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Susan Cosgrove, Managing Director, The Depository Trust & Clearing Corporation | April 1, 2011


The challenge of processing broker-to-broker obligations confirmed and settled outside a clearing corporation (known as ex-clearing) has intensified in recent years as financial firms need real time information has increased. At the same time, some in the industry have raised the red flag because these transactions, which are confirmed and settled directly between brokers using highly manual and error prone processes, potentially create operational and counterparty risk.

Download the Congressional Testimony: Managing the Risk of Ex-Clearing Trades