DTCC Calls for Cross Industry Cooperation in Case of Cyber Attack
Publication Date: March 28, 2018

The Depository Trust & Clearing Corporation (DTCC) recently published a white paper that makes several recommendations to strengthen financial sector resiliency from cyber-risks, including increased coordination across the industry, the development and implementation of standards to facilitate effective response and recovery and adherence to regulatory principles. Andrew Gray, Chief Risk Officer at DTCC, stated, "An attack on one or more institutions or critical infrastructures could have a contagion effect across the financial system, especially as interconnectedness continues to grow. As a result, it is critically important that firms incorporate additional redundancies to ensure that the failure of any single institution can be contained and mitigated. To successfully achieve this, we must collectively prioritize resilience and recovery efforts across market participants, infrastructure providers, technology vendors and regulators."

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Read the DTCC white paper here >>