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Nov 02, 2012 • Press Releases

DTCC Resumes Processing of Physical Securities

DTCC Resumes Processing of Physical Securities

New York, November 2, 2012 – The Depository Trust & Clearing Corporation announced today that it has resumed daily physical processing of securities from its Brooklyn operations center, re-establishing critical processing and mechanisms for clients to receive position credit for deposits, reorg entitlements, and Direct Registration System (DRS) statement withdrawals.

DTCC also began supporting Deposit Services yesterday for clients able to make delivery of physical securities to DTCC’s Brooklyn location. The company is working with its courier services to have all receipted packages routed to this recovery facility. All other services related to physical securities processing are expected to follow in the next several days.

“DTCC has in place a comprehensive business continuity plan and we have been working closely with the industry since the storm to restore this last piece of functionality,” said Michael Bodson, CEO and President, DTCC. “DTCC has maintained operations since the on-set of Superstorm Sandy seamlessly shifting clearing, settlement and other processes to multiple out-of region operations facilities.”

The company’s subsidiaries, DTC, FICC and NSCC, including Mutual Funds Services, Alternative Investment Products services, and Insurance & Retirement Services, continue to follow their normal processing schedules for all transactions and applications. All deadlines for NSCC and FICC clearing fund, DTC participants’ fund, settlement and other processes continue to be met.

DTCC’s headquarters location in lower Manhattan has sustained significant water damage as a result of storm flooding. While DTCC is closely monitoring the situation, the building remains inaccessible until power is restored and an on-site health and safety inspection can be completed. As the DTCC vault was sealed prior to evacuating the building and remains submerged, determining the extent of the damage would be speculative at this point.

“Although sea water levels have returned to normal, the lower floors in the building remain flooded. Our computer records are fully intact, including detailed inventory files of the contents of the vault.” said Bodson. “At this point, it is pre-mature to make an accurate assessment as to the full impact of the water damage nor would it be helpful to project on what specific actions need to be taken with respect to our vault. We are aggressively working on this situation to minimize disruption to our clients and will provide additional updates as more information becomes available.”

For detailed information regarding day-to-day Cede & Co. physical processing, please refer to the Important Notices located on the company’s website, or visit

About DTCC

Through multiple operating facilities and data centers around the world, DTCC and its subsidiary companies automate, centralize, and standardize the processing of financial transactions for thousands of institutions worldwide. With 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US$39.5 trillion. DTCC’s global OTC derivatives trade repositories record more than US$500 trillion in gross notional value of transactions made worldwide across multiple asset classes.

Judy Inosanto



Richard Marulanda
(813) 470-2150