DTCC REPORTS INCREASED REVENUES, FEE REDUCTIONS AND REBATES

Posted March 26, 2008

NEW YORK – The Depository Trust & Clearing Corporation (DTCC) announced that it cleared and settled more than $1.86 quadrillion in securities transactions in 2007, and reported record revenue of $1.69 billion for the year, along with $984 million returned to customers in discounts and rebates.

DTCC’s $1.69 billion in revenues last year was up 24 percent from its $1.36 billion in revenues in 2006. DTCC also announced a combined total of $198 million in fee reductions planned for its customers in 2008, after revising fees in 2007, resulting in $90 million in reductions last year.

“All in all, we had a very successful year at DTCC in handling high transaction volumes, helping to reduce risk and lowering costs for customers across asset classes we support – and we continued to expand our services globally,” says Donald F. Donahue, Chairman and Chief Executive Officer of DTCC. “DTCC recognizes that we are facing a new trading environment where customers require ever-greater levels of efficiency and stronger risk management. We are facing new venues for trading, new and complex instruments and risk transfer vehicles that demand new solutions to reducing risk and implementing technology to reduce costs, and we are responding to that challenge.”