Highlights of 2007
Among DTCC’s highlights of 2007:
- Increased NSCC’s processing capacity to 280 million transactions a day from 160 million, a 77% increase.
- Completed the consolidation of FICC’s business applications into DTCC’s data replication and recovery technology, the last applications that needed to be brought into the business continuity framework.
- Launched a new Managed Accounts Service with 15 investment managers and three broker/dealers.
- Responded effectively to market turmoil in the second half of the year by handling several instances of defaults on asset-backed commercial paper issues without incurring any loss.
- Implemented a service to support matching and netting of U.S. Treasury prime broker transactions.
Other key statistical milestones for 2007 included:
- DTCC’s depository held in custody $7.6 trillion of non-U.S. issues of the total $40 trillion value of all securities held by the depository.
- Mutual fund activity through Fund/SERV, NSCC’s main mutual fund service, jumped to an average of 676,000 transactions a day, up 19% from the prior year’s 569,000 daily volume. Total dollar value of the transactions rose to $2.5 trillion in 2007, up 19% from $2.1 trillion in 2006.
- Insurance Services saw the volume of transactions settled jump to 63.1 million from 53.5 million, up 18%. Dollar value of transactions settled increased to $20.8 billion in 2007 from $16.3 billion settled in 2006, an increase of 28%.
- The number of Underwritings handled by the depository increased 7% to 54,266 in 2007 from 50,867 in 2006, although the value declined 3% to $4.3 trillion from $4.4 trillion.
- Cash dividend, interest, redemption and reorganization transactions processed by DTCC’s depository rose 17%, totaling $3.8 trillion compared to $3.3 trillion in 2006.
- The Global Corporate Action Validation Service (GCA VS) provided more than 1 million validated corporate action announcements globally, up 17% compared to just under 900,000 in 2006, and provided 3 million announcements about scheduled payments for fixed income securities.
GCA VS maintains service centers in New York, London and Shanghai to provide around-the-clock global coverage of corporate actions events. @