All DTCC Subsidiaries Open for 'Business as Usual,' Despite Threat of Transit Strike.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Depository Trust & Clearing Corporation (DTCC DTCC See: Depository Trust and Clearing Corporation ) said today that it would be open for "business as usual" to clear and settle trades from U.S. markets, even in the event of a city-wide transit strike in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. tomorrow. DTCC said that all its subsidiaries, including The Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion , National Securities Clearing Corporation, Fixed Income Clearing Corporation, DTCC Deriv/SERV and Global Asset Solutions LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , will be operating normally, even with potential transportation difficulties in the metropolitan area affecting staff levels. "We want to assure customers that our business activities will not be impaired by a transit strike," said Stuart Z. Goldstein, managing director, DTCC Corporate Communications. "As part of our own contingency plans, we are fully prepared to shift operations as necessary to our multiple U.S. operating sites and alternate data centers to handle our normal clearing and settlement activities." About DTCC Through its subsidiaries, DTCC provides clearance, settlement and information services See Information Systems. for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives. DTCC's depository also provides custody and asset servicing for almost two and a half million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com. |
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