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Marking 40 years of service to the financial industry, The Depository Trust & Clearing Corporation (DTCC) has launched a new corporate brand positioning line – Securing Today. Shaping Tomorrow.SM which supports the strategic vision of the company and complements its new visual identity.
The brand strategy and strategic positioning underscore the critical role DTCC has played for four decades in protecting and preserving the integrity of financial system while also being at the forefront of facilitating innovation and change in the global capital markets.
“Throughout our history, clients and regulators have relied on DTCC and its predecessor companies to manage the crises, tackle challenges, and bring greater efficiency and risk mitigation to financial markets globally,” said Michael Bodson, DTCC President and Chief Executive Officer. “As the world’s largest financial infrastructure, the significance of this responsibility is fully reflected in the dedication our employees bring to work every day to mitigate risk both during normal trading days and extremely difficult periods such as the 9/11 attacks, the 2008 financial crisis, and Superstorm Sandy. Our new brand strategy not only honors our heritage, but also looks towards the future and our focus to strengthen and foster further growth in the global financial markets.”
First established in 1973, DTCC’S Depository Trust Company (DTC) subsidiary was created to address the paperwork crisis facing the financial industry as a result of the rapidly sharp increase in securities trading occurring in the market place. DTC streamlined Wall Street’s clerical workload by immobilizing and holding securities certificates in custody through its “book-entry” process and by introducing its Institutional Delivery, or ID, system to automate institutional confirmations of securities trades.
Today, DTC provides custody and asset servicing for securities issues from 131 countries and territories valued at US$37.2 trillion. Other services include securities underwriting, deposit and withdrawal, dividend, reorganization and proxy services, restricted securities and direct registration services. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law, and a registered clearing agency with the Securities and Exchange Commission.
Some of the key milestones from DTC’s 40 years in operation include:
- In 1987, receiving Fed approval to adopt Same-Day Funds Settlement, allowing trades in certain asset classes to settle in same-day funds.
- In 1990, processing the first paperless issue (Westinghouse) for commercial paper transactions. Today, the company processes all U.S. commercial paper transactions.
- In 1995, moving the U.S. equity settlement cycle from T+5 to T+3 in a seamless transition that dramatically reduces risk and makes T+3 the standard in the U.S. equity markets.
- In 1999, DTC and NSCC are brought under a new holding company, The Depository Trust & Clearing Corporation, or DTCC, bringing together the two companies to meet the industry’s needs for greater operational efficiency, lower costs and more robust risk management.
- In 2004, by settling more than one quadrillion dollars in securities transactions for the first time – a milestone it has accomplished every year since.
To read about forty of DTCC’s key accomplishments throughout its four decade history, go tohttp://www.dtcc.com/dtcc-anniversary
The branding initiative was unveiled publicly in DTCC’s digital 2012 Annual Report (www.dtcc.com/about/annuals/2012/index.php), which features DTCC’s new brand video “We are DTCC” (www.dtcc.com/about/annuals/2012/strategic-pillars.html) along with incorporating other new brand elements such as a newly designed corporate logo, visual identity and positioning line. DTCC is also launching an external digital brand advertising campaign in key financial media websites this month as well as a full redesign of its corporate website in the coming months.
“As the industry’s landscape continues to evolve, it’s important for DTCC to articulate the value it brings in safeguarding and driving positive change in the financial markets,” said Marie Chinnici-Everitt, DTCC Managing Director, and Chief Marketing Officer, “The three strategic pillars that underpin DTCC’s new brand identity - trusted leadership, critical insights and collaborative action - reflect DTCC’s mission to help redefine and shape the future of the global financial services industry.”
As DTCC celebrates 40 years of partnering with clients and industry leadership since creating DTC, DTCC also reflects on key accomplishments for 2012 which are featured in its most recent annual report:
- Successfully managed the unexpected on two occasions: during the Knight Capital technology failures and the aftermath of Superstorm Sandy.
- Launched the Mortgage-Backed Securities (MBS) Central Counterparty to reduce risk and costs in the $100-trillion-a-year U.S. market for MBS.
- Grew the Global Trade Repository infrastructure worldwide and by asset class to support reporting requirements for over-the-counter (OTC) derivatives.
- Launched the CFTC Interim Compliant Identifier (CICI) Utility to support OTC derivatives reporting requirements.
