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Demonstrating its commitment to promoting software development process standards that help support the rapidly changing needs of the financial marketplace, The Depository Trust & Clearing Corporation announced it has maintained its Level 3 Capability Maturity Model Integration (CMMI) certification.

CMMI is a globally known certification and ratings system for application development within the data and software development industry. It is awarded by members of the Software Engineering Institute (SEI) at Carnegie Mellon University to organizations that achieve its required standards for the planning, engineering and managing of the software development process.

“DTCC’s ability to maintain CMMI Level 3 certification for the third consecutive time (since 2008) confirms that the systems DTCC operates are of the highest quality and are supported by a reliable and well-defined application development process,” said Mark Cucarese, DTCC Vice President, Settlement Area.

The CMMI appraisal process began in December 2013 with a Class “B” appraisal, or pre-appraisal that helps to identify areas the ADM team should focus on before a “checkpoint audit” in June 2014. The checkpoint audit is conducted to uncover any final areas that may need improvement. The final Standard CMMI Appraisal Method for Process Improvement (SCAMPI) Class “A” appraisal occurred in October.  SCAMPI A is the most rigorous appraisal method and the only one that can result in a rating.

DTCC’s Applications Development and Maintenance (ADM) department led the initiative. Other DTCC departments that participated in the appraisal included Enterprise Quality Assurance, the DTCC Education Center, DTCC Product Management, IT PMO and DTCC Software Configuration Management.