Oct 06, 2017
• Issues & Initiatives
Media Alert: DTCC Comments on Senate Confirmation of Federal Reserve Vice Chairman Randal Quarles
New York, NY – October 5, 2017 – The Depository Trust & Clearing Corporation (DTCC) today issued the following statement in response to Senate confirmation of the new Federal Reserve Vice Chairman for Supervision: Randal Quarles.
“We congratulate Randal Quarles on becoming Federal Reserve Vice-Chairman for Supervision, and look forward to working closely with him to ensure the continued safety and soundness of the global financial system.”
With more than 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 16 countries, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and 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 2016, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $1.5 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at U.S. $49.2 trillion. DTCC’s Global Trade Repository maintains approximately 40 million open OTC positions per week and processes over one billion messages per month. To learn more, visit us at www.dtcc.com or connect with us on LinkedIn, Twitter, YouTube and Facebook.