Senior Engineering Manager - Custody

About the job

In 1968, the New York Stock Exchange began closing on Wednesdays so brokerage firms could catch up on paperwork. Every transaction depended on physical stock certificates being delivered, recorded, and reconciled. Trading had outgrown the infrastructure behind it. The expression “Paperwork crisis” had entered the nation's agenda resulting in other temporary measures like shortened trading days and extending settlement. The industry responded with electronic clearing systems and the establishment of the Depository Trust & Clearing Corporation (DTCC) laying the foundation for markets that could operate at an entirely different scale. Every share needs an identity, every movement needs a…