Why is DTCC redesigning its existing systems?
A. Our current underwriting systems, built and operated by DTCC’s depository (DTC), continue to serve our current needs. However, we have had to make numerous updates and additions to the systems over time to accommodate the new types of securities and emerging asset classes. Making such changes is increasingly challenging and expensive. Consequently, the major purpose of the underwriting reengineering is to modernize these systems and integrate corporate actions, dividend payment and underwriting into a single platform utilizing enhanced functionality to capture the new asset classes. We also want to consolidate and streamline processing, generate further efficiencies, reduce costs and build in greater flexibility.
