Depository Trust & Clearing Corporation Selects IBM to Integrate and Consolidate Billing Systems

Depository Trust & Clearing Corporation Selects IBM to Integrate and Consolidate Billing Systems

IBM today announced that the Depository Trust & Clearing Corporation (DTCC), the largest financial services post-trade infrastructure organization in the world, has selected IBM’s information integration software to help transform the organization’s legacy billing systems.

With virtually all Wall Street transactions passing through DTCC and the volume of transactions growing at double-digit rates, the need to enhance flexibility, security, regulatory compliance and on-demand access to mission-critical data drove the need to consolidate billing across both mainframe and distributed systems, and laid the groundwork for a new data warehouse solution that can be leveraged throughout the organization for new business efficiencies. Last year, DTCC completed financial settlement for more than $1.1 quadrillion in securities transactions.

“The biggest benefit of this solution is it will give us the ability to react more quickly to the changing marketplace,” said Gary Apruzzese, vice president, DTCC Shared Services. “This project connects technical staff and business users, and aligns IT and business goals enabling us to supply information on demand to product managers and controllers as they require it so they can revise or alter pricing, and provide quicker time to market for these types of changes. It also enables us to have faster response time to customers who have questions on the content of their invoices.”

Read the complete Press Release