Source: Depository Trust & Clearing Corporation
The Depository Trust & Clearing Corporation (DTCC) announced today the opening of a new City of London office at Broadgate West to support a growing range of global offerings and a customer base that increasingly operates around the world.
"By strengthening our London presence, we'll have an even broader base to provide our customers with increased service and support throughout Europe," said William B. Aimetti, DTCC's chief operating officer. "Since nearly half of our customer base are firms that operate globally, we are committed to expand our facilities in Europe to meet the growing needs of our global customers, who are looking to DTCC to help them reduce operational costs, streamline processing and manage risk wherever they operate."
The DTCC London office serves as the regional customer centre for its global services, including DTCC Deriv/SERV and the Trade Information Warehouse for OTC derivatives, the Global Corporate Action Validation Service (GCA VS), and a new service being developed for the alternative investment product (AIP) market. In addition, the London office provides a critical liaison to DTCC's European counterparts and industry organisations, as well as global hedge funds.
The London office supports a range of functions, including relationship management, software development, business development and day-to-day customer support. DTCC has more than doubled its London staff over the past year and anticipates additional staffing to meet its growing market needs in Europe.