DTCC opens alternative processing site
NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) is to open an alternative site for settling securities trades from US markets in case of a major regional emergency, according to Ken Wright, business continuity planning (BCP) project manager in corporate infrastructure contingency planning at the DTCC.
The company is investing over $34 million in building the processing infrastructure at a site in Tampa, Florida, where extensive back-up facilities will be established, and house as many as 500 employees by the end of 2006.
The DTCC's decision to create a back-up business centre was prompted by business continuity plans and government agency recommendations that the company establish redundant facilities "a significant distance" from its primary sites.
Over the next 18 months or so, the DTCC plans
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