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Interconnectivity Between DTCC's SMART Network and SIAC's SFTI Network Now Active
- Highly resilient network options available to customers
New York, November 3, 2003 - The Depository Trust & Clearing Corporation (DTCC) today announced that the interconnection between its Securely Managed and Reliable Technology ("SMART") network and the Secure Financial Transaction Infrastructure ("SFTI") offered by the Securities Industry Automation Corporation (SIAC) is now active, creating a new level of reliability for customer communications with the market infrastructure.
Almost all services offered by the DTCC subsidiaries National Securities Clearing Corporation (NSCC), the Government and Mortgage-Backed Securities Divisions of Fixed Income Clearing Corporation (FICC), and Emerging Markets Clearing Corporation (EMCC) are now equally available through SMART or SFTI. At this time, DTCC's settlement and depository services, offered by The Depository Trust Company (DTC), are accessible only via SMART.
"DTCC and SIAC have been working diligently to provide the financial industry with a highly resilient core clearance and settlement infrastructure," said Jim Umberger, managing director, Customer Access, DTCC. "We are pleased to announce these two networks, SMART and SFTI, are now fully interoperable."
With these highly resilient network options available to customers, older, less robust facilities will be retired next year. Effective December 31, 2004, services offered by NSCC, FICC, and EMCC will no longer be accessible via the Broker and Access networks currently supported by SIAC. Customers of these clearing corporations have the option of upgrading their connections to these services via DTCC's SMART or SIAC's SFTI.
SMART business continuity
DTCC's SMART communications facilities have evolved as an integral part of DTCC's world-class business continuity capabilities. DTCC's end-to-end management of its network affords multiple levels of resilience, including centralized emergency management and recovery. All of DTCC's operations, including the entire SMART network, are fully redundant and can be controlled from any of DTCC's multiple data processing locations. SMART's resiliency has been demonstrated through events ranging from the attacks of September 11, 2001 to the most severe blackout in U.S. history experienced in mid-August.
Features of SMART
SMART is designed to meet the complex needs of DTCC's customers who use a broad range of connections.
- SMART provides communications connecting two or more of a customer's operating locations to all of DTCC's multiple processing sites. These connections use diverse routes and carriers to ensure reliable connectivity between DTCC and its customers.
- DTCC manages SMART end-to-end, from its facilities to DTCC-supplied routers installed on the customer's premises. All elements in the communications path are registered with the Department of Homeland Security for high-priority restoration in the event of outage.
- All DTCC services are accessible over a single pair of SMART connections, which scale from dial-up to DS3 bandwidth.
About DTCC
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, over-the-counter credit derivatives and emerging market debt. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.