Apr 23, 2015
• Issues & Initiatives
Statement on the U.S. House of Representatives' Passage of H.R. 1731 and H.R. 1560
New York, NY - April 23, 2015 - The Depository Trust & Clearing Corporation (DTCC) today issued the following statement in response to the U.S. House of Representatives' passage of the National Cybersecurity Protection Advancement Act of 2015 (H.R. 1731) and the Protecting Cyber Networks Act (H.R. 1560):
"DTCC applauds House passage of H.R. 1731 and H.R. 1560, which represents an important step in achieving the nation's goal of improving information sharing to protect critical infrastructure from cyber threats. It is essential that the federal government and the private sector are able to share threat information efficiently and effectively to prepare for and respond to cyber attacks. The passage of this crucial legislation reflects strong House leadership in addressing this dynamic challenge. DTCC looks forward to working with Congress on a number of critical issues raised during the House debate to ensure they are addressed as the Senate moves forward. To maximize the nation’s resilience to cyber attacks, DTCC urges the Senate to move swiftly to bring its cybersecurity bill to the floor and looks forward to working with Congress to ensure that the final bill sent to the President’s desk achieves this important goal.”
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With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 15 countries, DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. User owned and industry governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets. In 2013, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from 139 countries and territories valued at US$43 trillion. DTCC’s global trade repository processes tens of millions of submissions per week. To learn more, please visit www.dtcc.com or follow us on Twitter @The_DTCC.