DTCC to Intro Instant Settlement Service

Kellerhals, Richard
September 2010
High Yield Report;9/20/2010, Vol. 21 Issue 38, p27
This article focuses on the plan of Depository Trust & Clearing Corporation (DTCC) to start offering a service that will provide instant loan settlements. A New York-based banker says the DTCC service will attract new investors because settlement time has been a big obstacle to luring new people to the asset class. Christopher Childs of DTCC describes how the Cash on Tender service works. December 2010 is the scheduled launch date of the Cash on Tender pilot. Particular focus is given to the average amount of time needed to settle a par loan in the U.S.


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