Wall Street Pursues Total Recall

The securities lending industry can teach California a thing or two about how to run a recall. In less than a year, the Securities Industry Association (SIA), Depository Trust & Clearing Corp. (DTCC) and a variety of vendors and financial services firms designed and plan to implement an electronic industry-wide automatic recall management system (ARMS) for securities lending. It will replace the repetitive manual process of phone calls and faxes that securities lenders use to recall loaned