London, 15 April 2026 — Post-trade market infrastructure firm DTCC has committed to migrate specified core clearing and settlement applications onto Amazon Web Services and to expand its existing Microsoft Azure arrangement to cover its digital assets business, bringing the two largest US public cloud providers into systems that process trillions of dollars of securities activity each year.
The migration follows a Notice of No Objection issued by the US Securities and Exchange Commission in June 2025, which permitted DTCC's clearing subsidiaries — the National Securities Clearing Corporation, Fixed Income Clearing Corporation and The Depository Trust Company — to run specified core services on public cloud infrastructure. DTCC had worked with AWS for more than a decade, but until now that relationship covered only non-core systems.
On the AWS side, DTCC is rearchitecting clearance, settlement and risk applications to be modular, with additional redundancy and improved fault isolation. The firm is also piloting agentic AI tooling from AWS, including Kiro agentic coding services and enterprise agents across the software development lifecycle, to speed build and test cycles.
By combining AWS cloud and advanced AI capabilities, DTCC is building faster, operating with greater resilience and enhancing protections against cyber-attacks while maintaining the rigorous standards these critical systems demand.
The Microsoft arm concerns DTCC Digital Assets. Microsoft has already re-platformed the ComposerX service and is hosting the ComposerX Capital Markets Platform and Factory solutions on Azure. Under the expanded arrangement, all DTCC Digital Assets initiatives will run on Azure, and the Digital Launchpad platform is planned to migrate by the end of 2026. Microsoft 365 Copilot has been deployed across the organisation, and GitHub Copilot is in use among developers working on digital asset platforms.
Lynn Bishop, DTCC's Chief Information Officer, framed the dual-vendor approach as a way to combine faster delivery of new capabilities with the stability regulators expect of systemically important infrastructure.
Our Cloud First strategy enables us to transform our core services, introduce new capabilities more quickly, and advance adoption and use of digital assets while meeting the rigorous expectations of the market and regulatory bodies.
Bill Borden, Corporate Vice President for Worldwide Financial Services at Microsoft, said the partnership reflected the convergence of cloud and digital assets in financial services and positioned Azure as infrastructure for a new era of finance.
DTCC's subsidiaries processed securities transactions valued at $3.7 quadrillion in 2024, and its depository arm provides custody and asset servicing for securities issues from over 150 countries, valued at $99 trillion. Moving any portion of that footprint onto third-party cloud platforms represents one of the largest public-cloud migrations in financial services to date, and one the SEC has now formally signed off on.
