Trillions in stock certificates flooded by Sandy

By Staff | November 2, 2012 | Last updated on November 2, 2012
1 min read

Trillions of dollars of stock certificates may be ruined after Hurricane Sandy flooded a vault at the Depository Trust & Clearing Corp, reports Financial Times.

The DTCC houses paper certificates for shares, bonds and other financial instruments. Since its vault remains underwater, staff admitted yesterday they’re unsure of the severity of the damage.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

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