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Depository Trust & Clearing Corporation

Learn how Depository Trust & Clearing Corporation (DTCC) manages paper and settlements for the financial services industry. Explore the process of broker-to-broker trades, risk management practices, and the importance of technology and data management.

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Depository Trust & Clearing Corporation

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  1. Depository Trust & Clearing Corporation Managing Paper for The Financial Services Industry Jay Baum Lars Petersson

  2. Subsidiaries Jay Baum Lars Petersson

  3. Settlement of Broker-to-Broker Trade • Brokers are given instructions to buy or sell on behalf of their client • Trade is made on an exchange or Marketplace (Day T) • Details of the trade are sent to the NSCC • NSCC processes and records the trade. Details and contracts are sent to the brokers with figure for net money settlement • DTC is instructed to move securities from Selling broker’s account to Buying broker’s account (T+3) Buying Broker Selling Broker 1 1 Marketplace 2 3 4 4 NSCC 4 5 DTC Jay Baum Lars Petersson

  4. Operations Risk Management Unit (ORM) • Risk and Control Self-Assessment • common framework • common language • Database of “Risk Events” • actual losses • near misses • opportunity costs • Key Risk Indicators Established • Reporting and Review Schedule Jay Baum Lars Petersson

  5. People & Culture Key Person Internal Theft Fraud Execution, Delivery & Process Management Data Input Customer Service Financial Controls Financial Reporting Legal/Regulatory Information Management Technology Interface Network Failure Software Corruption Business Continuity Communication Alternate sites Data access External Corporate Espionage Third Party Risk “Risk Universe” Jay Baum Lars Petersson

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