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The financial crisis of 2008 triggered a period of heightened change in U.S. financial markets that, even almost six years later, is still fundamentally altering the face of the industry. Since the crisis, policymakers and regulators have been writing and implementing reforms to mitigate risk. The Dodd-Frank Act, the financial reform law in the U.S., was put in place to protect the safety and soundness of the markets by strengthening risk controls and enhancing market transparency. The objective of this paper is to provide clients with a high-level snapshot of The Depository Trust & Clearing Corporation’s (DTCC) current priorities and the future direction of the settlement space in relation to these new regulations. It looks ahead at widening the focus on risk mitigation to include innovation, efficiencies and cost reduction to help enhance settlement processing.

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