DTCC seeks to accelerate end of paper stock certificates

03/13/2013 | Wall Street Journal, The

Depository Trust & Clearing is striving to accelerate efforts to remove older paper stock certificates from circulation and end the issuance of new ones. "It's a much more costly and risk-prone way of holding assets," said Dan Thieke, managing director in asset services at DTCC. "Those assets can be destroyed. They can be lost. When they're lost, they need to be replaced, and there's costs associated with that." DTCC CEO Michael Bodson will be one of the featured speakers at SIFMA's 40th Operations Conference & Exhibit, April 28-May 1, in Boca Raton, Fla. Register today.

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