Audit executives at three different U.S. clearing houses offer their take on resiliency and disruption, third-party risk, and insider threats.
In daily business news, organizations like the Depository Trust & Clearing Corp. (DTCC) or the Options Clearing Corp. (OCC) typically don't make headlines. That could be considered a good thing. DTCC and OCC are clearing houses, acting as intermediaries between financial institutions such as banks and investment firms. Operating largely behind the scenes, clearing houses are responsible for clearing and settling millions, or even trillions, of dollars daily in securities exchange and other financial markets. (See "Clearing Houses Defined" below.)