March 26, 2008 at 12:39 PM
The Depository Trust & Clearing Corp. says it cleared and settled more than $1.86 quadrillion in securities business in 2007.
Revenue at the DTCC, New York, increased to $1.7 billion, up from $1.4 billion in 2006.
The DTCC’s National Securities Clearing Corp. subsidiary clears most trades conducted through the New York Stock Exchange, the NASDAQ Stock market and other U.S. exchanges, electronic communications networks and alternative trading systems.
The DTCC, which is not allowed to keep any profits, used discounts and rebates to return about $984 million in “excess revenue” to customers.
The company’s insurance services division settled 63 million insurance transactions, up from 53 million in 2006.
The dollar value of the insurance transactions settled increased to $21 billion, from $16 billion.
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