DTCC plans Asia base for corporate actions

The Depository Trust & Clearing Corporation in New York, which has nearly $24 trillion of securities under custody, has developed a service to handle corporate actions processing and plans to set up an office in Asia for client servicing and marketing purposes, says James Femia, managing director. The organization is considering a number of locations in the Asia Pacific to open an office by the end of the year, seeded with four DTCC professionals from the New York and London ce…