record of 2007 accomplishments.
A high point of the year was being chosen by a consortium of global investment banks to provide clearance and settlement services to Turquoise, their new pan-European multilateral trading facility. Another key achievement was the build-out of DTCC Deriv/SERV’s Trade Information Warehouse, including its launch of automated payment netting and central settlement for over-the-counter credit derivatives. The Asset Services unit finalized development of Loan/SERV, a service to streamline processing of syndicated commercial loans that is rolling out in 2008, and other business units implemented an array of service enhancements that will help customers lower their costs and reduce their operational risk.
Last year DTCC set another record for processing volumes, settling $1.86 quadrillion in transactions across diverse asset classes, up from more than $1.5 quadrillion in 2006. The company returned over $984 million in rebates, discounts and interest to customers, and cut 2008 transaction fees by $198 million. And DTCC earned world-class customer satisfaction scores for the fourth consecutive year; the overall customer satisfaction score in 2007 was 91%.
Celebrating Certainty and Possibilities is illustrated with the work of nine great painters. The artists, from the Americas, Europe and Asia, represent a diversity of talent and global spirit of innovation. @
[DTCC’s 2007 Annual Report will be mailed to customers at the end of April. If you have not received a copy by mid-May, you may request one by contacting Lorna Helwig at lhelwig@dtcc.com or order/view it online by visiting www.dtcc.com.]