Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:New Product To Tighten The Settlement Process Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 21, 2004

New Product To Tighten The Settlement Process

by: Nicole Halsey

The Depository Trust & Clearing Corporation'(DTCC) has begun implementing a new system which aims to reduce risk and transform the settlement process.

DTCC, through its subsidiaries, provides clearance and settlement services trades done on the New York Stock Exchange, Nasdaq, the American Stock Exchange and for all regional exchanges and electronic communications networks (ECNs) in the United States, amounting to more than $1.4 trillion each day.

The Depository Trust Company, a DTCC subsidiary, a DTCC subsidiary, will run the Investment Management System which is being installed in phases with plans extending into 2005.

Some of the current features of the product include:

  • Introduction of a new "passive authorization" that enables customers to direct that institutional trades be processed automatically, unless exempted by the customer. This is in addition to the existing "active authorization" option where trades are processed only when authorized by the customer.

  • Use of a "passive authorization profile" or "active authorization profile" for different types of securities including equity, municipal debt, corporate debt, and money market instruments.

  • A new profiling system, which allows customers greater control over the timing and order of their deliveries by transaction types and asset class via pre-defined profiles.

  • The automatic re-introduction for processing and settlement of institutional and account transfer transactions that were dropped or failed to settle during an earlier cycle.

    New features will include the ability to accept settlement dates up to several months in advance, increased control and timing over transactions, including night deliver orders (NDOs) and broker-to-broker balance orders.  

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 0.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2024: Q2Q1
    2023: Q4Q3Q2Q1
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2024
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use