The Depository Trust & Clearing Corporation (DTCC) 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 2008, DTCC settled more than $1.88 quadrillion in securities transactions across multiple asset classes. A tightly integrated strategy and operational management system is one reason why DTCC maintains a AAA credit rating. They adopted the Balanced Scorecard to monitor new sources of revenue, product development, and customer acquisition, while continuously optimizing costs. “DTCC’s job, in providing the financial industry’s world-class processing infrastructure, is to reduce risk, lower costs and facilitate growth for our customers, and safeguard the integrity of the financial system,” says Donald F. Donahue, chairman and CEO. “The BSC helps drive and measure our efforts in these areas, and provides a roadmap to guide us and keep all employees focused on what is vital to our success.” Since adopting the BSC, new-product revenue has grown more than 550%, customer satisfaction is up 25% (to 91%, four percentage points above the industry average); employee engagement is up 19%; and the cost of core operations has been reduced 5%. In 2008, during the market meltdown, DTCC completed the largest close-out in history—Lehman Brothers’ $500 billion portfolio liquidation—without any loss to DTCC customers or taxpayers. In the stormy financial environment of the past year and a half, DTCC has provided its customers with smooth sailing.