DTCC calls for financial system resilience
September 23, 2019

The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, has today called for establishing business resilience as an industrywide priority in a new paper, Resilience First.

DTCC says a paradigm shift is required to protect the global financial system from the significant threats posed by cyber-attacks, the rapid development and adoption of new technologies, the increased interconnectedness of the financial ecosystem, and growing industry-wide concentration risks, among other dynamics.

Business resilience refers to an organization's ability to safeguard its critical services against the threat of potentially disruptive events, regardless of their nature or origin, it adds.

"With the threat of potential disruptions continuing to grow, firms can no longer afford to focus on disaster recovery, business continuity management and cybersecurity in isolation," said Dan Thieke, Managing Director, Business Risk & Resilience Management.

"Resilience initiatives should look holistically at threats and aim to safeguard critical business services against a wide range of technical, physical, logical or financial disruptions."





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The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, has today called for establishing business resilience as an industrywide priority in a new paper, Resilience First.

DTCC says a paradigm shift is required to protect the global financial system from the significant threats posed by cyber-attacks, the rapid development and adoption of new technologies, the increased interconnectedness of the financial ecosystem, and growing industry-wide concentration risks, among other dynamics.

Business resilience refers to an organization's ability to safeguard its critical services against the threat of potentially disruptive events, regardless of their nature or origin, it adds.

"With the threat of potential disruptions continuing to grow, firms can no longer afford to focus on disaster recovery, business continuity management and cybersecurity in isolation," said Dan Thieke, Managing Director, Business Risk & Resilience Management.

"Resilience initiatives should look holistically at threats and aim to safeguard critical business services against a wide range of technical, physical, logical or financial disruptions."



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