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It's official: The SEC has given its formal assent to the integration of the Depository Trust Company--the DTC--and the National Securities Clearing Association--the NSCC--to form a holding company, the Depository Trust Clearing Corporation, or DTCC. The DTC's CEO Jill Considine says that the new company can now get on with the task of dealing with financial reporting issues and Straight Through Processing.
Silicon Graphics (SGI) is engaged in talks to sell Cray Research, once a star in the
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