DTC Will Lose Trade Confirmation Monopoly
Traders Magazine, December 1997
Private vendors will be allowed to confirm and affirm trades between institutional customers and broker dealers under a plan announced by the National Association of Securities Dealers.
Rules approved in 1982 restrict confirmation and affirmation, or acknowledgment services, to Securities and Exchange Commission-registered clearing organizations, such as the New York's Depository Trust Company (DTC). The DTC currently has a monopoly in the confirmation and affirmation business.
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