Depository Trust & Clearing Corporation Selects IBM to Integrate and Consolidate Billing Systems

Information On Demand Is Mission-Critical Requirement for World's Largest Post-Trade Infrastructure

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SOMERS, NY - 13 Jul 2005: IBM today announced that the Depository Trust & Clearing Corporation (DTCC), the largest financial services post-trade infrastructure organization in the world, has selected IBM's information integration software to help transform the organization's legacy billing systems.

With virtually all Wall Street transactions passing through DTCC and the volume of transactions growing at double-digit rates, the need to enhance flexibility, security, regulatory compliance and on-demand access to mission-critical data drove the need to consolidate billing across both mainframe and distributed systems, and laid the groundwork for a new data warehouse solution that can be leveraged throughout the organization for new business efficiencies. Last year, DTCC completed financial settlement for more than $1.1 quadrillion in securities transactions.

"The biggest benefit of this solution is it will give us the ability to react more quickly to the changing marketplace," said Gary Apruzzese, vice president, DTCC Shared Services. "This project connects technical staff and business users, and aligns IT and business goals enabling us to supply information on demand to product managers and controllers as they require it so they can revise or alter pricing, and provide quicker time to market for these types of changes. It also enables us to have faster response time to customers who have questions on the content of their invoices."

The billing consolidation project will rely upon the IBM WebSphere Data Integration Suite to consolidate information from three mainframe billing applications into a single, server-based billing system, allowing the organization to respond more rapidly to market changes and provide better customer service.

With the WebSphere Data Integration Suite, DTCC will protect its existing investment in mainframe programs, data, and resources, while at the same time migrating corporate information to a state-of-the-art billing application. This will enable DTCC to benefit from improved infrastructure efficiencies by using the mainframe for data analysis wherever it is required within the enterprise, or off-load transaction processing to alternative server-based platforms for computing efficiency.

The WebSphere Data Integration Suite (formerly known as the Ascential Enterprise Integration Suite) is a comprehensive data integration solution that profiles, cleanses, and transforms data from virtually any application or system regardless of data volume or latency.

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