New Book Describes Clearance and Settlement – in Plain English
A new book is now available that describes clearance and settlement in a way that is accessible, readable and user-friendly – the “plain English” explanation of what happens after the trade.
Published by Lightbulb Press and co-authored by DTCC, this new publication, Guide to Clearance and Settlement: An Introduction to DTCC, is the first book of its kind produced by an industry infrastructure organization.
Plain-English Challenge
“This project was originally born from the need to have something to help educate our diverse constituencies – including public policymakers, regulators and the investing public – about the role DTCC plays in the industry, especially to broaden awareness during this intense period of financial re-regulation,” said Stuart Z. Goldstein, DTCC managing director, Corporate Communications. “The challenge in writing it, however, was not just in trying to distill our arcane business language into ‘plain English,’ but also to explain how, week-by-week, our business and our industry changes.”
The Wall Street Journal cited the publication in its “Overheard” column on November 18: “The ‘Guide to Clearance and Settlement’ explains an unglamorous but vital financial pillar, with such page-turning chapters as ‘Matching and Netting.’ Overheard welcomes the ‘plain English’ approach and the DTCC’s modesty: ‘We don’t expect our book to be a wild runaway New York Times bestseller’.”
[The Guide to Clearance and Settlement: An Introduction to DTCC is available from Amazon.com. You can also order it through DTCC’s website at www.dtcc.com.]