SEC Historical Society to Host Webcast On DTCC Business Continuity.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 & WASHINGTON -- The Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. Trust & Clearing Corporation (DTCC DTCC See: Depository Trust and Clearing Corporation ) will discuss business recovery requirements for clearance and settlement organizations as a result of 9/11 on a special webcast on November 11 at 2 p.m. sponsored by the Securities and Exchange Commission Historical Society. The webcast will feature a discussion with Donald F. Donahue, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of DTCC and Richard Nesson, DTCC managing director and general counsel. The discussion, part of the SEC Historical Society's fireside chat series, will be moderated by Donald C. Langevoort, Thomas Aquinas Reynolds Professor of Law with the Georgetown University Law Center Also attended
Visitors to the SEC Historical Society's Web site at www.sechistorical.org by or before November 5 can submit questions that can be included in the webcast, or questions can be emailed directly to c.rosati@sechistorical.org. DTCC provides the primary post-trade infrastructure for the U.S., clearing and settling virtually all retail and institutional trades in equities, corporate bonds, municipal bonds, U.S. government securities, mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. , commercial paper, and other securities, amounting to more than $3.5 trillion daily. While DTCC has multiple operating and data facilities, its main headquarters is in lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North , just blocks from Ground Zero. While the markets closed on 9/11 and the days immediately after, DTCC was able to continue clearance and settlement operations of previous days' trades. Although operations were able to continue uninterrupted, DTCC immediately embarked on a substantial effort to provide even more geographically diversified capabilities and telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. resiliency to support virtually all trading parties in the U.S. that clear and settle through DTCC's subsidiaries. The changes and enhancements to DTCC's business continuity program were detailed in a report to the industry in February 2004, which is available on DTCC's Web site at www.dtcc.com under "Thought Leadership" and "White Papers." The business continuity capabilities of the clearance and settlement system in the U.S. has also been the focus of a report the Federal Reserve, SEC and Office of the Controller of the Currency, which set minimum requirements for ensuring the system could survive and operate in the event of a terrorist attack. About DTCC The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, 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 more than two million securities issues from the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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. About the SEC Historical Society Through its virtual museum, the Securities and Exchange Commission Historical Society seeks to make broadly available an objective analysis of the impact that the U.S. Securities and Exchange Commission has had on the growth of American and world financial markets since the SEC's founding in 1934. The virtual museum contributes to the understanding of how the SEC has shaped and continues to shape U.S. and international capital markets. The Society, founded as a 501(c)(3) non-profit institution in 1999, is independent of and separate from the U.S. Securities and Exchange Commission, and receives no federal funding. The Society is also separate from and independent of ASECA - the Association of SEC Alumni. |
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