DTCC plans Asia base for corporate actions

The US clearing and settlement body introduces a global service for the outsourcing of corporate actions processing.

The Depository Trust Clearing Corporation in New York, which has nearly $24 trillion of securities under custody, has developed a service to handle corporate actions processing and plans to set up an office in Asia for client servicing and marketing purposes, says James Femia, managing director.

The organization is considering a number of locations in the Asia Pacific to open an office by the end of the year, seeded with four DTCC professionals from the New...

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