New York, December 15, 2005 - The Depository Trust & Clearing Corporation (DTCC) said today that it would be open for "business as usual" to clear and settle trades from U.S. markets, even in the event of a city-wide transit strike in New York City tomorrow.
DTCC said that all its subsidiaries, including The Depository Trust Company, National Securities Clearing Corporation, Fixed Income Clearing Corporation, DTCC Deriv/SERV and Global Asset Solutions LLC, will be operating normally, even with potential transportation difficulties in the metropolitan area affecting staff levels.
"We want to assure customers that our business activities will not be impaired by a transit strike," said Stuart Z. Goldstein, managing director, DTCC Corporate Communications. "As part of our own contingency plans, we are fully prepared to shift operations as necessary to our multiple U.S. operating sites and alternate data centers to handle our normal clearing and settlement activities."
Through its subsidiaries, DTCC provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives. DTCC's depository also provides custody and asset servicing for almost 2.5 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.
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