Depository Trust & Clearing Corp., the clearing and settlement system for the U.S. capital markets, announced Thursday that it had closed out more than $500 billion of market participants' exposure to the Lehman Brothers Inc. bankruptcy, the largest close-out in DTCC's history.

Before its bankruptcy, which occurred the week of Sept. 15, Lehman was a Top Three user of DTCC's mortgage-backed securities division, among the five largest users of the government securities division, and in the Top 10 of participants in National Securities Clearing Corp. and the Depository Trust Co.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.