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DTCC Launches New Corporate Identity
New Blue and Gold Logo Is Introduced
New York, November 1, 1999 -- The Depository Trust & Clearing Corporation (DTCC) today announced a corporate identity program to convey its expanding role in the changing financial services environment in the U.S. and overseas. DTCC was created by the integration of The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC).
The program includes the rollout of a new blue and gold company logo along with the unveiling of a new Web site at http://www.dtcc.com and new signage in DTCC lobbies and hallways.
"This initiative goes far beyond a new logo and new name," said JillM.Considine, CEO of the new holding company. "We are sending a clear and unmistakablemessage that we are now one team with a new and exciting mission -- to be the provider ofchoice worldwide for investment servicing solutions through leadership, innovation andtechnology.
"Collectively, we now have a much more powerful and effective organization to meetthe challenges facing our industry, including the explosion of trading volumes, extendedtrading hours, T+1, straight-through processing, risk management and globalization."
She noted that DTC and NSCC currently handle post-trade processing and custody oftransactions representing almost 60% of the world's entire market capitalization.
Symbolism of the Logo
Considine noted that the new DTCC logo, which features concentric blue lines that spiral outward from a gold circle, was designed to reflect DTCC's mission and capabilities.
"Our research with customers and employees has found that the new logo is verycompelling," she commented. "It visually communicates energy, innovation and themessage of our expanding role globally."
DTCC Rolls Out New Web Site
DTCC's new public Web site that went online today at http://www.dtcc.com provides an introduction to DTCC and in-depth information about DTC and NSCC products and services, as well as references and links to the DTC and NSCC Web sites
Announcements about the new corporate identity have been sent to all DTCC'scustomers and to senior officers of the exchanges and international central securitiesdepositories, as well as media press releases via the mail and the Internet. Allemployees, including those in the New York area, and in offices in San Francisco, Chicagoand London, also received a special message from Considine.
Background Information on DTCC, NSCC and DTC
In mid-September, DTC and NSCC announced that they had received all necessary regulatory approvals to begin formation of the holding company, DTCC. A formal offering to exchange current DTC and NSCC shares for shares in DTCC was sent to and has been accepted by the 130 shareholders of the two organizations. The formation of DTCC is the result of lengthy discussions with representatives of the financial industry who agreed in March to integrate the operations of DTC and NSCC. A single slate of directors was selected in June to serve on the boards of DTC, NSCC and DTCC. A single executive management team was named for DTCC this summer, and management discussions on combining the organizations have been ongoing since the spring.
The Depository Trust Company (DTC) is the world's largest securities depository,holding nearly $20 trillion in assets for its participants and their customers. DTC is anational clearinghouse for the settlement of trades in corporate and municipal securitiesand performs securities custody services for its participating banks and broker/dealers.Last year, DTC processed over 164 million book-entry deliveries valued at more than $77trillion. Owned by members of the financial industry who are its users, DTC is a limitedpurpose trust company under New York Banking Law, a member of the Federal Reserve Systemand a registered clearing agency with the Securities and Exchange Commission.
National Securities Clearing Corporation, established in 1976, is the leading providerof centralized post-trade comparison, trade guarantee, trade netting, settlement andinformation services for equities, bonds, Unit Investment Trusts, mutual fund andinsurance transactions in the United States. Its participants include more than 2,000broker/dealers, banks, mutual fund companies, insurance carriers and other financialintermediaries. Last year, NSCC cleared and settled transactions in excess of $44.6trillion. NSCC is owned by the New York Stock Exchange and the National Association ofSecurities Dealers, Inc.