$2 Quadrillion footnote about 55 Water Street flooding DTCCSubmitted by Mark Twain on Sat, 12/01/2012 - 20:10
2011 (as reported in DTCC footnotes in 2012):
DTCC (a private banking company at 55 Water Street, NY NY)... processed transactions valued at approximately US $1.7 quadrillion. Its depository... valued at US $39.5 trillion. DTCC’s global [Over the Counter] OTC derivatives... record more than US $500 trillion.
- Where oh where has my $2 Quadrillion gone? Where oh where could it be? With my Dollars cut short... And my hours cut long... Where oh where could it be?
Ahoy mate! Avast! (Hey there! Get a load of this stocking stuffer!)
Footnote: About DTCC
Through multiple operating facilities and data centers around the world, DTCC and its subsidiary companies automate, centralize, and standardize the processing of financial transactions for thousands of institutions worldwide. With 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC’s subsidiaries processed securities transactions valued at approximately US $1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US $39.5 trillion. DTCC’s global OTC derivatives trade repositories record more than US $500 trillion in gross notional value of transactions made worldwide across multiple asset classes.
Here is a story about the flooding which swamped the aforementioned $39.5 Trillion in certificates in the $2 Quadrillion footnote.
Here is yet another $2 Quadrillion footnote from DTCC.