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Industry Spotlight > Clearing and Custodial Firms

Preparing For The Unthinkable

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NU Online News Service, Oct. 13, 2004, 4:32 p.m. EDT

Officials from a company that helps keep the world financial system running will participate in a disaster recovery Web seminar 2 p.m. Nov. 22.[@@]

Scheduled seminar speakers include Donald Donahue, chief operating officer at the Depository Trust & Clearing Corp., New York, and Richard Nesson, DTCC’s general counsel.

DTCC handles the clearing and settlement of many annuity transactions as well as trades involving stocks, bonds and other financial products.

Although DTCC is based in lower Manhattan, it managed to continue to clear and settle trades Sept. 11, 2001, despite the disruption caused by the terrorist attacks. Since then, DTCC has expanded its efforts to protect its operations against future disasters, according to the Securities and Exchange Commission Historical Society, Washington, the group that will sponsor the disaster recovery Webcast.

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