DTCC’s Strategic Modernization and the Path to T+1 Settlement

Frank La Salla, President and CEO of DTCC, reflects on the firm’s pivotal role in guiding the North American financial industry through the transition to T+1 settlement. The initiative, dubbed the ’Year of Execution,’ required extensive coordination to ensure seamless system updates and testing across firms.

Beyond T+1, DTCC advanced strategic priorities including U.S. Treasury clearing, global derivative rule refits, and the development of digital asset infrastructure through its newly established DTCC Digital Assets division. La Salla emphasizes the lessons global markets can learn from this large-scale operational overhaul.

The MOVE to accelerated settlement cycles underscores the financial industry’s broader push toward modernization, with digital assets playing an increasingly central role in infrastructure development.