DTCC opens Southern Business Center – a key component of its business continuity strategy Speaking at the opening Considine stressed that the SBC represents a new chapter in DTCC history. The new SBC is a key component of a larger business continuity strategy that DTCC has undertaken since Sept. 11, 2001 to safeguard the certainty and resiliency of the nation's financial services system. Since last December, DTCC has been able to complete settlement of securities trades in US markets at this new facility, which it has called a ‘critical part’ of its network of which it has multiple operating centres and numerous backup capabilities throughout the US. Considine said that, while DTCC on Sept. 11 continued to operate without disruption and settled trades involving billions of dollars, the company "learned some lessons that day." "One is the need to further decentralize our workforce," she said, "so that we don't have all our brain power - our skilled employees - in one geographic location. The other is the need to decentralize our facilities. So we looked at many sites, and one of the sites we chose is here in Tampa. "The object is to ensure that we can sustain our business operations, even in the face of considerable disruption. If we can't do our job, it begins to affect the safety and soundness of US financial markets in general." DTCC chose Tampa from among nearly 300 other cities considered because of ‘its knowledgeable workforce, local power and telecommunications infrastructure, affordable housing, diversity, educational resources, good medical facilities, accessible airports and reasonable cost of living.’
•Date: 18th March 2005 • Region: N.America •Type:
Article •Topic:
Financial sector BC |
