The Depository Trust & Clearing Corporation (DTCC) announced that is has come to an agreement with representatives of the Securities Transfer Association (STA) on the protocol for the presentment of evidence of ownership in lieu of physical certificates which are currently inaccessible in DTCC’s 55 Water Street offices. The agreement balances the needs of the transfer agents and issuers, while facilitating DTCC’s ability to efficiently continue physical processing on behalf of the industry while its vault inventory is inaccessible.
This continues DTCC’s recent announcement of its UK expansion with a new operations facility, the new facility supports operations for the interim legal entity identifier solution, known as the CICI Utility, which was developed jointly by DTCC and SWIFT to meet global industry requirements, leveraging Avox’s business reference data capabilities. The CICI Utility database houses over 30,000 legal entity records representing entities from over 110 countries.
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