DTCC Operations Ran During Sandy, Vault Status Still Unclear

The Depository Trust & Clearing Corp. processed about $19 trillion in securities trades last week even as Hurricane Sandy submerged its 40-year-old underground Manhattan vault holding physical stock and bond certificates.

The company switched day-to-day command of its operations to its office in Tampa, Florida, and moved control of the technology that runs its clearing and settlement business and record-keeping to its Dallas data center the weekend before the Atlantic’s largest-ever tropical storm, Michael Bodson, president and chief executive officer of New York-based DTCC, said in a telephone interview. The average value of transactions processed weekly this year is $23.1 trillion, DTCC said.