Depository Trust and Clearing Corporation Risk Officer Warns Securities Conference Attendees Moments Before Nearly 1,000 Point Dow Plunge

I don't know if this means anything, because perhaps this guy was just lucky. Nevertheless, an officer at the DTCC warned securities conference attendees how the Greek crisis could lead to widespread panic in the financial markets. Moments later, the market dropped by nearly 1,000 points in a matter of minutes.

Shortly after the chief systemic risk officer of the Depository Trust and Clearing Corporation warned attendees at a securities operations conference Wednesday that Greece's crisis was a systemic problem, the Dow plunged almost 1,000 points.

Even if the "warning" means nothing, it gives me a chance to introduce The Depository Trust and Clearing Corporation to this blog. In case you have never heard of this entity, here is some initial information per the DTCC company website. I'll write additional information as I get more and more relevant stories.

About DTCC

DTCC, through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution net-works. DTCC's depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$33.6 trillion. In 2009, DTCC settled more than US$1.48 quadrillion in securities trans-actions. DTCC has operating facilities in multiple locations in the United States and overseas.