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Wall Street Backs Blockchain for Savings on Derivatives DTCC chooses startup Axoni to use the tech behind bitcoin to track payouts between big banks Telis Demos Jan. 9, 2017 A big Wall Street middleman is bringing in the technology behind the digital currency bitcoin to try to save banks tens of millions of dollars on fees for derivatives trades. Following a series of tests last year, the Depository Trust & Clearing Corp. has picked startup Axoni to use a blockchain—the networking system originally created to move digital currencies—to start tracking credit-derivatives payouts between big banks by early next year, the...

Trillions of dollars worth of stock certificates and other paper securities that were stored in a vault in lower Manhattan may have suffered water damage from Superstorm Sandy. The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault "are likely damaged," after its building at 55 Water Street "sustained significant water damage" from the storm that battered New York City's financial district earlier this week. The DTCC provides "custody and asset servicing" for more than 3.6 million securities worth an estimated $36.5 trillion, according to its website. "At this point, it...

Lynch amendment spooks DTCC Author: Duncan Wood Source: Risk magazine | 03 Mar 2010 As dealers and legislators feud over reform of the over-the-counter derivatives market, at least one innocent bystander – New York-based post-trade utility the Depository Trust & Clearing Corporation (DTCC) – has been caught in the crossfire. At the end of February, DTCC staff travelled to Washington, DC to voice their concerns. It's a real pain for them. It's one thing having a go at banks but the consequence of this amendment is that it's now sweeping up a utility as well At issue is an amendment...

Bloomberg video posted on Google video

What is the DTCC? http://www.dtcc.com/ The Depository Trust and Clearing Corporation. It records all the Stock Transactions. Everything having to do with US Stocks and the selling of Debts. EVERYTHING. Who, when, where, and how much, volume. Everything. Getting Oversight into this agency is nearly impossible without a LOT of political weight to it... like all of Government and the US People DEMANDING it, along with a Media that is finally on the side of the people they report FOR (us)... that MIGHT work. Up to now, the Media has Ignored Naked Short Selling, even as they DENIED its existence....

Sunday, October 23, 2005 The $10 Billion REFCO Smoking Gun The listing for the assets and liabilities of REFCO was just made available, and guess what just happens to be hiding in the liabilities column? A $10 billion liability, at TODAY's mark to market valuation, called "Securities sold, not yet purchased." $10,590,379,000 - to be precise. Securities that have been sold. But they haven't been bought. Welcome to the wonderful world of naked short selling. Now, one might say, "hey, wait a minute, but Thompson of the DTCC said it's only a $6 billion per day problem." Only.

Aug 25, 2005 12:42:00 AM financialwire.net via COMTEX August 25, 2005 (FinancialWire) With JPMorgan Chase & Co. (NYSE: JPM), Deutsche Bank AG (NYSE: DB), Goldman Sachs Group Inc., Morgan Stanley (NYSE: WMD) and Merrill Lynch & Co. (NYSE: MER), who dominate the credit-derivatives market, reportedly among 14 banks being called on the carpet by the NY Fed over "unconfirmed trades," and a super task force of regulators reportedly auditing the top brokerages over allegations of illegal naked short selling, it could soon be "SHO and tell" time. Regulators are smarting over allegations that they gave super hedge funds a free...

What’s worse than Enron and Worldcom? STOCKGATE, the biggest scandal to hit the markets yet! By: Kevin M. West Americans saw the television airwaves lit up this week with closure coming to the Worldcom fiasco by way of the CEO finally being held accountable for the crimes committed. Now we can finally sit back and say to ourselves “justice has prevailed and our SEC is really on top of their game”. Or can we? The SEC has gone after Worldcom, Martha Stewart and Enron, but what about the biggest fraud in the market? Are they attempting to really go after...

A Dozen Answers From Dr. Byrne By Patrick Byrne August 24, 2005 On Aug. 18, Seth Jayson wrote an article that asked 12 questions of Overstock.com (Nasdaq: OSTK) CEO Patrick Byrne. Dr. Byrne graciously responded. The Motley Fool has edited Dr. Byrne's comments, mostly for brevity and clarity, but granted Dr. Byrne the ability to accept or reject the final article. That you see this online is evidence that Dr. Byrne has acceded to its publishing in this form. The thoughts expressed below are Patrick Byrne's and do not represent the views or positions of The Motley Fool or its...

StockGate: Is All Heck About To Break Loose? via COMTEX Aug 25, 2005 12:42:00 AM Aug 25, 2005 (financialwire.net via COMTEX) -- August 25, 2005 (FinancialWire) With JPMorgan Chase & Co. (NYSE: JPM), Deutsche Bank AG (NYSE: DB), Goldman Sachs Group Inc., Morgan Stanley (NYSE: WMD) and Merrill Lynch & Co. (NYSE: MER), who dominate the credit-derivatives market, reportedly among 14 banks being called on the carpet by the NY Fed over "unconfirmed trades," and a super task force of regulators reportedly auditing the top brokerages over allegations of illegal naked short selling, it could soon be "SHO and tell"...